Bringing Islamic Financing To Your Doorstep

Two Day International Sukuk Workshop

5 Day Islamic Banking & Finance Programme @ Sunway Resort Hotel 27 June- 1July 2011
Islamic Equity Instruments/IECM & International IABS 27&28 April@PJ Hilton
Introduction to Islamic Economics & Introduction to Takaful 8 & 9 March PJ Hilton
Fundamental Muamalat & Islamic Corp Financing & Legal Docs
Latest Muamalah in the News
JV with Sabah Law Association- Islamic Corporate Financing & Legal Documents K Kinabalu 10 Aug 2010
Two Day International Sukuk Workshop June 2010
Internationally located Courses ( speaking for Redmoney)
11th & 12th May 2010 Sukuk Workshop JV with Malaysian Institute of Accountants @ PJ Hilton
Fundamental Muamalat Course & Islamic Financing Restructure Workshop 29 & 30 Sept PJ Hilton
13th & 14th April 2010 Fundamental Muamalat & Islamic Financing Restructure Courses
Islamic Corporate Financing & Islamic Legal Documents Course
Two Day International Sukuk Workshop
Islamic Financing Restructure Workshop
Writings on the Wall
Will the real Islamic finance please stand up.
Expatriate Anecdotes
2-day Islamic Bond & ICM Workshop
Kursus Pentadbiran Harta Secara Islam
About Us
Services Provided
Our Clients
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Syariah Advisory
One-day ICM Course Module
One-day ICF Course Module
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Muamalah Soft Skills

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Two Day International Sukuk Workshop

*Another New Course by Muamalah*



Led by Muhammad Zahid Abdul Aziz, Director, Muamalah. Renowned Pioneer in Islamic Capital Market Instruments.


Introduction to Islamic Capital Market Definition, Sources of Hukum, Riba, Maisir, Gharar

Overview of Islamic of Financing Concepts Debt Financing BBA, Murabahah, Istisna’, Ijarah Muntahiah Bit-Tamlik (“IMBT”), Salam, Qardhul Hasan.Mudharabah & Musyarakah, Musyarakah Mutanaqissah, Wakalah, Kafalah, Sarf, Wadiah, Rahn, Bai’, Dayn, Muzayadah, Hibah, Ibra’/ Muqasah, Ittifaq Dhimni, Sukuk, Sanadat, Ujr.

Principal Features of Malaysian Sukuk and its Latest Developments. Baids, ICP’s, IMTN’s, Musyarakah/ Mudharabah Bonds,


Principal Features of International Sukuk and its Latest Developments/ Structures, Termsheets & Outline Legal Docs

  Investment Dar Sukuk Musharakah,

  Sukuk Ijarah,

  Malaysia Global Sukuk Inc Sovereign Sukuk

  IDB Sukuk Istithmar,

  SABIC/SEC Saudi Sukuk,

  Paka Capital Exchangeable Sukuk,

  Dar-AlArkan Saudi Sukuk,

  Bahrain Salam Sukuk

  Classical Musharakah Sukuk- Case Study

  AAOFFI Sukuk Rulings

  OIC Fiqh Academy Rulings

  Overview of Issues in International Sukuk Defaults




























23rd  & 24th November 2009





Grand Seasons Hotel, Kuala Lumpur










Muamalah Financial Consulting Sdn. Bhd

17-1, First Floor, D’Bayu,Jln Serambi U8/21,

Bukit Jelutong, 40150 Shah Alam, Selangor

Tel: 012 212 5405  Fax: 03-78473214

Email :









This Course will provide a solid grounding in Sukuk Origination and Structure. From basic principles of Islamic financing and  local  Sukuk the Programme will explore all varieties of International Sukuk, covering structures, termsheets and outline legal docs. Culminating in examination of latest Sukuk rulings and overview of the issues in Sukuk defaults



  • Debt Capital Market Personnel of Banks and Universal Brokers
  • Corporate Banking Personnels
  • Investment Bankers/ Merchant Bankers/ Corporate Finance Personnels
  • Treasury & Fixed Income Personnel;
  • Islamic Banking Officers / Managers
  • Legal Practitioners
  • Fund Managers, Dealers, Remisiers, Asset Managers, Venture Capitalists, Investment Advisers, Analysts, Researchers
  • General Managers/Managers/ Officers of Corporate Organizations, SEDC’s, State Agencies, Departments and Corporations;
  • Directors of Listed/ Unlisted Companies
  • Academics and Consultants 
  • Accountants / Auditors; and
  • Individuals / Entrepreneurs.


Muamalah Financial Consulting Sdn Bhd (“Muamalah”) comprises a team of former Islamic Bankers with a combined experience of over 30 years in Islamic Banking. To date Muamalah have conducted the following training Courses/ Seminars/ Workshop to the Financial Industry:

In-house Course on Islamic Syndications, Securitisation and Legal Aspects for Alliance Merchant Bank Bhd

In-house Islamic Trade Finance Course for Public Bank Bhd In-house Islamic Capital Market Workshop for Bank Islam (M) Bhd, Hong Leong Bank Bhd and Malaysian International Merchant Bankers Berhad

 Public Islamic Bonds & Islamic Capital Market Course, M Hotel, Singapore- In House Syariah Broking Course for Permodalan Nasional Berhad and Bursa Malaysia Bhd


RM1400 per participant. Fee is inclusive of lunch, refreshments and course materials. Organizations, which send four or more participants to the Course, shall be eligible for a 10% discount across the board.


