Sukuk (Islamic bond) is now becoming an internationally acceptable capital markets instrument. Sovereigns such as the UK Treasury and the Japanese Ministry of Finance are now seriously exploring the potential use of the Sukuk as a debt management tool in the wholesale sterling and yen markets. The World Bank and the International Finance Corporation have already issued two local currency papers in Malaysia.
The biggest potential is in the quasi-sovereign (utilities) and both rated and unrated corporate issuances, as companies and banks seek to raise finance to fund expansion, refinancing existing more expensive debt, or for general balance sheet purposes. Sukuk could also be an ideal financing tool for infrastructure development and project financing.
Speakers at this focused seminar include:
• Mushtak Parker, Editor of Islamic Banker Magazine, one of the foremost journals in the industry with a global circulation in the major Islamic Financial institutions
• Richard Thomas Managing Director, Global Securities House (UK) Ltd. Richard has a long and distinguished career in Islamic finance and has recently incorporated GSH (UK) Ltd in London on behalf of Global Securities House of Kuwait and Securities House KSCC. GSH is a leading provider of Islamic Finance solutions to a wide client base, and is currently involved in significant expansion into overseas markets. Richard is a member of the UKTI Financial Services Advisory Board (FSSAB) and chairs the sub committee on Islamic Financial Services.
• Stella Cox, Managing Director with the Dawnay Day Group. Stella, a seasoned Islamic finance practitioner, and her team are responsible for Dawnay, Day's Middle Eastern relationships and, particularly, for transactions that DDCAP enters into with and on behalf of its Islamic clients. DDCAP represents a number of privately owned Middle Eastern organisations in their Islamic financing and investment activity. DDCAP, through its subsidiary DDGI limited (formerly Dawnay, Day Global Investment Limited) has also invested, for its own account, in a number of Islamic financial services initiatives.
• Abradat Kamalpour, Partner in the Finance and Real Estate team of Dechert LLP. Abradat has extensive experience in securitisation, debt capital markets and structured finance transactions. He has been at the forefront of structuring Islamic-compliant capital markets and securitisation transactions, transforming non-compliant structures into instruments acceptable to Islamic investors.
• Alain Raad, Head of Islamic Finance, Merrill Lynch. Alain's primary responsibilities included structuring sukuks, equity derivative products, credit derivatives and other financial products. In addition, Alain was also responsible for developing equity and fixed income structured products as well as, IR and FX derivatives and asset management funds. He also possesses significant experience of major project finance and corporate finance transactions.
• Arshadur Rahman, FSA spent two years in recruitment at Goldman Sachs before joining the FSA graduate programme in 2002. He has since worked as a supervisor on both retail and wholesale firms, as well as spending a year working on the FSA's National Strategy for Financial Capability, aimed a promoting awareness and understanding of, and engagement with financial services by retail consumers. He is currently a supervisor in the Wholesale Banks and Investment Firms Department and a member of the FSA team with responsibility for Islamic Finance. Arshadur Rahman was one of the authors of the FSA paper: "Islamic Finance in the UK: Regulation and Challenges.
• Jill Kwan, FSA who is a Reader at the UK Listing Authority, the division of the FSA which acts as the Competent Authority for listing. She joined the UKLA in 2001 and has worked variously as a Reader and Relationship Manager in the Global Debt Group, Equity Markets Group and Sponsor Supervision Team. Prior to joining the UKLA she worked at the London Stock Exchange in Global Business Development and the Legal Department.
Given the above this seminar presents a rare opportunity to obtain a detailed insight into the workings of Sukuk and the ever growing Islamic finance markets from both key market participants and regulators. For those already engaged in or interested in accessing this vibrant sector this seminar simply should not be missed!
Places to attend this seminar are limited. To ensure that you reserve your seat and avoid disappointment, please register here.
