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continuing professional education programmes for accounting and finance professionals
A eie kp Accunin an Finance Peina
ein a cmpeenive inucin Iamic Finance, peene e Maaian Iniue Accunan (MIA) in caain i
e Inenaina Cene Eucain in Iamic Finance (INCEIF),
e a univei in Iamic Finance.
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A key priority that Malaysia has accorded in the
development o Islamic fnance is the investment
in the development o talent and expertise.
This is a vital part o the advancement o Islamic
fnance in terms o strengthening its intellectualunderpinnings o its development.
Tan Si D Zti Ata AzizBan Ngaa Maaysia Gn
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introduction
the mia-inceif cpe programmes
on islamic finance
Venue INCEIF.AnnexeBlock,MenaraTunRazak,JalanRajaLaut,KualaLumpur
deliVery methodology
Lectures,casestudies,andsimulations
Who Will Benefit
Financialcontrollers,accountantsandfnancemanagerswhoaredirectlyinvolvedinIslamicfnance
Seniormanagers,managersandcreditofcerswhoaredirectlyinvolvedinIslamicfnance
Lawyersandlegalofcers Academicians
TrainerswhoareinvolvedintheIslamicbankingtrainingprogrammes Otherinterestedparties
executiVe certificate
AnExecutive CertifcateinFundamentalso IslamicFinancewill beawardedtoparticipantswhohavecompletedaminimumothree(3)workshopswithinaone-yearperiod.
To qualiy or this certifcation, it is compulsory or candidates to completeModule1:ShariahAspectsoBusinessandFinance.
ThiscertifcateisendorsedjointlybyINCEIFandMIA.
certificate of attendance
ACertifcateoAttendancewillbeawardedtoparticipantswhohavecompletedone(1)ortwo(2)workshopsonly.
The Islamic banking and fnancial services industry has experienced signifcant development. From being utilised only in
a handul o Muslim-majority countries, the industry has expanded into a viable and vibrant component o the global
fnancial system. In act, Islamic fnance is under the orethought, as Wall Street and the rest o the world witnessed one
o the biggest crises ever to hit the fnancial landscape in recent times. Conventional banks and insurance companiesrom the US and Iceland to Singapore and Thailand are bracing themselves or allouts rom the turmoil.
However, countries with a robust Islamic fnancial services industry are weathering the storm well. Islamic fnance is, in
act, on the cusp o serious expansion. It is g rowing aster than any other subset o the world banking industry at 1520
percent a year, with assets estimated at USD one trillion. However, Islamic fnance currently makes up less than one
percent o world assets, suggesting a huge room or growth.
With its huge potential, the development o talent and expertise in Islamic fnance and banking is necessary to drive
innovation and to raise the perormance o this industry to greater heights. Realising this, Bank Negara Malaysia
established the International Centre or Education in Islamic Finance (INCEIF)the only university dedicated to Islamic
fnancein 2006, representing Malaysias commitment to sustain and support the uture growth o this industry.
Malaysian Institute o Accountants (MIA) recognising the increasing adoption o Islamic fnance across the globe,
believes that Malaysian accountants must take developments in Islamic fnance seriously as it is becoming an important
component within the fnancial services industry. In light o this, MIA has entered into a strategic partnership with
INCEIF to increase the awareness o Islamic fnance amongst the accounting raternity.
This series o fve continuing proessional education (CPE) programmes or accounting and fnance proessionals is
presented here as the frst phase in this strategic partnership.
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revised
date! rev
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saia apec uine an fnance cmpie
ee maj pa name Iamic Juipuence, Aui &Cmpiance an te Iamic cnac.
beie iiin e equiemen saia incmmecia anacin, i kp i a cvecaeie saia pincipe venin cmmeciaanacin.
Paicipan i e expe e appicain anmecanim e m ie ue saia pincipeuc a muaaa, muaaa, ai iaman aji /ai muaja, muaaka, aam, iina, ijaa, ai a-ina, aauq, iaa, kaaa, akaa, aia,
ijaa an an.
ti kp i expe paicipan e vaiu
apec Iamic bankin pacice a incue eeua an ea equiemen an Iamic ank peae, puc evepmen an ik manaemen.
oBjectiVes
To provide an overview o Shariah compliance review ramework or Islamic fnancialinstitution.
ToprovideplatormordiscussiononissuesrelatingtoShariahbasedondierentIslamicschoolsothought.
