ISLAMIC FINANCE TRAINING

CONTENTS Why Zemyd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 03 Our Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 04 Flagship Programs i. Islamic Finance Excellence . . . . . . . . . . . . . . . . . . . . 06 ii. Islamic Finance Leadership . . . . . . . . . . . . . . . . . . . . 07 iii. Islamic Finance Executive . . . . . . . . . . . . . . . . . . . . . 08 iv. Product Master Class . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Specialist Programs i. Advance Takaful Principles . . . . . . . . . . . . . . . . . . . . . 12 ii. Effective Sukuk Structuring . . . . . . . . . . . . . . . . . . . . 13 iii. Islamic Asset Management . . . . . . . . . . . . . . . . . . . . 14 iv. Islamic Brokerage & Compliance . . . . . . . . . . . . . . . 15 Corporate Pricing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

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WHY ZEMYD ISLAMIC FINANCE PARADOX Lack of Trained Human Capital | Need for Product Innovation | Better Risk Mgmt Structures The future of Islamic finance industry depends on the core Islamic Banking Asset Growth (US$b) fundamentals of Shari’a principles, product innovation, 1,811 257 compliance and largely on talent and custodian development. 131 89 With the industry growth at 15% and enormous knowledge gap, 1,334 the immediate need for training and development is given high priority by industry leaders. Customers demand from the institutions more informed choices, wide selection of products, better returns and Shari'a compatibility with e-commerce Global Islamic South GCC Rest of Global Islamic Banking Assets 2011 East Asia the world Banking Assets 2013 convenience. The industry faces acute shortage of well-trained Islamic finance professionals. Moreover, Islamic financial institutions require the need of expert implementation in areas of risk management, corporate governance and Shari’a compliance.

TALENT SOLUTIONS We provide knowledge based training and innovative solutions to resolve Islamic finance paradox and the related key issues at all levels. We have encapsulated learning modules which facilitate the learning at all levels, hence driving an organizational learning and change development, through our well thought structured modules revolving around your needs. Our modules are designed and governed in line with international principles of Shari’a, AAOIFI standards and lead to global professional qualifications like IFQ and CIMA from UK. Our facilitators are backed with years of practical experience in various financial industries and are professional trainers, hence giving you a solution that you demand. We furthermore deliberate and engage delegates through institutions’ risk management structures and provide a detailed and critical review of real cases which enables participants to develop reasoning and logical approach to operational affairs and thought leadership advancement.

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OUR METHODOLOGY TALENT GAP IDENTIFICATION

Development and knowledge gaps are identified at all staff level, including management where personnel needs to be trained and developed. Rationally, needs vary at each functional and hierarchy levels; hence our modules are designed with extreme consideration to business needs and offer unparalleled learning for all.

PRACTICAL LEARNING

Modules are knowledge based and sustained with assessments, open discussions, learning videos, and role plays to support practical learning and conceptual alignment. Use of modern technology and a systematic flow of information is established to ensure participants develop with critical reasoning.

GLOBAL TRENDS AND INSIGHTS

A high level engagement is deliberated and we bring to table global industry trends and insights, reinforced with surveys and comparative graphs which ensure an informed strategic alignment, engagement and improved delivery performance.

INDUSTRY BEST PRACTICES

Sharing of industry best practices gives a unique edge to institutions, especially in absence of their own benchmarks. We not only share best practices but also share leading KPIs and KRAs that drive the growth of Islamic finance institutions.

CASE STUDIES BASED LEARNING A stimulating and active learning stratagem which analysis real and complex scenarios to develop analytical thinking and decision making, by ascertaining practices of other institutions and understanding how to tackle multifaceted problems.

COMPETENCY DEVELOPMENT

Our facilitators are vastly experienced and enriched with critical reasoning, hence it is always ensured that the WHY queries of each delegate are addressed in the most appropriate way to ensure a BUY IN, which not only builds reasoning but also develops their key competencies for their own career growth and development.

