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Internationalisation of Islamic Finance: Bridging Economies18th - 20th September 2012

Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur

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The third Global Islamic Finance Forum (GIFF) 2012, themed “Internationalisation of Islamic Finance: Bridging Economies” will be held in Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur from 18th to 20th September 2012.

This hallmark event aims to provide an avenue for stimulating intellectual discourses and realisation of business opportunities.

GIFF 2012 will feature financial industry practitioners, regulators, Shariah scholars and business communities from around the globe to discuss the prospects for Islamic finance industry in bridging economies and strengthening connectivity.

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Day 1Tuesday, 18th September 2012• ExecutiveMasterClass• GlobalIslamicLiquidity

ManagementConference• IslamicMicrofinanceand

FinancialInclusionForum• InternationalShariah

ScholarsForum• BusinessNetworking

ReceptionbyInvitedCountries(by invitation)

Day 2Wednesday, 19th September 2012• PublicLecture1• BridgingEconomiesForum• GlobalIslamicFinance TaxationForum• IndustrySpecificDialogue• InternationalShariah

ScholarsForum• RoyalGalaDinnerandPresentation

ofRoyalAwardforIslamicFinance(by invitation)

Day 3 Thursday, 20th September 2012• PublicLecture2• RegulatorsForum• InternationalIslamicCapital

MarketForum• SMEsWorkshop:Leveragingon

IslamicFinancingOpportunities• TheTakafulRendezvous

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DAY 1ExEcutivE MAstEr clAss: BAnking BusinEss MoDEl AnD risk MAnAgEMEnt in islAMic FinAncE

gloBAl islAMic liquiDitY MAnAgEMEnt conFErEncE

islAMic MicroFinAncE AnD FinAnciAl inclusion ForuM

intErnAtionAl shAriAh scholArs ForuM

07:30 Registration (all programmes)

09:00 Welcoming/Keynote Address: Banking Risk Appetite & Financial Stability session 1: Various Possible Business Models in Islamic Banking

• Welcoming remarks by President of Association of Islamic Banking Institutions Malaysia (AIBIM)

• Opening addresssession 1: Major Lessons for Islamic Banks

Keynote Address: Role of Regulation and Supervision – Setting an Enabling Environment for Islamic Microfinance

• Recitation of Holy Quran • Welcoming Remarks by Islamic

Research and Training Institute (IRTI) • Welcoming Remarks by International

Shariah Research Academy for Islamic Finance (ISRA)

09:30 session 1: Major Challenges of Shariah Board Members10:00

10:30 Networking & Refreshments

10:45session 2: Regulatory Requirements in Respect to the Business Models - Issues & Challenges

session 2: Developing The Ecosystem to Enhance Cross-Border Islamic Financial Market Activities - International Islamic Liquidity Management Corporation (IILM) Sukuk Programme

session 1: Successful Islamic Microfinance Model - Insights into Latest Market Development

session 2: Characteristics of Shariah Board Members

11:00

11:30

12:00 session 3: Fee-based Islamic Banking Models - Issues & Challenges12:30

13:00 Lunch

14:30Keynote Address: Key Issues in Risk-based Supervision for Various Banking Models in Islamic Finance

session 3: Enhancing Cross-Border Liquidity Management

session 2: Successful Microtakaful Schemes and Operational

session 3: Shariah Board Members and Shariah Governance Framework15:00

15:30


16:00 session 4: Integrated Risk Management in Islamic Banking

session 4: Addressing Leakages out of Islamic Financial System and Summarise Resolution

session 3: Examining Government Initiatives and Drivers for Increasing Financial Inclusion

16:30

16:45session 5: Resilience of Islamic Banks in Facing Financial Crisis - Cross-Border Experience

17:00 Closing: Human Capital Development for Islamic Financial Services Industry

17:30 End of session

18:00Business Networking Reception by Invited Countries (by invitation)

19:00

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DAY 2BriDging EconoMiEs ForuM gloBAl islAMic FinAncE

tAxAtion ForuMinDustrY spEciFic DiAloguE intErnAtionAl shAriAh

scholArs ForuM


09:30plEnArY sEssion

Opening Address by Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia

puBlic lEcturE 1“Islamic Finance Transforming as a New Frontier in the Age of Global Economic Change”


