| COURSE : FINANCIAL ACCOUNTING & AUDITING PROFESSIONAL | |
|---|---|
| Course Overview | This training gives you the hands-on, interactive experience which will be broken into two distinct sections. In the first section the instructor will examine the structuring process for each Sukuk structure and highlight possible issues and challenges that might arise. Thereafter participants will have the chance to apply their knowledge by participating in various case studies and assessing real transactions. |
| Training Duration | Total Training Hours : 30 Hours Training Duration : 1 Week Total Training Days : 5 Working Days |
| Training Schedules | Weekdays (Sunday to Thursday) Regular Sessions : 6 Hrs Per day (9am to 2pm or 3.00pm to 9.00 pm) Food & refreshments Included WeekEnds (Friday & Saturday) Fast Track Sessions: 8 Hours per day (9am to 5pm) Food & refreshments Included |
| Certifications: | 1) Certificate from Laurels Training Institute, Attested by Knowledge & Human Development Authority (KHDA) government of Dubai, UAE OPTIONAL 2) Certificate from American Institute of Professional Studies (AIPS) from USA (After 15 Days of course Completion which will couriered to the attendees office address) |
| Tests | Yes |
| Learning Aids | Yes |
| Course Material | Hard & Soft Copies of Study Material |
| Language of Instruction | English |
| Instructor Helpline | Yes 1. Email 2. Social Media (For Emergency requirements) |
| Registration Requirements | 1. Passport Copy 2. Curriculum Vitae 3. Passport size photographs 4. Course Fee |
| Mode of Payment: | Cash / Cheque / Credit Card / Bank Transfer. |
| Eligibility Criteria (Who should attend this training) | Finance and Islamic banking lawyers Islamic bankers Islamic investment bankers Risk management professionals Islamic finance product developers Finance graduates and academicians Credit administration professionals in Islamic banks Shariah compliance managers Finance and legal professionals from corporate issuers |
| Course Benefits | Learn to manage the following : The Regulatory Framework for Sukuk Types of Sukuk Structures and the Structuring Process Documentation for Sukuk Instruments Documentation of the Underlying Shariah Transactions Documenting Shariah Contracts Shariah Compliance in Legal Documentation |
| Course Contents / Outline | Key Cross Border Issuance of Sukuk Instruments" "Session 1: Sukuk Concepts & Framework
Islamic Finance - Overview History of the Sukuk market Development in Malaysia Understanding Sukuk Definitions in the Market Today Securities Commission Malaysia The position of Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) Sukuk as a Fixed Income Instrument Sukuk versus conventional bonds: structure, uses and comparison Asset based versus asset backed securities: structure, uses and comparison The Regulatory Framework for Sukuk: An Analysis and Comparison Malaysia Singapore Hong Kong United Kingdom Middle East Session 2: Types of Sukuk Structures and the Structuring Process This session will examine various key Islamic contracts with a view to understanding their potential use and suitability in Sukuk structures. Bai Bithaman Ajil/Murabahah Istisna Ijarah Musharakah Mudarabah Wakalah
Session 1: Case Studies This session will highlight various deal structures through the use and examination of real-life transactions. Ringgit Sukuk US Dollar & other Non-Ringgit Sukuk Sovereign Sukuk
Session 2: Legal Documentation Overview This section will examine and dissect in detail various key documents essential to the Sukuk structuring process, using real-life examples wherever possible. Potential challenges and flashpoints will be highlighted and solutions offered. Asset purchase agreement (APA) Asset sale agreement (ASA) Lease agreement (LA) Purchase undertaking (PU) Sale undertaking (SU) Issuance Process Mode of issuance Relevant parties to the transaction and their responsibilities and obligations
Session 3: Documentation for Sukuk Instruments Capital raising instrument Sukuk in the form of securitization/asset-backed security (ABS) Sukuk in the form of trust/participation certificate/note Sukuk in the form of private debt security (PDS) Sukuk in the form of sovereign issue The constituent documentation for Sukuk Issue Conventional precedents and templates for bond issuance Case study: The instrument versus the underlying Shariah transactions The implications in Shariah rulings
Session 4: Documentation of the Underlying Shariah Transactions Shariah requirements Evidence of Shariah contracts Incorporation of necessary clauses Standard legal provisions Compliance with the legal framework Enforceable provisions Civil precedents and templates for civil contracts
Session 5: Documenting Shariah Contracts Basic Elements Compliance with the requirements of the applied Shariah concepts Undertaking a proper and effective drafting method Ensuring the right sequence of documents Compliance with laws and regulations relating Islamic banking practice Applied Shariah Concepts and Contracts Main Shariah concepts and contracts Supporting concepts and contracts Shariah compliance Primary legal documentation Subsidiary legal documentation Essential Element (Rukn) Crucial for validity of contract Clauses to reflect the presence of Rukn Elimination of clauses negating the presence of Rukn Conditions (Syart) Crucial for the establishment of Rukn Clauses to reflect the establishment of Rukn Clauses to reflect the satisfaction of Syart Elimination of clauses negating the establishment of Rukn and satisfaction of Syart
Session 5: Shariah Compliance in Legal Documentation The applied Shariah concepts/contracts and drafting issues Types of Sukuk and Shariah compliance requirements Case study: Sale-based Shariah concept and equity-based Shariah concepts Differences in formats Breach of Shariah compliance Compliance with the applicable laws, the regulations and the Shariah pronouncements Exclusion of Shariah non-compliant transactions Correct structure of documentation Sufficient evidence of Shariah Contracts Common errors in drafting and execution
Session 6: Malaysian Regulations on Sukuk Guidelines on Sukuk Approved principles for Ringgit Sukuk Permissibility of Ta’widh (compensation) Conditions for the permissibility of Ta’widh Ibra’ (rebate)
Session 7: Cross Border Issuance Governing law Shariah as the governing law? Jurisdictional legal framework and subsidiary legislations Jurisdictional Shariah pronouncements Jurisdictional legal requirements Legal and Shariah Issues Guiding principle General rule – single guiding principle Shariah versus law of the land Capacity and authority Ultra Vires issuance Jurisdictional legal framework Sale and transfer of the underlying assets Case study: Automatic transfer from Shariah perspective Transfer through other than Shariah contracts Compliance with the applicable laws and regulations Domestic Cross border Course Conclusion |