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15 August 2017 (Tuesday), Connexion Conference & Event Centre @ Nexus, Bangsar South, Kuala Lumpur

Fuelling the Growthof Islamic Finance

Going forward, we have identified Islamic wealth management as a new growth area.—DATUK SERI NAJIB TUN RAZAK

With total Assets Under Management potentially reaching USD5 trillion by 2020, the Islamic Finance industry is expected to enjoy explosive growth in the medium term. Fuelling the anticipated phenomenal growth are the rising economies of Muslim countries, which in turn drive demand for shariah-compliant products and services.

Given that Islamic Finance is a key domain for Malaysia, it is vital for Malaysia’s Islamic Finance professionals to continually upskill themselves, to defend our advantage and expand our piece of the pie.

Explore the latest developments on governance, fintech, standards and taxation which are pushing the envelope of Islamic Finance. Discover how you can shape your strategy and leverage innovation to position your organisation and the country in the vanguard of global growth.

OBECTIVES

This conference aims to:

champion good governance and oversight of Islamic

financial institutions in line with global expectations,

while ensuring compliance with Islamic Shariah rules,

bring together leading professionals, regulators and

academia to exchange and share their experiences on

pertinent aspects of Islamic Finance,

explore the latest developments and new frontiers in the

Islamic finance services industry, enable discussion on

current and future concerns and practical challenges,

and share industry practices and solutions.

WHO SHOULD ATTEND

CEOs, COOs, CFOs Chief Marketing Officers Chief Risk Officers Directors & Executives Managers & Senior Executives Lawyers Auditors & Accountants Regulators Shariah Scholars Researchers & Academicians Investors

Fuelling the Growthof Islamic Finance

8.55am DOA RECITAL

9.00am WELCOME REMARKS DR NURMAZILAH DATUK MAHZAN Chief Executive Officer, Malaysian Institute of Accountants

9.15am SESSION 1. PANEL WORLDWIDE CREDIT LOSS ISSUES AND THEIR IMPACT

ON ISLAMIC FINANCE STANDARDS The recent growth of Islamic Finance has led to its increasing

systemic importance in areas such as Islamic Banking, Sukuk markets and macroeconomic policies. However, diverging interests between investment account holders (IAHs) and shareholders raise corporate governance issues which compromise the stability of the Islamic finance system.

At the same time, worldwide credit losses are impacting Islamic finance. Obtaining full disclosure on the requirements (for credit risk) will affect the measurement and comparability of capital buffers, making it more complex to monitor and manage group-wide risks and intra-group exposures. This panel proposes to explore these emerging credit issues to find workable solutions for risk management.

10.30am NETWORKING REFRESHMENTS

11.00am SESSION 2 IMPORTANCE OF SHARIAH AUDIT TRENDS IN

COMPLIANCE High quality Shariah compliance and audit are integral to

good governance and transparency of Islamic financial transactions, where the key thrust is to achieve a high degree of transparency and disclosure in preserving the rights and responsibilities of the parties to a contract. • Shariah auditors must also assess if innovation in Islamic

finance is being undertaken within Shari’ah parameters and tested against the ‘Maqasid al-Shari’ah’ (objectives of the Shari’ah), where the primary objective is the realisation of benefits to the people. This demands that auditors ensure the internalisation and preservation of Shari’ah principles in Islamic financial transactions, both in form and substance in order to ensure that religious and ethical principles are not compromised.

• This session examines the latest developments in Shariah audit and compliance, and also seeks to address the information asymmetry between Islamic banking institutions and depositors/investors. Demolishing information asymmetry is integral to transparency and disclosure, and supports the orderly development and growth of innovative Islamic financial products and services.

11.40am SESSION 3. PANEL THE INVESTMENT ACCOUNT PLATFORM (IAP) Learn more about the current developments in the Investment

Account Platform (IAP), a fintech-backed platform whereby Islamic banking institutions offer Investment Accounts (IA) to investors to facilitate the matching of funds with viable ventures and projects requiring financing.

The IAP is governed by the Islamic Financial Services Act 2013 (IFSA) which distinguishes investment accounts from Islamic deposits, whereby investment accounts are defined by the non-principal guarantee feature. Notwithstanding this, the IFSA provides appropriate protection to investment account holders (IAH) whilst ensuring the stability of the Islamic financial system.

12.55pm LUNCH

2.00pm SESSION 4. PANEL IMPLICATIONS OF MFRS 9 ON ISLAMIC FINANCE

TRANSACTIONS This session explores the impacts of the application of the

classification and measurement requirements of MFRS 9, Financial Instruments, to Islamic financial transactions and instruments.

Specifically, this technical session will look at the implications of MFRS 9 on:• Mark-up in purchase and sale contracts with deferred

payment—Murabaha, Musawama, Bai' Bithman Ajil, and Istisn'a;

• Certificates of undivided interest in assets—Sukuk;• Profit-share in ventures and other partnership-like

contracts—Musharaka, Mudaraba;• Rent in lease contracts—Ijarah;• Fee from agency contracts—Wakalah and service Ijarah,• Profit, profit-share, rent or fee from undivided pro-rata

ownership contracts—Sukuk.

