ANOTHER BATCH OF BRAND NEW TWO DAY BACK TO BACK COURSES BY MUAMALAH DAY ONE 27 JULY 2011 ISLAMIC

C EQUITY INSTRUMENTS & ISLAMIC EQUITY CAPITAL MARKET (10 SIDC CPE points) A Course dedicated to the Islamic Equity Capital Market, filling a gap required by Islamic Equity Capital Market Players whilst very relevant for other professionals

DAY TWO 28 JULY 2011 INTERNATIONAL ISLAMIC ASSET BACKED SECURITIES (10 SIDC-CPE points) Internationalising Malaysian Islamic Securities. Designing structures that appeals to International Muslim Investors whilst securing traditional support from local investors.

Led by Muhammad Zahid Abdul Aziz renowned International Trainer and Consultant on Islamic Finance and the Islamic Capital Market

COURSE FEES DAY ONE ONLY ISLAMIC EQUITY INSTRUMENTS & ISLAMIC EQUITY CAPITAL MARKET RM 950/- PER PARTICIPANT DAY TWO ONLY INTERNATIONAL ISLAMIC ASSET BACKED SECURITIES RM 950/- PER PARTICIPANT COMBINATION FEES COMBINATION DAY ONE DAY TWO BOTH DAYS FEES PER PARTICIPANT RM 950 RM 950 RM1700 SAVINGS RM200

THIS COURSE IS SIDCCPE

VENUE ORGANISED BY

PJ Hilton, Selangor
Muamalah Financial Consulting Sdn. Bhd 17-01, First Floor, DBayu, 21, Jalan Serambi U8/21, Bukit Jelutong, 40150 Shah Alam, Selangor, Malaysia. Tel: 037842 5187, 012 212 5405 Fax: 037842 5201, 7847 3214 Email: muamalah_consulting@hotmail.co m Website http://muamalahconsulting.tripod.c om

ISLAMIC EQUITY INSTRUMENTS & ISLAMIC EQUITY CAPITAL MARKET (Conducted by Muhammad Zahid Abdul Aziz, (All round Islamic Financier and internationally renowned Trainer)
Exploring the universe of Islamic Equity Instruments. What makes an Equity Instrument Islamic? Is Musyarakah the same as a limited liablity company? Is a venture capitalist a practitioner of Musyarakah? Derivatives vs. Arkanul Bai, Are Mortgage Backed Securities Syariah compliant? Are Credit Default Swaps Islamic? Did the Sub Prime Crisis open a window of demand for Islamic investment products? Is the Islamic Equity Capital Market ready for the upsurge in demand? Is the collapse of the International Economic and Financial System imminent? Are Islamic Finance and the Islamic Capital Market ready to fill the vacuum? Are all Preference Shares acceptable? Is a Musyarakah Sukuk based on Musyarakah? In Islamic ABS should you purchase the debt or the asset? Mudarabah Sukuk and the Sukuk Fund. Is the illiquidity of Islamic Equity Instruments because it is not popular or because it is too popular? Is Islamic ETF going to be the next instrument of the century? Can your Islamic Fund invest in Call Warrants, TSRs, Futures and Index futures? How are indices built up? ETFs vs Index Funds. Whose stockscreening rules to follow? Are stockscreening rules permanent?

What makes an Islamic stockbroker? Is share trading gambling? Can an Islamic stockbroker deal in contra trading? Is venture capital equity or debt? What makes venture capital Islamic? Can Islamic Fund Management rise to the occasion? Or will it remain forever in the peripheries? Are the current clients of Islamic Funds only Muslims? Has the potential for Islamic Unit Trusts been exhausted? Will Islamic Private Equity be the next popular capital raiser after Sukuk?

DATE VENUE ORGANISED BY

27th July 2011

PJ Hilton, Selangor
Muamalah Financial Consulting Sdn. Bhd 17-1, First Floor, DBayu,Jalan Serambi U8/21, Bukit Jelutong, 40150 Shah Alam, Selangor Tel: 03-7842 5187, 012 212 5405 Fax: 03 7847 3214, 7842 5201, Email: muamalah_consulting@hotmail.com Website http://muamalahconsulting.tripod.com

THE PROGRAMME
The Course will provide a solid grounding in Islamic Equity Instruments and the Islamic Equity Capital Market. From a discussion on the relevant Syariah principles in the Islamic Equity Capital Market the Course will dissect what makes an Equity Capital Market Instrument Syariah compliant. The various stock screening processes will be examined culminating in an elaboration on Islamic Stockbroking. Islamic venture capital, fund management and private equity.