11:30

session 1: Introductory Session & GIFF Report

session 1: Common Cross-Border Taxation Issues in Islamic Finance

“Synergising Islamic Finance and Real Sectors Towards Mutually Enhanced Business Values”

session 1: An Overview of the Malaysian Shariah Governance Framework

12:00

12:30

13:00 Lunch

14:00 session 2: Enlarging the Islamic Finance Pie in AsiaCase Study A: Khazanah RMB SukukCase Study B: Nomura Holdings Incorporated’s Commodity Murabaha Facility

session 2: Building Blocks for Active Cross-Border Flows


14:30 session 2: Assessment of the Ground Reality and Industry Perception of the Shariah Board15:00


15:30 session 3: The Future of Islamic Finance in EuropeCase Study C: Cross-Border Distribution of Islamic Funds through UCITS PlatformCase Study D: Debut Murabahah Syndication in Russia

session 3: Case Study on Cross-Border Tax Treatment for Islamic Finance Transactions in the MENA Countries


session 3: Future Prospects for Shariah Board Members

15:45

16:00

16:30 session 4: The Rising of North Africa and the Continued Momentum in Middle Eastcase Study E: A Unique Sukuk Al-Ijarah Restructuring – The Nakheel ExampleCase Study F: Financing for Gambia Groundnuts - First Islamic Structured Export Financing Deal in Gambia

session 4: What’s Next for International Tax Policy17:00 Resolution & Closing Remarks


20:00Royal Gala Dinner and Presentation of Royal Award for Islamic Finance (by invitation)

22:00

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DAY 3rEgulAtors ForuM thE tAkAFul rEnDEzvous intErnAtionAl islAMic cApitAl

MArkEt ForuMsMEs Workshop: lEvErAging on islAMic FinAncing opportunitiEs


09:00 plEnArY sEssionRoyal Address by His Royal Highness Raja Dr. Nazrin Shah, MIFC Financial Ambassador

puBlic lEcturE 2“Enhancing the Islamic Financial System in a Decade of Increasing Internationalisation”

09:30

10:00


10:45

Keynote Session: Navigating Islamic Finance in an Era of Increasing Internationalisation

cEos’ session: Meeting the Expectations

session 1: The Regulatory Framework

11:00 session 2: A Greater Role for Islamic Finance in the Global Economy11:30

session 1: Islamic Project Financing - Benefits and Challenges for SMEs

11:45

session 1: Enhancing Regulatory and Supervisory Synergy to Increase Cross-Border Transactions in Islamic Finance

session 1: Wealth Management session 2: Medical and Health Takaful

session 3: Sukuk as a Viable Fund Raising Option12:00

12:15session 4: Islamic Fund Management

12:30

13:00 Lunch

14:30session 2: Legal and Shariah Governance – Catalyst for Greater Global Connectivity in Islamic Finance

session 3: Integrating Cross-Border Takaful Business session 5: Islamic Fund Management

session 2: Working Capital and Trade Financing - Practical Case Study for SME Financing15:00

15:30


16:00 session 3: Impact of Basel III on Regulatory Standards and Effect on Cross-Border Activities

session 4: Retirement Plansession 5: Becoming Large and Specialised Risks (LSR) Takaful Operator

session 6: Product Development in Islamic Finance

session 3: Growth Trajectory for SME - Preparing for Listing and Cross Boundaries

16:30session 6: Managing and Prioritising Critical Business Risks and Solvency Challenges

16:45 session 4: Takaful - Venturing Beyond Boundaries17:00


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09:00 Welcoming/Keynote Address: Banking Risk Appetite & Financial Stability Session 1: Various Possible Business Models in Islamic Banking

• BusinessandfinancialriskinIslamicbankingmodels• Balancingprofitandsocialneeds

10:30 Networking&Refreshments Venue:ConferenceHall1&Pre-functionArea

10:45 Session 2: Regulatory Requirements in Respect to the Business Models - Issues & Challenges• Capitalregulatoryrequirementsforassetbasedfinancing• RoleoftheIslamicFinancialServicesBoard(IFSB)inshapingthe

behaviourofIslamicbanks

12:00 Session 3: Fee-based Islamic Banking Models - Issues & Challenges• Capitalrequirementsforassetbasedfinancing• PrivateBanking-PrivateEquityandIslamicFundManagement

13:00 Lunch(Venue:SasanaCafe&KMCAtrium)

14:30 Keynote Address: Key Issues in Risk-based Supervision for Various Banking Models in Islamic Finance


ExECutIVE MAStER ClASS: BAnKIng BuSInESS MoDEl AnD RISK MAnAgEMEnt In ISlAMIC FInAnCEVenue: Training Room 2.1 – 2.2

