Distinguished Lecture Dialogue on Sukuk – Issues and Challenges with Sheikh Esam M. Ishaq
On the 27th of April, 2016, IBA Centre for Excellence in Islamic Finance (CEIF) hosted a Leadership Dialogue with Sheikh Esam M. Ishaq on the topic of "Sukuk - Issues and Challenges". The topic revolved around the structuring issues and challenges in Sukuk. This dialogue was attended by a number of senior banking industry professionals from Allied Bank, Al-Baraka Bank, Askari Bank, Bank Al-Habib, Bank Al-Falah, BIPL, Burj Bank , DIBL, Faysal Bank, Habib Bank Ltd, Meezan Bank, National Bank of Pakistan, State Bank of Pakistan and Soneri Bank.
Shaikh Esam is an expert in the application of Shariah Law across all aspects of Islamic finance.
Sheikh Esam apprised the audience regarding the disparity in Shariah Law and other governing laws globally which result in Sukuk structures lacking standardization of clauses. He emphasized that clauses need to be standardized as opposed to structures. He further encouraged the participants to keep pace with the developments of the time and focus on research and development. He felt that some jurisdictions do not recognize beneficial ownership which weakens the case for sukuk.