Islamic Financial Products : Current Trends, Regulation and Practices

Instructor by : Herry Ahmad Buchory & Tim   DESCRIPTION Significant changes are afoot in the way global banking regulators treat Islamic financial products. Nowhere is this more true than in one of the world’s most developed Islamic finance centres, Malaysia. Over the past 12 months the banking regulator, Bank Negara Malaysia, has issued a number of far-reaching concept papers, Shariah parameter reference guidelines and exposure drafts relevant to particular Islamic financial products. A number of new concept papers are in the pipeline for other products, including Ijarah and Istisna. In the capital markets, Securities Commission Malaysia released new Shariah screening criteria for Islamic funds. All of this is set to the backdrop of the Islamic Financial Services Act 2013 (IFSA), which dramatically alters the way Islamic financial institutions can undertake their business. This vital two day training program will address the issues above from a real-life perspective. What does the new regulatory framework really mean? What criteria must Islamic financial products now fulfill and how does this implicate banks’ product offerings? How must banks now treat depositors’ funds and what does this mean for their business models? What are the accounting and reporting issues? How do the changes implicate the financial, capital adequacy and profitability ratios of Islamic financial institutions? All these issues and more will be addressed in detail. In addition, we shall compare and contrast Malaysian current practices with those seen in overseas markets, particularly the Gulf. Is Malaysian Islamic finance really as liberal as these markets sometimes presume? Or is it the case that these markets should look to Malaysia as a model for effective regulation? We shall offer a concise, accurate and up-to-date assessment. OUTLINE MATERI

1. Analyzing How Recent Regulation Impacts the Business of Islamic Banking
2. Understanding BNM Concept Papers, Shariah Parameters and Exposure
3. Drafts on Various Islamic Products
4. Summarizing Accounting Issues and the Implications of New Regulations on Reporting
5. Evaluating Changes to Rules Governing Islamic Depository Instruments
6. Assessing the Impact of New Regulation on Financial and Profitability Ratios of Islamic Banks

TRAINING METHOD Presentation Discussion Case Study Evaluation   FACILITY Training Kit Handout Certificate Lunch + 2 X Coffee Break Souvenir