DAY 1 Tuesday, 18th September 2012

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16:00 Session 4: Integrated Risk Management in Islamic Banking• Whydobanksfail?• RiskmanagementprocessinIslamicbanks• MandateofChiefRiskOfficertowardsmoreintegratedrisk

management

16:45 Session 5: Resilience of Islamic Banks in Facing Financial Crisis - Cross-Border Experience• ResilienceofIslamicbanksinfacingfinancialturmoil• UniquecharacteristicsofIslamicbanksthatcontributetowards

itsresilience• Supportfrommonetaryauthoritiesandregulatorsin

strengtheningIslamicbanks

17:00 Closing: Human Capital Development for Islamic Financial Services Industry

17:30 Endofsession

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09:00 Welcoming remark by President of Association of Islamic Banking Institutions Malaysia (AIBIM)

opening address

Session 1: Major lessons for Islamic Banks• PotentialrepercussionstoIslamicfinancebasedontherecent

developmentthatwouldimpactoperationsofIslamicfinancialinstitutions

• Whatarethemajorlessonsfromthelatestdevelopment?Howarethedevelopmentstiedtointerbankliquiditymanagement?WhataretheotherpotentialsourceswithintheIslamicbankingindustry?


10:45 Session 2: Developing the Ecosystem to Enhance Cross-Border Islamic Financial Market Activities - International Islamic liquidity Management Corporation (IIlM) Sukuk Programme• AnoverviewofIILManditsSukukprogramme-roleofIILMand

relatedinitiativestosupporttheSukukprogramme,includingprimarydealerframework,regulatorytreatmentandsecondarytrading

13:00 Lunch(Venue:SasanaCafé&KMCAtrium)

gloBAl ISlAMIC lIquIDItY MAnAgEMEnt ConFEREnCE

Liquidity Management: Strengthening Building Blocks for Internationalisation of Islamic Finance

Venue: Auditorium

DAY 1 Tuesday, 18th September 2012

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HighlightsprevailingrulesandlatestdevelopmentsthatimpacttheoperationsofIslamicfinancialinstitutionsinundertakingcross-bordertransactionsforthepurposesofIslamicliquiditymanagement.ParticipantscanalsosharesuccessfactorsandexchangeideasonthelatestdevelopmentsthatarebeyondtheboundariesoftheIslamicfinancialindustry.

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14:30 Session 3: Enhancing Cross-Border liquidity Management• Needforcross-borderliquiditymanagementasapre-requisite

forastableandsustainableIslamicfinancialsystem.Whatarethebuildingblocksrequiredtoestablishcross-borderinterbanklinkagesthatareeffectiveforliquiditymanagement?

• Successstoriesinestablishingcross-borderlinkagesinthe conventionalsector• Howimportantaretherolesofstandardisationofmarket

practices,centralisedplatformofexchangesandglobalintermediaries?

• Areauthoritiestheonlychannelforestablishingcross-borderlinkages?WhytheIslamicindustryneedstobeattheforefronttopursuethis,andnotnecessarilytheauthorities?


16:00 Session 4: Addressing leakages out of Islamic Financial System and Summarise Resolution• LeakagesoffundsfromtheIslamicfinancialsysteminto

theconventionalsystem–Shouldleakagesbeallowedorprohibited?

• Acceptedkeypointsdiscussedandthesummarisedresolutions• Keytake-awaysfortheIslamicbankingindustry

17:30 Endofconference

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09:00 Keynote Address: Role of Regulation and Supervision – Setting an Enabling Environment for Islamic Microfinance


10:45 Session 1: Successful Islamic Microfinance Model - Insights into latest Market Development• Processandsuccessfactorsofpublic-privatecollaboration• Waqf&zakatmodelthroughmicrofinancingforpovertyalleviation• Povertyalleviation&microfinancing:Charityvs.Commercialisation–

Shariahsolutions?