Payment should be made by crossed cheque/ bank drafts payable to Muamalah Financial Consulting Sdn Bhd.

Receipt will be issued upon receipt of payment. All payment to be paid at least a week before the course date.


A replacement is allowed should a participant is unable to attend. For cancellation received in writing within one week prior to the course date, a 50% refund will be given to the participant.

Fees will be refunded in full if written notice of withdrawal is received more than two weeks prior to the course date.




Muhammad Zahid Abdul Aziz

Director, Muamalah Financial Consulting

Sdn Bhd.


Muhammad Zahid Abdul Aziz holds a Bachelor’s Degree in Economics from University of Exeter, United Kingdom. After graduating in 1977, he joined an International Accounting Firm, Arthur Young & Co. London office. He returned to Malaysia in 1982 and joined Arab Malaysian Merchant Bank Kuala Lumpur. He joined Bank Islam Malaysia Berhad in 1990 where he pioneered and helped develop Islamic Corporate Banking specializing in Islamic Syndications and Islamic Bond Issuance. His last post at Bank Islam was Senior Manager, Corporate Financing Dept, He has arranged over RM6.0 billion in Islamic Bond Issues during his tenure at Bank Islam. He left Bank Islam in September 2000 to form Muamalah Financial Consulting Sdn Bhd, a firm specialised in training and arranging of Islamic financing. In 2006 he left for Riyadh to assume position as Sukuk and Islamic Investment Banking Consultant to Saudi Arabia’s Bank AlBilad. In April 2009 he returned to Malaysia to resume his consultancy work at Muamalah Financial Consultng.




Bank Islam Malaysia Bhd., Bank Muamalat Malaysia Bhd., Bank Negara Malaysia, Securities Commission of Malaysia, Bursa Malaysia, Islamic Banking and Finance Institute of Malaysia, Labuan Offshore Financial Services Authority. Islamic Bank of Brunei, Islamic Development Bank of Brunei, Shell Malaysia, Monetary Authority of Singapore, Majlis Ugama Islam Singapura, Lembaga Tabung Haji, Yayasan Sarawak, Sarawak SEDC, Kuching Water Board, CMS Trust Management Bhd, Permodalan ASSAR Bhd, RHB Bank Bhd, RHB Sakura Merchant Bankers Bhd, HLG Securities Sdn. Bhd., Shearn Delamore & Co., Southern Bank Berhad, MAA Corporate Advisory Sdn. Bhd., Ain Medicare Sdn. Bhd., Tenunan Budi Sdn. Bhd., Affin Discount Bhd., Bimsec Asset Management Sdn. Bhd., Leader Universal Holdings Berhad., Albar & Partners, A.B. Sidek & Co., Lembaga Tabung Haji, Air Kelantan Sdn. Bhd, Offshore Works Sdn. Bhd., KM Chye & Murad, Alliance Merchant Bank Bhd., Ingress Corporation Bhd., Ranhill Utilities Bhd., Affin Bank Bhd., Abdullah Abdul Rahman & Co., Nik Hisham, Ainul Azam & Fakihah, Hisham Sobri & Kadir, Raslan Loong, Zain & Co., Kumpulan Prasarana Rakyat Johor Sdn. Bhd., CIMB, Ambank Islamic Banking Division, Pacific Alliance Capital Sdn Bhd, Wong & Partners, RHB Securities Sdn Bhd, Standard London (Asia) Sdn Bhd, JPMorgan (M) Sdn Bhd, Commerce Asset Fund Managers Sdn Bhd, Bumiwerks Capital Management Sdn Bhd, PricewaterhouseCoopers, Azmi Ali & Associates, Hong Leong Bank Bhd, Phillip Capital Management Sdn Bhd, Nomura Advisory Services (M) Sdn Bhd, Ghazi & Lim, JMF Asset Management Sdn Bhd, BIMB Securities Sdn Bhd, KAF-Seagroatt & Campbell Securities Sdn Bhd, Mayban Discount Bhd, RHB Asset Management Sdn Bhd, HSBC Bank (M) Bhd, TAMCO Corporate Holdings Bhd, SBB Securities Sdn Bhd, Nam Fatt Corporation Bhd, Lee Choon Wan & Co, Bank Kerjasama Rakyat (M) Bhd, Brunei LNG, Malaysian Resources Corporation Bhd, JF APEX Securities Bhd, Abrar Discounts Bhd, Redmax Sdn Bhd, BIMB Unit Trust Management Sdn Bhd, Ambank Group, Lityan Systems Sdn Bhd, Pheim Asset Management Sdn Bhd, Perkasa Normandy Holdings Sdn Bhd, Amanah SSCM Asset Management  Sdn Bhd, OCBC Bank (M) Bhd., Raja Darry & Loh, Telekom Malaysia Bhd, Ranhill Bhd, Felcra Bhd, HLG Unit Trust Bhd, HLG Asset Management Bhd, Malakoff Bhd, Ayer Hitam Planting Syndicate Bhd, SBB Mutual Bhd, Asiatic Development Bhd, Amfutures Sdn Bhd, K&N Kenanga Holdings Bhd, KL City Securities Sdn Bhd, Mayban Ventures Sdn Bhd, Shell Gas & Power (Singapore), SHH Resources Holdings Bhd, Affin Fund Management Sdn Bhd, KAF Discount Bhd, K&N Kenanga Bhd, Avenue Securities Sdn Bhd, CIMB Securities Sdn Bhd, ECM Libra Securities Sdn Bhd, Hwang-DBS Securities Sdn Bhd, Inter-Pacific Securities Sdn Bhd, Malacca Securities Sdn Bhd, Mohaiyani Securities Sdn Bhd, OSK Securities Sdn Bhd, PM Securities Sdn Bhd, PB Securities Sdn Bhd, Berjaya Group Bhd, Pengurusan Danaharta Nasional Bhd, Saujana Consolidated Bhd, MIDF Bhd, Hap Seng Consolidated Bhd, Mayban Securities Sdn Bhd, Mayban Investment Management Sdn Bhd Eng Teknologi Holdings Bhd, Dunham-Bush (M) Bhd, BH Global Advisers Sdn Bhd, OSK Securities Bhd, HSBC Asset Management Spore Ltd, OCBC Asset Management Ltd, Ong First Pte Ltd, ST Asset Management Pte Ltd


