Programme

IF2014_Header

 

Time

Topics

Speakers

8.00am – 9.00am Registration

SESSION 1

9.00am – 10.15am Shariah Compliance and Business Conduct under Islamic Financial Services Act (IFSA)

Jal Othman

Introduction

  • What does IFSA regulate?
  • Who does IFSA regulate?

Shariah Compliance

  • Statutory prominence
    • The obligation to comply with the Shariah and with the Standards on Shariah
  • A way of life….
    • Aims, operations, business affairs & activities
    • Obligation extends to Directors and Senior Officers
  • BNM Shariah Advisory Council
    • The Shariah Compliance Police
  • Rights of Referral on Shariah Issues – Rulings and Advice

Business Conduct

  • Fair, responsible and professional
  • The Dos and the Don’ts – A long and Seemingly Endless List
  • Does IFSA regulate or suffocate the business?
  • BNM’s powers are wide and wider…..standards and guidelines and more……

Financial Holding Companies

  • What are they?
    • The long arm of IFSA….”interest in shares”….”aggregate effective interest”….”control”
10.15am – 10.30am

Q & A

10.30am – 11.00am

Tea break

SESSION 2

11.00am – 11.45am The Role of Cayman Islands Companies in Islamic Finance Structures

James Burch

  • Why use a Special Purpose Vehicle (SPV)?
  • Structure of the SPV Issuer
  • Role of the SPV in Islamic transactions
  • Benefits of using a Cayman Islands SPV
11.45am – 12.00pm

Q & A

SESSION 3

12.00pm – 12.45pm Uses of Offshore Trusts and Other Structures by High Net Worth Individuals

Richard Grasby

  • What is a trust?
  • Reasons for creating a trust
  • Reasons for using the Cayman Islands and British Virgin Islands
  • What happens if no planning is done
  • Types of trust
  • Who should be trustee?
  • What is a private trust company (“PTC”)?
  • Fund structures and other joint venture structures for high net worth individuals (“HNWIs”), their trustees and family offices.
12.45pm – 1.00pm

Q & A

1.00pm – 2.00pm

LUNCH

SESSION 4

2.00pm – 2.45pm The Labuan Foundation as a Wealth Management Tool in Succession Planning

Datin Isharidah Ishak

  • The balance between clients’ wealth creation and accumulation needs with the clients’ wealth preservation and distribution needs.
  • Why succession planning and the consequences of a failure to plan, particularly in the Shariah compliance sphere.
  • What is a Labuan foundation and how it works.
  • The flexibility of the Trust-Corporation Combination
  • The Labuan Islamic Foundation
  • The bespoke nature of a Labuan Foundation in succession planning.
2.45pm – 3.00pm

Q & A

3.00pm – 3.30pm

Tea break

SESSION 5: FORUM

3.30pm – 5.00pm Islamic Finance – have we finally arrived or are we still in transition?

  1. Dato’ Mohammad Faiz Azmi, Executive Chairman, PricewaterhouseCooper (PwC) Malaysia.
    (He was the Global leader of PwC’s Global Islamic Finance Team practice from 2007 to September 2012)
  2. Madzlan Hussain, Partner and Head, Islamic Financial Services Practice, Zaid Ibrahim & Co.
  3. Islamic Investment Bank (TBC)

Moderator:
Jal Othman

5.00pm

END

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Albert Einstein
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