13:00 Lunch(Venue:ConferenceHall2&Pre-functionArea)

14:30 Session 2: Successful Microtakaful Schemes and operational• Devisingcost-effectiveandrapiddistributionmodelstoimprove

marketaccess• Successfulpilotcatastrophesmicrotakafulriskmodellingprojects• Personalaccidentandcashlesshealthmicroinsurancescheme


16:00 Session 3: Examining government Initiatives and Drivers for Increasing Financial Inclusion• Latestdevelopmentinpoliciesandinitiativessupportingfinancial

inclusion• Trendsincross-borderfundingbetweenOICcountries• Opportunitiesandchallengesinmovingforward

17:30 Endofforum

ISlAMIC MICRoFInAnCE AnD FInAnCIAl InCluSIon FoRuMVenue: Theatrette

DAY 1 Tuesday, 18th September 2012DAY 1 Tuesday, 18th September 2012

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DAY 1 Tuesday, 18th September 2012DAY 1 Tuesday, 18th September 2012

09:00 RecitationofHolyQuran

09:10 Welcoming Remarks by Islamic Research and training Institute (IRtI)

09:20 Welcoming Remarks by International Shariah Research Academy for Islamic Finance (ISRA)

09:30 Session 1: Major Challenges of Shariah Board Members

10:30 Networking&Refreshments Venue:ForumFoyer

10:45 Session 2: Characteristics of Shariah Board Members • ScarcityofShariahscholarswithfinancialknowledge• Bestapproachindevelopingtherequiredhumancapital• ShouldShariahBoardmembersbefull–time


14:30 Session 3: Shariah Board Members and Shariah governance Framework • ImpactoflimitingthenumberofShariahBoardrepresentation• Scopeofaccountability,levelofindependenceandmanagingconflict

ofinterest• ShouldShariahauditbecarriedoutinternallyoroutsourced

15:45 Networking&Refreshments/Endsession Venue:ForumFoyer

IntERnAtIonAl SHARIAH SCHolARS FoRuM

The Role of Shariah Board in Light of Shariah Governance Framework

Venue: Forum

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9:30 opening Address Dr. Zeti Akhtar Aziz

GovernorBankNegaraMalaysia10:00 Islamic Finance transforming as a new Frontier in the Age

of global Economic Change• Understandingthechanginglandscapeintoday’sglobal

economicandfinancialarchitecture• Strengtheninginternationalmonetaryandfinancialsystem

throughalternativeinvestmentandfinancialgovernance• BuildingIslamicfinancialandentrepreneurialecosystems

globallywithnewtechnologicalandstrategicdirectionstowardsfinancialinclusionandstability

• Empoweringcross-borderconnectivityandopportunitiesforemergingeconomiesthroughIslamicfinance


PlEnARY SESSIonVenue: Auditorium

Public lecture 1

DAY 2 Wednesday, 19th September 2012

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11:30 Session 1: Introductory Session & gIFF Report• OverallIslamicfinancialmarkethighlightsandkeyprospectsforthenext5years• CurrentstateofinternationalisationofIslamicfinanceandkeychallenges• JurisdictionsthatcouldmakeimpactfulcontributiontowardsglobalisingIslamic

finance• Prospectsofinterregionallinkagesandcross-borderinvestmentsinIslamic

finance


14:00 Session 2: Enlarging the Islamic Finance Pie in Asia• SustainabilityofIslamicfinancerapidexpansioninSouthEastAsia• EastAsiajoiningthebandwagon:Whatistheprospect?• IslamicfinancerolesinmeetinginfrastructuredevelopmentneedsforAsia• DemandofIslamicfinanceinCentralAsia• Asiaandinternationalwealthmanagementprospects

Case Study A: Khazanah RMB Sukuk• HighlightstheinauguralRenminbi(RMB)denominatedsukukissuedinMalaysia,a

majorstepinthedevelopmentofoffshoreRMBmarket Case Study B: nomura Holdings Incorporated’s Commodity Murabaha Facility

• IllustratesthefirstIslamicfundingexercisebyaJapanesecorporatewiththeaimtostrenghthenthefinancialtiesbetweentheFarEastandMiddleEast

15:15 Networking&Refreshments(Venue:ConferenceHall1&Pre-functionArea)

15:30 Session 3: the Future of Islamic Finance in Europe• Europe’spotentialastheIslamicfundandwealthmanagementcentre• AppetiteforIslamicInitialPublicOfferings(IPOs)inthemidstofEuropedebt-crisis• RolesofEuropeanplayersascatalystforcross-borderdeals• AppetiteandpotentialofTakafulandretakafulmarketinEU• TheregulatoryandtaxationenvironmentinmajorEuropeancentresforRealEstate

InvestmentTrusts(REITs)andotherIslamicequitylinkedproducts

BRIDgIng EConoMIES FoRuMVenue: Auditorium


ShowcasestheIslamicfinanceprospectsandopportunitiesinAsia,EuropeandMENAregion,respectively.ParticipantscangaininsightsonthepotentialIslamicfinance-relatedbusinessandinvestmentopportunitiesintheregions,amanifestofthecontinuouslygrowinginterestforIslamicfinanceacrosstheworld.

