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Bank Islam Provides Insight Into Shariah-Compliant Hedging Strategies For Sukuk Investors


KUALA LUMPUR, Monday, [13 December 2010] – Bank Islam Malaysia Berhad (Bank Islam) and two experts in Shariah-compliant hedging strategies are providing sukuk investors with an insight into hedging techniques and recent developments in the industry.

The two-day seminar on “Hedging Strategies Using Islamic Products” is a Bank Islam initiative to help local sukuk investors from asset management, insurance and Government-linked companies to familiarize with hedging techniques in derivatives, their pricing mechanism, their applications and risk management techniques.

Dato’ Sri Zukri Samat, Managing Director of Bank Islam in his welcome address said: “As a pioneer Islamic bank in Malaysia, the task of promoting the development and growth of Islamic banking in the country has always been an inherent responsibility and obligation of the Bank.”

“It is our hope that this program will not only provide the participants with insights on the available hedging techniques but also to challenge investors to think out of the box and formulate new strategies in managing risks,” he added.

“We believe our efforts, together with the support from the media, will enable us to play a very significant role in raising public awareness of the availability of an alternative option for financial transactions i.e. Islamic finance which has increasingly become an integral part of the mainstream financial system in many countries worldwide,” he said.

The speakers were Steven Bowles and Fakihah Azahari.

Steven Bowles has 20 years experience trading global financial markets and now manages his own trading company in the United Kingdom.

Fakihah is the Senior Partner of Nik Hisham, Fakihah & Co, a legal firm. She is also a Director of Hal Mart Inc. Sdn Bhd, a joint venture between Glohex and MARA as the agency under the Ministry of Entrepreneur & Cooperative Development Malaysia.

The topics of the two-day seminar include: (1) Islamic Finance as the cornerstone to Malaysian Government national development plan, (2) Shariah Law and Derivatives: Overview of relevant principles and Shariah approval process, (3) Bank Islam Derivative Products: Suitability issues, Examples of Islamic derivative products, Profit Rate Swap, (4) Documentation: Documentation for derivative transactions, Credit and collateral management, (5) Credit Risk Behaviour and Collateral Management: Contingent Credit Risk, Credit and collateral management, (6) Fixed Income Securities: Market risk calculations in a bond portfolio, (7) Conventional Derivative Products : Short Term Interest Rate Futures, Interest Rate Swap, LIBOR, Pricing and valuation, (8) Islamic Derivative Products : Profit Rate Swap

More than 25 senior executives from various local corporate investors from different segment attended the seminar includes the Employees Provident Fund and Retirement Fund Incorporated, reputable asset management companies, established insurance companies as well as large GLC.

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