• Recitation of verses from the Holy Quran
• Keynote Speech: Honourable Sh. Mufti Muhammad Taqi Usmani, Chairman of AAOIFI Shari’ah Board, Member of the International Islamic Fiqh Academy, and President of Darul Uloom Karachi, Pakistan
• Keynote Speech: H. E. Shaikh Ebrahim bin Khalifa Al Khalifa, Chairman of AAOIFI Board of Trustees
• Guest of Honor Address: H.E. Dr. Mohammed Omar Abdullah BaNaga, Vice Governor, Central Bank of Yemen
• Guest of Honor Address: H.E. Dr. Md. Kabir Ahmed, Deputy Governor, Bangladesh Bank
• Conference Introduction: Mr. Omar Mustafa Ansari, Secretary General, AAOIFI
• Honoring Guests of Honor and Sponsors
• Signing of Memoranda of Understanding (MoUs)

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Speakers:

• Honorable Sh. Dr. Yousef Khalawi, Member, AAOIFI Board of Trustees, Secretary General of Islamic Chamber of Commerce and Development (ICCD), Secretary General of AlBaraka Forum for Islamic Economy, KSA
• Mr. Firas Hamdan, Member, AAOIFI Accounting Board; Deputy Chairman, AAOIFI; Education Board; Executive Director – Head of Human Resources Development, Banque Du Liban, Lebanon
• Mr. Iyad Asali, Member of AAOIFI Governance and Ethics Board, General Manager, Islamic International Arab Bank Plc, Jordan     

Key Discussion Points:

• The Shari’ah basis for compensation for damages resulting from a breach of a binding promise of exchange (mu‘awadah).
• The methodology of assessing actual damages in a binding promise to purchase or sell, and when compensation becomes obligatory.
• The methodology of assessing actual damages in a binding promise to Take or Give on Lease, whether in an operational lease (Ijarah Tashghiliyyah) or a lease-to-own arrangement (Ijarah Muntahia Bittamleek).
• The permissibility of agreed-upon compensation or compensation equivalent to the consideration specified in the binding promise.
• The permissibility of estimating compensation in Murabaha-based hedging transactions using pricing methods applied in conventional derivatives.

Session Chair:

• Shaikh Prof. Dr. Sayyed Mohammed Al-Sayyed Abdulrazzaq Al-Tabtabae, Member of AAOIFI Board of Trustees, Dean of the College of Shari’ah and Islamic Studies, Kuwait
  University, Kuwait

Speakers:

• Dr. Rahal Ismail Beladel, Islamic Development Bank Institute, Kingdom of Saudi Arabia
• Dr. Mohamed Obadah Adi, Head of the Internal Shariah Control Division, Al Hilal Bank, United Arab Emirates

Commentators:

• Shaikh Muhammad Taqi Usmani, Chairman of AAOIFI Shari’ah Board, Member of the International Islamic Fiqh Academy, and President of Darul Uloom Karachi, Pakistan
• Honourable Sh. Dr. Esam Khalaf Alenezi, Professor at the Faculty of Shari’ah, Kuwait University, Chairman and Member of Shari’ah Boards of Various Islamic Financial Institutions, Kuwait

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Key Discussion Points:

• The ruling on stipulating English law (or similar laws) as the governing law in contracts and documentation of syndicated financing, Sukuk issuances, and other cross-border transactions.
• The effectiveness of limiting such laws by stipulating non-contravention of Shari’ah rulings.
• Whether a clause prohibiting claims for interest suffices if the contracts and documentation themselves are structured per Shari’ah principles.
• Mechanisms for incorporating AAOIFI Shari’ah Standards as a legally recognized interpretative framework that defines the contractual intentions of the parties and ensures courts uphold these intentions in accordance with AAOIFI Shari’ah Standards.
• The mechanism for designating Shari’ah Standards as the governing law for contracts and documentation.
• The viability of arbitration as an alternative to English law as the governing law.