VALUE RETURN

Delivery value is proven to realize significant positive impact in all areas of corporate excellence, hence improving operational efficiency, principle understanding and strategic alignment, which not only improves staff interaction but also enhances customer satisfaction and loyalty.

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FLAGSHIP PROGRAMS

KNOWLEDGE VALUES > > > > >

Evolution of the Islamic finance industry Adequate knowledge of Shari’a laws pertaining to finance Understanding of Riba and its types Critical analysis of key Islamic finance structures Understanding the roles of various industry regulators

WHO SHOULD ATTEND? Client Relationship Executives Direct Sales Force Staff > Relationship Managers > Wealth Advisors > Functional Team Leaders > >

DURATION: 1 DAY

ISLAMIC FINANCE EXCELLENCE The Islamic Finance Excellence is a rigorous curriculum aimed at producing high caliber professionals with the knowledge and perspective in key areas of Islamic finance that will enhance their business productivity. The program is designed to deliver strong fundamental knowledge on Islamic finance products, the industry trends and in-built product values for successful and effective client relationship management.

PROGRAM MODULES About the Industry > > > >

Why Islamic finance? Understanding the evolution of Islamic banking and finance The development and components of Islamic banking services Comparing Islamic economics with conventional economic model

Shari’a Principles > Commercial ethics > Key principles of Islamic finance

Riba and it’s Prohibition > What is Riba? > Types of Riba > Prohibition of Riba

Shari’a Contracts > Law of Shari’a contracts > Islamic finance contracts

Features Conditions Transaction structure Contemporary issues

Takaful

> Origination of Islamic insurance > Comparison of Islamic insurance with conventional insurance > Principles of Takaful

AED 1,800 USD 500 PER DELEGATE

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KNOWLEDGE VALUES Develop a vibrant strategic understanding of the Islamic finance industry with a thorough commercial acumen > Realize and invigorate the latest Islamic finance industry trends globally and be able to comprehend in their own organization > Understand the distinction between liquidity and risk management while harmonizing the corporate governance and Shari’a principles > Accomplish a level of intense knowledge which will help resonate sustainable growth and business solutions >

WHO SHOULD ATTEND? Executive Management Key Decision Makers > Board of Directors > Business Leaders > Regulators and Supervisors > >

DURATION: 2 DAYS

ISLAMIC FINANCE LEADERSHIP The Islamic Finance Leadership is a comprehensive program aimed at enriching leaders working in Islamic finance industry with the latest market trends and invigorating their thought leadership process. Designed to deliver an evidence-based approach to the evolution of Islamic finance imperatives. It addresses the key strategic challenges and highlights the industry trends, enabling today’s Islamic finance leaders to achieve sustainable growth at their institutions.

PROGRAM MODULES About the Industry > Introduction to Islamic finance industry > Industry paradox > Key trends and insights

Product Innovation > Need for product innovation > Product innovation case studies > Impact of product innovation on sustainable growth

Retail Transformation > Retail market transformation > Role of technology > Operating efficiency

Liquidity Management > Sources of funds > Tools for liquidity management > Contemporary issues

Risk Management > Framework for Risk analysis > Market, credit and liquidity risks > Operational and Shari’a compliance risks

Islamic Corporate Governance > > > >

Islamic finance institutions: The need for a different approach Role of Shari’a advisors and need for external audits Regulatory standards (AAOIFI) AED 8,000 Ethics and responsibilities USD 2,220 PER DELEGATE

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KNOWLEDGE VALUES >

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Be able to assess the nature and scope of the Islamic finance industry in relation to its conventional counterpart Develop an appropriate level of understanding of the main principles of Islamic banking and finance Acquire essential knowledge about the key Islamic financial contracts, as used by the industry Expose the participants to a wider range of Islamic banking and finance instruments available to the industry players Provide an understanding of the primary tools for structuring Islamic financial transactions Be familiarized with the Islamic financial infrastructure , international financial institutions and regulatory bodies

WHO SHOULD ATTEND? > > > > > >

Functional Heads from Business Functional Heads from Specialist areas Product Leaders Treasury and Finance Executives Identified High Potential Talent Succession Leaders

DURATION: 5 DAYS

ISLAMIC FINANCE EXECUTIVE The Islamic Finance Executive program is a leading edge and most sought strategic curriculum that covers Islamic finance from both technical and Shari’a perspectives, leading to the first international qualification benchmark of IFQ - UK. It provides an understanding of the influence of Shari’a in a business context and prepares candidates to deliver key business results in the Islamic finance industry.

