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Islamic finance represents an exciting element of the financialservices environment. Increasingly new standards, products andapproaches are being developed to internationally address theunique challenges that this maturing industry requires.

At Risk Reward we have been involved with Islamic finance for many years,undertaking a range of assignments as advisors, consultants or trainers.Addressing key issues of internal audit, risk management and corporategovernance within Islamic banking, our work is recognised as both innovative andpractical.

With clients within the global Islamic finance market from Saudi Arabia to Malaysiawe have a broad perspective on the issues, solutions and differences that exist.Our experience of AAOIFI and IFSB rulings combined with our background ininternational regulation including BIS standards as well as risk managementenables us to provide the advice and guidance that banks and financialinstitutions in this developing industry require.

The risk management issues of Islamic finance are different to those of traditionalbanks and the solutions can also be different. Liquidity risk specifically provides aseries of additional challenges, with shariah complaint solutions being necessary.Designing appropriate risk mitigation techniques that effectively reduce risk inIslamic finance firms is at the heart of our service offering.

These are exciting times for Islamic finance. We look forward toassisting your firms in achieving their Islamic banking goals

www.riskrewardlimited.com

Assalamu Alaykum

Dennis CoxChief Executive Officer

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Risk Reward are official training providers inIslamic risk management, finance and auditrelated qualifications issued by:

The Chartered Institute forSecurities and Investment

The Institute of Chartered Accountants inEngland & Wales

The Chartered Insurance Institute

Chartered Institute of Internal Auditors

Association of Certified Anti-Money LaunderingSpecialists

and conduct training to a wide variety ofaccredited and certified programmes andqualifications.

To date we have helped over 1000 banks andfinancial institutions, including central banks, totrain and improve the performance of their staff.Our trainers and courses are considered to beamong the best in the industry.

About UsA wide range of macro trends areintroducing massive change tobanking not least the moreconservative and less trustingmillennial generation. Risk Reward isat the leading edge of emergingfinancial technologies and non-bankfinancial services that are at theforefront of fintech innovation and howbanks and regulators through trainingcan find ways to manage these trendsand its impact.

Based in the City of London, our business offers awide range of training and advisory servicesdelivered by a pool of over 750 consultants. Eachof our consultants are experts in their fields withan average of 25 years of relevant industryexperience, ensuring that our services add valuefrom day one and eliminate the usual consultantlearning curve delays. In every case ourconsultants are able to make suggestions basedon their own considerable experience of dealingsuccessfully with similar challenges in their owncareers.

Whether our trainers come to your place ofbusiness, a regional financial hub or your teamtravels to London, our trainers ensure aninternational prospective for all trainingprogrammes.

Expertise

The City of London is a hub for non-Muslim international Islamic banking and financeand Risk Reward experts have been a part of this sector for many years.

Our Islamic experts are bankers, chartered accountants (ACA, CIMA, ACCA) and internal auditors qualified totraditional banking as well as Islamic financial services, applying the Islamic Finance Qualification (IFQ)standards as issued jointly by the Ecole Superieure des Affaires (Beirut, Central Bank of Lebanon) and theChartered Institute of Securities and Investments (CISI) in addition to the AAOIFI and IFSB certifications.

They have worked extensively throughout the Gulf Cooperation Council (GCC), West Africa, Malaysia andother states within the Organisation of Islamic Cooperation (OIC). Our aim is to ensure that our experts arecompletely and effectively responsive whenever a client engages us on any assignment so that weimmediately add value and avoid unnecessary and costly delays.

Risk Reward’s Chief Executive, Dennis Cox, has been an advisor in Islamic Finance to one of the largestbanks in the GCC and an Asian Central Bank and as such maintains regular contact with that bank’s topmanagement and regulatory authorities. Dr NatalieSchoon has been active in bringing an innovativemethodology to create Islamic funds inAfghanistan and Iraq and also as an advisor to awide variety of Islamic banks and financialinstitutions.

We can therefore claim with authority that RiskReward is at the leading edge of the Islamicmarket and is conversant with the risk-basedissues challenging the major Islamic bankingplayers.

4 www.riskrewardlimited.com

”

“Great course, very deep andcomprehensively covers a lot –if not all – aspects of what an

auditor should be lookingat/knowing and what requires

to be understood for theauditor to do their job properly.

Nashwa Al-Busaioi, Assistant Manager – Bank Muscat

5

According to the the CityUK 2013Report Islamic assets managed bybanks increased by a fifth in 2012 to arecord $1.3 trillion. Mayor growth is alsobeing experienced in sukuk issuanceand other forums of Islamic Finance.

As more countries look to expand their Shariaoffering Risk Reward experts are already in theirmarkets, experienced and knowledgeable about thelocal banking, finance, business and economicclimate, its key players and regulatory trends. Oursolutions are appropriate and practical for regulators,regulated entities and the Islamic finance economicsector including services and systems providers.

New Sharia compliant institutions in recent yearshave been developed in a number of countriesincluding: Azerbaijan, Kenya, Nigeria, Oman, Qatar,Russia and Oman and Risk Reward Islamic expertshave been advising on risk management and internalaudit specific to Islamic products and standards.