Participantswillbenefitfromtheforumdiscussionsandcasestudiesofcross-borderIslamicfinancialtransactions.

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Ms. Baljeet KaurViceChairman,KFHResearch

Mr. Rushdi SiddiquiGlobalDirector,IslamicFinanceThomsonReutersUS

Dr. Humayon DarDirector&CEOofBMBIslamicAdvisoryLtd

Mr. Jaseem AhmedSecretary-General,IslamicFinancialServicesBoard

Mr. tobias FrenzChiefExecutiveOfficer, MunichReRetakaful

Mr. Kazuhiko taharaDirector,DaiwaSecuritiesCapitalMarket

Mr. Rafe HaneefChiefExecutiveOfficer,HSBCAmanah

Mr. Prasad AbrahamChiefExecutiveOfficer,AlHilalBank,Kazakhstan

Mr. Mohd Izani ghaniChiefFinancialOfficer, KhazanahNasionalBerhad

Ms. nor Rejina RahimManagingDirectorofNomuraAssetManagementMalaysia

Mr. Roustam VakhitovVicePresident,HeadofTaxand FinancialConsultingdepartmentofUFSInvestmentCorp

Case Study C: Cross-Border Distribution of Islamic Funds through uCItS Platform• IllustratestheuseofUCITSplatformtofacilitatecross-border

distributionofIslamicfunds

Case Study D: Debut Murabahah Syndication in Russia• HighlightsrealopportunitiesfordiversificationofShariah-based

fundsourcingandopportunitiesofalternativefundingsourcesintheRussianmarketandacrosstheCommonwealthofIndependentStates

16:30 Session 4: the Rising of north Africa and the Continued Momentum in Middle East• EmergingandgrowingmarketsinNorthAfrica:RolesofIslamic

finance• TheriseofEgypt,Oman,Tunisia,JordaninIslamicfinance• HowbigisretakafulmarketinMENAandkeypotential

businesslines• MomentumofprojectfinanceintheMiddleEast

Case Study E: A unique Sukuk Al-Ijarah Restructuring – the nakheel Example• IllustratesaninnovativeusageofSukukinrestructuringof

liabilities,aimedtosettleoutstandingclaimsoftradecreditors Case Study F: Financing for gambia groundnuts - First

Islamic Structured Export Financing Deal in gambia• IllustratestheusageofIslamictradefinancestructureto

providefinancingtothefarmersinAfricaduringthegroundnutstradingseason

17:30 Endofforum

Mr. Paul WoutersLawyer,AntwerpBarAssociation(Belgium)Counsel,BenerLawOffice(Turkey)

Mr. Alberto giuseppe Brugnoni Chairman,BoardofASSAIF

Datuk noripah KamsoCEO,CIMBPrincipalIslamicAssetManagement

Mr. Robert MinnegalievChiefExecutiveOfficer,AKBARSBank,Russia

Mr. Ashar nazimDirector,IslamicFinancialServicesMENA,Ernst&Young

Mr. Amman MuhammadManagingDirector,AbsaIslamicBanking

Dr. Mohd Daud BakarChairmanofShariahAdvisoryCouncilofBankNegaraMalaysia

Mr. Ajmal BhattyPresident&CEO, TokioMarineMiddleEastLimited

Mr. nazeem noordaliGeneralManagerofCorporate&StructuredFinanceDepartment,ITFC,IDB

Speakers

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11:30 Session 1: Common Cross-Border taxation Issues in Islamic Finance

CurrentlocalandinternationalframeworkforIslamicfinancetaxation • MalaysiantaxtreatmentonIslamicfinancialtransactions• Issuesunderthedoubletaxationagreements(DTAs)anddiscussionon

howIslamicfinanceistaxedundertheDTAs

13:00 Lunch(Venue:SasanaCafe&KMCAtrium)

14:00 Session 2: Building Blocks for Active Cross-Border Flows Promotingcross-bordercohesivenesswithtaxationasabusinesscatalyst

• TaxasanenablerinfacilitatingthegrowthofIslamicfinanceregionally• ReallifeexperiencesinundertakingIslamicfinancecross-border

transactions

15:15 Networking&Refreshments(Venue:ConferenceHall1&Pre-functionArea)

15:30 Session 3: Case Study on Cross-Border tax treatment for Islamic Finance transactions in the MEnA Countries • DiscussionontheconclusionsreachedfromtheMENAstudy• Mappingofitscommonapplicabilitytothelocalandinternational

taxissues

gloBAl ISlAMIC FInAnCE tAxAtIon FoRuMVenue: Theatrette


ProminenttaxationauthoritiesandIslamicfinanceplayersdebateontheroleoftaxasabusinessenablerforcross-bordertransactions,withanaimtofindaresolutionthatcouldassistindeepeningtheIslamicfinancialtransactionsacrosstheglobe.