PROGRAM MODULES The Basis of Islamic Banking and Finance > Introduction > Islamic banking and finance conceptual framework > Islamic fundamentals

Introduction to Islamic Finance > The history of Islamic finance > The structure and scope of the Islamic finance industry

Industry Paradox > Industry challenges > Trends and insights

Islamic Law of Contracts > > > > > > >

Introduction Islamic teachings related to business The Islamic law of contract Contracts of exchange and usufruct Partnership contracts Wakala (Agency contract) The rules regarding foreign exchange transactions (Sarf)

Financial Techniques Applied by Islamic Banks > > > >

Introduction, sources and uses of funds Predictable return versus profit – loss sharing modes of finance Key Islamic finance contracts Off – Balance sheet contracts

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Islamic Insurance – Takaful > > > > > >

Introduction and types of Takaful undertaking Structure of Takaful undertakings Underwriting surplus and technical provisions Insurance industry considerations Re-insurance and re-Takaful Shari’a governance and compliance

Islamic Asset and Fund Management > > > > > > > > >

Principles and constraints of Islamic investing Islamic fund structures Islamic investing products: Risk – Reward profile The Islamic stock selection process Islamic fund performance Liquidity strategies Structures, marketing and distribution Incorporation , authorization and regulation The Shari’a board and Islamic fund management

Sukuk Market > > > >

Definition, management and characteristics of Sukuk Structuring Sukuk transactions Sukuk: AAOIFI standards Capital market considerations relating to Sukuk

Financial Statements for Islamic Banks > > > > >

Basic principles of accounting – The UK case The Accrual Accounting method Comparative financial statements The need for Islamic accounting organisation (AAOIFI) Conceptual framework of the international financial reporting standards

Islamic Corporate Governance > > > > >

Corporate governance and its relevance to Islamic finance Mechanisms of corporate governance Islamic financial institutions: The need for a different approach Corporate governance implications for Islamic insurance (Takaful) The corporate governance debate

AED 15,000 USD 4,170 PER DELEGATE

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KNOWLEDGE VALUES > > > > >

Learn in depth understanding of specific Islamic finance contracts Understand how various products are structured using key contracts Examine accounting treatments for Islamic finance contracts Review and understand the AAOIFI Shari’a standards for key contracts Be able to tackle product challenges and develop innovative solutions

WHO SHOULD ATTEND? Functional Heads from Specialist Areas Product Specialists > Compliance Executives > Risk Executives > Treasury and Finance Executives > >

DURATION: 2 DAYS

PRODUCT MASTER CLASS The Product Master Class is a comprehensive, customized and specialized training course that helps participants, understand key Islamic finance contracts quickly and in depth. The program allows the participants to get the practical understanding of the subjects through working on case studies based on real life transactions and is taught by expert leaders with wealth of experience in the complex field of Islamic finance helping participants put classroom learning into practical use. The Product Master Classes are available for six (6) key Islamic finance contracts* and is customized according to client requirements.

