Global Development of Islamic Banking and Bonds (Sukuk) (19 December 2016)

Asian Institute of International Financial Law
Faculty of Law, The University of Hong Kong
Centre for Financial Regulation and Economic Development
Faculty of Law, The Chinese University of Hong Kong

Joint Seminar

Global Development of Islamic Banking and Bonds (Sukuk)

Justice Datuk Dr. Haji Hamid Sultan bin Abu Backer
Judge of Court of Appeal Malaysia

Monday, 19 December 2016
12:30 – 1:30 pm
Room 723, 7/F Cheng Yu Tung Tower
The University of Hong Kong

The special lecture introduced the concept of Islamic Finance facilities, inclusive of sukuk (Bonds). In the last four or five decades, Islamic trading concepts have been used as financing instrument to provide banking facilities in many parts of the world. Islamic Banking is by far and large an asset based transaction and in consequence is said to be more stable than conventional banking. For example, conventional Bonds do not have an underlying asset or security to support its transaction. However, the Islamic Bond or ‘Sukuk’ has an underlying asset to support the Bond and in consequence there has been a phenomenal growth in Sukuk Industry, not only in Malaysia, but also in other parts of the world, inclusive of United Kingdom. The study of Banking Laws will not be complete if students and jurists have not exposed themselves to the concept and practice of Islamic Banking.

Justice Datuk Dr. Haji Hamid Sultan bin Abu Backer, a Judge of Court of Appeal Malaysia, is a barrister and a fellow of the Chartered Institute of Arbitrators. He is a graduate in economics and also an honours and masters degree holder from University of London in Insurance, Shipping and Syariah Law. He also holds post graduate diplomas in Islamic Banking and Finance and also in Syariah Law and Practice from International Islamic University Malaysia. He was a member of the Malaysian Bar Council for more than 6 years and has served as Chairman in various committees. He has been invited as a visiting Scholar of University of Sheffield in United Kingdom and also participates in various other activities of Universities such as examiner of PhD thesis, external examiner, Guest Speaker, etc. He has written on various subjects, inclusive of Civil Procedure, Criminal Procedure, Evidence, Conveyancing, Islamic Banking and many more areas, on commercial law. His books grace the libraries of law firms and the chamber of judges. His books are not only used as text books in all institutions of higher learning offering law but also used by all who are involved in the practice and administration of law in Malaysia. His doctorate thesis was on Civil Procedure and Justice.

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