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16:30 Session 4: What’s next for International tax Policy• PotentialsolutionsforcurrentissuesinbothMENAandAsia

Pacificregions• SettingofthetaxdirectiveforIslamicfinanceasmoderatedby

theOECDrepresentative• Jointinternationalproposali.e.“IslamicFinanceTaxation

Forum:ProposalsonTaxationofCross-BorderIslamicFinancialTransaction(TheProposal)

17:30 Endofforum

Ms. Azleena Idris DeputyDirector,IslamicBankingandTakafulDepartment, BankNegaraMalaysia

Mr. Edward Barret TaxTreatyAdvisor,CentreforTaxPolicyandAdministration,OECD,Paris

Mr. Aurobindo Ponniah Head,IBFDOfficeforAsiaandthePacific,KualaLumpur

Ms. Jennifer Chang SeniorExecutiveDirector, PwCTaxationServices,KualaLumpur

Mr. Sam Chay DirectorTaxandFinance CIMBGroup,KualaLumpur

Mr. Richard thomas ChiefExecutiveOfficer GatehouseBank,London

Mr. Wimbanu Widyatmoko ManagingPartnerHadiputranto, HadinotoandPartners,Jakarta

Mr. Hafiz Choudhury Principal,MGroup,USAandAsiaInternationalTaxandInvestmentCenter,WashingtonD.C.,USA

Mr. Mohammed Amin IslamicFinanceConsultant,London

Mr. Salah guyedi SeniorAdvisor MinistryofEconomyandFinance Doha,Qatar

Mr. Edward Barret TaxTreatyAdvisor,CentreforTaxPolicyandAdministration,OECD,France

Mr. Aurobindo Ponniah Head,IBFDOfficeforAsiaandthePacific,KualaLumpur

Speakers

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11:30-17:30

• Prominentspeakers,comprisingbusinesspractitionersandfinancialexpertswillsharetheirexperiencesonhowIslamicfinancehasfacilitatedthebusinesscommunityintheoperationsandexpansionoftheiractivities.

• Highlightsofthesessionincludediscussiononthelatestdevelopmentandglobaloutlookofselectedeconomicsectors,suchastheaviation,oilandgas,educationandinfrastructuredevelopment,andtheprospectofIslamicfinanceasaviableformoffinancialintermediationforthesesectors.

• ParticipantscangaininsightsonvariousbusinessopportunitiesthatcanbefurtherexploredbybothmarketplayersintheIslamicfinanceindustryandbusinesscommunityfromtherealsectors.

InDuStRY SPECIFIC DIAloguE

Synergising Islamic Finance and Real Sectors Towards Mutually Enhanced Business Values

Venue: Training Room 2.1 - 2.4


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11:30 Session 1: An overview of the Malaysian Shariah governance Framework


14:30 Session 2: Assessment of the ground Reality and Industry Perception of the Shariah Board • Challengestoapproveproductsandinstitutionaloperations• Doesremunerationcommensuratewithcontributions?• Fatwainconsistencybetweendifferentboards

15:15 Networking&Refreshments(Venue:ForumFoyer)

16:00 Session 3: Future Prospects for Shariah Board Members• Increasedparticipationofwomen?• Prosandconsofharmonisationandstandardisation• SingleglobalShariahBoard

17:00 Resolution&ClosingRemarks

17:30 Endofforum

IntERnAtIonAl SHARIAH SCHolARS FoRuM

The Role of Shariah Board in Light of Shariah Governance Framework

Venue: Forum

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9:00 Royal Address by His Royal Highness Raja Dr. nazrin Shah MIFCFinancialAmbassador

