1-DAY SEMINAR : Practical Approach for Optimum Understanding of Recovery for Islamic Financing www.cert.com.my Recovery For Islamic Financing 16 June 2015 Renaissance Kuala Lumpur Hotel, Malaysia An Integrated Approach and Practical Course on Recovery for Islamic Financing Expert Course Trainers Prof. Dr. Engku Rabiah Adawiah Institute of Islamic Banking and Finance International Islamic University Malaysia Topics to be discussed Recovery From Shariah Perspective Legal And Regulatory Framework For Recovery In Islamic Financing Recovery Process And Procedure For Islamic And Mohd Johan Lee Managing Partner J.Lee & Associates Enforcement Of Securities And Judgments Recovery For Sukuk Accounting Treatment For Recovery Assoc. Prof. Dr. Noraini Mohd Ariffin Head, Department of Accounting International Islamic University Malaysia Ahmad Mukarrami Ab Mumin Head, Shariah Division RHB Islamic Bank “Your Partner in Islamic Finance Training and Development” Day 01 16 June 2015 TUESDAY 0830 Morning Coffee / Registration 0900 Welcome Remarks from the Chair 0900 RECOVERY FROM SHARIAH PERSPECTIVE Salient features of Islamic Finance The dos and the don’ts of Islamic Finance Shariah Principles —Restructuring and Rescheduling —Non-Performing loan (NPL) / Bad loan —Enforcement of judgement Shariah views on Ibra’, ta’widh and gharamah 1000 Tea Break 1030 LEGAL AND REGULATORY FRAMEWORK FOR RECOVERY IN ISLAMIC FINANCING Guidelines on Recovery Approaches to restructuring and rescheduling of Islamic financing facilities Priority of Depositors in Recovering Deposit in the Event of Winding Up of an Islamic Banking Institution Rescheduling and Restructuring financing Legal Provision and IFSA 2013 Roles, Responsibilities and Procedures 11.30 RECOVERY PROCESS AND PROCEDURE FOR ISLAMIC FINANCING Overview of recovery process Islamic financing products and the related documentation Modes of Islamic financing Non-Performing facilities Recovery via enforcement of security Rescheduling and restructuring Good, delinquent and default account Classification of financing account Types of debtors and the need for rescheduling and Reasons for rescheduling and/or restructuring Recovery via Legal means Letter of demand National land code procedures Legal procedures in default and the recovery procedure Documentation and Filing claims in court Action against guarantors Enforcement of Judgment Legal Proceedings 1245 Lunch 1400 ENFORCEMENT OF SECURITIES AND JUDGMENTS Different modes of enforcement available Restructuring and Rescheduling of Financing Facilities How these may be done for Islamic financing facilities Stamp duty and legal fees issues Applicable Laws and Regulations and Related Topics Progress & Growth of Islamic Finance Through Dedicated & Innovative Shariah Compliance Review Process Practical Approach for Optimum Understanding of Shariah Compliance Review for Islamic Financial System About Your Expert Course Trainers 1500 RECOVERY FOR SUKUK Underlying Sukuk structure Classification of Sukuk Ownership of Asset Event of Default Credit Risk Insolvency of Originator Availability of legal structure Restructuring process – extension of time Arbitration process Case Study 1600 Tea break 1630 ACCOUNTING TREATMENT FOR RECOVERY Accounting and reporting standards in Islamic finance Profit Distribution Revenue Recognition Substance over Form Principle in Islamic Finance Probability Principle Time Value of Money Principle 1730 END OF EVENT Course Timing The seminar will commence at 0900 everyday and finish at 1700. Registration will take place at 0830 on Day One. There will be 3 breaks at appropriate intervals for refreshments and lunch. Morning coffee will also be provided at 0830. Prof. Dr. Engku Rabiah Adawiah is currently a Professor at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM). Currently, she is a member of the Syariah Advisory Council (SAC) of Bank Negara Malaysia and Securities Commission Malaysia, and an independent Shariah advisor for Islamic securities issuance, approved by and registered with the Malaysian Securities Commission. She is also a member of Shariah Supervisory Board of Labuan FSA. In addition, she is also a member of the investigation tribunal for the Malaysian Bar Council. She obtained her LLB (First Class Honours) and LLB (Shari’ah) (First Class Honours) from the IIUM. Shortly thereafter, she successfully completed her Masters of Comparative Laws (MCL) with distinction from the same university. She was conferred with PhD in Law (Securities Regulation) from the University of Aberdeen, United Kingdom. Johan Lee is the managing partner of J. Lee & Associates, a medium-size legal firm in Malaysia. He graduated with LLB (Hons) degree and also holds a Master of Comparative Laws degree, a post-graduate Diploma in Shariah and Legal Practice from International Islamic University Malaysia and, a post graduate Diploma in Economics for Competition Law from King’s Collage London. His current practice includes corporate and commercial law, competition law compliance and Islamic corporate finance related matters. He is instrumental in developing Islamic banking, Takaful and Islamic corporate finance documents and exercise for several financial institutions as well as corporate and governmental entities in Malaysia. In 2006, he was a visiting scholar