3.15pm SESSION 5 THE 14 SHARIAH STANDARDS Bank Negara Malaysia (BNM) Governor Datuk Muhammad

Ibrahim launched the Educator's Manual (EM) on Shariah standards and operational requirements in 2015. Learn more about the 14 Shariah Standards, which are a key reference in ensuring that talent and practitioners in Islamic Finance are competent in the latest regulatory requirements and recommendations.

3.55pm SESSION 6 TAX TREATMENT OF ISLAMIC FINANCIAL INSTRUMENTS The government has introduced a number of tax and regulatory

measures over the past years with the key aim of providing a ‘level playing field’ whereby Shari'a-compliant products are taxed in the same way as equivalent conventional financial products.

While there is no specific tax legislation governing Islamic financial instruments, the Income Tax Act 1967 (the Act) has made certain provisions on Islamic transactions and various stamp duty exemption orders have been issued to ensure that Islamic financing transactions are not adversely taxed.

Going forward, tax neutrality as well as the tax treatment of profits for Islamic transactions need to be resolved as tax issues typically arise in most countries. Malaysia was among the first markets to accord tax neutrality to Islamic finance instruments and transactions to reduce the cost of transferring assets in Islamic finance and to promote the sector’s growth.

Find out more in this session about how Malaysia is deploying tax policies strategically to develop the Islamic finance sector and support its global growth.

4.35pm NETWORKING REFRESHMENTS

5.00pm END OF CONFERENCE

CONFERENCE OUTLINE

REGISTRATION FORMPlease o the appropriate checkboxes.

ISLAMIC FINANCE CONFERENCE 2017Fuelling the Growth of Islamic Finance

CONFERENCE FEES

Early Bird (on or before 7 July 2017)Member(MIA/ACCA/CIMA/ICAEW/STFI) | RM 848

Non-member | RM 1,060

NormalMember(MIA/ACCA/CIMA/ICAEW/STFI) | RM 1,007

Non-member | RM 1,219

Group of 3 and above | RM 848/person

Academia/Graduates | RM 530

The above programme fee is inclusive of 6% GST.

*For members, please tick where applicable:

ParticipantAssociation

1 2 3

MIA member

STFI member

ACCA member

CIMA member

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Academia /Graduates

CONFERENCE DETAILS & REGISTRATION

15 August 2017 (Tuesday), Connexion Conference & Event Centre @ Nexus, Bangsar South, Kuala Lumpur

Contact : Fara Tel : 03 2722 9194Fax : 03 2722 9009Email : sp@mia.org.my Address : Malaysian Institute of Accountants Dewan Akauntan Unit 33-01, Level 33 Tower A, The Vertical Avenue 3, Bangsar South City No. 8, Jalan Kerinchi

59200 Kuala Lumpur

GST No. : 000955203584

IMPORTANT NOTES:Registration is on a first-come-first-served basis. Only fully completed registration form will be processed.

PROGRAMME FEE • FeeispayabletoMALAYSIAN INSTITUTE OF ACCOUNTANTS • Feeincludescoursematerials,lunchand2teabreaksperday.• Fullpaymentoftheaboveamountshallbemadewithinthirty(30)daysfromthedateofthe

PaymentAdviceoronthedayoftheevent,whicheverearlier.• Admittancemaybedenieduponfailuretomakefullpaymentaspertheaboverequirement.CANCELLATION/ TRANSFERUponregistering,participant(s)areconsideredsuccessfullyenrolledintheevent.Shouldparticipant(s)decidetocancel/transfertheirenrolment,acancellation/transferpolicyshallbeappliedasfollows.a)Writtencancellation/transferreceivedlessthanseven(7)daysfromthedateoftheevent: -Arefund(lessadministrativechargeof20%)willbemade -Unpaidregistrationswillalsobeliablefor20%administrativechargesb)Writtencancellation/noshowonthedayoftheprogramme: -Norefundwillbeentertained -Unpaidregistrationswillalsobeliableforfullpaymentoftheregistrationfee -PartialcancellationisnotallowedYoucansubstituteanalternateparticipantifyouwishtoavoidcancellation/transfercharges. Anydifferenceinfeeswillbechargedaccordingly.

*Please select the participant classification carefully as it determines the fee payable. No alteration will be allowed after the registration is accepted. Terms and conditions apply.

CERTIFICATE OF ATTENDANCE AND CPE HOURS• Upon full attendance of the programme, participants will be issued an “E-certificate”. Participants will

receiveanemailwithadownloadlinkandarerequiredtodownloadthee-certificatewithin30days.Forthispurpose,itisCOMPULSORYtofillintheemailaddressclearly.

• ForMIAmembers,theCPEhourswillbecreditedintotheMembershipSystemwithin2weeksoftheevent.DATA PROTECTIONPersonalDataisgatheredinaccordancewiththePersonalDataProtectionAct2010(Act709).DISCLAIMERTheOrganisers reserve the right to change the speaker(s), date(s) and to cancel the programme shouldcircumstances beyond its control arises. The Organisers also reserve the right to make alternativearrangementswithoutpriornoticeshoulditbenecessarytodoso.Uponsigningtheregistrationform,youaredeemedtohavereadandacceptedthetermsandconditions.

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