The changing financial climate presents bothopportunities and challenges to Islamic Banks.Working with both Boards and Shariah committeesour expert consultants develop practical andinnovative solutions to the challenges faced.

Risk Reward has one of the most diverse teams inthe industry and can offer global support fortechnical consultancy on all areas of Islamic Bankingand Finance, training, risk management, accountingand internal audit.

As the financial rules within which Islamic financedevelop, we are able to assist firms in theirinterpretation and implementation within an internalframework. Risk Reward familiarity with the AAOIFIand IFSB rules together with our expertise in theIFRS requirements and BIS regulations enables us toprovide both a local and an international perspective.

Our services include:

n AdvisoryOur Islamic experts provide assistance with anyaspect of banking and finance, policy,governance, strategy development, duediligence, implementation, marketing, productsand services, controls, monitoring and reporting.• Islamic Product Development• Credit Control and Islamic Environment

• Policy development and implementation• Infrastructure finance & fund raising• Risk management• AAOIFI Accountancy & IFRS compliance• Sukuk issuance• Specialist Funds (including Real estate)• Exchange traded products• IFSB and BIS Regulation• International Brokerage (e.g. connecting Halalfood producers and food packaging suppliersin the Gulf States and Nigeria, Sudan)

• Off-exchange trading in commodity-basedagreements

• Consumer finance (e.g. mortgages, motorinsurance)

• Deauville Partnership Arab Women inBusiness Funding Services

• Collections

n Internal AuditProviding expertise in developing and executingrisk-based audit approaches to Islamic Financeproducts and services, preparing a comprehensiveIslamic: Internal audit universe; Audit governance;Audit plan; Audit programmes and co-sourcingspecific audits as part of the audit team whenconducting audits on an ad hoc basis.

n TrainingDesign of customised training programmes inany aspect of Islamic Finance including AAOIFIand IFSB requirements. Unique to Risk Rewardis the Islamic Banking and Finance Academy(IFBA), in-house training model for individualbanks, trade associations for their members andregulators/government training centres. TheIBFA is comprised of four professionalinternationally recognised industry qualificationsplus nearly 50 short-courses, Regulatory Updateand Executive Debriefs for the Board, SeniorManagement and Non-Executive Directors,Directors and Heads of Divisions, MiddleManagers and Supervisers, General Staff,Contractors and Suppliers.

Our clients confirm that these servicesare competitively priced with prompt,friendly and professional quotes forprojects of any scope and scale.

Islamic Banking & Finance Services

6

Selected Global Markets and Clients

Africa• ABSA Bank Ltd• ABSA Capital• Access Bank Plc• Africa Finance Corporation Nigeria• African Banking Corporation• African Development Bank• Ahli United Bank• ASO Savings and Loans plc• Audi Bank• Bank of Alexandria• Bank of Kigali Limited• Bank of Tanzania• Bank One Limited• Bank PHB• Bank Windhoek Ltd• Banque Bemo Saudi Fransi• Banque Du Caire• Banque Populaire du Rwanda• Barclays Bank (South Africa)• Barclays Bank Moçambique• BDO (Mauritius)• BNP Paribas• BoE Private Clients (a Div.of Nedbank)• Botswana Public Officer's Pension Fund• BRD• Cadiz Asset Management• Cavmont Capital Bank (Zambia)• Central Bank of Nigeria• ChaseBank (Kenya)• CITCO (Mauritius) Limited• Commercial Bank (Zambia)• Commercial Bank of Ethiopia• Commercial International Bank (Egypt)• Consolidated Bank of Kenya• Construction & Business Bank• CRDB Bank PLC• Credit Agricole Corporate & Invest Bank• Dashen Bank S.C.• Deloitte & Touche• Development Bank (Rwanda)• Development Bank of Mauritius Ltd• Development Bank of Southern Africa• Ecobank• Egyptian Banking Institute (Egypt)• Equity Bank Rwanda Limited• Export Development Bank of Egypt• Export Development Bank Sudan• Finance Bank (Zambia)• First Atlantic Merchant Bank• First Bank of Nigeria PLC• First Rand Bank (South Africa)• FITC• FNB Commercial• GCnet Limited• GT Bank (Nigeria)• HFC Bank (Ghana)• Housing Finance (Uganda)• Industrial Development and Workers

Bank of Egypt• Industrial Development Corporation• Investec (South Africa)• Investec Asset Management• Investrust Bank (Zambia)• KCB Bank Rwanda Limited• Kenya Commercial Bank Ltd• KPMG Professional Services• National Bank (Malawi)• National Bank of Egypt• National Investment Bank• Nedbank• NERFUND• Omnifinance (Cote D’Ivoire)• Public Investment Corporation• Rand Merchant Bank• Rawbank - DRC• Rokel Commercial (Sierra Leone)• Scotiabank• Sierra Leone Commerce Bank• Skye Bank Plc• South African Reserve Bank• Standard Bank Group• State Street Back Bay (South Africa)

