Workshop: Islamic Finance Sukuk on June 9.2013
09-Jun-2013
Jordan Securities Commission (JSC) will hold a workshop on “Islamic Finance Sukuk” between June 9 & 10.2013. It will be attended by a number of local & international experts, having legislative, technical & financial expertise in sukuk issues.
The inauguration of the workshop will be attended by the following:
1. Chairman & members of the Shari’a Supervisory Board.
2. Sukuk Board of Commissioners.
3. General Managers of operating banks in Jordan.
4. General Managers of Islamic Insurance Companies.
5. Chairmen of Boards of Directors & Chief Executive Officers (CEOs) of both the Amman Stock Exchange (ASE) & the Securities Depository Center (SDC).
6. Chairman of the Association of Financial Services Companies.
7. A number of Directors of Financial Brokerage Companies.
8. Representatives on behalf of the Central Bank of Jordan (CBJ) & the Ministry of Finance.
9. Some officials from concerned governmental institutions.
Chairman of the (JSC) HE Mr Mohammed Saleh Hourani will inaugurate the workshop & express his happiness to launch the first specialized workshop on “Islamic Finance Sukuk in Jordan”. In general, the Islamic Finance Industry has a good reputation since it has achieved great success & excelled. Furthermore, sukuk is one of the main instruments of this Industry that proved its success & effectiveness in the economies of emerging & developed countries alike. Sukuk is a new channel for investment & a good source for liquidity to finance all types of developmental projects.
HE Mr Hourani will elaborate that Islamic Finance Sukuk has created financial & investment instruments that can be traded among banks & in the financial market creating thus, great investment opportunities. Moreover, sukuk collects savings & directs them to various types of investments effectively, activating the economy & enhancing economic growth, since it has varying terms & types enabling it to fulfill the needs of all economic sectors.
The Workshop will cover a number of issues mainly:
1. The role of sukuk as a financial instrument & how it copes with economic goals.
2. Clarify sukuk’s legislative framework in Jordan & compare it regionally & with other countries.
3. Clarify issues relevant to sukuk such as, Public Sector Issuances & compare these with the Private Sector.
4. Review sukuk credit rating.
5. Clarify how to benefit from sukuk success factors in international financial markets & its application in Jordan.
6. Clarify practical cases of sukuk issuance in foreign markets.
Members of the Sukuk Committee Dr Basel Al-Sha’er & International Sukuk Expert from Trowers & Hamlins Mr Salman Ahmad will be lecturing on:
1. Areas to activate sukuk in Jordan.
2. Role of sukuk in international financial markets.
3. Requirements of sukuk success in Jordan.
4. Factors influencing sukuk international issuances.
5. Factors attracting investments to Jordan.
The “Islamic Finance Sukuk Law No. (30) for the year 2012” has authorized the (JSC) to manage the issuance & redemption of Islamic Sukuk after four economists non-Commissioners members whom are expertise in the Islamic Economy were assigned to the (JSC’s) Board of Commissioners & ever since the “Law” was issued, the Commission prepared instructions to regulate & to govern sukuk to cope with the “Shari’a Law” without violating the Provisions of Legislations & Laws governing & regulating securities in Jordan.