PROGRAM MODULES Product Master Class: Islamic Finance Contracts > > > > > > >

Law of Shari’a contract Riba and its prohibition Features and conditions of Islamic finance contracts Product structures and legal documentation Contemporary issues and challenges Accounting treatment for finance contract’s transactions AAOIFI standard for Islamic finance contracts

Murabaha

Musharakah

Mudaraba

Ijara

Istisna

Salam

*Each contract is taught as a separate master class. AED 5,000 USD 1,390 PER DELEGATE

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SPECIALIST PROGRAMS

KNOWLEDGE VALUES Understand the principles of risk management in Islam > Learn key Takaful structure and models > Critically evaluate Takaful and conventional insurance >

ADVANCE TAKAFUL PRINCIPLES

WHO SHOULD ATTEND? > > > > > > >

Conventional Insurance Executives Takaful Underwriting Managers Takaful Distribution and Sales Managers Takaful Product Development Managers Re-Takaful Managers Takaful Risk Managers Bancassurance and BancaTakaful Managers

DURATION: 2 DAYS

The Advance Takaful Principles course has a comprehensive curriculum aimed at enriching professionals with the key principles of Takaful and providing them insights into operations of the industry.

PROGRAM MODULES Principles of Islamic Economy > Shari’a principles, governance and compliance > Riba: prohibition and dynamics > Global challenges and Shari’a jurisdictions

Takaful Insights > Origination of Islamic insurance > Islam’s position on insurance and risk management > Comparison of Islamic insurance with conventional insurance

Takaful Structures > > > >

Types of Takaful Takaful structures and models Islamic contracts used in Takaful Responsibility of Takaful operators

Takaful Principles > Distribution of underwriting surplus > Risk mitigation and Takaful claims > Re-takaful

Innovation in Takaful Operations > > > > >

Distribution of takaful products Takaful in banking Takaful in asset management Micro takaful Innovative ideas

AED 8,000 USD 2,220 PER DELEGATE

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KNOWLEDGE VALUES In-depth analysis of Shari’a compliant Sukuk & syndicated finance transactions > Comparative analysis of Sukuk vs. syndicated financing > Understanding the common structures and Shari’a concerns in practice and how these can be overcome > Practical knowledge through case studies, exercises and discussions >

WHO SHOULD ATTEND? > > > > > >

Capital Market Managers Trade Finance Managers Product Development Managers Risk Managers Shari’a Advisors and Researchers Regulators and Supervisors

DURATION: 2 DAYS

EFFECTIVE SUKUK STRUCTURING This course seeks to provide an in-depth analysis of Shari’a compliant Sukuk and syndicated finance transactions, with the specific objective of addressing many key issues that are often not discussed or studied, in order to afford a fuller and deeper understanding of the subject matter.

PROGRAM MODULES Principles of Islamic Economy > Shari’a principles, governance and compliance > Riba: prohibition and dynamics > Global challenges and Shari’a jurisdictions

Understanding Sukuk > > > >

Definition, management and characteristics of Sukuk Capital market considerations relating to Sukuk Sukuk infrastructure AAOIFI standards

Sukuk Structuring > > > > > >

Types of Sukuk Sukuk structures Syndicated finance: Understanding the difference with Sukuk Common violations Issues in Sukuk tradability Case studies

Sukuk Challenges > Comparative analysis of Sukuk vs. syndicated financing > Understanding the common structures and Shari’a concerns in

practice and how these can be overcome

> Practical knowledge through case studies, exercises and discussions > In-depth analysis of Shari’a compliant Sukuk & syndicated finance

transactions

AED 10,000 USD 2,780 PER DELEGATE

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KNOWLEDGE VALUES >

> > > >

Understand the use of Islamic Contracts in structuring Islamic investment funds Learn the role of Shari’a board in Islamic fund management Understanding the governance aspects of Islamic investment funds Learn the challenges faced in applying liquidity strategies to Islamic funds Learn the components of Islamic mutual fund structures

WHO SHOULD ATTEND? > > > > > > >

Conventional and Islamic Fund Managers Investment Risk Managers Compliance Managers Capital Market Managers Fund Distribution and Sales Managers Structuring Advisors and Managers Regulators and Supervisors

DURATION: 2 DAYS

ISLAMIC ASSET MANAGEMENT This course reviews the current market trends and drivers in Islamic funds growth and development. It presents structures of various Shari’a compliant funds including equity funds, exchange traded funds and real estate funds. The participants get to know about roles and responsibilities of various stakeholders under Shari’a governance and structure of Shari’a board.