INVESTMENT

RM950 per participant. Fee is inclusive of lunch, refreshments and course materials. Organizations, which send four or more participants to the Course, shall be eligible for a 10% discount across the board. Special price of RM500 only for all Academicians and Students with Matric cards.
PAYMENT

THE PARTICIPANTS

All Islamic Finance & Investment Professionals. ComplianceOfficers,Remisiers/Officers/Managers/D irectors of Stock Broking Houses, Asset Management Companies and Investment Advisory Companies and Unit Trusts; Fund Managers Investment bankers, commercial bankers, development bankers, Islamic bankers, Central bankers, Product developers, Shariah advisers, Corporate bankers, Corporate Finance Advisers, Economists and Research Personnel, Syariah Advisers and Officers, Lawyers, Accountants, Corporate Advisers, Financial Advisers, Business Managers, Finance Managers Directors of Listed/Unlisted Companies; Managers/Officers of Corporate Organizations and Government Departments and Agencies; Compliance Officers/Managers; Legal Practitioners; Consultants and Researchers; Insurers/Investment Bankers/Merchant Bankers/Corporate and Retail Bankers; Academicians/Accountants/Auditors; and Individuals/Entrepreneurs. THE ORGANIZER Muamalah Financial Consulting Sdn Bhd (Muamalah) comprises a team of former Islamic Bankers with a combined experience of over 30 years in Islamic Banking. To date Muamalah have conducted the following training Courses/ Seminars/ Workshop to the Financial Industry: In-house Courses for Alliance Merchant Bank Bhd, Public Bank Bhd, Bank Islam (M) Bhd, Hong Leong Bank Bhd, Malaysian International Merchant Bankers Berhad. Permodalan Nasional Berhad, Bursa Malaysia Bhd,

Payment should be made by crossed cheque/ bank drafts payable to Muamalah Financial Consulting Sdn Bhd. Receipt will be issued upon receipt of payment. All payment to be paid at least a week before the course date.
CANCELLATION & TRANSFER

A replacement is allowed should a participant is unable to attend. For cancellation received in writing within one week prior to the course date, a 50% refund will be given to the participant. Fees will be refunded in full if written notice of withdrawal is received more than two weeks prior to the course date.

SPEAKERS PROFILE Muhammad Zahid Abdul Aziz Director, Muamalah Financial Consulting Sdn Bhd.
Muhammad Zahid Abdul Aziz holds a Bachelors Degree in Economics from University of Exeter, United Kingdom. After graduating in 1977, he joined an International Accounting Firm, Arthur Young & Co. London office. He returned to Malaysia in 1982 and joined Arab Malaysian Merchant Bank Kuala Lumpur. He joined Bank Islam Malaysia Berhad in 1990 where he pioneered and helped develop Islamic Corporate Banking specializing in Islamic Syndications and Islamic Bond Issuance. His last post at Bank Islam was Senior Manager, Corporate Financing Dept, He has arranged over RM6.0 billion in Islamic Bond Issues during his tenure at Bank Islam. He left Bank Islam in September 2000 to

Maybank Investment Bank Ambank Investment Bank, Federation of Investment Managers Malaysia, EPF and JB
Corp Joint venture Courses with Sabah Law Association, Penang Bar Committee, Universiti Sains Malaysia, and the Malaysian Institute of Accountants

THE PROGRAMME 8.30 am - Registration 9.00 am 10.30 am

Islamic equity Principles Mudarabah & Musyarakah- Classical models thereof. Other Relevant Principles Syariah Rules on Assets Are shares and financial instruments assets?, Arkanul Bai Where do derivatives stand?, Wakalah Principles and rules, Debt Principles Prohibited Elements Riba and Riba transactions Forward sale of currencies Maysir - Are Mortgage Backed Securities Syariah compliant? Gharar Are Credit Default Swaps Syariah compliant? Haram

