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OVERVIEW

The amount of managed assets owned by Muslims globally is estimated to be in the region of USD2.5 trillion, a substantial portion is held within the conventional financial system.

Malaysia’s positioning of itself as an Islamic investment gateway to the world has been a success story. Our comprehensive Islamic financial system and the conventional financial system are able to function in parallel.

Globally, Islamic financing with its emphasis on risk sharing and its persuasive ethical and moral bases has been well received. Cayman Islands has introduced Islamic friendly legislation to facilitate the use of CI vehicles in Islamic Finance.

Given that non-Muslim High Net Worth Individuals (HNWI) may also opt for Islamic financial solutions, the Islamic finance sector cannot but spearhead growth in the financial services industry. However, as Islamic private banking is still relatively young, viable alternatives for HNWI who may prefer Islamic financial solutions are still lacking.

OBJECTIVES

In this Seminar, we will look at different and alternative avenues of wealth management, with a special emphasis on international structures available using the Cayman Islands and the British Virgin Islands. There will be a useful discussion on using the Cayman Islands vehicle in typical Islamic finance structures. We will also review those important aspects of our Islamic Financial Services Act.

This one-day seminar will provide a good platform for networking with other individuals and corporations who deal in Islamic financing and for HNWIs, bankers, financial consultants, wealth advisors, asset managers, lawyers, academicians to exchange knowledge, expertise and experience on this most interesting and evolving topic.

Who Should Attend?
» Bankers
» Lawyers
» Insurer
» Financial Advisers
» Property Managers
» Corporate Sectors

 

SPEAKERS & KEY TOPICS

Speaker : Jal Othman (Senior Partner, Shook Lin & Bok, Kuala Lumpur)
Topic : SHARIAH COMPLIANCE AND BUSINESS CONDUCT UNDER IFSA
Synopsis : Jal Othman will present selected commentaries on the Islamic Financial Services Act (IFSA). This includes a brief introduction of IFSA; the Shariah compliance and standards; observing ‘A way of life’ – its implications on business affairs, operations and activities and the role of the BNM Shariah Advisory Council. He will also elaborate on the impact of IFSA on Business Conduct and the effect of the long arm of IFSA on Financial Holding Companies.

Speaker : James Burch (Managing Partner, Maples and Calder, Singapore)
Topic : THE ROLE OF CAYMAN ISLANDS COMPANIES IN ISLAMIC FINANCE STRUCTURES
Synopsis : James Burch will look at the reasons for and benefits of using a Cayman Islands vehicle as issuer in typical Islamic finance structures. He will provide an overview of the Cayman Islands as a jurisdiction, the structure of a Cayman Islands issuer and its role in a typical Islamic structure.

Speaker : Richard Grasby (Partner, Maples and Calder, Hong Kong)
Topic : USES OF OFFSHORE TRUSTS AND OTHER STRUCTURES BY HIGH NET WORTH INDIVIDUALS
Synopsis : Richard Grasby will look at the structures available for high net worth individuals and will consider the uses of offshore trusts, the uses of private trust companies and the uses of investment fund vehicles for high net worth individuals. He will also consider the particular structures available using the Cayman Islands and British Virgin Islands and flag some of the consequences of not using proper structuring.

Speaker : Datin Isharidah Ishak (Senior Partner, First Fiduciary (Labuan) LLP)
Topic : THE LABUAN FOUNDATION AS A WEALTH MANAGEMENT TOOL IN SUCCESSION PLANNING
Synopsis : Labuan is fast establishing itself as a niche jurisdiction for wealth management and succession planning structures. Besides giving a brief overview of Labuan as a jurisdiction, Isharidah will focus on the uses of the Labuan foundation as a succession planning vehicle, including an explanation of the Labuan Islamic foundation.

 

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'A theory is something nobody believes, except the person who made it. An experiment is something everybody believes, except the person who made it.'


Albert Einstein
Nobel Prize Laureate (Physics)