| | | | | | | | Despite the financial crisis which has impacted international markets worldwide, Islamic Finance continues to be a hot topic in the industry. While down from the initially predicted double digit growth, the evolving market continues to boast significant increases in assets and products. Investors everywhere are desperate to find investment products with a lower risk profile, Islamic products could be the solution. Luxembourg, being the second largest fund center outside of the United States, has a flexible regulator who is quick to respond to demand and changes in the market, and with its variety of investment vehicle options catering to all types of investors and styles, is an excellent location for the domiciliation of Islamic Funds. In response to this demand, PwC ACADEMY is pleased to offer a training workshop dedicated to understanding the basic principles of Islamic Finance, as well as providing some insight into the market and the region. Upon completion of the course, participants will be able to : - explain the core principles which form the basis of Islamic Finance
- define the primary Islamic financial instruments
- take decision in accordance with the legal & tax structures available in Luxembourg for Islamic Funds
- describe the accounting, financial reporting and compliance issues for Islamic funds
Overview of the Market - Overview of the Islamic market and its development as it relate to asset management and insurance
Understanding the Core Principles of Islamic Finance - Background on the principles of Islam that govern Islamic Finance
- Key terms and definitions
Islamic Financial Instruments - Common instruments used within Islamic Finance (murabaha, mudaraba, sukuk, etc.)
- Comparison of conventional instruments to Islamic instruments, and implementation of Islamic instruments in every day life
Risk Management and Compliance aspects
Legal and Tax Structures - Description of the legal and tax aspects of the common Islamic products
Accounting and Reporting - Basic accounting of the common instruments and the industry standard in financial reporting
- Servicing gaps and things to think about as a service provider
This training will be coordinated by Wim Piot, Partner, PricewaterhouseCoopers Luxembourg. The different sessions will be animated by Sohail Jaffer, Partner, FWU group and by managers from PricewaterhouseCoopers Luxembourg. - Fund Service Providers
- Fund Promoters
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