Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) Shari’ah Standard No. 62 on Sukuk : Requirements and Market Implications

ABOUT THE PROGRAMME

The Islamic capital market continues to evolve amidst increasing cross-border Sukuk issuances and differing Shari’ah interpretations across jurisdictions. The draft Shari’ah Standard No. 62 (the Standard) on Sukuk issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is expected to have significant implications on Sukuk structures and market practices, particularly in relation to legal transfer of ownership requirements. As jurisdictions adopt or reference AAOIFI standards to varying degrees, it is crucial for market participants to understand the Standard’s requirements and how it compares with existing Sukuk structures and practices, including those adopted in Malaysia. The legal transfer of ownership requirement presents important considerations for issuers, arrangers, Shari’ah advisers and other capital market intermediaries in assessing the structuring and implementation of Sukuk issuances.

This programme provides participants with an overview of the objectives, features and requirements of the Standard, as well as practical insights into its implications on Sukuk structures and the capital market. Through case studies and discussions on market developments and practices across jurisdictions, participants will gain a better understanding of practical structuring considerations and approaches relating to Sukuk issuances.

LEARNING OBJECTIVES

• Explain the objectives and features of AAOIFI Shariah Standard No. 62 on Sukuk (the Standard)
• Apply the requirements of the Standard to Sukuk transactions
• Analyse the implications of legal transfer of ownership requirements on Sukuk structures
• Evaluate the suitability of Sukuk structures under legal transfer of ownership requirements

WHO SHOULD ATTEND

• Islamic Capital Market Practitioners
• Shariah Advisers & Legal Counsels
• Investment Bankers & Financial Advisers
• Individuals interested in Sukuk

SPEAKER
Dr. Muhammad Issyam Itam@Ismail

Dr. Muhammad Issyam is currently the Head of Shariah at Hong Leong Islamic Bank Berhad, where he oversees the bank’s Shariah Advisory and Shariah Secretariat & Research functions, including Shariah governance and compliance across key business areas. He also drives selected initiatives under the Bank’s Value-Based Intermediation agenda, focusing on sustainability and Islamic social finance.

Dr. Issyam served in senior roles across leading Islamic FIs, most notably as Vice President, Islamic Product (Corporate Finance, Investment Banking, and Treasury) at First Abu Dhabi Bank, where he was involved in nearly 50 global sukuk transactions and more than 10 corporate and syndicated deals. Earlier in his career, he was Assistant Vice President of Islamic Wholesale Banking at CIMB Islamic Bank Berhad, specialising in structuring of Islamic capital market instruments.

He brings extensive hands-on experience in structuring, advisory, and execution of sukuk transactions, having contributed to numerous domestic and landmark international issuances. These include the Government of Malaysia’s inaugural Sovereign Sustainability Sukuk (2021), the UK Sovereign Sukuk, and multiple global sukuk offerings by Khazanah Nasional and the Republic of Indonesia. His expertise spans both equity-based and debt-based Shariah-compliant instruments, making him a recognised practitioner in the Islamic capital market space.

In addition, he has contributed to industry development through his role as a member of the MIFC Working Group Committee at AIBIM, supporting the advancement of Malaysia’s Islamic finance agenda.

VENUE
Bangunan AICB, Kuala Lumpur

FEE
MIBA Member : RM2,000.00 per participant
Non-MIBA Member : RM2,200.00 per participant
*10% discount applies for group registration of 5 or more from the same organisation

The closing date for the registration is on Wednesday, 22 July 2026.

TERMS AND CONDITIONS

Payment
Full payment to the following bank account is required with registration, at least one (1) week prior to the date of the programme :
Pay to: MALAYSIAN INVESTMENT BANKING ASSOCIATION
Account No: 39500115355
Bank Details: Hong Leong Bank Berhad
Please e-mail payment advice to ipay@miba.com.my and state the Invoice No.

Cancellation / Substitution
Cancellations or refunds within one (1) week from the date of the programme will NOT be entertained. Non-attendance does not constitute cancellation and no refund will be given. Substitute(s) will be accepted provided forty-eight (48) hours prior written notice is received.

Data Protection
Personal data is gathered in accordance with the Personal Data Protection Act 2010 (Act 709).

Disclaimer
MIBA reserves the right to change the date, speaker, course contents and programme or cancel the programme in the event of circumstances beyond our control.

For more queries, kindly email education@miba.com.my or contact us at +603-27113991.