Tuesday 16 March 2010

Kuala Lumpur, Malaysia


Contribution of Islamic Finance Post Global Financial Crisis

9.00am – 9.30am

Arrival & registration of delegates, guests and media

9.30am – 9.45am

Opening Address by Tan Sri Zarinah Anwar
Chairman, Securities Commission Malaysia

9.45am – 10.00am

Opening Address by Dr Farhan Nizami
Director, Oxford Centre of Islamic Studies (OCIS), UK

10.00am – 10.30am

Keynote Address by HRH Raja Dr Nazrin Shah Ibni Sultan Azlan Muhibbuddin Shah
The Regent of the State of Perak, Malaysia
Financial Ambassador to the Malaysian Islamic Financial Centre

10.30am – 11.00am

Coffee Break

11.00am – 12.45pm

Panel Session 1 – Lessons from the global crisis impacting Islamic finance

The panel will discuss how Islamic financial products could be applied as an alternative to conventional financing, given current issues of:

  • Need for regulation as against free-market
  • Need for protection of the key principles of Islamic finance
  • Ethical financing and risk sharing
  • Standardization of structures; harmonization of Shariah products
  • New approach to ratings – credit, model and other necessary considerations


1. Dato’ Mohd Razif Abd Kadir
Deputy Governor, Bank Negara Malaysia (BNM)
2. Dr Abbas Mirakhor
Former Executive Director, International Monetary Fund (IMF)
3. Abdulkader Thomas
President & CEO, SHAPEâ„¢ Financial Corp, USA and Kuwait
4. Professor Habib Ahmed
Sharjah Chair in Islamic Law and Finance, Durham University, UK

Moderator: Iqbal Khan, CEO, Fajr Capital

12.45pm – 2.15pm

Lunch Break

Format. Each panelist will be given 15-20 minutes to present his/her paper. Thereafter the moderator will open the floor for discussion and Q&A.

2.15pm – 4.00pm

Panel Session 2 – Need for adoption of key principles in Islamic finance

The panel will discuss among others the need to incorporate sound-enabling features to asset backed securities. This includes the need for example, to partition risks by way of embedding legal clarity in true sale of assets to the special purpose vehicle. There is evidence that these practices will be severely restructured or might be disallowed within conventional practices.

  • Should we disallow all off-balance sheet structures backed by liquidity lines from banks
  • The use of SPV’s including trusts to hold assets in a bankruptcy remote manner for investors
  • The right of banks to engage in Murabahah transactions via agency
  • The capacity of banks to hold leasing certificates issued by trusts created on behalf of customers by the bank or an agent of the bank


1. Dr Mohamed Ali Elgari
Professor of Islamic Economics, King Abdul Aziz University, Jeddah.
2. Davide Barzilai
Banking Partner, Norton Rose LLP, UK
3. Andri Aidham Ahmad Badri
Partner, Kadir Andri & Partners, Malaysia
4. Rafe Haneef
Fajr Capital, Malaysia

Moderator: Mushtak Parker, Islamic Banker, London

4.00pm – 4.30pm

Coffee Break

4.30pm – 5.30pm

Interactive Session Contribution of Islamic finance post global financial crisis

The floor will be open for delegates to provide comments and observations relating to the theme, and engage in a Q&A session with all the panelists.


1. Dato’ Mohd Razif Abd Kadir
2. Dr Mohamed Ali Elgari
3. Dr Abbas Mirakhor
4. Prof Habib Ahmed
5. Abdulkader Thomas
6. Andri Aidham
7. Davide Barzilai
8. Rafe Haneef

Moderator: Iqbal Khan

5.30pm – 5.45pm

Concluding Remarks by Tan Sri Zarinah Anwar