Conference Day Two: Wednesday, 23rd January 2008

09.00 Creating An Effective And Efficient Regulatory Framework

Exploring the developments of Islamic Capital Market
Analysing the increased demand of Shari ah compliant instruments
How to justify the need for an effective and efficient regulatory framework and how to promote cross border transaction of Islamic financial institutions?
Identifying the challenges of developing standards for new products and services

Bilal Rasul
Registrar (Modaraba Companies and Modarabas)
Securities and Exchange Commission of Pakistan

Accessing investors demand for sukuk
A review of different sukuk issuance from around the world — analysing the legal framework and enhancements
Understanding the current infrastructure condition for issuing sukuk in different countries
How to bring the sukuk market in line with modern financial markets while balancing the intricacies of Shari ah rules?
How are the Islamic and conventional financial concepts being applied to allow the issuance of sukuk?

Syed Tariq Husain
President and Chief Executive Officer
Emirates Global Islamic Bank

Shamsun Anwar Hussain
Director, Global Market - Middle East
CIMB Islamic

Comparing risk in sukuk versus other asset class in terms of liquidity risk, credit risks, risk diversification and sharing, etc.
How to form an efficient investment boundary using sukuk? What are the methodologies and risk minimisation strategies for Sukuk market in the future?
Secondary market liquidity and Islamic Repos (Repurchase Agreements) for Sukuk
What will be the opportunity of the adoption of hybrid sukuks (sukuks linked to multiple risk classes? How ready is the market?

Ijlal Ahmed Alvi
Chief Executive Officer
International Islamic Financial Market

Analysing the fundamentals of Islamic Banking and Finance legal framework

Assessing the conflicting legal principles of Islamic banking and finance with conventional system

What are the alternative dispute resolutions available?

Case study on Malaysia s Islamic Banking and Finance legal system in its current form

Ahmad Rizwan Kamarulzaman
Head, Execution & Legal
Mena Financial Group Dubai

How can an Islamic fund achieve absolute return for investors? How well do Shari ah compliant hedge funds perform?
What are the strategies that Shari ah hedge funds use? What are the advantages and disadvantages of each of the strategies?
Could an Islamic fund compete with conventional hedge funds and attract more capital?
What is the impact of the recent credit crisis on Shari ah compliant hedge funds?

Richard Ellis
Co-Chief Executive Officer
Amiri Capital LLP

Examining the launches in the fast growing private equity market and assessing the appetite of MENA investors
Identifying different geographic targets for Islamic private equity and the various exit strategies Predicting the future of Islamic private equity in this region
Role of leverage: can private equity work in an Islamic context?

Kevin Lim
Executive Managing Partner
STIC Investments Inc.

Analysing the current role of REITs in Islamic investing
Examining the differences between conventional and Islamic REITS — Shariah and legal structuring issues in Islamic REITs
REIT listing and cross-border issues
Identifying the future potential of Islamic REITs
Role of sukuks in real estate projects and investments

Understanding legal framework for Islamic products
Analyzing Singapore regulations which impact the development of the Islamic products
Changes made to promote the growth of Islamic banking and finance
The role of MAS

Arfat Selvam
Managing Director
Arfat Selvam Alliance

Steps in structuring a sustainable Islamic Financial institution
Comparing Islamic and conventional finance institutions in terms of product, conceptuality, and underlying laws. Is there any advantage to Shari ah structures?
Basel II compliance — is there any impact in capital requirements?

Leong Sze Hian
Vice President
Singapore Society for Finance Professional

Naoto Nomura
Head of Administration, Real Estate
NDC Investment