ULIFAM member, Assistant Professor Dr. Tawfik Azrak has participated in presenting paper titled "Shariah Issues of Islamic Structured Products: Case Studies of Malaysia to the ICOAEF'19. 

In the ICOAEF’19 V. International Conference on Applied Economics and Finance & EXTENDED WITH SOCIAL SCIENCES. Which held in April, 9-10-11, 2019 at  Acapulco Resort & Convention & SPA, Kyrenia, North Cyprus.

The ICOAEF’19 V. International Conference is supported by many international institutions and universities, including Social Sciences University of Ankara (ASBU). 

Dr. Azrak' paper was discussing the issue of Islamic structured products which is basically have similar features to the conventional ones in terms of purpose, economic benefits and basic structural features. While The difference is that Islamic structured products adheres to Shariah principles by avoiding riba (usury), gharar (uncertainty), zulm (injustices), and operates holistically in a Shariah compliant manner. This includes utilizing Shariah contracts approved by the Shariah Advisory Council of the central bank of Malaysia to structure the investment, and contains underlying assets that are permissible by Shariah.