Topic: Equity Screening & Purification Criteria; Shari’ah Requirements and Practical Considerations
Speaker:
Asim Khan,
Executive Director, Dar Al Istithmar, Islamic Finance Advisory Firm, UK.
Date : 04th August 2010 : Time : 6.15pm
Venue:
British Bankers' Association,
Pinners Hall, 105 - 108 Old Broad Street, London EC2N 1EX
(This building is near Liverpool Street, Bank and Moorgate Underground Station)
About the Lecture:
Equities have always been an attractive asset class, both for conventional and Islamic investors. Although the recent financial crisis has had a huge impact on the equities markets, with global financial markets showing signs of recovery, equities are again becoming a key focus for the investors (both Islamic and conventional). The Shari’ah screening framework for equities was established in the early 1990s, but Shari’ah Scholars are still concerned about the appropriate application of the Shari’ah screening methodology approved by them, primarily due to:
i) Significant numbers of Islamic equity funds are managed by conventional asset managers, and;
ii) In certain jurisdictions, the Shari’ah governance aspects are not yet implemented. Similar concerns have also been raised by Islamic investors. The aim of this lecture is to provide an insight on the Shari’ah screening, their rationale, practical considerations, purification and current requirements by the Shari’ah Scholars on Shari’ah monitoring of Islamic equity funds and reporting thereof.
About the Speaker:
Asim Khan is a Chartered Accountant with more than 15 years experience in financial services (including conventional and Islamic financial institutions) and oil & gas industries across the Asian sub-continent, Middle East and Europe regions, He has worked with top tier organisations like PricewaterhouseCoopers, KPMG and Deutsche Bank. Asim has worked, and continues to work, with world renowned Shari’ah Scholars from the Middle East and Far East and has coordinated the Shari’ah-compliance approved process for various clients and also facilitate the Shari’ah Scholars review and sign-off.
Asim advises on developing and monitoring Islamic Financial Products and has structured various Islamic finance transactions (including Sukuk and Shari’ah-compliant structured notes); developed various Shari'ah-compliant investment funds and advised on purification strategies for non-Shari'ah compliant income. He is regular speaker at the seminars and conferences on various topics of Islamic finance on renowned platforms, academic forums and media (including television in the UK and Europe)
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