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Invitation to Participate in the Sukuk Seminar 2008: Post AAOIFI Pronouncement It is my pleasure to invite you as a participant in the Sukuk Seminar on “Global Sukuk Update: Post AAOIFI Pronouncement” which will be held at Nikko Hotel, Kuala Lumpur on 14 July 2008. This seminar will be organized by Amanie Business Solutions in collaboration with potential corporate sponsors to make this seminar an industry-driven event. The main objective of this Seminar is to provide highlights and updated market information on the latest pronouncement by the Shariah Board of the Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI), Bahrain on Sukuk and its impact on the industry. Sukuk is the most rapidly expanding and significant form of Islamic financing around the globe. It has been reported that the market is currently experiencing a growth pace of Sukuk at 40% per annum which make it as an exceptional phenomenon of an emerging financial product. Only until recently, has the market experienced a glitch on Sukuk products arising from the legitimacy issues of the Shariah principles applied. This problem has resulted in that a significant number of the universe of the Gulf based Sukuk is deemed as non-complaint with the Shariah Principles. The new issuance of Sukuk is also affected by this pronouncement as the number of issuance is declining compared to previous few years. At a time of market confusion as to what actually constitutes a fully compliant Sukuk in the light of the recent Shariah scholars' debate on Sukuk structures, this seminar will provide an updated insight to AAOIFI’s pronouncement on Sukuk as well as AAOIFI Shariah Scholar’s discussion, especially the contentious questions relating to ownership of underlying assets, purchase undertaking which leads to guarantee of capital payments to Sukuk certificate holders and the liquidity facility to smoothen expected periodical profit payment. The Sukuk Seminar will also highlight and discuss the impact and implication from Shariah perspective, market practice, Sukuk rating, tax and legal framework perspective in the light of the AAOIFI pronouncement in February 2008. All of these highlights will be presented by capital market players including regulators, Shariah scholars, captain of industry players and legal practitioners as well as rating personnel. The seminar will also provide a conducive platform to all industry players from both local and international financial institutions who are expected to attend this event. The Sukuk Seminar will essentially offer an excellent occasion for participants to establish networks and to exchanging ideas and perspectives. The Sukuk Seminar is distinctively aimed at keeping the industry well informed about the Sukuk market developments, issues and innovations in the spirit of contributing positive intellectual input to the future direction of the Islamic debt capital markets. A copy of tentative agenda for the seminar is enclosed for your reference. We would appreciate if you can confirm your participation by completing the attached registration form and fax it to +603 2164 1644 or alternatively you can register online at our website ( www.amanie.com.my ). Should you require additional information or assistance, please do not hesitate to contact Ms Farisah or Ms Izleen at +603 2164 1651. We look forward to your participation and seeing you at this unique and timely-event “from the industry to the industry”.
Yours Sincerely, Razi Pahlavi Amanie Business Solutions Sdn Bhd.
Global Sukuk Update: Post AAOIFI Pronouncement” Organised by
Amanie Business Solutions Sdn Bhd 14 July 2008 Hotel Nikko, Kuala Lumpur SEMINAR ITINERARY
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