• Sterling Bank Plc• Sudanese Egyptian Bank• Suez Canal Bank• Trust Bank (Ghana)• UBA (Nigeria)• Union Bank (Cameroon)• Unity Finance Limited• Zanaco• Zenith Bank (Nigeria)

Americas• AAA Northern CA, NV & Utah• Allianz Global Assistance USA• Arvest Bank Group• Auto Club Group• Banco Industrial de Venezuala• Bank Hapoalim• Bank Leumi USA• Bank of America• Bank of Montreal• Bank of Utah• Bank Plus• Bank United• Banco do Brasil SA• Board of Governors• BRD Groupe Societe Generale• Capital One• Central Bank of Brazil• Central Bank of Mexico• Chicago Bridge & Iron Co• Citizen’s Bank• Depository Trust & Clearing Corp• Deutsche Bank AG• DNB Bank ASA• E*Trade Financial Group• Enbridge Inc• Evans Bank NA• Federal Home Loan Bank• Federal Reserve Bank of Dallas• Federal Reserve Bank of New York• Fidelity Management Research• First Citizen's Bank• First Niagara Bank• First Republic Bank• FRB of New York• Freddie Mac• Girobank NV• Glens Falls National Bank & Trust Co• Hogan Taylor LLP• HSBC• Iberia Bank• ING Group• Intesa SanPaolo• Johnson Financial Group• JSC Liberty Bank• Lakeland Bank• Legg Mason & Co• Marlin Leasing• MIS• Mitsubishi UFJ Trust & Banking• Mizuho Bank• Morgan Stanley• Mutual of Omaha• Northern Trust• Oppenheimer Funds• Provident Bank• Rabobank• Resource Bank• Ridgewood Savings Bank• Signature Bank• State Street• Sterling Savings Bank• Sumitomo Mitsui Trust bank Ltd• Svenska Handelsbanken (New York)• TD Bank• Universal Property & Casualty Ins.• Valley National Bank• Wells Fargo

Asia• ABN-AMRO (Hong Kong, Singapore)• Affin Bank Bhd

• Alliance Bank Malaysia Bhd• Asian Finance Bank Bhd• Banco Nacional Ultramarino (China)• Bangkok Bank Public Company• Bank Islam Malaysia Bhd• Bank Negara (Malaysia)• Bank Negara Indonesia (Persevo)• Bank of Baroda• Bank of China• Bank of Indonesia• Bank of Mauritius• Bank of Taiwan• Bank Rakyat Bhd• Bank Sinopac• Bank TuranAlem (Kazakhstan)• Barclays Private Banking (Hong Kong)• Canara Bank• Cathay United Bank• Chang Hwa Commercial Bank• China Construction Bank• China Development Industrial Bank• Chinatrust Commerial Bank• CIMB Bank Bhd• CIMB Investment Bank Bhd• Citibank (Taiwan) Limited• DFCC (Sri Lanka)• Dhaka Bank Ltd (Bangladesh)• Dutch Bangla Bank• E. Sun Commercial Bank, Ltd.• Financial Services Commission• First Commercial Bank• Hong Leong Bank Bhd• HSBC• Hua Nan Commercial Bank Ltd• ICBC (Hong Kong China)• ICICI Bank (India)• Industrial Bank of Taiwan.• Jih Sun International Bank• L B Finance Ltd (Sri Lanka)• Malayan Banking Bhd• Mega International Commercial Bank• Mercantile Bank Ltd (Bangladesh)• Mitsubishi UFJ Securities International• Mizuho Bank (Taipei Branch)• Monetary Authority (Hong Kong)• Monetary Authority (Singapore)• National Development Bank (Sri Lanka)• Norinchukin Bank (Japan)• Orient Financial Services (Sri Lanka)• Oriental Bank of Commerce (India)• Overseas Chinese Banking• Premier Bank (Bangladesh)• PricewaterhouseCoopers• PT Bank BNI (Persero)• Public Bank Bhd• REDmoney (Malaysia)• RHB Banking Group• Societe Generale• Standard Chartered Bank Malaysia• State Bank of Bikaner & Jaipur (India)• Swiss Reinsurance (Hong Kong)• Taichung Commercial Bank • Taipei Fubon Commercial Bank• TBK (Singapore)• The Bank of Nova Scotia• The Export-Import Bank of the

Republic of China• Union Bank of Taiwan• United Overseas Bank (M) Bhd• Whitestone (Singapore)• Yuanta Commercial Bank

Gulf States• Abu Dhabi Audit Authority• Abu Dhabi Centre for Corporate

Governance• Abu Dhabi Commercial Bank• Abu Dhabi Investment Auth.• Abu Dhabi Investment Company PJSC• Abu Dhabi Islamic Bank• Afghan United Bank• Afghanistan International Bank• Ahli Bank

• Al Rajhi Bank (Saudi Arabia)• Al Salam Bank• Alfahim• Al-Mashreq Bank (Dubai)• Al-Mujaz (Saudi Arabia)• Arab Banking Corporation• Arab Finance House SAL• Arab Gambian Islamic Bank• Arab National Bank (Saudi Arabia)• Associated Discount House• Bahrain Institute of Banking and

