Sukuk Learning Series

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Module 2: Legal Documentation in Sukuk

Module 2: Legal Documentation in Sukuk

Dates:  13, 14, 15 & 16 June 2017 
Venue: Securities Commission Malaysia
Accreditation: SIDC CPE-approved: 10 CPE points

Programme Objective

The programme’s objective is to describe the governing principles, framework and guidelines coupled with best practices on legal documentation in the modern Islamic finance. 

Learning Outcomes

By the end of this programme, participants will be able to:
  • describe the legal and regulatory framework of Islamic capital market;
  • recognize the legal documentation peculiar to Sukuk;
  • explain the guidelines applicable to the Sukuk;
  • explain the best practices and legal documentation of Islamic capital market;
  • explain the legal procedures for sukuk default and its implications; and
  • explain the Shariah review and audit issues.

Methodology

The programme will be delivered using interactive presentations, case studies and discussions to complement the audience’s on-the-job experience. 

Target Audience

Experienced and new professionals or industry practitioners in the capital market, ICM and academia. 

  • Programme Outline

    Programme - Day 1
    8:30 am  Registration
    9:00 am Overview of Legal Framework for Islamic Finance in Malaysia
    • Introduction of Malaysia's Capital Market Master Plan
    • Malaysia International Islamic Financial Centre (MIFC)
    Regulatory Framework for Islamic Capital Market 
    • Definition of regulatory framework
    • Regulatory framework and investor protection
    • Regulatory structure of Islamic capital market in Malaysia
    • Regulatory authorities in Islamic capital market
    • Institutional framework of Islamic capital market in Malaysia
    • Public & private regulatory institutions
    10:30 am Break
    11:00 am Legal Documentation in Sukuk
    • Legislation on Islamic Capital Market
      • ​Capital Market and Services Act 2007
      • Companies Act 2016
      • Islamic Financial Services Act (IFSA) 2013
    Guidelines Peculiar to Sukuk
    • Islamic Securities Guidelines (Sukuk Guidelines)
    • Guidelines on the Offering of Asset Backed Securities
    12:30 pm  End of Day 1
     
    Programme - Day 2 (Continued)
    8:30 am Registration
    9:00 am Legal Documentation in Sukuk
    • The importance of contract documentation
    • General features of Sukuk documentations
    • Issuance and Shariah transaction documentation
    • Challenges in legal documentation of Sukuk
    • The main concerns in Sukuk documentation
    • Shariah and legal compliance
    Legal Documentation and Best Practices
    • Malaysian Code of Corporate Governance
    • Guidelines on Market Conducts and Business Practices for Stockbrokers and Licensed Representatives
    • Guidelines and Best Practices on Islamic Venture
    10:30 am Break
    11:00 am Regional and Global Regulatory Evolutions
    • Legal framework governing Sukuk under different laws
    12:30 pm End of Day 2
     
    Programme - Day 3 (Continued)
    8:30 am Registration
    9:00 am Legal Procedures for Sukuk Default
    • The Legal Framework 
    • Litigation
    • English Courts
    • Arbitration
    10:30 am Break
    11:00 am Legal Implications
    • Mitigating impact of an outcome in contracts
    • Enforceability issues and effects on structuring
    12:30 pm End of Day 3
     
    Programme - Day 4 (Continued)
    8:30 am Registration
    9:00 am Shariah Review and Audit
    • Role of Shariah supervision and audit
    • Shariah supervisory board and its independence
    • AAOIFI standards & the relationship between the auditor and Shariah supervisory board
    10:30 am Break
    11:00 am Shariah Review and Audit (cont.)
    • Mitigating impact of an outcome in contracts
    12:30 pm End of Programme
  • Programme Fees

    Module No. of Modules
    One Module (RM) All Module (RM)
    Sukuk Series 2: Legal Documentation in Sukuk 1500 5000
    *Fees quoted are exclusive of and subject to Goods and Services Tax (GST) of 6%