2.00 pm - 3.15 pm
Principles of Islamic Stockbroking Bursa Malaysia Best Practises Guidelines for Islamic Stockbroking Islamic Margin financing Islamic Venture Capital and Musyarakah Are these so difficult to implement Best Practises for Islamic Venture Capital Companies Islamic Fund Management Structures and principles Wakalah & Mudarabah Islamic Unit Trusts

SC Guidelines for Islamic Portfolio Fund Management

10.30 am 10.45 am - Morning Break 10.45 am 1.00 pm

Sharia compliant Equity Instruments Characteristics required of:

Ordinary shares - Is a limited liability company equal to Musyarakah? Preference shares - Are all preference shares Syariah compliant? Musharaka Sukuk - Are all Musyarakah Sukuk Syariah compliant?, AAOIFI rulings and classical rules Mudarabah Sukuk - Are all Mudarabah Sukuk Syariah compliant? Islamic ABS- What makes ABS Islamic?, Purchase the debt vs Purchase the asset Islamic Real Estate Investment Trusts- Basic rules and parameters Islamic Exchange Traded Funds- What makes ETF Islamic? Call Warrants & Transferable Subscription Rights CPO Futures- Are all futures Syariah compliant Index Futures- Are all index futures Syariah compliant Islamic Indices- How are indices built up?

3.15 Break

3.30

Afternoon

3.30 5.00 pm
Islamic Private Equity Structure Procedures Statistics

Souq AlSila and Tawwarruq Equity or debt?

5.00 pm End
.

Index Funds What are they? Stockscreening

Syariah Advisory Council Securities Commission of Malaysia

5%. 10% and 25% benchmarks; core activities and public perceptions; holdings of newly unapproved counters: rights, bonus and warrants of unapproved counters; Maslahah, Umum balwa, Urf Dow Jones Islamic Market Index, FTSE Islamic Market Index Standard & Poor's Islamic Index

1.00 pm 2.00 pm Lunch

ORGANISATIONS WHICH HAVE SENT PARTICIPANTS TO OUR PREVIOUS COURSES/ SEMINARS/ WORKSHOPS:

INTERNATIONAL ISLAMIC ASSET BACKED SECURITIES

(Conducted by Muhammad Zahid Abdul Aziz, Pioneer in Islamic Capital Market and renowned International Lecturer) Why Asset Backed Securitisation (ABS) and not Sukuk? Basics of ABS obligors,originators, primary sellers. credit enhancements, true sales and bankruptcy remote SPVs, What makes ABS Islamic? Sharia Rules on Assets, What Assets are available for Islamic Securitization? Rules on structuring- batil, gharar and compliant. How to enhance credit Islamically? International Sharia Parameters. One buys the debt or the asset? Which Mortgage Backed Securities is Sharia compliant? Why US Sub Prime MBS failed Sharia Standards? Will a Takaful Company ever issue a Credit Default Swap? International Islamic Asset Backed Structures (IABS) Caravan Sukuk- the truest of sales? Sukuk Intifa- awqaf land and Sharia compliant time share, East Cameron Gas Sukuk tried and tested, an IABS for all seasons? Tamweel True sale in execution, and Sukuk Istithmaar- a Sukuk of convergence? Case Study One- Mastering a Conventional ABS Structure. Crossing international barriers - Case Study Two- Designing an Internationally compliant IABS for AITAB Islamic Vehicle Financing Facilities, Case Study Three- Designing Internationally compliant IABS for Musyarakah Mutanaqissah house financing facilities, General IABS legal and documentation issues- Legal risks and uncertainties. Is the trust concept always acceptable by local laws? Can SPVs always be incorporated? Common Law vs Civil Law, Can ownership of Sukuk assets always be transferred to international SPVs? Which Jurisdictions? Does it matter? Malaysian ABS Guidelines as international benchmarks? Legal, tax and accounting aspects of ABS- has the dust settled? Is International IABS ready to take over from Sukuk? Is IABS the all weather robust instrument of the new decade?

