Tunis International Forum on Sukuk

Tunis International Forum on Sukuk Organizer: The Tunisian Association for Islamic Economics (ASTECIS) Co-organizers : Islamic Research and Training...
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Tunis International Forum on Sukuk Organizer:

The Tunisian Association for Islamic Economics (ASTECIS) Co-organizers :

Islamic Research and Training Institute (IRTI), Islamic Development Bank (IDB), Jeddah International Shari’ah Research Academy (ISRA),Kuala Lumpur International Islamic Foundation for Economics & Finance (IIFEF),Riyadh Zitouna University,Tunis

November 28t - 29t- 30th 2016, Tunis

The Scientific Committee 1. Dr. Ridha Mohamed Saadallah, President of the Tunisian Association for Islamic Economics 2. Dr. Mohamad Akram Laldin, Executive Director of the International Shari’ah Research Academy, Kuala Lumpur, Malaysia 3. Dr. Said Bouhraoua, Senior Researcher at the International Shari’ah Research Academy, Kuala Lumpur, Malaysia 4. Dr. Turkhan Ali Abdul Manap, Senior Researcher at the Islamic Research and Training Institute, Jeddah, Saudi Arabia 5. Dr. Mohammed Ibrahim Al-Suhaibani, Head of SABIC Chair for Islamic Financial Markets Studies at Imam Mohammed Ibn Saoud Islamic University, Riyadh, Saudi Arabia 6. Dr. Sami Ibrahim Al-Suwailem, Director of Financial Products Development Center, IDB, Jeddah, Saudi Arabia 7. Dr. Monzer Kahf, Professor at Faculty of Islamic Studies, Hamad bin Khalifa University, Doha, Qatar 8. Dr. Abdul-Sattar Khouildi, General secretary of the International Islamic Center for Reconciliation and Arbitration, Dubai, UAE 9. Dr. Hamed Hassan Merah, AAOIFI Secretary General, Manama, Bahrein 10. Mr. Nasser Hideur, Directeur Générale de la banque Al Salam Bank, Algeria

Tunis International Forum on Sukuk International Conference on Sukuk for Job Creation

Research Seminar on Sukuk

Introduction The Tunisian Association for Islamic Economics (ASTECIS) organizes, in cooperation with the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank Group, the International Shari’ah Research Academy (ISRA), the International Islamic Foundation for Economics & Finance of the Muslim World League, and the Zitouna University, an “International Conference on Sukuk for Job Creation” where distinguished Islamic finance scholars and experts will be invited to deliver lectures on various aspects of the Conference theme. In parallel, a one-day “Research Seminar on Sukuk” will be held for the benefit of Ph. D. students and Post-doctoral fellows. The Seminar consists, first, of a teaching session on “Fundamentals of Sukuk” where participants will have the opportunity to review with the assistance of senior scholars and experts the basics of Sukuk issuance and trading. This session will be followed by parallel workshops, where participant young researchers will present and discuss their research works, under the supervision of the scholars and experts attending the Conference.

Tunis International Forum on Sukuk

International Conference on

Sukuk for Job Creation Fighting unemployment is a top priority of economics policies all over the world, but particularly in developing countries. In the case of Tunisia, widespread unemployment, especially among educated youth, represents a nagging issue which endangers the country stability and nascent democracy. Thus, creating enough jobs is an enterprise of a vital importance for the Tunisian society and a necessary condition for its stability and the progress of its democratic transition. Providing work for everyone is required under Shari’a objectives and is also a social responsibility. All efforts should therefore be combined to create the maximum number of work opportunities. To this effect, there is a need to raise funds not only on for-profit basis, but also on social and solidarity grounds. For-profit Investment Sukuk should be complemented with Social and Solidarity Sukuk. The latter Sukuk are based on the concept of temporary donation of funds, where Sukuk are used to finance social project until they reach a self-sustainable stage which allows the Sukuk redemption. The Conference aims at exploring the ways of benefitting from both Investment and Social and Solidarity Sukuk to create jobs and combat unemployment.

