IIFM-IILM Virtual Seminar on Global Benchmark Rate Reforms - Challenges & Solutions for Islamic Finance Industry

The timing of the event are in Jakarta Time, GMT +7

13:30 - 13:40

Introductory Remarks

Dr. Ahmad Rufai
Head of Compliance, International Islamic Financial Market (IIFM)

13:40 - 14:00

Welcoming Remarks

Nik Mohamed Din
Director General, Labuan Financial Services Authority (Malaysia) and Vice Chairman of IIFM

Dr. Umar Oseni
Chief Executive Officer, International Islamic Liquidity Management Corporation (IILM)

14:00 - 14:15

Keynote Address

H. E. Ms. Destry Damayanti
Senior Deputy Governor, Bank Indonesia (to be advised)

14:15 - 14:40

Introduction to Inter-Bank Offered Rates (IBOR’s) and Transition to Risk-Free Rates (RFR’s)

- The need to Transition from IBOR’s to RFR’s
- Difference between IBOR’s and RFR’s
- Methodologies for Tenor Rates

Khurram Hilal
Chief Executive Officer and Head Group Islamic Products, Standard Chartered Saadiq, Dubai

14:40 - 15:00

RFR Regulations and Administrators (Europe, UK, North America, Japan) and Global Transition Implementation Timelines

Mustafa Adil
Head of Islamic Finance, Data & Analytics, London Stock Exchange Group

15:00 - 15:25

Findings of the IIFM White Paper on IBOR Transition and Update on IIFM RFR Implementation Solutions for Islamic Financing Segment

Ijlal Ahmed Alvi
Chief Executive Officer, International Islamic Financial Market (IIFM)

15:25 - 15:50

RFR Implementation Documentation for Islamic Hedging Segment

Habib Motani
Consultant, Clifford Chance LLP, London

15:50 - 16:20

Potential for an Islamic Benchmark Rate: The IILM Sukuk Experience

Hichem Bouqniss 
Executive Director-Business Operations, International Islamic Liquidity Management Corporation (IILM)

16:20 - 16:30

Closing Remarks

Ijlal Ahmed Alvi
Chief Executive Officer, International Islamic Financial Market (IIFM)

END OF VIRTUAL SEMINAR

The program is subject to change