DATE VENUE ORGANISED BY

28th July 2011

PJ Hilton, Selangor
Muamalah Financial Consulting Sdn. Bhd 17-1, First Floor, DBayu,Jalan Serambi U8/21, Bukit Jelutong, 40150 Shah Alam, Selangor Tel: 03-7842 5187, 012 212 5405 Fax: 03 7847 3214, 7842 5201, Email: muamalah_consulting@hotmail.com Website

http://muamalahconsulting.tripod.com

THE PROGRAMME The Course focuses on another popular Islamic Capital Market instrument, with an international flavour to attract international investors whilst retaining local support. With the well known woes of some international Sukuk, International Islamic Asset Backed Securities (IABS) offers itself as a robust alternative Islamic capital market instrument that can weather all storms. Lessons are learnt from international IABS structures that have survived the rough and tumble of laws and markets. Pioneering case studies on how to internationally securitised assets of local flavours such as AITAB vehicle financing and Musyarakah Mutanaqissah house financing. The Participants

INVESTMENT RM950 per participant. Fee is inclusive of lunch, refreshments and course materials. Organizations, which send four or more participants to the Course, shall be eligible for a 10% discount across the board. Special price of RM500 only for all Academicians and Students with Matric cards. PAYMENT Payment should be made by crossed cheque/ bank drafts payable to Muamalah Financial Consulting Sdn Bhd. Receipt will be issued upon receipt of payment. All payment to be paid at least a week before the course date. CANCELLATION & TRANSFER A replacement is allowed should a participant is unable to attend. For cancellation received in writing within one week prior to the course date, a 50% refund will be given to the participant. Fees will be refunded in full if written notice of withdrawal is received more than two weeks prior to the course date. SPEAKERS PROFILE Muhammad Zahid Abdul Aziz Director, Muamalah Financial Consulting Sdn Bhd. Muhammad Zahid Abdul Aziz holds a Bachelors Degree in Economics from University of Exeter, United Kingdom. After graduating in 1977, he joined an International Accounting Firm, Arthur Young & Co. London office. He returned to Malaysia in 1982 and joined Arab Malaysian Merchant Bank Kuala Lumpur. He joined Bank Islam Malaysia Berhad in 1990 where he pioneered and helped develop Islamic Corporate Banking specializing in Islamic Syndications and Islamic Bond Issuance. His last post at Bank Islam was Senior Manager, Corporate Financing Dept, He has arranged over RM6.0 billion in Islamic Bond Issues during his tenure at Bank Islam. He left Bank Islam in September 2000 to form Muamalah Financial Consulting Sdn Bhd, a firm specialised in training and arranging of Islamic financing. He has just returned from Riyadh where he was Islamic Capital Market Consultant to Bank AlBilad. He is presently a post graduate student in Islamic Finance at the International Islamic University Malaysia and at other times an internationally renowned lecturer in Islamic Finance and similar subjects having taught in Dubai, Saudi Arabia, Korea, Brunei, Indonesia and Singapore.

Debt Capital Market Personnel of Banks and Universal Brokers Corporate Banking Personnels Corporate Finance Personnels Investment Bankers / Merchant Bankers; Islamic Banking Officers / Managers Legal Practitioners Fund Managers, Dealers, Remisiers, Asset Managers, Venture Capitalists, Investment Advisers, Analysts, Researchers General Managers/Managers/ Officers of Corporate Organizations, SEDCs, State Agencies, Departments and Corporations; Directors of Listed/ Unlisted Companies Academics and Consultants Accountants / Auditors; and Individuals / Entrepreneurs.
THE ORGANIZER Muamalah Financial Consulting Sdn Bhd (Muamalah) comprises a team of former Islamic Bankers with a combined experience of over 30 years in Islamic Banking. Muamalah conducts the following popular courses for the Islamic financial industry. Two Day International Sukuk Workshop, Islamic Equity Instruments & Islamic Equity Capital Market, Islamic Corporate Financing, & Islamic Legal Documents, Fundamental Muamalat for Islamic Finance and Investment Practitioners, International Islamic Asset Backed Securities, Islamic Financing Restructure, Introduction to Takaful and Introduction to Islamic Economics.

