ISLAMIC ASSET MANAGEMENT

The Islamic Asset Management course provides a comprehensive overview of asset management and how it

is applied in Islamic banking and finance. This course has a high degree of delegate participation, and will

start with an introductory session on asset management in general, and Islamic asset management in

particular. Having laid out the basics, the different roles and responsibilities such as the fund manager, the

analyst, and the administrator, will be explored in detail. Special attention will be given to the structure, role

and responsibilities of the Shariah Supervisory Board. Following a review of a number of potential fund

structures, delegates will be working in groups on reviewing a number of different case studies based on

actual funds available in the market.

Introduction

Objectives

At the end of the programme, the participants will able to:

Discuss the fundamental elements of Islamic asset management

Explain the various structures and regulations of Islamic funds

Illustrate the operational and technical aspects related to Islamic asset management such as NAV

calculation, redemptions, and subscriptions

Describe the types of funds available in the market and analyse its challenges, structures, and the

comparison with other funds

Course Content

Introduction and review of basic elements of Islamic asset management including the definition of a fund,

investor objectives, the relationship between risk and return, and how funds fit in to the investment

universe;

Fund structures, regulation and listing – A review of the most prevalent organisational structure, as well

as the jurisdictions for listing and regulation will be discussed, including additional disclosure requirements

for Islamic funds;

Fund operations - Subscriptions, redemptions, liquidity requirements, important concepts of operations,

calculation of the Net Asset Value (NAV);

Roles and responsibilities of different parties - Fund manager, analysts, administrators, distributors, and

the Shariah Supervisory Board;

Shariah compliance - Detail role of the Shariah Supervisory Board, their involvement, the approval

process and issues of non-compliance;

Trainer Profile

DR. ZULKIFLI BIN HASAN

Dr. Zulkifli Hasan is a senior lecturer at Faculty of Shari’ah and Law, Islamic Science University of Malaysia

(USIM). He holds various academic positions such as legislation editor for the Malaysian Journal of Shari’ah

and Law, Shari’ah panel for the Institute of Fatwa Management and Research, USIM, one of the speakers

onMuslims Estates Administration for Judicial and Legal Training Institute, Prime Minister’s Department,

journal reviewer for the International Journal of Business and Finance Research, Journal of Corporate

Governance: International Review,

International Journal of Business and Management Science, International Research Journal of Management and

Business Studies, International Journal of Islamic and Middle Eastern Finance and Management, journal of

muamalat, Journal of Muamalat and Finance Research as well as a member of the Advisory Editorial Board of

theShari’ah Law Reports and the Global Islamic Finance Magazine. He also sits as an academic advisor for

Diploma in Takaful for Dar al Hikmah College, Selangor.

Despite his many academic commitments, Dr. Zulkifli is also active in community works, sitting as the Deputy

Chairman, International Affairs Bureau of Muslim Youth Movement of Malaysia (ABIM). In 2013, he

represented Malaysia in the prestigious Young Muslim Intellectuals in Southeast Asia Programme in Japan

organized by Japan Foundation. In 2014, he has been selected as a recipient of a grant to conduct scholarly

research at Fordham University, New York, United States of America by the J. William Fulbright Foreign

Scholarship Board through the Fulbright US-ASEAN Visiting Scholars Initiative.

In term of industrial experiences, he has worked extensively in Islamic finance industry as an advocate and

solicitor, in-house counsel for Bank Muamalat Malaysia Berhad, member of Rules and Regulations Working

Committee for Association of Islamic Banking Institutions Malaysia and member of corporate governance

working committee for Awqaf South Africa. He also underwent internship at Hawkamah, the Institute for

Corporate Governance, Dubai International Financial Centre in 2009 whereby he assisted the Task Force on

Corporate Governance in Islamic financial institutions (IFIs) to develop corporate governance guidelines for

IFIs in Middle East and North Africa (MENA) as well as the Task Force on Environmental, Social and

Governance (ESG) to specifically introduce the S&P/Hawkamah Pan Arab ESG Index for listed companies in

11 MENA markets.

As a Shari’ah Committee Member of Affin Islamic Bank and EXIM Bank as well as a committee member for

the Association of Shari’ah Advisors, Dr. Zulkifli has vast experiences in applied banking and finance including

takaful. As an academic, he has published numerous articles in various academic journals such as Malayan Law

Journal, Shari’ah Law Reports, International Review of Business Research, Journal of International Banking

Law and Regulation, International Journal of Islamic and Middle Eastern Finance and Management, Kyoto

Bulletin of Islamic Area Studies, ISRA International Journal of Islamic Finance and Review of Islamic Econom-

ics andpresented many papers in various conferences both local and abroad. His book entitled ‘Shari’ah

Governance in Islamic Bank’ published by the Edinburgh University Press won the MAPIM Best Publication in

the category of social science in 2013. His research interest include corporate and Shari’ah governance and

regulation in Islamic finance.

refreshments and certificate of attendance (for full participation).

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Centre For Islamic Banking, Finance And Management (CIBFM) is the learning

arm under Autoriti Monetari Brunei Darussalam (AMBD). Established in 2010

as the Centre of Excellence for Brunei Darussalam’s finance industry. CIBFM

is accredited by Brunei Darussalam National Accreditation Council (BDNAC) as

a Training Institution in the field of Banking, Finance and Management; and

all its training programmes are recognised as Value Added Qualifications.

In addition to providing executive education, CIBFM also organizes high profile

and international events in partnership with renowned institutions.

About CIBFM