Finance• Bahrain Islamic Bank• Bank Audi• Bank Dhofar• Bank E-Millie Afghan• Bank Muamalat Malaysia Berhad• Bank Saderat plc• Bank Saderat Iran• Bank Saudi Fransi• Bank Sepah International plc• Bank Sohar• Banque Bemo SAL• Banque Du Liban• Banque Libano Francaise• Banque Saradar (Lebanon)• Banque Saudi Fransi (Saudi Arabia)• BLC Bank• Blom Bank• Byblos Bank (Lebanon)• Central Bank of Malaysia• Central Bank of Sudan• Commercial Bank of Kuwait• Commercial International Bank (Egypt)• Credit Bank SAL• CSC Bank SAL• Doha Bank• Ecobank Plc• EFG-Hermes Fund Management• Engro Polymer & Chemicals• Enhance (Dubai)• ENI• Finance Al Ain International Group• Finance Gulf Takaful Insurance• Financial Control Guaranty Trust

Assurance• First Bank Plc• First Gulf Bank (Dubai)• Fleming Gulf (Dubai)• Fransabank (Lebanon)• Ghazanfer Bank• Global Investment Bank (Kuwait)• Gosi - Social Insurance Org.• GT Bank Plc• Gulf Investment Corporation• HSBC• Institute of Banking Studies (Kuwait)• Institute of Public Administration• Investment House• Investments Emirates Int'l Investment• Islamic Development Bank (Jeddah)• Israel Discount Bank Ltd• Lebanon & Gulf Bank SAL• Majid Al Futtaim Group LLC• Mashreq Al Islami• Mawarid Finance• MCB Bank Ltd• National Bank of Abu Dhabi• National Bank of Kuwait• National Bank of Umm Al Qaiwain• National Commercial Bank • Peoples Bank• Qatar Central Bank• Qatar International Bank• Qatar Islamic Bank• Qatar National Bank• REDmoney• Riyad Bank (Saudi Arabia)• Saman Bank• Samba Financial Group• Saudi Economic & Development Co.• Sharjah Islamic Bank• Skye Bank Plc• State General Reserve Fund

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• The City Bank• Union Bank Plc• Union National Bank• Wema Bank plc

UK/Europe• ABN Amro• ABN-AMRO Bouwfonds (Netherlands)• ACCA (UK)• ACC Loan Management Limited• Ahli United Bank (UK) Plc• AIB Group (UK) plc• Alpha Bank Cyprus Ltd• Alpha Bank London Ltd• Alsace Consulting• Andra AP fonden (AP2) Sweden• ANZ Banking Group Ltd• Assicurazioni Generali• Association of Cyprus Commercial Banks• Atradius Credit Insurance N.V.• Banca d’Italia• Banca Monte Dei Paschi Di Siena SpA• Banco de Sabadell• Banco Espirito Santo• Banco Internacional Do Funchal• Banco Santander Totta• Bancpost Romania• Bank Julius Baer & Co• Bank Leumi (UK) plc• Bank Mandiri Ltd (Cyprus)• Bank of America NA• Bank of China (UK) Limited• Bank of Cyprus UK• Bank of England• Bank of Greece• Bank of International Settlements• Bank of Ireland• Bank Vontobel AG• Banque Heritage S.A.• Barclays Bank plc• Barclays Capital• Barclays (Spain)• BES-DRH/Formação• Birmingham Midshires• BNP Paribas• Brewin Dolphin Bell Lawrie Ltd• Britannia International• British Arab Commercial Bank• British Bankers’ Association• Broadcastle Bank Ltd• Brown Shipley & Co Ltd• Buckinghamshire Building Society• C Hoare & Co• CAF Bank Ltd• Canara Bank• Capital One Bank (Europe) plc• Ceska Sporitelna, a.s.• Chartered Institute for Securities and

Investment• China Construction Bank• Christiania Bank (Norway)• CIBC World Markets plc• CIEL - Azur Financial Services• Cim Insurance Ltd• Cim Management Services Ltd• Cim Property Fund Management• Citibank Europe, pcl• Citibank NA• City Speakers International (UK)• Clydesdale Bank plc• Comac Capital LLP• Combined Insurance (UK)• Commerzbank AG• Co-operative Bank (UK)• Co-operative Financial Services• Coutts & Co• Coventry Building Society• CRDB Bank Plc• Credit Agricole Asset Management• Credit Agricole Corporate & Invt Bank• Credit Suisse (Switzerland)• Credit Suisse (UK)• Crown Agents Bank Limited