INTERNATIONAL ISLAMIC ASSET BACKED SECURITIES THE ONE-DAY PROGRAMME 8.30 am - Registration 9.00 am 10.30 am Basics of Asset Backed Securitization (ABS) Basics of asset backed Securitization: obligors, originator, primary seller, servicer, issuer, administrator, share trustee, bond trustee Basic structure, credit enhancements, bankruptcy legislations and true sales, bankruptcy remote SPVs Differences with private debt securities Features of Islamic Asset Backed Securitization (IABS) What is Islamic asset backed securitization? Sharia rules on assets Deliberations on what are acceptable assets for Islamic securitization Deliberations on issues of structure, Islamic wise How to enhance credit Islamically 10.30 am 11.00 am - Morning Break 11.0 am 1pm International Syariah parameters

distribution, substitution of assets, governing law & jurisdiction IDB Sukuk Istithmaar 50% benchmark issuance, 25% benchmark issuance Case Study I Understanding a Conventional ABS Structure Study of a precedent conventional asset backed structure and term sheet of securitization of a financial receivable 1.00 pm 2.00 pm Lunch 2.00 pm 3.30 pm Case Study II Designing Internationally compliant IABS for AITAB Islamic Vehicle Financing Facilities. Case Study III Designing Internationally compliant IABS for Musharakah Mutanaqissah Financing Facilities.

3.30pm 3.45pm Afternoon Break 3.45pm 5.00 pm

Purchase of Asset as opposed to Purchase of debt. Mortgage Backed Securities. Why the US Sub Prime Mortgage Backed Securities failed Syariah standards

General Legal And Documentation Issues Legal risks Legal uncertainties Is Trust concept recognised in local laws? SPVs can it be incorporated? SPV Characteristics- independence, bankruptcy remote, which jurisdiction Common law vs Civil law Sukuk assets- can it be transferred? Sukuk assets - tax issues, prohibition on assignments, ownership risks, insolvency clawbacks and true sales, recharacterisation of structure. Listing rules, regulations and tax laws Which jurisdiction?

International Structures Asset Backed Ijara Caravan Sukuk Background, Term Sheet, Structure, Legal & Sharia Issues Documentation Issues, SPVs and Jurisdictions, Asset ownership limitations, True Sale and Economic Control, Sharia Compliant Tranching, Rating Munshaat Forward Lease /Sukuk Al Intifa Awqaf land and Developer, Ownership restrictions, Ijara Ain Mousuffah Bil Thimmah, Time share, Types of Sukuk Intifa, Zam Zam Tower, Darul Al-Qeblah, Madinah, AlSafwa Tower Makkah, East Cameron Gas Structure, Termsheet, US Gas fields, Middle Eastern Structurer Musharaka Structure , Cayman Island Issuer, US Musharaka SPV, GCC & International Sukukholders, Meeting Sharia,legal, tax, bankruptcy, corporate, regulatory, securities laws of multiple jurisdictions First true securitisation Tamweel Structure, Term sheet, Purchase of properties, Istisna purchase, portfolio assets, trust assets, service agency, income

IABS Guideline Examining Guidelines on Issuance of Asset Backed Securities Legal, Regulatory, Tax and Accounting Aspects of ABS Legal, regulatory, tax and accounting perspectives of ABS

5.00 pm - End

REGISTRATION FORM COMBINATION DAY ONE & DAY TWO DAY ONE ONLY DAY TWO ONLY

FEES RM1700 RM 950 RM950

Please Tick

Day One Islamic Equity Instruments & Islamic Equity Capital Market 27th July 2011 Day Two International Islamic Asset Backed Securities 28th July 2011. Venue : PJ Hilton, Selangor
Register now Enrolment is based on First Come First Served Basis. Complete and Return the Registration Form to: Address Telephone E-mail Muamalah Financial Consulting 03-7842 5187, Sdn Bhd 012- 212 5405 muamalah_consulting@hot 17-01, First Floor, DBayu, 21, Fax mail.com Jalan Serambi U8/21, Bukit 03-7842 5201, Jelutong, 40150 Shah Alam, 03-7847 3214 http://muamalahconsulting Selangor. .tripod.com PERSONAL DETAILS N o 1. 2. 3. 4. Details of Participants Name : Designation : *License No: Name : Designation : *License No: Name : Designation : *License No: Name : Designation : *License No: (Photocopy the form for additional participants) Fee (RM)

NRIC: NRIC: NRIC: NRIC G ross Total Less (Discount) Net Total

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Payment Details: I have read and understood the booking terms and conditions. Please

register the abovenamed participants and enclosed please find the required fee. Authorised Signatory signature: Name : Designation : Date :