Shariah-compliance

Got this in my email today from Financial Events International:

Understanding Islamic Finance- Conference - September 19 & 20, 2007 - Geneva - Switzerland

Contrary to common beliefs the financial world is not fully disconnected of religion or faith.

In fact, the rise of Islam oriented societies in the Middle or the Far East has led to the development of approaches that differ from the traditional ways of finance. For instance, the development of six income securities: the Islamic Sukuk.

Due to the constant revenues by oil, this asset class is growing at a very fast base. On the other hand, as the development of the system is relatively recent, capital raises in a shariah-compliant nation can be structured in many complex ways. Consequently, new ways of structuring Islamic securities are constantly developed and introduced in the market. Increasingly new corporate or sovereign sukuk are to be available.

The rules of efficient Islamic finance will be fully understood. Learning about them is the principal purpose of this conference. Among its main topics are:

Understanding the main words of Islamic finance: Riba, Gharar, Maysir, Mudarabah, Musharakah, Murabahah, Istinah, Salam, Ijarah, Sanduq.

Legal and tax considerations for the Islamic capital market

Step by step comparison between sukuk and traditional securities including conventional bonds and asset-backed securities.

How to choose the most suitable mode of Islamic housing finance

How to convert conventional real estate into Shariah-compliant transactions

How to assess risk and enhance credit in real estate sukuk

How to differentiate Islamic REIT's from ordinary real estate funds and sukuk

What are the basic principles of international contracts in shariah (aptitude, consent, alliance, word commitment, permissivity and variability/reality)

Understanding the shariah named financing contract (musharakah, murabahah, muzakha, salam, leasing)

How to share and exchange loan international contracts

Understanding structured hybrid Islamic financial contracts

Assessing the kind of risk Islamic banks are exposed to

How to look to shariah in extrinsic technique of risk management

Understanding the relationship between Basel II, its three pillars andthe Islamic banking corporations

Understanding the shariah and fiqh

How to develop new financial products in order to obtain shariah compliances

What are the different principles governing Islamic finance

Many other topics will also be approached during this conference to get a full and accurate picture of the Islamic finance.

Hate to say it but I found it a bit disturbing.