• ČSOB, a.s.• Cyprus Development Bank PC• DC Gardner (UK)• Danske Bank A/S• Deloitte LLP• Depfa Bank Plc• Deutsche Bank AG• Deutsche Postbank AG• DNB ASA (Norway)• Dr Nagler & Company GmbH• Duncan Lawrie Ltd• DVB• DZ Bank AG• EFG Bank• EIB• Eksportfinans• Eurobank EFG Cyprus Ltd• Euromoney (UK)• EuroNBank (Greece)• Europe Arab Bank plc• European Commission• European Investment Bank• Eximbank (Romania)• FBN Bank (UK) Ltd• FCE Bank plc• FCMB UK Limited• Fidelity Worldwide• Finance and Credit Bank• Finans Bank Turkey• Friends Life• Ford Credit Europe• Ernst & Young ShinNihon LLC• Garanti Bank• GE Capital UK• GE Financial Markets• Genesis Investment Management • Ghana International Bank plc• Gjensidige Forsikring ASA• Guaranty Trust Bank UK Ltd• Gulf International Bank (UK) Ltd• Habib Allied International Bank• Habib Bank (Switzerland)• Habib Bank UK• Hampshire Trust plc• Harrods Bank Ltd• Hellenic Bank Public Company• Hitec (Laboratories) Ltd• Hrvatska Postanska (Hungary)• HSBC Bank plc• HSH Nordbank AG• HVB Bank (Czech Republic)• Hypo Alpe Adria Bank• ICA AB• ICAEW (UK)• ICICI Bank UK PLC• IF P&C Insurance Ltd• IG Index plc• Im Bank (Russia)• ING Bank N.V. (Slovakia)• ING Direct (UK) Ltd• ING Group (Netherlands)• International Bank Plc• International Development (Eire)• International Financial Services• International Moscow Bank• Investec Private Bank (UK)• Investec• Islamic Bank of Britain• Islandsbanki• J.P. Morgan Europe Limited• JC Rathbone Associates• JP Morgan Chase (UK)• JP Morgan Europe Limited• JT Bank• Jyske Bank A/S• KBC Bank NV• KBC Global Services/ ASM• Khazanah Nasional Berhad• King & Wood Mallesons• KPMG• Kredietbank (Luxembourg)• Landsbanki (Iceland)• LeasePlan Corporation N.V.• Lloyds Banking Group

• Marex Financial Limited• Marfin Laiki Bank Public Co. Ltd• Mazars• MCB• MEAG Munich ERGO Asset Mgmt• MIS• Mitsubishi UFJ Trust and Banking Corp• Mizrahi Tefahot Bank Limited• Mizuho Corporate Bank Ltd• Mizuho Investment Management • MKB Bank (Hungary)• Mondrian Investment Partners• Morgan Stanley• N M Rothschild & Sons Ltd• National Australia Bank Ltd• National Bank of Abu Dhabi• National Bank of Belgium• National Bank of Egypt (UK) Ltd• National Bank of Greece• National Bank of Kuwait (Int) plc• Natixis• NatWest Stockbrokers• NBS (Slovakia)• Nederlandse Waterschapsbank • Nemo Personal Finance• Newedge Group• Newton Investment Management• Nomura Bank International plc• Nordea (Finland)• Nordic Investment Bank (Norway)• OFI-AM• Ohrlings Pricewaterhouse Coopers• Pasha Insurance OJSC• Perbadan Tabung Amanah Islam

Brunei• Pictet & Cie• Piraeus Bank• Punjab National Bank (International)• PricewaterhouseCoopers (Romania)• PricewaterhouseCoopers (Sweden)• PricewaterhouseCoopers (UK)• R Raphael & Sons plc• Rabobank International• Raiffeissen Zentralbank (Austria)• Rathbone Investment Management• Reliance Bank Ltd• Rogers Group• Royal Bank of Baku• Royal Bank of Canada• Royal Bank of Scotland (UK)• RCB (Cyprus)• RZB Bank Austria• RZB Bank Romania• SAB• Sainsbury’s Bank plc• Samba Financial Group• Sampo plc• Santander Bank• Santander Cards UK Ltd• Schroder & Co Ltd• Schroder Investment Management • SEB• SERV Swiss Export Risk Insurance• SG Hambros Bank Limited• Shanghai Commercial Bank Ltd• Siemans plc• Silicon Valley Bank• Smith & Williamson Investment Mgmt• SNS Reaal• Société Générale• Societe Generale Bank - Cyprus Ltd• SOFTEC• Sonali Bank (UK) Ltd• Standard & Poor's• Standard Bank Plc• Standard Chartered Bank• State Street Bank & Trust Co.• Sumitomo Mitsui Banking Corp• Swan Insurance Company Limited• Swedbank (Sweden)• SWIP• Tatra banka,a.s.• TD Securities• TD Waterhouse Inv Serv (Europe) Ltd

• Tesco Bank• The Automobile Association• The Bank of New York Mellon• The Bank of Nova Scotia• The Bank of Tokyo Mitsubishi UFJ• The Co-operative Bank plc• The National Microfinance Bank• The People’s Bank Zanzibar Ltd• The Royal Bank of Scotland Group• The Toronto-Dominion Bank• Turkish Bank (UK) Ltd• UK Asset Resolution• UKAR• Ulster Bank Ltd• UniCredit Group• United National Bank Ltd• United Trust Bank Ltd• UBA Capital (London)• USB Bank Plc• Vanquis Bank Ltd• Veranda Management Ltd• Volksbank (Slovakia)• Vontobel AG Switzerland• VTB Capital Plc• VÚB, a,s.• Wells Fargo Bank NA• Wesleyan Bank Ltd• Wesleyan Savings Bank Ltd• Winterflood Securities Ltd• WorldPay• Wragge & Co LLP• Yorkshire Building Society• ZKB

