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The Introduction to Sukuk is designed to provide participants with an overview of Islamic finance including the key basic concepts, and introduction to the Sukuk market, how this market has developed over the last 20 years and provide participants with a basic understanding of how Sukuk structures work.
Learning Outcomes
By completing the programme you will be able to:
- Understand how Islamic finance differs from conventional finance
- Become aware of the key Islamic finance principles and the key and most commonly used Islamic finance structures
- Comprehend how and why Sukuk structures are put together and develop an understanding of the most commonly used Sukuk structures
- Understand the key drivers of growth in the Islamic finance market and why issuers choose to issue Sukuk
Who should attend?
The qualification is intended for candidates who are either entering the fixed income market or who have limited experience and wish to develop a clear understanding of how Islamic financial instruments work.
Certification and Programme Recognition
This course is certified by the International Capital Market Association (ICMA).
ICMA recommends that 4 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.
A Certificate of Attendance will be awarded to those who meet the minimum attendance requirements for this course (minimum 80% of contact hours).
ICMA is a member of the CPD® Certification Service and approved by the Securities & Futures Commission of Hong Kong as provider of Continuous Professional Training (CPT).
Please note that your course certificate of attendance or completion should be sufficient to satisfy any professional development requirements – if you require further evidence, please contact us at education@icmagroup.org
Course Trainer
Mohammed Dawood
The syllabus content is divided into several key topic areas:
Section 1 – Islamic Finance
- An overview of Islamic finance: its beginnings
- Where is Islamic finance today: size, scale, core markets, relevance
- Introduction to Islamic finance: core principles
- How does Islamic finance differ from conventional finance: key differences & what are the some of the
- Similarities
- What are the commonly used Islamic finance structures
Section 2 – Sukuk Market
- Overview of the Sukuk Market
- Trends in the market
- International issuances trends
- Local currency Sukuk markets
- Why issue Sukuk?
- Why is issuance volume skewed towards the GCC?
Section 3 – Understanding the Sukuk Product
- Differences between Sukuk & bond: use of SPVs, underlying assets
- Key considerations in Structuring Sukuk
- What type of assets are used in Sukuk structuring
- Summary of basic Sukuk structures
- Ijara Sukuk
- Wakala Sukuk
- Manafae – revenue generating structure
- Shariah pronouncements & role of Shariah Committees
Section 4 – Commercial Considerations
- Covenants
- Events of default
- Courts & Restructuring
- Rating AgenciesAssessment
Livestreamed Course
ICMA courses are delivered via video conferencing accessed on our digital learning platform, using the most effective pedagogical approaches and incorporating interactive functions like virtual breakout rooms.
The Introduction to Sukuk live sessions are delivered in one 3.5 hour session. You will be given access to the course materials before the live session, and will have access to those for a total of three months from the first live session. During these three months you will have the option to keep working through the course materials at your own pace.
Livestreamed course fees
Members: 700 EUR + VAT (if applicable)
Non-members: 1000 EUR + VAT (if applicable)
For security reasons, delegates who have not registered in advance will not be admitted to the live sessions.
Please note:
- All payments must be made in Euro.
Contact
Should you have any queries, please contact education@icmagroup.or