Tunis International Forum on Sukuk Research Seminar on Sukuk

Call for Papers The Seminar Topics 1. Shari’a issues related to the issuance and trading of Sukuk 1.1. The reconciliation of Shari’a compliance, particularly compliance with the principle of “No-risk, no gain”, with minimizing risks for Sukuk holders: Is it possible and how? 1.2. Taskik (Islamic Securitization) and the transfer of assets ownership. 1.3. The subsidiarity (at-taba’iah) rule and its consequences on the tradability of Sukuk representing mostly debts and money. 1.4. Sovereign Sukuk between wealth creation and bridging budget deficit, in the light of Shari’a objectives. 2. Economics of Sukuk 2.1. Sovereign Sukuk between wealth creation and bridging budget deficit: An economic perspective. 2.2. Government preference for low cost funding and its impact on the predominance of quasi-debt sukuk. 2.3. Investors’ preference for low risk instruments and its impact on the predominance of quasi-debt sukuk. 2.4. How the demand for sukuk is related to their risk-level? 3. Legal, Regulatory and Fiscal Aspects of Sukuk 3.1. The impact of the legal and regulatory framework on the success of Sukuk issuance 3.2. Protection of Sukuk holders. 3.3. How taxation can ensure a fair competition between Sukuk and bonds? 3.4. Dispute resolution in relation to Sukuk: Arbitration vs. litigation

Tunis International Forum on Sukuk Research Seminar on Sukuk

The Seminar Topics 4.

Operational Aspects of Sukuk Issuance

4.1. Rating of Sukuk: How important is it for Sukuk issuance? 4.2. Is the rating methodology used by international rating agencies compatible with the distinctive characteristics of Sukuk? 4.3. The commercialization of Sukuk: Does the trading of Sukuk in the same market as bonds matter? 4.4.The commercialization of Sukuk: Private placement vs. public offering. 4.5. Role and importance of Arrangement and Underwriting for Sukuk issuance. 5.

Practical experiences of Sukuk

5.1. Sovereign and Quasi-Sovereign Sukuk to finance revenue-yielding infrastructure projects 5.2. Case studies of Shari’a compliant Sukuk 5.3. Case studies of Sukuk not unambiguously Shari’a compliant. 6.

Social and Solidarity Sukuk for Job creation

6.1. Social and Solidarity Sukuk to finance public utilities in villages and small cities. 6.2. Social and Solidarity Sukuk to establish Non-profit foundations geared towards the financing of micro-projects. 6.3. The role of domestic and international financial institutions in supporting the issuance of Sukuk geared towards the financing of high employability projects.

Tunis International Forum on Sukuk Research Seminar on Sukuk

Languages of the Seminar The organizers welcome papers written in one of the following languages: Arabic, French and English.

Papers Submission Guidelines 1.To fall into one of the Seminar topics 2.To be written in Microsoft Word format, Times New Roman font, size 12 for the text and 10 for footnotes 3. Papers should represent original works and are previously unpublished elsewhere 4. Papers length should be within 5000 words 5. Numbering of footnotes should restart on each page 6. Authors should adhere to the usual academic practices for proper referencing and quotation of others’ works.

Important Dates Paper contributors are advised to observe the following deadlines:  Deadline for Sending the Participation Form, a short bio data and a 2-page summary of the paper : Shawal 12th 1437 H July 17th 2016 G  Notification of summaries acceptance : Shawal 22th 1437 H July 27th 2016 G  Deadline for full paper submission :Dhul Hijja 28th 1437 H September 30th 2106 G  Notification of paper acceptance : Muharram 19th, 1438 H October 20th, 2016 G

Tunis International Forum on Sukuk Research Seminar on Sukuk

Contacts  Participation forms and papers should be addressed to: Dr. Ridha Saadallah, President of the Scientific Committee The Tunisian Association for Islamic Economics, Avenue Majida Boulila, Immeuble City Center, Esc. D, 2ème étage, Apart. 6 Sfax 3000, Tunisia Tel: 00216 98 907 501 Fax: 00216 74 418181 Email: [email protected]

Queries related to conference organization should be addressed to:

Mr. Habib Ghorbel, Coordinator of the Organization Committee The Tunisian Association for Islamic Economics, Avenue Majida Boulila, Immeuble City Center, Esc. D, 2ème étage, Apart. 6 Sfax 3000, Tunisia Tel: 00216 22 748 882 Fax: 00216 74 418181 Email: [email protected]  

For registration and more information, please refer to our website at : http://astecis.org/index.php?option=com_content&view=article&id=196% 3A2016-06-14-09-28-47&lang=ar