Session Chair:

Honourable Sh. Dr. Aznan Hasan, Member of Shari’ah Board, AAOIFI; Chairman of Shari’ah Board of Securities Commission, Malaysia

Speakers:

• Shaikh Dr. Mohamed Ali Elgari, Member of AAOIFI Board of Trustees & Shari’ah Board, Chairman and Member of Shari’ah Boards of Various Islamic Financial Institutions, Kingdom of Saudi Arabia
• Dr. Walid Hegazy, Vice Chairman of AAOIFI Governance and Ethics Board, Managing Partner & Founder, Hegazy & Partners Law Firm, Egypt
• Mr. Muhammad Nazir Mian, Group Head of Internal Sharia Control, Dubai Islamic Bank PJSC, UAE

Commentators:

• Shaikh Dr. Osaid Muhammad Adeeb Al-Kailani, Member of AAOIFI Shari’ah Board, Global Head of Shari’ah, Abu Dhabi Islamic Bank Group, United Arab Emirates
• Dr. Muhammad Qaseem, Member of AAOIFI Governance and Ethics Board, Chairman and Member of Shari’ah Boards of Various Islamic Financial Institutions, United Arab Emirates

Key discussion topics:

• Definition and nature of contract combination.
• Criteria for determining whether contracts are combined, and whether separate contractual documents negate the combination within a structured arrangement.
• The juristic interpretation of stipulating one contract within another, and whether it applies only to explicit wording in written contracts.
• Whether the practical necessity of engaging in multiple contracts for an arrangement constitutes a combination, even if not explicitly stated in the contracts.
• The role of considering final outcomes (ma’al) in contractual structures and its effect on their Shari’ah ruling.
• The necessity of combining contracts in Islamic finance transactions and the Shari’ah controls governing its permissibility.
• Whether contract combination serves as a mechanism for diluting the legal effects of contracts when executed individually.
• The impact of a party´s multiple legal capacities on the contractual rulings within a structured arrangement.
• The implications of cross-default provisions in combined contracts.
• When is it impermissible to combine between a transaction and a binding promise, and whether a binding promise differs from a conditional clause (shart ja‘li).

Session Chair:

• Shaikh Dr. Abdul Latif Mahmoud Al Mahmoud, Member of the Supreme Council for Islamic Affairs, Chairman of the Shari’ah Supervisory Board, Bahrain Islamic Bank, Kingdom of Bahrain

Speakers:

• Shaikh Dr. Muhammad Qurrat, Professor at the Faculty of Shari’ah, Sidi Mohamed Ben Abdellah University, Morocco, and Member of Shari’ah Boards of Various Islamic Financial Institutions, Kingdom of Morocco
• Dr. Talal bin Suleiman Al-Doseri, Professor of Comparative Fiqh, College of Shari’ah and Islamic Studies, Qassim University, Kingdom of Saudi Arabia

Commentators:

• Dr. Layachi Al-Sadiq Feddad, Member of the AAOIFI Shari’ah Board, Consultant, Researcher, and Expert in Islamic Finance, Algeria
• Shaikh Ibrahim Al-Dhareer, Member of the AAOIFI Shari’ah Board, and Member of the Higher Shari’ah Supervisory Authority, Central Bank of Sudan, Sudan

Key discussion topics:

• The significance of reinsurance for Takaful companies.
• The distinction between compulsory and optional reinsurance.
• The Shari’ah conditions of “Hajah” (need) that justify recourse to conventional reinsurers.
• The conditions required to mitigate impermissibility in reinsurance agreements with conventional reinsurers, and whether full reinsurance with no risk retention is permissible, particularly in the context of Takaful fronting arrangements.
• The distinction between reinsurance and co-insurance.
• Shari’ah parameters for co-insurance involving a conventional insurer or engaging a conventional insurer in a Takaful scheme.

Session Chair:

• Shaikh Ibrahim Al-Dhareer, Member of the AAOIFI Shari’ah Board, and Member of the Higher Shari’ah Supervisory Authority, Central Bank of Sudan, Sudan

Speakers:

• Shaikh Dr. Irshad Ahmad Aijaz, Member of the AAOIFI Governance and Ethics Board, Chairman of the Shari’ah Board, State Bank of Pakistan, and Chairman of the Shari’ah Board, Securities and Exchange Commission of Pakistan, Pakistan
• Dr. Suleiman bin Muhammad Al-Juwaiser, Secretary of the Shari’ah Board and Director of Shari’ah Governance, Al Rajhi Takaful, Kingdom of Saudi Arabia

Commentators:

• Shaikh Esam Ishaq Al-Abbasi, Member of the AAOIFI Shari’ah Board, Member of the Higher Shari’ah Supervisory Authority, Central Bank of the UAE, Chairman and Member of Shari’ah Boards of Various Islamic Financial Institutions, Kingdom of Bahrain
  Dr. Abdulsalam Kilani, Head of Shari’ah Governance, Emirates Islamic Bank, United Arab Emirates     

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