Toreviewwhataretheissue sandchallengesot heimplementation oShariahcomplianceandgovernanceinIslamicfnancialinstitutions.
outline
ioco o shh (ilmc Lw) IntroductiontoIslamicterminologies
PrimarysourcesoShariah SecondarysourcesoShariah RulesandobjectiveoShariah
ilmc Commcl Lw Islamiclegalmaxims Islamiclawopropertyandownership
ilmc Lw o Coc Theory/ormationocontract Perormance,breachandremedies
speakers
aoc. Po. d. Mhmoo Mohm s ProessoroLawandIslamicLaw
oBjectiVes
ToexaminethestructureoIslamicfnancialmarkets,instruments,andinstitutions.
To providesthe participants with anunderstanding othe variousfnancialinstrumentsoeredbyIslamicbankingcompanies,therisksassociatedwithIslamicbankingproducts,andthelegalaspectsoIslamicbankingproducts.
Toprovideparticipantswith theknowledge onhowfnancialtransact ionsareaccountedorandreportedbyIslamicfnancialinstitutionsincludingmudaraba,murabaha,ijara,salam,istisna,bba,zakattakaulandsukuk.Auserviewoaccountingisemphasizedasopposedtoapreparerviewtobeinlinewiththeobjectiveothepaper.
ToalsoprovideareviewopracticesandissuesinshariahreviewandauditinginIslamicFinancialInstitutions.
Toprovide participantsall aspectsomanagingan Islamicfnancialinstitution. Includingorganizational development, customer relationshipmanagement, strategic management,fnancialmanagement,channeldistributionmanagement,andethicalissuesinmanagementinaccordancewithShari'ah.
Toprovide participantswith allaspectso riskto whichIslamic fnancialinstitutionsareexposedto,andocusesonidentiying,measuringandmitigatingriskswithinabankingparadigm.
outline
rglo Lgl rqm IslamicBankingAct 1983,Shariah SupervisoryBoard,Taxation andLegalaspectso
Islamicbankingbusiness,MalaysianIslamicFinancialCentre(MIFC)Initiatives IslamicbankingBalanceSheetandIncomeStatement,KeyIndicators IslamicbankingHistoryandcurrenttrendsandlessonsromSub-primeCrisesandCredit
Crunch
dpo Poc Transactiondeposits Investmentdeposi ts
ilmc fcl m Retai lfnancing Enterprisefnancing
ilmc mgm ConceptoriskinIslam,typeoriskacedbyIslamicbanks CapitalManagementunderBaselIIandIslamicFinancialServicesBoard(IFSB)
speakers
Po. d. sl azh rol ProessoroIslamicEconomics&Banking HeadoIslamicBankingDepartment
module 2
ISlAMIc BANkINGPrAcTIceS
module 1
ShArIAh ASPecTSof BuSINeSS AND fINANce
27 August 2009, Thursday26 August 2009, Wednesday
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ti kp ciica examine e naue an e
Iamic capia make an e ucue capiamake inumen.
tpic incue e iica evepmen Iamiccapia make an i e in ecnmic evepmen,an Iamic capia miizain via evea saiacmpian puc in e equi an e make.
ti kp cve e cncep ea, i
eneain, enancemen an iiuin m cnvenina an Iamic pepecive a pa epcee ea pannin. I i a cve eeai ea acain pcee; ea eneainan enancemen u invemen in ecuiie anea eae; in ea pecin u inuance anakau; in pannin e uue u eae, ax aneiemen pannin an in eae iiuin ui an a ineiance.
te ea amek an iue i a e uup a ueu u e ea panne an
cnuan.
oBjectiVes
ToexaminethestructureoIslamiccapitalmarkets,instruments,andinstitutions.
To providesthe participants with anunderstanding othe variousfnancialinstrumentsoeredbyplayersotheIslamiccapitalmarket,therisksassociatedwith Islamiccapital
marketproducts,andthelegalaspectsosuchproducts. Toprovideparticipantswith theknowledgeon howfnancial transactionsare accountedorandreportedbyplayersintheIslamiccapitalmarket.Auserviewoaccountingisemphasizedasopposedtoapreparerviewtobeinlinewiththeobjectiveothepaper.