Russia & CIS States• Alfa Bank (Ukraine)• Asian-Pacific Bank (JSC)• Bank TuranAlem (Kazakhstan)• Banking Institute of Armenia• Central Bank of Armenia• Davachi Broyler• Eurasian Bank (Kazakhstan)• Gazprombank• Halyk Bank• HSBC (Armenia)• ICL-KME CS• Im Bank (Russia)• JSC (Bel Swiss Bank)• LVA Europe• PASA Bank• Prometey Bank (Armenia)• PWC (Ukraine)• Raiffeisen Bank (Russia)• Rosinkas• SPbAEP, JSC• Transkredit• Troika Dialog (Russia)

8

The Islamic Banking & Finance Academy is a fully customised ‘in-housetraining academy’ for organisations seeking to offer training to their ownmanagement, staff and employees as well as their clients, regulators, supplychain partners and others. It is a responseto the challenges faced by organisationsseeking to retain and develop theirexisting management teams tointernational best practise levels, andmaintain regulatory compliance andcommercial competitiveness.

Developed and delivered using our proprietaryACCADEMIA ProgrammeTM additional in-house trainingacademies are also available:

n Asset and Wealth Management Academy

n Banking Academy

n Capital Markets & Commodities Academy

n Compliance Academy

n Financial Crime Academy

n Insurance Academy

n Internal Audit Academy

n Financial Risk Academy

Combine Academies to create your organisation’s own in-house Banking and Finance Institute.

Islamic Banking & FinanceAcademy

“”

Very good topics and helpfulto understand different views

of Islamic products.Hisham A Karim,

Senior Manager/Financial & Operations Auditor – Abu Dhabi Commercial Bank

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www.riskrewardlimited.com

9

The Accademia ProgrammeTM is aready-made In-House training academywhich contains more than 800 trainingcourses designed to meet the needs of anindividual organisation (i.e. banking institute,training centre, major banks).

Seven main streams and five controlstreams constitute the 12 pillars of theProgramme. Organisations can choose toadopt the complete Islamic Banking &Finance Academy or blend modules intotheir existing training programmes.

In-House Training

If an in-house training function is a new feature ofyour organisation a set-up service is available toprepare your organisation for this new function.

Our comprehensive ACCADEMIA ProgrammeTM

includes:

n Initial Board level debriefs, total business impactassessments;

n Total project management design;

n Agenda development and facilitation of decision-maker and stakeholder engagement meetings;

n Finance, human resource and IT/operations policy,process and procedure alignment workshops;

n User group surveys, delegate knowledgesnapshot reports and pilot courses;

n Learning Management System, testing,examinations and reporting;

n Monitoring and Board and regulatory reporting;

n Dedicated Accademia project managementwebsite and Project Managers for the exclusiveuse of your project.

Use all of or only selected AccademiaProgrammeTM services as your project requires.

Expert Trainers & Course Materials

Each of our 750 trainers are experts in their fieldswith 20-30 years of relevant industry experience,ensuring that our courses add value from day one.Our expert trainers are qualified bankers, charteredaccountants, internal auditors and insurancespecialists. Each writes the course materialsthemselves using the most up-to-date regulatoryand industry technical papers in addition to theirown unique experiences acquired in both developedand emerging financial markets.

Time & Delegates

Most courses are short (2-10 days) and aimed attransferring knowledge to those who are facing ashort and medium-term business or regulatorychallenge with a focus on practical applications ofknowledge and personal interactivity between thetrainer and the delegates. Delegate groups areusually between 15-20, although courses are alsoavailable in a lecture style for large groups of up to150 delegates.

A pilot programme is available, designed to serve asa building block to meet the preliminary budgetneeds of a long term programme.

Driving Global Industry Change

As part of our training solutions and educationalservices, regulators and those regulated alike arecoming together in our seminars, workshops andclassrooms to listen and learn from not just ourexperts but each other. This continues to have animportant impact on the changing economicenvironment and the tough decisions being taken bygovernments and banks in the months and years tocome. We are proud to be playing our role in therefreshing of the financial services infrastructure ofthe West and facilitating the innovative responses tonew infrastructures developing in Nigeria, Egypt, theUAE, Morocco, East Africa and Malaysia inparticular.

Please contact us for further details orto book live presentations of our Accademia ProgrammeTM.

11

Classroom Training by Subject Available as Sponsored, Public or In-House options

Solvency II Training Courses

We deliver training to regulators, banks and insurers across the world via trusted and reputable affiliatesincluding government training centres, training companies and directly on an in-house basis.

For information on Public & In House Courses please contact your local training provider or Risk Reward Limited.

