Legal and documentation issues in Islamic structured finance

Instruction Language

English

Country

United Arab Emirates

English Abstract

Over the last decade Sukuk issuances have grown significantly in both value and volume.

The development of the Sukuk market as a source of raising finance has expanded its appeal to non-Muslim sovereigns and non-Sharia’a compliant entities from its initial spectrum of Sharia’a compliant entities.

As a result of potential Sukuk defaults and a number of key factors pertaining to the structures, the recourse under these structures and its implications have been raised as points of concern.

This new course will illustrate differences between conventional bonds and Sukuk, explaining the key factors pertaining to the Sukuk classification.

The course will discuss in some depth the features of each constituent capital markets document and explain the key Sukuk structures currently used.

Overall, the audience of this course will leave with a substantial knowledge of Sukuk, documentation and Islamic finance structures.

Objectives

- Participants will gain significant knowledge of Islamic finance, grasping the key concepts and principles of Sukuk and the workings of constituent documents. This course is intended for any individual who wishes to understand the key concepts of Sukuk from a structuring and documentation viewpoint. The program is suitable for professionals such as bankers, lawyers, accountants, product developers, investors, fund managers, capital market personnel, private equity professionals, multilateral lenders, central regulators, product developers, and risk managers.

Field work

This course is intended for any individual who wishes to understand the key concepts of Sukuk from a structuring and documentation viewpoint. The program is suitable for professionals such as bankers, lawyers, accountants, product developers, investors, fund managers, capital market personnel, private equity professionals, multilateral lenders, central regulators, product developers, and risk managers.

Features of the course

-Participants will gain significant knowledge of Islamic finance, grasping the key concepts and principles of Sukuk and the workings of constituent documents.

Certificate / Course Program

Day 1 Session 1and 2 : - Definition of Sukuk. - Bonds and Sukuk -a comparison. - Classification of Sukuk. Session 3 and 4 : - Identify the key documents in a bond transaction. - A discussion of key capital markets documents. - Explain the purpose and process of ‘Due Diligence’ in a debt capital markets issuance. Session 5 : -Case Study 1. Day 2 : Session 1 and 2 : - Principal Sukuk structures in use and discussion of key factors in each from a documentary perspective. Session 3 and 4: -Judicial Approach Session 5 : -Case Study 2.