financial management

Dsovr bs prps o is , hrouh hs workshop. Udrsdhow Sukuk w d h is cp mrk. B pr o h dsusso o hbs d s Sukuk sruurs, ud xo o h s Sukuk rusd ovrvw o h ssus  Sukuk dus.

Iteatial S Wsp

Examii Iteatial Asset Based s. Asset Baed Sad its Leal & Dmetati Isses

Iteatial S Wsp

Examii Iteatial Asset Based s. Asset Baed Sad its Leal & Dmetati Isses

financial management

S ad Te Wld

Sukuk rrs o rus rs or prpo surs h r vsors  shr o h ss, ud hsh ow d rsks h osur ro suh owrshp. Sukuk s proo o o’s owrshp  d s ousd by  suos d orporos o rs sh. Boh ovo bods d Sukuk r sruurd d wh phys sss h r rvu.Howvr, uk  bod, Sukuk  b dsd ro ovv ppos o is  ors.lvr vrous is prps, Sukuk  b sruurd  svr wys o or h ssu y rr xby d opos o  s ud rqurs. ths pror ors prur sruy o h rv srh o ass Bsd Sukuk vs-à-vs ass BkdSukuk. i s sody roudd  Sukuk Oro d Sruur; ro bs prps o is , hspror w d h is cp mrk, xp h Sukuk ssu pross d dsuss h bsso oporry Sukuk sruurs ud xo o h s Sukuk rus d ovrvw o h ssus Sukuk dus. th workshop w so x h rs o  rsk d urs s w s jursdo purs  iro Sukuk issus.thr w so b  sp so o is aou whh w xpor h s ssus d dvops ou or is Produs d f.

FAcILITATorMuhAMMAD ZAhID ABDuL AZIZ

muhd Zhd srd hs rr   ro our, arhur You & co. lodo o  1977. H rurd omys  1982 d jod arb mys mrh Bk,Ku lupur.H jod Bk is mys Brhd  1990 whr h pordd hpd dvop is corpor Bk, sps is Sydos d is Bod issu. Hs sposo  Bk is ws Sor mr, corpor fDpr. Whs  Bk is Zhd workd s pr o h h rsd h Klia Rm4.4 bo mys Sukuk  1996—bhrk ssu. H hd rrd ovr Rm6.0 bo  isBod issus dur hs ur hr.H  Bk is  Spbr 2000 o or  r spsd r d rr o is  d so  Sc pprovdSyrh advsr or Sukuk.Bw Juy 2006 d mrh 2009 Zhd ws bsd  Rydhs Hd o ivs Bk & Sukuk Oro or a Bdivs copy ld,  cma sd whoy owd subsdryo Sud arb’s Bk a Bd. i apr 2009 h rurd omys o rsu hs poso s   osu.H hods  Bhor’s Dr  eoos ro Uvrsy oexr, Ud Kdo.

oBjEcTIvES

ar h workshop, prps w udrsd:• Sukuk d s s dvop, oy d roy• th Syrh ops udry is f d Sukuk• th os d pross o ssu Sukuk• th Sukuk  dous d s Syrh sps• th Surs cosso’s uds o Sukuk d urrowrshp ssus  Sukuk dus• Sukuk d is aou d s urr ssus

METhoDoLogy

touh bs o h bss o udry Syrh cops, oowdby h bss o Sukuk d o urr s o py. thr wb s suds, roup prsos d pop quzzs o sprps’ rsp o ops.

Who ShouLD ATTEnD

• aous & audors• Bkrs & crd Ors• f corors & f mrs• Sor mrs & mrs• ads• Ohr rsd dvdus

Iteatial S Wsp

Examii Iteatial Asset Based s. Asset Baed Sad its Leal & Dmetati Isses

financial management

courSE ouTLInEDAy onE ASSET BASED Sukuk: LocALudestadi Bd-Abled Islami Fiai Failities

• is Sydos• is fs d h ir R o Rur• is Bod issu• B’ Bh aj (“BBa”) / iss’ Bod issu• Sukuk ijrh• ijrh musyrkh Sruur• ijrh muhh B-tk

udestadi Piipal Feates f Islami Bds ad itsLatest Deelpmets•

Prp urs o Bds• Prp urs o icP’s• Prp urs o imtn’s• Prp urs o musyrkh / mudhrbh Bods• Proj god—ys h sruur d urs o mys’srs is Sovr issu. USD600 o Sukuk ijrh / truscr issu o bh o mys gob Sukuk i.

Issi a Islami Bd/S

• eby o projs or is Bod f• Bs rr or ops o b b o ssu is Bods• th r pross d s o rs• th ssu produr / rqurs• advsors / cosus• Dd oss brkdows• Pr—is Bods vs. covo Bods• Prod k d b o  os ou rs oris Bod issu

Islami capital Maet Exeise / case Std

• copu f Vu o Sodry nos• Ds  is Bod r sh or  po ssur• Ds, rr d ssu h rs musyrkh Bod o b ssudd rdd  h oury

DAy TWo ASSET BASED Sukuk: InTErnATIonAL

• ivs Dr Sukuk mushrk• Sukuk ijr• iDB Sukuk ishr• SaBic/Sec Sud Sukuk• Pk cp exhb Sukuk• Bhr S Sukuk

Asset Baed Iaa – caaa S

Bkroud, tr Sh, Sruur, l & Shr issusDouo issus, SPVs d Jursdos, ass owrshpos, tru S d eoo coro, Shr coptrh, R

Msaat Fwad Lease / S Al Itifa’

awq d d Dvopr, Owrshp rsros, ijr ‘amousuh B thh, t shr, typs o Sukuk i’, ZZ towr, Dru a-Qbh, mdh, aSw towr mkkh

East came gas

Sruur, trsh, US gs ds, mdd esr Sruurrmushrk Sruur , cy isd issur, US mushrkSPV, gcc & iro Sukukhodrs, m Shr,,x, bkrupy, orpor, ruory, surs ws o up jursdos, frs ru surso

Tamweel

Sruur, tr sh, Purhs o proprs, iss purhs,poroo sss, rus sss, srv y, o

oeiew f Isses i Iteatial S Defalts

• aaOffi Sukuk Rus• Oic fqh ady Rus• ass Bsd vs. ass Bkd Sukuk – who survvd?

geeal Leal Ad Dmetati Isses

• l rsks• l urs• is trus op rosd  o ws?• SPV’s –   b orpord?• SPV chrrss – dpd, bkrupy ro, whh jursdo• coo w vs cv w• Sukuk sss –   b rsrrd?• Sukuk sss – x ssus, prohbo o sss,owrshp rsks, sovy wbks d ru ss,rhrrso o sruur.• ls rus, ruos d x ws• Whh jursdo?

Islami Ati

• Syrh ssus  ou is  rsos– issus o roo, sur d dsosur– aou or Wdh Yd Dhh d mudhrbh dposs– Qusos o kd or Suory R-aou or urbhh,BBa, ijrh, d ijrh muh Btk• aou or SPVs d Sukuk mushrk. c w r o  aou Sdrd or ijrh?– th purs vrsus h pr pproh o is aou Sdrds. is aaOffi hd o s ?– Qur bss or is aou. c iroSdrds ssy Syrh dds?– auds us opy wh Sdrds d Syrh– cops o a-su bhh d Uru tjr o supporpr pproh srvs d lqud asss. is rkd ork is?