Abdulkader Thomas

Seminar: Credit Risk and Recourse in Sukuk on February 27th in San Francisco, USA

Sukuk Analysis: Dissecting Risks & Recourse - CFA Continuing Education

Asset based Sukuk (Islamic bonds) are the most popular Sukuk in the market. In terms of recourse,
these are unsecured Sukuk. Covered and asset backed Sukuk are less widely used.

In this course, we will analyze the risks of different sukuk structures. The cases guide the delegates to clauses in Sukuk documentation that explain the recourse in deals.

At the end of the course, the delegates will be able to:

• Evaluate how sukuk are distinct from traditional fixed income.
• Analyze credit, legal, and Shariah issues in different types of Sukuk.
• Compare the recourse in asset based, covered and asset backed Sukuk.

Session 1: Sukuk Anatomy and Risk Issues for Asset Based Sukuk: 1 hour. This session
will analyze how regulation, credit and Shariah drive Sukuk structuring.

Case Studies:

• Government of Dubai - This transaction demonstrates how unsecured recourse is
achieved in one of the most common Sukuk structures - Ijarah or lease based. What are
the governing laws for the different documents, and what drives their application?

CIFA Retail Finance Specialist Course, 11-13 June 2014 Chicago

Course overview:

- Enable participants to apply the principles of Islamic finance
- ExamiEnable participants to apply the principles of Islamic finance
- Examine in detail the different Islamic retail banking products offered by Islamic banks in
various jurisdictions including depository and wealth management solutions.
- Analyze different product structures, and other business related issues - regulatory, legal,
marketing and implementation challenges in the US market.
- Compare and contrast the various Islamic products with their conventional financial
equivalents
- At the end of the course, delegates will have a comprehensive understanding of the different
tools applied by Islamic banks to finance retail consumer needs, and will be able to structure
different solutions that are suitable for the US market.
- The course will use discussions, team exercises, and case studies to ensure delegates learn by
doing.ne in detail the different Islamic retail banking products offered by Islamic banks in
various jurisdictions including depository and wealth management solutions.
- Analyze different product structures, and other business related issues - regulatory, legal,

Kuwait and Saudi need to improve Sukuk regulation, expert says

A lack of legislation is seriously hampering domestic issues of Sukuk in Kuwait, forcing companies to go abroad, Abdulkader Thomas, president of consultancy Shape Financial Corp said to Ulf Laessing and Raissa Kasolowsky published on Reuters. A ministerial decree allowing sukuk issued in 2007 was not adequate for the market to flourish, Thomas said. Saudi Arabia would also have to overhaul its legislation for its sukuk market to function more effectively.

Syndicate content