ToalsoprovideareviewopracticesandissuesinshariahreviewandauditinginIslamiccapitalmarket.
outline
rglo Lgl rqm SecuritiesCommissionsIslamicCapitalMarketMasterPlan RoleoShariahAdvisoryCouncil TrendsinCapital Market
Cpl Molo v h s M Islamicassetsecuritization SovereignandcorporateSukuk RecentAAOIFIstatementonSukuk
Cpl Molo v ilmc eq Shariahstockscreeningmodels Expectedrateoreturn RoleoCAPMinIslamicequityinvestment ShariahIssuesinshortsellingandderivatives
ilmc eq : tp, sc Pomc IslamicUnitTrust IslamicRealEstateInvestmentFunds IslamicExchangeTradedFund
speakers
Po. d. sl azh rol ProessoroIslamicEconomics&Banking HeadoIslamicBankingDepartment
d. Moh-Pl Zl Lecturer,IslamicBankingDepartment
oBjectiVes
Toexaminethedetailsowealthallocationprocesses.
Toprovideparticipantswithanunderstandingothewealthgenerationandenhancementthroughinvestmentsinsecuritiesandrealestate.
ToprovideparticipantswithanunderstandingothewealthprotectionthroughinsuranceandTakaul.
Toprovideparticipantswithanunder standingintheplanningort heuturethroughe state,taxandretirementplan.
Toexposeparticipantstovariousfnancialinstrumentsoeredbyplayersotheindustry,therisksassociatedwiththemandthelegalaspectsosuchproducts.
Toprovideparticipantswiththeknowledgeonhowthesefnancialtransactionsareaccounted
orandreported.Auserviewoaccountingisemphasizedasopposedtoapreparerviewtobeinlinewiththeobjectiveothepaper.
ToalsoprovideareviewopracticesandissuesinshariahreviewandauditinginIslamicwealthplanning.
outline
Wlh om Covol ilmc Ppcv Conceptowealth;ownership,rightstouseandspending Generation,accumulation,enhancement,purifcationanddistributionowealth DierencesbetweenconventionalandIslamicwealthplanning Investmentchannels Stockscreeningprocess
ic tl schm
RoleoTakaulinwealthplanning FactorsaectingtheneedorTakaul TakaulConceptsandModels InsuranceandTakaulProducts DierencesbetweenInsuranceandTakaullaws
F oo o e Plg SourcesoIslamiclawonestatedistribution E ligibleHeirs Tenets,conditions,impedimentsandexclusions Sharesinestatedistribution
Wlh Pfco ilm Zakat Waqa Voluntarydonations(Sadaqah)
speaker
Po. d d. s Ohm alhh ChieAcademicOfcer&DeanoFaculty HeadoTakaulandWealthPlanningDepartment
module 4
ISlAMIc WeAlThPlANNING
module 3
ISlAMIc cAPITAlMArkeT
15 October 2009, Thursday29 September 2009, Tuesday
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ti kp pvie an uneanin Iamicecnmic cniein e impicain eappicain saia a e ecnmic anfnancia em.
te kp a uie caniae in uneanine cncep, evuin an e cpae venancein a make-ae ecnm, epecia in e cae e Iamic fnancia evice inu.
oBjectiVes
ToprovideparticipantsanoverviewoIslamiceconomybyhighlightingt hedierentwork s
oMuslimscholarsinthefeld.TohighlightontheimportanceoIslamicworldviewtoeconomics.
TocomparetheIslamiceconomicsystemwithothersystems.
ToprovideaclearexplanationabouttheconceptomoneyromIslamicpointoviewandtoexaminethenatureandscopeoIslamiceconomicsanditsrelationshipwithconventionaleconomics.
Toappreciatetheimportanceosel-governancecoupledwithcompliance(Shariahandnon-Shariah),bestpracticesandstrategicalignmenttolongtermshareholdersandinvestorvalue.
outline
ilmc ecoomc ObjectivesoShariahandprovisioningprocess
WorldviewoIslamandtheroleoindividualandcommunityindefningrationality Theroleomarketsandeconomicdecisionmakingassocialconstructs
ehc Govc Islamicethicsandtheroleovicegerency
EthicalprincipleandtheroleoShariah
GovernanceromIslamicperspectives. Theroleosel-governanceoversightandregulationsonmarketeconomies
peaker
Po. d. s al Hm alJProessoroAppliedFinanceHeadoEconomics&GovernanceDepartment
module 5
ISlAMIc ecoNoMIcS,eThIcS AND GoverNANce
speakers profile
PrOFessOr datuk dr. syed OtHMan aLHabsHi
Chie Academic Ofcer & Dean o Faculty Head o Takaul and Wealth Planning Department
Pro.DatukDr.SyedOthmanAlhabshijoinedINCEIFasProessoroIslamicEconomics&EconometricsandHeadoTakaulFacultyinMarch2007.SinceJuly2008,hehasbeenpromotedtothepositionoChieAcademicOfcerandDeanoFaculty,INCEIF.HeholdsaB.Ec(Hons)inStatisticsromUniversityoMalaya,M.S.(Statistics)rom
UniversityoWisconsin,U.S.A.andPh.D.inEconometricsromUniversityoBirmingham,U.K.Since1969,hehasservedinvariousacademiccapacitiesinourpublicuniversitiesinthecountry,namelyUniversityoMalaya,UniversitiKebangsaanMalaysia,InternationalIslamicUniversityMalaysiaandUniversitiUtaraMalaysia.InOctobero1997,heservedastheFoundingPresidentandCEOoUniversitiTunAbdulRazakuntilMarch2005,aterservingInstituteoIslamicUnderstandingMalaysia(IKIM)astheDeputyDirector-Generalrom1992to1997.
