| 08.30 |
Registration, Networking and Morning Coffee |
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| 09.15 |
Opening remarks from the Chair |
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| 09.30 |
Keynote Address
An Opportunity To Reassess And Strengthen Sukuk As A Core Islamic Banking Product |
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| 10.00 |
Analysing The Risk Profile Of Sukuk As Compared To Conventional Bonds: A “No Surprises” Approach To Investing In Sukuk
• Using a renewed understanding of risk in sukuk to create the perfect investment portfolio for your key
customer
• Ensuring your investors are protected in the event of default by knowing the difference between asset
based and asset backed sukuk
• What to look for in the deal documentation to understand the rights and obligations of the sukuk issuer
and sukuk holder
• Learning about the investor’s perspective of risk in sukuk and the role of sukuk in a diversified investment
portfolio
Mohammed Dawood, Director Capital Markets, HSBC Amanah
Ahsan Ali, Head of Islamic Origination, Standard Chartered SAADIQ
Debashis Dey, Partner Head of Capital Markets and Structured Finance Middle East, Clifford Chance |
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| 11.00 |
Panel Session
New Approaches To Structuring Sukuk: Amid The Unprecedented Level of Recent Sukuk Default, Is It Time For A Fundamental Rethink Of How Sukuk Are Structured?
• Is the current Sukuk model sufficient to support the growth of the Sukuk market?
• Examining the Central Islamic Trustee model: how would it work and what are the advantages and
disadvantages for investors over existing sukuk structures?
• Debating whether the Central Islamic Trustee model would work in the GCC?
• Identifying opportunities for introducing flexibility and efficiency into the sukuk market
Andrew Leamon, Director Trusts and Securities Services, Deutsche Bank
Moinuddin Malim, CEO, Badr Al Islami (Member of Mashreq Group)
Muneer Khan, Partner and Head of Islamic Finance, Simmons and Simmons |
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| 11.45 |
Morning Coffee and Networking Break |
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| 12.15 |
Panel Session
Issuers Corner: A Unique Opportunity To Understand The Challenges And Benefits Of Issuing Sukuk, Direct From The Issuers
Find Out If Sukuk Could Be The Right Way For You To Meet The Next Round Of Capital Requirements
All three of the featured issuers successfully concluded sukuk issuances during one of the most economically challenging years of the last decade:
• Find out how they made the decision to issue debt rather than equity
• Learn how they decided to issue a sukuk rather than a conventional loan
• Discover how to make key decisions on which sukuk structure to apply, and whether the sukuk
will be asset based or asset backed
• Determine what issuers look for in their key issuance partners (arrangers and bookrunners)
Aris Kekedjian, President and CEO, GE Capital Middle East and Africa
Wallace Long, Chief Finance Officer, Abu Dhabi TDIC
Edward Hesson, Manager Corporate and Treasury, Abu Dhabi TDIC
Salem Al Muhairy, Treasury Government Liaison Manager, Abu Dhabi TDIC
Kamal Mian, Head of Islamic Banking, Saudi Hollandi Bank |
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| 13.00 |
Lunch and Networking Break |
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| 14.00 |
Open Forum
A genuinely open opportunity to quiz your expert panel on any of the issues that have been discussed during the day or any other burning sukuk issues you want to raise – delegates have half an hour to put questions to the expert panel. The panel will be made up of a selection of the day’s speakers. |
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| 14.30 |
Fund Managers’ Perspective: Gauging The Potential For Growth In Demand For Sukuk
• Understanding how investors’ perspectives of sukuk have changed over the last year, including
whether there is less demand following the Dubai announcements at the end of 2009
• The implications of the GE Capital and IFC sukuk issuances for the growth of the Islamic
bond market
• Assessing the potential for new sukuk fund launches during the coming months
• Comparing the appeal of sukuk funds vs equity and real estate funds in the current climate
Mohieddine Kronfol, Managing Director, Head of Fixed Income Asset Management, Algebra Capital
Haroon Ahmed, Head of Business Development, Emirates NBD Asset Management Ltd
Gilles Rollet, CEO, Mirabaud Middle East |
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| 15.15 |
Identifying And Overcoming The Challenges Of Restructuring Sukuk: Ensure Maximum Protection For Investors By Understanding The Available Options
• Examining the restructuring options open to issuers of Ijara sukuk
• How are the underlying assets treated in the event of a default or restructuring of Ijara sukuk?
• Comparing restructuring options for Ijara and Musharakah sukuk
Issam Al Tawari, Chairman And Managing Director, Rasameel Structured Finance Company
Dr Mohd Daud Bakar, Shariah Scholar |
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| 16.00 |
How Difficult General Market Conditions Have Exposed The Cracks In Sukuk: Identifying The Structural Issues That Need To Be Clarified To Secure The Future Of Sukuk
• Analysing the impact of the defaults on investor confidence in the Region
• Stress testing sukuk: exploiting this opportunity to lay bare the mechanics of sukuk
• Understanding the underlying causes of sukuk default in Investment Dar and SAAD: what
went wrong and what will be the impact |
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| 16.45 |
Closing remarks from the Chair |
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| 17.00 |
Close |
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*THE TOPICS PRESENTED AND SPEAKERS IN THIS PROGRAMME ARE SUBJECT TO CHANGE WITHOUT NOTICE |