| Explaining Hedge Funds in the Shari'ah Context: Dubai as the Hedge Fund Jurisdiction of Choice.
Over the past few years, there has been considerable economic growth and an increase in prosperity across the Middle East, which has fuelled a significant investment boom. This new title from ISI Publications covers many aspects of the investment industry, and shines a spotlight in particular on the growing market in Dubai. Published in association with the Dubai International Financial Centre, this book offers valuable and practical knowledge about raising capital in the Middle East, the key issue of Shari’ah-compliant hedge funds, a comparison of some of the key jurisdictions and much more.
Table of Contents:
Chapter One:
Overview – Development of the Hedge Fund Industry in the Middle East.
Kevin Birkett, DIFC, Dubai.
Chapter Two:
Shari'ah-Compliant Hedge Funds: Commencing with First Principles.
Michael J.T. McMillen, Member, New York Bar.
Introduction and some initial considerations
Hedge funds, strategies and mechanisms
Definitions, compositional elements and the Sharīcah
Strategies
Restrictive Sharī'ah principles and precepts
The Sharī'ah, generally
Hedge-related principles and precepts
Types of options and voidable or revocable sales
And then… realism and experience
Arboon and Salam structures for short selling and options trading
Arboon
Salam
Conclusion
Chapter Three:
Field of Dreams
Peter Hughes, Apex Fund Administration, Dubai.
Chapter Four:
Raising Assets in the Middle East
Nigel Sillitoe, Thames River Capital, London.
Introduction
The six key elements to raising capital
A black book
Patience
A broad product range
Gathering information on distribution channels
Commitment
Understanding the latest marketing regulations
Chapter Five:
Hedge Funds in the Middle East
Antoine Massad, Man Investments, Middle East
Chapter Six:
Assessing the Appetite for Hedge Fund Investments in the Region
Hashem Alwazzan, Kuwait China Investment Company, Kuwait.
Chapter Seven:
Securities Regulatory Frameworks and Islamic Finance: A Comparative Survey
Michael J.T. McMillen, Member, New York Bar.
Introduction and background
Securities (capital markets) laws: general framework considerations
Background considerations
Government regulation and self-regulatory organisations
Government enforcement: civil and criminal
Private enforcement
Offerings and disclosure
Capital markets access
Limited offerings
Institutional investor markets
Public offerings
Financial intermediaries
Collective investment schemes
Secondary markets
Framework adjustments for asset securitisations
General background
Disclosure matters
Investor communication matters
Comparative summary of national securities law
The chosen jurisdictions
Kingdom of Saudi Arabia
United Arab Emirates
Malaysia
Singapore
Pakistan
Conclusion and suggestions for further enquiry |