PROGRAM MODULES Principles of Islamic Economy > Shari’a principles, governance and compliance > Riba: prohibition and dynamics > Global challenges and Shari’a jurisdictions

Introduction to Fund Management > Islamic funds growth & development > Fund organization

Types of Fund Structures > > > > > >

Fixed – income type funds Ijara/Leasing funds Commodity funds Real estate funds Equity funds Exchange – traded funds

Management of Islamic Funds > > > >

Islamic fund performance Liquidity strategies Structures, marketing and distribution Incorporation, authorisation and regulation

Shari’a Compliance and Governance > > > >

Structure of Shari’a board Qualification of Shari’a board Responsibility of Shari’a auditor Responsibility of management and Board of Directors AED 10,000 USD 2,780 PER DELEGATE

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KNOWLEDGE VALUES Review the Islamic brokerage industry’s history and trends > Examine the structure of Shari’a compliant brokerage operations > Understand the critical difference between the Islamic brokerage and conventional brokerage operations > Learn the Shari’a standards pertaining to Islamic brokerage and investments >

WHO SHOULD ATTEND? > > > > >

Stock Brokers Regulators and Supervisors Compliance Executives Settlement and Clearing Members Shari’a Advisors

DURATION: 2 DAYS

ISLAMIC BROKERAGE & COMPLIANCE This course provides an in-depth analysis of Islamic brokerage and trading principles. The program covers key topics including equity selection, investment options and purification compliance for stock brokers and regulators. The participants would examine international best practices and develop critical understanding of Shari’a standards pertaining to Islamic investments.

PROGRAM MODULES Principles of Islamic Economy > Shari’a principles, governance and compliance > Riba: prohibition and dynamics > Global challenges and Shari’a jurisdictions > Stock Market Investments > Evolution of Shari’a compliant stock market transactions > Development of Islamic market indices > Industry trends and insights

Islamic Brokerage Principles > > > > >

Stock selection criteria Trading and settlement Purification of income Financing of investments and broker services AAOIFI Shari’a standards

Compliance > > > > >

Business segments Non-compliant debt, investments and income Monitoring, compliance and challenges Role of Shari’a board Ethical, insider trading and regulatory challenges

AED 12,000 USD 3,330 PER DELEGATE

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CORPORATE PRICING INSTITUTIONAL BENEFITS While our public programs are geographically delivered across GCC, ASIA and MENA region, we offer exclusive value model for in-house delivery with below benefits to the organisations: > Customised programs to match any immediate business needs > Cross-functional engagement leading to strategic alignment > Program impact can be measured with justified ROI > Abridged cost with flexibility of additional delegates > Customised assessments and post training development tools on industry trends > Post training deliverables:

A detailed and organisational specific report highlighting key observations and recommended improvements for people, process and structures ROI evaluation Option for long term engagement Complimentary advisory services

PROGRAMS

DURATION

NO. OF DELEGATES

DAYS

MAXIMUM

01 02 05 02

22 12 16 18

DAYS

MAXIMUM

02 02 02 02

18 16 16 16

FLAGSHIP Islamic Finance Excellence Islamic Finance Leadership Islamic Finance Executive Product Master Class

SPECIALIST Advance Takaful Principles Effective Sukuk Structuring Islamic Asset Management Islamic Brokerage & Compliance

CORPORATE RATES PER GROUP AED

PER DELEGATE COST

USD

AED

USD

5,000 12,500 50,000 7,000

800 3,750 11,250 1,400

230 1,040 3,125 390

AED

USD

AED

USD

65,000 80,000 80,000 110,000

18,000 22,250 22,250 30,600

3,600 5,000 5,000 6,875

1,000 1,400 1,400 1,900

18,000 45,000 180,000 25,000

SERVICE DELIVERY TERMS > The above prices include all program cost except venue and breaks. > A certificate is issued to all attending participant.

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TEL: +971-4-2552041 E-MAIL: [email protected]

www.zemyd.com