Part 4: Structuring Sukuk Programmes & Recommendations

In the final part, Hani Abbas Helmy, Head of Sharia Review, for Dubai Islamic Bank, provides recommendations in structuring sukuk programmes and the role of the Shari’a supervisor in the process. Sukuk programmes cover a number of series issuances on same/similar terms and conditions. Where instead of having the whole Sukuk documentation and process repeated,

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Part 3: The Methodology

In Part 3, Hani Abbas Helmy, Head of Sharia Review, for Dubai Islamic Bank, breaks down the methodology in undertaking a Sharia review. The previous sections showed the skeletal Sukuk Features, the prospectus sectional break up, the remaining issuance documents, underlying Sukuk transaction documents and how to deal with them; here we venture into prioritizing

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Part 2: The Documentation for Sukuk

In Part 2, Hani Abbas Helmy, Head of Sharia Review, for Dubai Islamic Bank, breaks down the documentation involved in a Sukuk. The documentation of the Sukuk issuance can grow to around 1,000 pages sometimes. To make life a lot easier for the Sharia Reviewer reviewing this bulk, it is segregated into four categories. As

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Part 1: Features of the Sukuk

  In Part 1, Hani Abbas Helmy, Head of Sharia Review, for Dubai Islamic Bank, explores & focuses on certain generic features that are building blocks of a Sukuk issuance under the Sukuk framework. Sukuk Features are (1) predominantly features that the Sharia Reviewer does not find in a normal bilateral transaction at an IFI;

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A Methodical Sukuk Sharia Review (Introduction)

In these series of articles, Hani Abbas Helmy, Head of Sharia Review, for Dubai Islamic Bank, explores the Sukuk Sharia Review process, and proposes ideas as to how to improve the process to make it efficient. Introduction A Sukuk is a certificate that represents a common equal share in an underlying investment transaction or asset.

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Improving the Shari’ah Audit Function in Islamic Financial Institutions

Introduction As Islamic Financial Institutions (IFI) are growing faster it is pertinent to look at various components of their overall corporate governance, which require more clarity and robustness with Shari’ah empirical thoughts. Internal Shari’ah Audit Function is one such area. Several financial regulators, sensing this need, have developed basic principles addressing the issue briefly under

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