2-3 December 2010
JW Marriott Hotel, Jakarta

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Introduction

The Islamic Financial Services Board (IFSB) is organising the 5th IFSB Seminar on Legal Issues in the Islamic Financial Services Industry Seminar from 2 – 3 December 2010 in JW Marriott Hotel, Jakarta, Indonesia. The theme for this year Seminar is Legal Aspects of Islamic Asset Securitisation & Insolvency Regimes. Bank Indonesia is hosting the Seminar.

The IFSB organises a series of annual Seminars on Legal Issues in the Islamic financial services industry, as an impetus for a continuous promotion of awareness of legal risks in the industry and of how these should be managed. Through this initiative, the IFSB engages a broad range of legal practitioners, from banking lawyers, regulators’ counsels, judges, Sharī`ah scholars and leading legal academics, thereby significantly contributing to the development of legal scholarship in the area of Islamic finance, which will help in better appreciating the relevant legal risks.

Shari`ah compliant asset securitisation plays a crucial role in preserving the soundness and stability of the Islamic financial services industry (IFSI), particularly in respect of adding depth and diversification to the Government finance and liquidity management instruments.In this present day, there are various legal issues arise from the challenging but unavoidable interface between the existing positive securitisation laws and Shari`ah rules and principles that underlie all Islamic finance contracts. This contribute as a challenge for the whole global Islamic finance industry as this industry is growing rapidly but where else the legal and regulatory framework is still slow in catching up. In this year’s Seminar, the panel of speakers will deliberate and review on the current practices in Islamic asset securitisation from the perspective of the adequacy of legal framework and to suggest areas requiring further legal reforms.

This one and a half day Seminar is the fifth in the series of the IFSB Legal Seminars. It aims to discuss issues relating to the legal aspects of Islamic asset securitisation and insolvency regimes in the Islamic financial services industry, and is targeting legal practitioners, supervisory and regulatory authorities, market players and international inter-governmental institutions.

The Seminar will discuss the following topics:

  • Sharī`ah Compliance and Legal Framework in Stable Islamic Financial Markets
  • Sharī`ah Compliance and Legal Framework in Emerging Markets
  • Effective Financial Market Regulation and Prudential Supervision of Sharī`ah-Compliant Securitisation
  • Insolvency Regimes: Regulatory and Legal Challenges in Islamic Finance
  • Sharī`ah-Compliant Asset Securitisation: Moving Forward