ISL001 AAOIFI Certified Islamic Professional Accountants(CIPA)

ISL025 AAOIFI Certified Shari’a Adviser and Auditor (CSAA)

ISL026 AAOIFI and IFRS Standards /Selected TopicsWorkshops

ISL002 AAOIFI Principles – Accounting and AuditingOrganisation for Islamic Financial Institutions

ISL027 AAOIFI Standards / Selected Topics Workshops

ISL028 Advanced Credit Risk for Islamic Banks

ISL003 Advanced Islamic Banking & Finance (Products)

ISL004 Auditing Islamic Banking & Finance

ISL029 Auditing Islamic Finance (for Regulators, Banks andInsurers)

ISL012 CII Islamic Insurance (Takaful) Certificate

ISL010 CISI Islamic Finance Qualification

ISL005 Client Relationship Management in Islamic Finance

ISL016 Corporate Governance in Islamic Banking

ISL006 Credit Risk in Islamic Finance

ISL030 Financial Crime Deterrence for Islamic Banking andFinance

ISL031 Guidelines for Corporates Doing Business withIslamic Bankers/Insurers

ISL032 IFSB Standards/Selected Topics Workshops

ISL033 Islamic Asset Backed Lending (Corporates)

ISL034 Islamic Audit and Accounting (AAOIFI)

ISL035 Islamic Banking and Finance for the Board and Non-Executive Directors

ISL007 Introduction to Islamic Banking & Finance

ISL023 Islamic Bond Issuance

ISL024 Islamic Capital Markets & Commodities

ISL036 Islamic Consumer Finance

ISL008 Islamic Corporate Banking

ISL038 Islamic Corporate Credit Risk & Balance SheetAnalysis

ISL039 Islamic Corporate Governance (Banks & Insurers)

ISL009 Islamic Credit Loan Restructuring

ISL040 Islamic Finance Collections: Practical Solutions(Country Reviews)

ISL041 Islamic Finance Sales Techniques

ISL011 Islamic Financial Services Board (IFSB)

ISL042 Islamic Insurance/Selected Topics Workshops

ISL013 Islamic International Trade Finance

ISL043 Islamic Investment Banking (Regulators and Banks)

ISL014 Islamic Private Banking, Wealth and PortfolioManagement

ISL044 Islamic Project Finance

ISL015 Islamic Retail Banking

ISL045 Islamic Risk Management for Banks

ISL024 Islamic Risk Management for Central Banks

ISL046 Islamic Risk Management for Insurers

ISL047 Islamic Stress-Testing and Reverse Stress-Testingfor Banks/Insurers

ISL017 Islamic Stress Testing and Scenario Modelling

ISL051 Islamic Treasury Management (Regulators & Banks)

ISL018 Liquidity Risk in Islamic Finance

ISL019 Market Risk in Islamic Finance

ISL020 Micro Finance and Business for Islamic Banks

ISL052 Pricing Islamic Products (Banks)

ISL053 Risk Management of Islamic Banking and Finance

ISL021 Risk Management of Islamic Banking & Finance

ISL054 Shari’a Variations & The Impact on InternationalIslamic Finance

ISL056 Supervision of Islamic Banking

ISL055 Supervision of Islamic Insurance

ISL022 Treasury Management for Islamic Banks

ISL058 Wealth and Asset Management

Risk Reward writes and delivers practical Insurance and Management training, both in-house andpublic courses, for bank regulators and practitioners focusing on the following areas:

“”

The course has absolutely helped me to gain a basic

understanding of Islamic Finance products.

Aditya Malviya, Risk Management – Arqaam Capital Ltd

11

Public Training Courses Preparatory training to internationally recognised qualifications

Islamic Finance Qualification and Training Course (IFQ)

The CISI is the UK’s largest and most widelyrespected professional body for the Securities andInvestment industry. CISI Certificates are included inthe UK’s Financial Services Skills Council’s list ofAppropriate Examinations and are recognised for allmajor activities.

IFQ

The IFQ is a ground-breaking qualification thatcovers Islamic finance from both a technical and aSharia perspective, providing the first internationalbenchmark in the area of Islamic finance.

It provides delegates with an understanding of theinfluence of sharia in a business context andprepares delegates to hold key positions in theIslamic finance and takaful (Islamic insurance)industries.

The qualification and training course are appropriatefor existing and new employees and those seeking acareer in Islamic finance. Since its launch, the examhas been taken in over 40 countries.

Key features of the IFQ

n Provides an essntial knowledge of the generalprinciples of sharia (fiqh al muamalat) and itsapplication to Islamic banking and finance.

n Covers the different types of Islamic financecontracts and products available.

n Examines the practices used in the Islamicfinancial markets and the principles behindinvestment selections.

n Employing IFQ holders indicates that a companyis contributing to the development andpromotion of high ethical standards amongst itsstaff.

n Initiated and supported by the Central Bank ofLebanon (Banque du Liban).

n Awarded jointly by the CISI (recognised byOfqual, the UK government education regulator)and l’Ecole Supérieure des Affaires (ESA).

n Offered in English and in Arabic.

