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Sukuk Analysis: Dissecting Risks & Recourse – CFA Continuing Education

ABANA is pleased to offer our members special rates on CIFA course for CFA Continuing Eduction* Sukuk Analysis: Dissecting Risks & Recourse. 

Non-CFA holding ABANA Member rate: $300
CFA holding ABANA Member rate: $255

To register, please contact Ms. Zahidah at [email protected].

*As a participant in the CFA Institute ApprovedProvider Program, SHAPE Knowledge Services has determined that this program qualifies for 2 credit hours, including 0.5 hour in the content areas of Standards, Ethics, and Regulations (SER).

About the course

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.

Session 2: Risks and Recourse in Covered & Asset Backed Sukuk: 1 hour. In this session we shift to covered and asset backed Sukuk to compare the risks and recourse.

About the Instructor

Abdulkader Thomas
President & CEO
SHAPE® Knowledge Services

Based in Kuwait, Abdulkader has over 35 years of diversified financial services experience in major markets including Bahrain, New York, London, Los Angeles and Washington, D.C. His areas of activity have included trade finance, real estate finance, securities, and alternative finance at various global and regional financial institutions.

As the general manager of a foreign bank branch in New York, he was responsible for securing the first US banking regulatory approvals of alternative financial instruments in the mortgage and installment credit/sale as banking instruments. Later as the founding member of a de novo Client project, he secured US regulatory approval for profit sharing deposits. Abdulkader has been involved in the successful implementation of these products in the US
market. He is an authority on Islamic deal structures and securities.
Along with his team at SHAPE®, Abdulkader works on projects that include launching de novo Islamic Clients and Islamic banking windows, policies and procedures including Shariah policies, Shariah compliance, product development and structuring. Clients include a diversified universe of financial institutions from North America, the MENA region, Southeast Asia, Africa, and Europe.
He is the co-author of Structuring Islamic Finance Transactions (Euromoney 2005), Islamic Bonds (Euromoney 2004), Sukuk (Sweet & Maxwell 2009), and Managing Funds Flow Risks and Derivatives: Applications in Islamic Institutions (Sweet & Maxwell 2012) and Housing the Nation (Cagamas 2013). He also serves as a director of Alkhabeer Capital in Jeddah. He was chairman and director of Sanabel Investment Co. (formerly Alkhabeer International) in Bahrain. Abdulkader is a member of the international advisory board of the Securities Commission of Malaysia. Abdulkader speaks English, Arabic, French and Spanish.

Education:

  • Master of Arts Law and Diplomacy, The Fletcher School of Law & Diplomacy.
  • Bachelor of Arts Arabic & Islamic Studies, The University of Chicago.

Shariah Board Experience:

  • Bank Muscat Meethaq (Since 2013)
  • Sterling Bank Nigeria (Since 2013)
  • University Bank, USA (Since 2006)

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