to the Asian Law Centre of the University of Washington. He is currently a shariah consultant to few governmental agencies as well as few government-funded banks and also a member of the Shariah advisory board of a Singaporean Islamic REIT for properties in East Asia offered by a middle east fund management company. He is currently completing his Phd study with Monash University Australia. Assoc. Prof. Dr. Noraini Mohd Ariffin is currently an Assistant Professor at the Department of Accounting, Kulliyyah (Faculty) of Economics and Management Sciences, International Islamic University Malaysia (IIUM) and a Finance Advisor of the Graduate School of Management, IIUM. She completed her PhD in Accounting for Islamic banks from the University of Surrey, England and holds a Masters in Accounting (with distinction) from the University of Dundee, Scotland, and BSc (Econs) Accounting from the University College of Wales, Aberystwyth, Wales. Dr Noraini is also an Associate Member of the Malaysian Institute of Accountants. She has published numerous articles related to Islamic accounting and finance, mainly on Risk Management for Islamic banks and financial reporting of Islamic banks. She has also appeared as a speaker at national and international conferences. Ahmad Mukarrami Ab Mumin is currently heading the Shariah Division, RHB Islamic Bank since 2011. He began his career with CIMB Islamic Bank, and thereafter assumed a managerial position at the Shariah Department in HSBC Amanah before moving to RHB Islamic Bank. Graduated with a Bachelor’s Degree in Shariah & Law from Universiti Malaysia, he pursued and completed LL.M (Business Law) from IIUM before venturing into the industry. More than often, he is invited as a guest speaker and presenter within the area of Islamic Banking and Islamic Capital Market. He also contributes to the education field being an adjunct lecturer for several local and international universities. He has written various articles inwell-known magazines including Islamic Finance News (IFN), Global Islamic Finance Magazine (Ask Shariah Expert Column) and the New Horizon Magazine. Participants are eligible for a 30% DISCOUNT on any CERT Islamic Finance Books purchases during this 2-days workshop. HURRY! CALL us @ +603 41081439 for enquiry and registration web—www.cert.com.my Recovery for Islamic Financing 16 June 2015 Renaissance Kuala Lumpur Hotel EARLY BIRD FEE: Before 28 May 2015 RM1,200.00 + 6% GST = RM1,272 per person REGULAR FEE: After 28 May 2015 RM1,500.00 + 6% GST = RM1,590 per person The fee includes lunch, refreshments, seminar documentation and certificate of attendance. Special group discount - Discount of 10% for 2 participants from the same organisation. Registration details Please complete the form below. Name Email Job title / Position Department Company Address Postcode Phone Fax Approving manager Job title / Position Phone Email (Please photocopy for more participants) How to register How to pay Send all correspondence to: Nuh (Event Coodinator) CERT Events Sdn. Bhd. (665109-H) 277, Jalan Bandar 11, Metro Melawati 53100 Kuala Lumpur, Malaysia. Any queries please contact: Phone : +603 4108 1439 Fax : +603 4106 1549 Send your details by email: [email protected] We will send you a confirmation note on receiving your registration form. Invoice details Seminar fees must be paid before commencement of the programme. All cheques should be crossed and made payable to “CERT Events Sdn. Bhd.” After receiving payment a receipt will be issued. If you do not receive a letter outlining details two weeks prior to the event please contact the event coordinator at CERT Event. Please complete the form below. (Please tell us who we should invoice. It is also helpful for us to have the name of an administrator with whom we can liaise directly.) Contact person for invoicing Job title / Position Email Phone Fax Accomodation Cancellations Hotel is not included in the workshop fee. To reserve accommodation at the event venue, please contact hotel address below: If you are unable to attend, a substitute is welcome at no extra cost. A complete set of workshop documentation and a 50% refund will be given for cancellation received in writing not later than 2 weeks prior to the seminar date. Unfortunately, only a 25% refund and documentation seminar will be given for cancellation received within 2 weeks before programme commencement. Renaissance Kuala Lumpur Hotel Corner of Jalan Sultan Ismail & Jalan Ampang, Kuala Lumpur, 50450 Malaysia. Phone: +60-3-2162-2233 Fax: +60-3-2163-1122 Email: [email protected] Incorrect mailing address If you have received multiple mailings of this brochure or incorrect company details on the address, please accept our apologies. If this occurs, kindly notify us so that we can update our database. web—www.cert.com.my CERT Events Sdn. Bhd. reserves the right to cancel/amend the programme in extreme circumstances. Should this occur, they will endeavour to advise delegates at the earliest opportunity but take no responsibility for any irrecoverable costs on the part of the delegates, eg. air fares, hotel costs. Obviously, attendance fees would, in such circumstances, be fully refundable at the delegate’s option. Copyright ©—CERT Events Sdn. Bhd.
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