Who should attend

All banking and financial professionals either workingwithin an Islamic financial institution or intending todo so and any other professionals working in thefield who wish to develop their skills andunderstanding ofIslamic finance.

For more information about CISI training courses and IFQ please contact us atCISI@riskrewardlimited.com or telephone +44 (0)20 7638 5558.

2015 CISI – Islamic Finance Qualification (IFQ) Certificate

London Feb 9-11 Nov 16-18Dubai May 19-21 Oct 6-8

“

”

Since its inception, the IFQ hasbeen highly acclaimed as it

contributes the the widening anddeepening of the skills of financial

practitioners. We are confidentthat this third edition will further

confirm its pertinence to the financial industry at large.

Raed H. Charafeddine, First Vice Governor – Banque du Liban

Chairman – Advisory Council for Islamic Finance

Adding Value to your business

At Risk Reward we add value to all ofour training projects from the firstinstance by offering a host ofcomplimentary services such as:

n Conference Calls with you to determine yourbusiness goals and preferred training formats

n Account Manager to offer you full support andadvice and to ensure that all your requirementsare met efficiently

n Professional friendly and prompt response toyour enquiries

n Customised course outlines and coursematerials to meet with your organisation’s ordepartment’s specific needs

n Questionnaires created with your teams todetermine delegates levels and depth of subjectknowledge pre-training

n Evaluation forms prepared for delegates post-training

n Post-training diagnostic, analytical andreporting services and conference calls

n Complimentary email Question & Answerservices to the trainer from the delegates for 3months

12 www.riskrewardlimited.com

“”

There was continuous discussion in a friendlyatmosphere which made it possible to exchange

thoughts with all the participants and we were in fullreview of Islamic finance and its

advantages and challenges it faces.Suhail Abdel Rahman Kahder,

Corporate Real Estate – Abu Dhabi Islamic Bank

13www.riskrewardlimited.com

Risk Reward’s Additional Solutions & Services

Risk Reward Search Ltd.a leading supplier of executive and contingent search solutions within Governance, Riskand Compliance (GRC) and Internal Audit This enables us to cover clients’ full projectlifecycles including tailored staff resourcing solutions when projects phase move fromimplementation into business as usual.

For more information please contact:Benn Pople at Benn.Pople@riskrewardsearch.com or call +44 (0)20 7638 5584

Niven Capital Ltd.our specialist corporate finance divisions, providing both business funding and capital raising services to ourglobal client base. Both our capital markets and funding divisions are helping our clients to determineappropriate funding solutions in the most cost-effective and time critical manner across internationalmarkets.international markets.

For more information please contact: Nick Sullivan at nsullivan@nivencapital.com or call +44 (0)20 7382 8787

Red ChairTM – when you need to know...now.Sometimes you may need to know something right now. For instance, before the regulator calls, before yourcompetitor beats you to it, before your external auditor discovers it or before facing the Risk or Audit committeeor your Board. For these or similar situations, industry-experts with more than 20 years relevant internationalsubject matter expertise and experience in banking, capital markets, financial services and insurance are availableby telephone ‘live’ to give you the information you need when you need it. Brief, concise answers to yourquestions are given ‘live’ in English and followed up in writing charged on an hourly basis. As we are fullyindependent, your questions are managed discreetly, using either an account set up to your firm for multiple usersor for you personally, with payment by credit card/PayPal. High quality advice, professional standards andcomplete confidentiality are guaranteed.

For more information please contact: Leigh Morgan at LM@riskrewardlimited.com or call +44 (0)20 7638 5559

S E A R C H

As part of the Risk Reward Group of Companies, we also offer the following ancillaryservices – either as stand-alone solutions or, as needed, seamlessly integrated withour other core offerings:

14

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The quarterly independent risk review for banks and financial institutions worldwide

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bscription only – not for sale or resale

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Existing Risk Infrastructure

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likely to hold?

n Africa: The “Last Emerging Market”

n Africa: The Fascination, Rewards,

Hazards and Management of Risk

n Casino v. Jungle

n The Future of Islamic Risk

Management

n To Aggregate Risk or Not?

Should that be the Question?

The Mythabout

ExchangeTraded

Deriviatives

riskupdateThe quarterly independent risk review for banks and financial institutions worldwide

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© Risk Reward Ltd UK. All rights reserved. Available by subscription only – not for sale or resale

‘No CreditorWorse Off’:ResolutionMechanismsUpdate

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Also in this issuen Black Swans Mean Business (Part II)n OTC Clearing Evaluation (Part II)n Your Internal Audit: Is it DeliveringFor You?n Understanding Model Validationn Islamic Finance: Unique RiskManagement Challenges and theImpact of Basel IIIn The New Basel III Rules and itsImplications for US Banks

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© Risk Reward Ltd UK. All rights reserved. Available by subscription only – not for sale or resale

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Also in this issuen Being Real about Riskn Has Internal AuditMeasured Up: What DoWe Do Next?n Islamic Risk Management– Afghan Stylen Defining the InternalModel for Risk & CapitalManagement under theSolvency II Directiven Working with Men in theRisk Environmentn Negotiation Risk

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