09:30 Enhancing the Islamic Financial System in a Decade of Increasing Internationalisation• OutlookforIslamicfinanceinachangingeconomiclandscape• ChallengesandaspirationsforinternationalisationofIslamic

finance• StrategiestoenhancecapabilityofIslamicfinanceto

strengthenlinkagesinthefinancialworldandtobridgeeconomies

• RisksharingasavehicleforinternationalisationofIslamicfinance

• RolesofmultilateralorganisationsinsupportinginternationalisationofIslamicfinance


PlEnARY SESSIonVenue: Auditorium

Public lecture 2

DAY 3 Thursday, 20th September 2012

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10:45 Keynote Session: navigating Islamic Finance in an Era of Increasing Internationalisation• Pre-requisitestointernationalisationofIslamicfinance• OpportunitiesforIslamicfinanceinaneraofincreasing

internationalisation• Regulatoryprioritiesinthenextfivetotenyearstoassistcross-border

Islamicfinancialactivities• Challengesinmovingforwardtoincreasinginternationalisation

11:45 Session 1: Enhancing Regulatory and Supervisory Synergy to Increase Cross-Border transactions in Islamic Finance• Importanceofaholisticregulatoryandsupervisorycooperationto

addressemergingriskfromcross-borderactivities• RegulatorystrategiestoachievedynamicIslamicfinancialinstitutions

forcross-borderactivities• StandardsneededtofacilitateamoreglobalisedIslamicfinancial

system• StrengtheningliquiditymanagementofIslamicfinancialinstitutions

throughissuanceprogrammesbytheInternationalIslamicLiquidityManagementCorporation(IILM)


14:30 Session 2: legal and Shariah governance – Catalyst for greater global Connectivity in Islamic Finance • Enhancingtherolesofjudiciaryandlegalfraternityinspurringgrowth

ofcross-borderIslamicfinancialtransactions• Assessingcomprehensivenessofexistinglegalinfrastructureto

facilitateglobalconnectivity,includingcross-bordertransactions• IntensifyinginternationalcollaborationoneffortstopromoteShariah

convergenceandunderstandingtofacilitatecross-borderactivities• StrengtheningShariahgovernanceframeworktosupportthe

expansionininternationalproductandserviceofferings

REgulAtoRS FoRuMVenue: Forum


Highleveldiscussionsonregulatorystrategiesinanenvironmentofincreasedcross-borderIslamicfinancialactivities.Panelistswillhighlightkeyregulatoryandsupervisorychallengesandthepossiblesolutionsthatwillsupportgreatercross-borderbusinesses.

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16:00 Session 3: Impact of Basel III on Regulatory Standards and Effect on Cross-Border Activities• Strengthenedcapitalandliquidityrequirementstoinspire

greaterconfidenceonIslamicfinancialinstitutions• EffectsofdifferentlevelsofadoptionofBaselIIIrequirements

betweenjurisdictions• Home-hostsupervisoryissuesinimplementingBaselIIIrules• Potentialchallengesinliquiditymanagement–ahinderfor

cross-borderactivities?

16.45 Session 4: takaful - Venturing Beyond Boundaries • Overcomingregulatorychallengestofacilitatecross-border

takafulbusiness• Risk,corporateandShariahgovernance–strengthening

foundationforsustainablegrowthoftakafulplayersbeyonddomesticboundaries

• Theroleofstandardsettingbodiesinthedevelopmentofgloballyconsistentstandardsfortakafultominimisecross-borderregulatoryarbitrage

17:30 Endofforum

tan Sri Andrew ShengChiefAdvisor,ChinaBanking RegulatoryCommission

Mr. Bakarudin IshakAssistantGovernor,BankNegaraMalaysia

Mr. Jaseem AhmedSecretary-General,IslamicFinancialServicesBoard

Mr. Richard thomasChairmanoftheWorkingGroup,UKIFS

Mr. Brian P. BakerManagingDirectorofPIMCOAsia

Mr. Iqbal KhanCEO,FajrCapital

Mr. Rushdi SiddiquiGlobalDirector,IslamicFinanceThomsonReutersUS

tun Abdul Hamid Haji MohamadFormerChiefJusticeofMalaysia

Dr. Mohd Daud BakarChairman,ShariahAdvisoryCouncilofBankNegaraMalaysia

Sheikh Yusof talal DelorenzoUSShariahScholar

Mr. Jeff MillerSecretariatofBaselIIICommittee, BankofInternationalSettlement

Mr. Khalid Hamad Abdulrahman HamadDirectorofBankingSupervision, CentralBankofBahrain

Dr. Ali Al AmariSeniorDirector,Supervision&AuthorisationDivisionQatarFinancialCentreRegulatoryAuthority