Organisations Which Have Sent Participants To Our Previous Courses/ Seminars/ Workshops:



Registration  8.00 am

Course starts at 9am and ends at 5.00pm


Day One


9am to 10.30 am


Introduction to Islamic Capital Market

Definition, Sources of Hukum

            Riba, Maisir, Gharar


      Overview of Islamic of Financing Concepts


Debt Financing

Detailed explanation about the concepts of Debt Financing – BBA, Murabahah, Istisna’, Ijarah Muntahiah Bit-Tamlik (“IMBT”), Salam, Qardhul Hasan.


Equity Financing

Detailed explanation about the concepts of Equity Financing – Mudharabah & Musyarakah.


Other Islamic Financing Concepts

Detailed explanation about other concepts – Wakalah, Kafalah, Sarf, Wadiah, Rahn, Bai’, Dayn, Muzayadah, Hibah, Ibra’/ Muqasah, Ittifaq Dhimni, Sukuk, Sanadat, Ujr.


10.30am to 11 am Coffee Break


11am to 1pm

Principal Features of Malaysian Sukuk and

    its Latest Developments.


-  Principal features of Baids

-  Principal features of ICP’s

-  Principal features of IMTN’s

-  Principal features of Musyarakah/ Mudharabah Bonds


Principal Features of International Sukuk and

    its Latest Developments


1)      Investment Dar Sukuk Musharakah – Structure a & Termsheet

1pm to 2pm –lunch







2pm to 3.30 pm


2)      Sukuk Ijarah –


3)      Malaysia Global Sukuk Inc Sovereign Sukuk –

Structure, Termsheet & Outline Legal Documents

3.30pm to 4 pm –Tea Break

4pm to 5 pm


4)      IDB Sukuk Istithmar-


Bahrain Salam Sukuk


5pm End of Day One


Day Two

9am to 10.30 am

5)      SABIC/SEC Saudi Sukuk –

Structure, Term Sheet & Detailed Legal Documents

10.30 to 11am –Coffee Break


11am to 1pm

6)      Paka Capital Exchangeable Sukuk-

Structure, Term Sheet & Outline Legal Documents

1pm to 2pm – Lunch


2pm to 3.30 pm

7)        Dar-AlArkan Saudi Sukuk

       Structure & Term Sheet


       Pure Musharakah Sukuk- Case Study

 Structure, Term Sheet & Legal Documents

3.30 pm to 4 pm –Tea Break


4pm to 5 pm

        AAOFFI Sukuk Rulings/OIC Fiqh Academy Rulings/Overview International Sukuk Defaults

   End of Day Two


                                                       REGISTRATION FORM

                                         Two Day International Sukuk Workshop

                                                   (23rd & 24th November 2009)

(Grand Seasons Hotel, Kuala Lumpur)


Register now – Enrolment is based on “First Come First Served Basis”. Complete and Return the Registration Form to:




Muamalah Financial Consulting Sdn Bhd

17-1, First Floor,D’Bayu, Jalan Serambi U8/21,

Bukit Jelutong, 40150 Shah Alam, Selangor





012 212 5405










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Muamalah Financial Consulting Sdn Bhd(494989-H)
17-1, First Floor, D'Bayu, Jalan Serambi U8/21,
Bukit Jelutong, 40150, Shah Alam, Selangor, Malaysia 
Tel:+603 7842 5187, +6012 212 5405 Fax:+603 7842 5201, +603-7847 3214
email :