HeiscurrentlyamemberotheBoardoDirectorsoEtiqaTakaulBerhad;Pak-KuwaitTakaulPteLtdPakistan;MaybankIslamicBerhad;AsiaUnitTrustBerhad;PrimaPraiSdnBhd.;EpenBinaSdnBhd.;KolejPoly-TechMARASdnBhd.HeisalsoamemberotheCouncilorUniversitiKualaLumpur.HenowsitsonShariahAdvisoryCommitteeorLabuanReinsurance(L)Ltd.;MNRBRetakaulBerhad;MIDFGroupoCompanies;AmanahMutualBerhad(ormerlyknownasMaybankUnitTrustBerhad)andSingaporeUnitTrustsLtd.
Hehasalsobeen appointed asamembero theBoardoTrusteesorYayasanBankRakyat,YayasanWakaMalaysiaandDewanAmalIslamHadhari.HeisalsoaCertifedShariahIndividualbytheSecuritiesCommissionoMalaysia.Hehaswrittenmorethan200papersonvarioustopicsrelatedtoIslam,Economics,BankingandTakaul
andhaswrittenandeditedatotalo12books.
PrOFessOr dr. syed abduL HaMid aLJunid
Proessor o Applied Finance Head o Economics & Governance Departmen t
TheormerPresident&ChieExecutiveOfceroUniversitiTunAbdulRazak,Malaysia,ProessorDr.SyedAbdulHamidAlJunidnowheadstheIslamicFinancialMarketsDepartmentoINCEIF.AholderoaPh.D.romUniversityoWisconsin(Madison),USAandMastersoArtsromStateUniversityoNewYork,USA,Dr.AlJunidisalsoaellowmembertotheMalaysianInstituteoCharteredSecretariesandAdministrators(MAICSA).
Hisareas ointerestinclude ethicsandgovernance,philosophyosocialscienceandeconomics,theory oknowledgeaswellasvalueandvalue-basedleadership.Inwhateversparetimehehas,hedabblesinwritingandpresentingaswellaseditingintellectuallyonrelatedissues.Hiswritingsandpresentationsincludeethicsandcorporategovernance,roleoreligionandspiritualcapitalinbusinessandeconomicdevelopmentaswellasvalueandvaluetransormation.
PrOFessOr dr. saiFuL aZHar rOsLy
Proessor o Islamic Economics & Banking Head o Islamic Banking Department
Pro.Dr.SaiulAzharRoslyiscurrentlyonattachmentatINCEIFastheHeadoINCEIFsIslamicFinancialMarketaculty.HeisalsoProessoroEconomicsattheInternationalIslamicUniversityMalaysia.PriortojoiningINCEIF,hehasservedtheMalaysianInstituteoEconomicResearchasDirectoroResearch.HisareaospecialisationisIslamicfnancialmarkets,whichincludeIslamicbanking,takaul,unittrusts,capitalmarketandfnancialplanning.Inadditiontothis,heisalsocurrentlyanindependentdirectororEONCapitalIslamicBankandtheFederationoMalaysianUnitTrustManagement(FMUTM).