Dr. John lee Hin HockChiefRiskOfficer,MaybankGroup

Mr. Sohail JafferPartnerandHeadofInternationalBusinessDevelopment,FWGroup

Mr. Dawood taylor SeniorRegionalExecutive(Takaful),PrudentialCorporationAsia,UAE

Mr. Peter CaseySeniorDirector,PolicyandStrategy,HeadofIslamicFinance–DubaiFinancialServicesAuthority

Mr. tobias FrenzChiefExecutiveOfficer, MunichReRetakaful

Speakers

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10:45 CEos’ Session: Meeting the Expectations • Regulators’expectations• Rigorousunderwritings• Operationalefficiencies• Reasonableexpectationoftakafulparticipants• Keyperformanceareas

11:45 Session 1: Wealth Management• Demographicchanges• Determiningkeyfocusareas• Measuringreadiness

Session 2: Medical and Health takaful • Identifyingdemands• Keyfocusareasforreadiness• Criticalsuccessfactors


14:30 Session 3: Integrating Cross-Border takaful Business• Issuesandchallenges• Areasforconsiderationbynon-takafulregulators• Supportingfactorsontheregulatoryenvironments


tHE tAKAFul REnDEZVouSVenue: Auditorium


Aforumtogaingreaterunderstandingontheglobaldevelopmentsintakafulregulationsandconductoftakafulbusiness,includingfactorsaffectingthetakafulindustry.

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16:00 Session 4: Retirement Plan • Demographicchanges• Determiningkeyfocusareas• Measuringreadiness

Session 5: Becoming large and Specialised Risks (lSR) takaful operator • Insuranceandtakafulmarketscenario• Gapsandopportunities• Criticalsuccessfactors

16:30 Session 6: Managing and Prioritising Critical Business Risks and Solvency Challenges • Newriskchallenges• Adequacyofaddressingrisksassociatedwithtakaful

operations• Evaluatingsolvencyfortakafulundertakings• Rolesofratingagencyfortakaful/retakafulundertakings

17:30 Endofsession

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10:45 Session 1: the Regulatory Framework

11:00 Session 2: A greater Role for Islamic Finance in the global Economy• AnEconomicOutlook:HowIslamicfinancecancontributetowards

meetingcapitalneeds• LookingatgrowthcentresandconduciveregionstoconductIslamic

financetransactions

11:45 Session 3: Sukuk as a Viable Fund Raising option

12:15 Session 4: Islamic Fund Management• ProspectsinIslamicFundManagement• ListingofIslamicREITS


14:30 Session 5: Islamic Fund Management• IslamicWealthManagement• BusinessTrusts• RiskSharingFundStructures

15:45 Networking&Refreshment Venue:ConferenceHall1&Pre-functionArea

16:00 Session 6: Product Development in Islamic Finance • PromotingShariah-basedinstruments• Alternativestrategiesfunds• Privateequity,venturecapitalandangelinvesting• Developingwaqfassets

17:30 Endofforum

IntERnAtIonAl ISlAMIC CAPItAl MARKEt FoRuMVenue: Training Room 2.1 - 2.2


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11:30 Session 1: Islamic Project Financing - Benefits and Challenges for SMEs

• ThebenefitsofIslamicfinanceforSMEs• Overcomingchallengeswithoutcompromisingprofitmargins• Harnessingbusinessandmaximisingopportunities


14:30 Session 2: Working Capital and trade Financing - Practical Case Study for SME Financing• HowSMEscantacklelegal&taxchallengesinIslamicfinancingin

theircross-borderbusinesstransactions?


16:00 Session 3: growth trajectory for SME - Preparing for listing and Cross Boundaries• LatestdevelopmentsinpoliciesandinitiativessupportingSMEs• Trendsincross-borderfundingforSMEs• Opportunitiesandchallengesmovingforward

17:30 Endofsession

SMEs WoRKSHoP: lEVERAgIng on ISlAMIC FInAnCIng oPPoRtunItIESVenue: Training Room 2.1 - 2.2

SeekstoaddressissuesfacedbyIslamicbankinginstitutionsindevelopinganicheandattainingcompetitiveedgeinsocially-inclusiveandentrepreneurialbanking–SMEsandmicrofinancing.

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Documents

Internationalisation of Islamic Finance: Bridging … · Internationalisation of Islamic Finance: Bridging Economies ... • Why do banks fail? ... Successful Islamic Microfinance