Stop Press: We will be discussing the recent very shocking “Dana Gas” development which is likely to have wide scale implications for the Islamic finance sector and Sukuk issuance in particular. The trainer has been extensively quoted in the press on this case and is a noted expert on Sukuk default and financial restructurings in the Gulf region. This is your unique chance to get the latest insights on arguably the biggest Islamic finance development in many years.
This one day course is primarily aimed at practising lawyers, but may also be of benefit to others who deal with the structuring of transactions and products and/or prepare documents and negotiate them.
First we consider the essence of a business relationship in Shari’ah; how promises are made, received and acted upon.
Next we look at the wider framework in which such relationships are conducted and the hurdles that arise when rules contrary to Islamic requirements are encountered.
The third session focuses on common obstacles lawyers come-up against in practice and how they should try to navigate around these or avoid them altogether.
We end with a thorough examination of the modern-day murabaha contract. We consider its inherent deficiencies and how lawyers have attempted to overcome them.
Attendees will be invited to explain how they would attempt to deal themselves.
Used in more than 90% of Islamic financing transactions, yet fraught with legal difficulties. We will analyse the original intent behind murabaha and how it is used by financiers in the modern era.
We will examine the inherent conflict faced by lawyers who are required to uphold the spirit of Islamic law (which demands that tangible risks exist in all trades) versus a desire to minimise risk (which invariably a lawyer’s professional obligations will demand).
Attendees will be set a series of problems and asked to indicate which are acceptable or otherwise – and why.