assOC. PrOF. dr. MaHMOOd bin MOHaMed sanusi
Proessor o Law and Islamic Law
Pro.Dr.MahmoodMohamedSanusiwasattachedtotheInternationalIslamicUniversityMalaysiasince1984,
priortohiscurrentpositionatINCEIF.HehaslecturedonIslamicBankingandFinance,TransactionsinIslamicLaw,IslamicFamilyLaw,IslamicConstitutionLaw,IslamicCriminalLaw,IslamicJurisprudence.Hehaspublishedhisworksinsuchreputableacademicjournalsas:InternationalJournaloFinancialServices,ArabLawQuarterly,JournaloMoneyLaunderingControl(CambridgeUniversity),IIUMLawJournal,JournaloRegionalIslamicCounciloSoutheastAsiaandthePacifc,andalsoachapterinInnovation,Regulation,andLegalPerspectiveanIslamicFinanceBookbyEdwardElgarPublication.HehasalsopresentedpapersonIslamicBankingandFinanceatseminarsandconerences,andhasalsoconductedcoursesonIslamicBankingandFinanceinMalaysia,SingaporeandBruneiandSouthArica.
dr. MOHd-PisaL ZainaL
Lecturer, Islamic Banking Department
WhilepursuinghisPh.D.inEconomicsattheSouthernIllinoisUniversityCarbondale,USA,Dr.Mohd-PisalZainalwasaull-timeresearcherwithProject12-WaysSIUCatthesameuniversity.Project12-WaysSIUCispartotheBehaviourAnalysisandTherapyProgramotheRehabilitationInstituteotheuniversity.
Histeachingexperience included servingas anadjunctlecturer,International InstituteoPublicPolicyandManagement,UniversityoMalaya,MalaysiaandGraduateTutoratDepartmentoHealthCareProessionals,SouthernIllinoisUniversityCarbondale,USA.
Dr. Mohd-Pisal has participated and presented papers in proessional meetings and at internationalconerences whichinclude Midwest Economic AssociationAnnual Conerence in Chicago, USA; MissouriEconomic AssociationAnnualConerence inKansas City, USA and Hawaii International ConerenceonBusinessinHonolulu,Hawaii,USA.
2 November 2009, Monday
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ORGANISATION:
INDUSTRY: CONTACTPERSON:
ADDRESS:
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registration form
mia-inceif islamic finance Workshop
administratiVe detailsoNlINE rEgIstrAtIoN:www.mia.g.my
Yes!Pleaseenrolme/weortheollowingworkshop(s):
qShariahAspectsoBusinessandFinance,26August2009(Wednesday)
qIslamicBankingPractices,27August2009(Thursday)
qIslamicCapitalMarket,29September2009(Tuesday)
qIslamicWealthPlanning,15October2009(Thursday)
qIslamicEconomics,EthicsandGovernance,2November2009(Monday)
TRAININGVENUE
INCEIF.AnnexeBlock,MenaraTunRazakJalanRajaLaut,50350KualaLumpur
TIME
9.00amto5.00pm
CLOSINGDATE
Oneweekbeoretheprogramme.
CPEHOURS
YouwillbepresentedwithaCertifcateoAttendanceuponsuccessulcompletionotheprogramme.AsorMIAmembers,CPEhourswillbecreditedintotheMembershipSystemwithin2weeksotheprogrammedate.ToqualiyortheCPEcredithoursandCertifcateoAttendance,participantsarerequiredtoattendtheeventinull.
CANCELLATIONUpon registering, participant(s) are considered successullyenrolledintheevent.Shouldparticipant(s)decidetocanceltheirenrollment;acancellationeewillbelevied.Writtencancellationsreceived:
One (1) week beore the event, a reund ( le ss an administrativechargeo20%)willbemade.
For no-show on the day o the event, no reund wil l beentertained.
Youcansubstituteanalternateparticipant(s)iyouwishtoavoidcancellationcharges.Anydierenceineechargeswillbechargedaccordingly.
Cancelledunpaidregistrationswillalsobeliableorullpaymentotheregistrationee.
DISCLAIMERMalaysian Institute o Accountants(MIA ) reserves the righttochangetheacilitator,dateandtocanceltheprogrammeshouldcircumstancesbeyonditscontrolarises.MIAalsoreservestherighttomakealternativearrangementswithoutpriornoticeshoulditbenecessarytodoso.Uponsigningtheregistrationorm,youaredeemedtohavereadandacceptedthetermsandconditions.
REGISTRATION/ENQUIRY
CALL : RozlineTEL : 03.22799361FAX : 03.22735167EMAIL : [email protected] : MalaysianInstituteoAccountants DewanAkauntan No.2,JalanTunSambanthan3 Brickfel ds,50470KualaLumpur
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malaysian institute of accountants
dewan akauntan
2, Jalan tun sambanthan 350470 kuala lumpur
tel 03.2279 9200
fax 03.2273 5167
web www.mia.g.my