The 6th Seminar on Legal Issues in the Islamic Financial Services Industry, hosted by the Autoriti Monetari Brunei Darussalam (AMBD), was held on 25 March 2014 in Bandar Seri Begawan, Brunei Darussalam. The Seminar which carried the theme, Innovation in Sukūk Securitisation and Islamic Hedging Instruments: Developments and Challenges was part of the IFSB seminar series on legal issues, and aimed to create awareness on the emerging legal issues, developments and challenges in securitisation and Islamic hedging instruments. Mr. Jaseem Ahmed, Secretary General of the IFSB and Mr. Rosdi Amin Dato Paduka Haji Yaakub, Deputy Managing Director of AMBD delivered the opening and welcoming speeches respectively. The keynote address was delivered by Dato’ Dr. Nik Ramlah Mahmood, Deputy Chief Executive, Securities Commission Malaysia. Asset Securitisation and Sukūk Structuring Growth of Islamic Hedging Instruments: Legal Issues and Challenges Role of Institutional and Central Sharī`ah Boards in Structuring of Sukūk and Islamic Hedging Instruments The Seminar saw the attendance of 147 participants from government, regulatory and supervisory bodies, legal sector and higher learning institutions, from among member and non-member organisations of the IFSB. The Seminar was held as one of the side events during the IFSB Annual Meetings 2014. Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 25/03/2014 6TH IFSB SEMINAR ON LEGAL ISSUES IN THE ISLAMIC FINANCIAL SERVICES INDUSTRY THEME: INNOVATION IN SUKUK SECURITISATION AND ISLAMIC HEDGING INSTRUMENTS: DEVELOPMENTS AND CHALLENGES 08:30 - 09:30 Seminar Registration 09:30 - 10:30 Opening and Keynote Session 11:00 - 12:30 Session 1: Asset Securitisation and Sukuk Structuring This session will discuss the latest developments and progress in legislative frameworks in various jurisdictions dealing with securitisation of assets and structuring of Sukuk. The speakers will share their insights on the innovative structures used for issuing corporate, sovereign and international Sukūk and challenges faced by various legal systems in providing flexibility for these structures. The challenging issues related to rights and obligations of various parties to a securitisation transaction and the impact of insolvency will also be elucidated. Issues related to the conventional regimes adoptability of these structures will also be given due deliberation. 12:30 - 14:00 Lunch and Prayers 14:00 - 15:30 Session 2: Growth of Islamic Hedging Instruments: Legal Issues and Challenges The session will cover the recent innovations of Islamic hedging contracts, while illuminating on the legal challenges faced by Islamic financial services industry in offering such products. The speakers will deliberate on the legal developments and the future direction of Islamic hedging instruments in the wake of global regulatory reforms related to the requirement of central counterparties and exchange traded transactions. 15:30 - 16:00 Coffee Break 16:00 - 17:30 Session 3: Role of Institutional and Central Shariah Boards in Structuring of Sukuk and Islamic Hedging Instruments This session will focus on the role played by Sharī`ah supervisory boards at institutional and national level in providing Sharī`ah advice and governance in structuring, offering and reviewing of sophisticated products such as Sukūk and Islamic hedging instruments. The session will also illuminate recent developments and new approaches related to Sharī`ah governance mechanisms in facilitating development and innovation of these products. Day 2 26/03/2014 09:00 - 09:30 6TH PUBLIC LECTURE ON FINANCIAL POLICY & STABILITY Registration 09:30 - 09:45 Opening Remarks 09:45 - 11:00 LECTURE 1 Islamic Moral Economy and Dynamics of the Development of Islamic Financial Services Industry 11:00 - 11:30 Coffee Break 12:30 - 14:30 IFSB MEET THE MEMBERS INTERACTIVE SESSION & LUNCH 19:30 - 21:00 WELCOME DINNER Day 3 27/03/2014 09:30 - 12:10 24th MEETING OF THE COUNCIL OF THE IFSB 12:10 - 13:00 12th GENERAL ASSEMBLY 13:00 - 14:30 Lunch and Prayers 14:30 - 16:00 9th ISLAMIC FINANCIAL STABILITY FORUM Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) 6th IFSB Legal Seminar Confirmed Speakers
