IFA: Leasing, Musharaka, Mudaraba and Sukuk

A 2-day programme on managing leasing transactions and the principles and uses of Musharaka, Mudaraba and Sukuk. This course forms Part 3 of the Islamic Finance Academy.
Day 1 Leasing (ijara) transactions: particularly real estate, equipment finance and project and Infrastructure finance - Conventional real estate rransactions – a short history of real estate investing in Islamic finance - Elements of the ijara (Lease) - Bifurcated structures: generic ijara transactions A case study variation: all cash acquisition and subsequent financing (United States). A case study variation: all cash acquisition, subsequent financing, initial loan structure (United Kingdom). A case study variation: No puts or calls on real property (Sweden) Murabaha, tawarruq and musawamma - Murabaha, tawarruq and musawamma defined - Some murabaha and musawamma principles - Generic murabaha structures - Generic syndicated murabaha - Syndicated murabaha with an agent - Working capital murabaha transactions Case study: term and revolving murabahas. Day 2 Musharaka - Musharaka defined - Some musharaka principles - The diminishing musharaka structure Mudaraba - Mudaraba defined - Some mudaraba principles - Mudaraba structures in finance - Mudaraba structures in Islamic banking - Mudaraba structures in takaful Sukuk - Cross collateralised pool financings - Europe - United States - Perspective - Asset securitisations generally - Conceptual transactional structure - Sukuk defined - AAOIFI considerations and categories - Sukuk markets - Sukuk al-Ijara - Sukuk al-Mudaraba - Sukuk al-Musharaka - Sukuk al-Murabaha - Sukuk al-Wakala - AAOIFI clarification of Standard (17): March 2008 - Legal impediments to enforceability and ratings Case Studies Bahrain Financial Harbour Sukuk Tamweel RMBS Sukuk TECOM Free Zone CMBS Private Commercial Sukuk al- Wakala bel-Istithmar Government Sukuk al-Wakala bel-Istithmar Sukuk al-Musharaka Sukuk al-Mudaraba – Goldman Sachs Course summary and close