AQ057-3.5-3-ILFIBF Assignment Page 1 of 3

Level 3 Asia Pacific University of Technology & Innovation 20156

Performance Expectation

Marks are awarded based on the following guidelines:

Grade Description of performance level

75% 100% There were mature and interesting points based on your research and reading.

Each point supported with valid explanation. Shows understanding of subject

matter. Adequate reference given. No grammatical errors or spelling

mistakes.

65% 74% There were sufficient points raised with valid explanations provided. There is

adequate understanding of subject matter. Minor grammatical errors and

spelling mistakes

50% 64% No clear understanding of research subject. Insufficient points given and

explanations are unclear or not helpful in clarifying points. Not enough

reference given. Major grammatical and spelling mistakes.

Below 50% You did not show understanding of the subject matter. Points are off-topic

and do not tie back to research. No understanding of theories and concepts

taught. Not enough reference given. Numerous grammatical and spelling

mistakes.

AQ057-3.5-3-ILFIBF Assignment Page 2 of 3

Level 3 Asia Pacific University of Technology & Innovation 20156

Assesment Criteria

The criteria below detail are the areas, which will be taken into account when the

assignment is marked.

1. To address the subject satisfactory, a typed format is mandatory. Pass assignments are

expected to be legible, tidy, well organized and written in clear understandable

English.

2. High grades [>80%] need to demonstrate sustained coherent analytical ability. A

systematic approach to analysis and evaluation is required for grades 60% to 79%.

3. Evidence of reading and some understanding of concepts are needed to achieve a pass

grade [50%]. Integration of theory and practice is expected for any grade above 60%.

4. You are expected to clearly state any assumptions you make, and support statements

and theories by referencing to appropriate sources. [This is essential for higher grades

but does not necessarily prejudice a pass mark [50%] if it is missing].

5. There must be proper referencing and citation. Harvard Referencing is a must.

6. As well as submitting a hard copy of your assignment you are also required to submit

the electronic version. Unless both, hard copy and electronic versions are provided it

will not be counted as submitted.

Formatting Instruction

- Font Times New Roman, Font Size 12

- Line Spacing 1.5

- Justified

AQ057-3.5-3-ILFIBF Assignment Page 3 of 3

Level 3 Asia Pacific University of Technology & Innovation 20156

ASSIGNMENT QUESTIONS

INDIVIDUAL ASSIGNMENT

SHARIAH GOVERNANCE FOR ISLAMIC CAPITAL MARKET:

A STEP FORWARD

Since the last few decades, Islamic finance industry has developed tremendously

penetrating not only the Muslim countries but surprisingly the non-Muslim countries as well.

It has been acknowledged by the scholars on the need for this development to cater for the

Islamic banking, Takaful and Islamic capital market industries. These three main industries

are interrelated and dependent on each other in order to ensure that the whole Islamic

financial system is in compliance with the Islamic principles. Among these three streams of

the service industry, the Islamic capital market plays a crucial role to support the other two.

Since Islamic banks and Takaful operators have to invest to provide the benefits to the

investors and policy holders which are compatible with the conventional counterparts, the

Islamic capital market is assumed to be the backbone for the two to survive and grow in the

Islamic finance industry. Country such as Malaysia has issued the Shariah Governance

Framework (SGF) specifically for Islamic banking sector in its most recent development.

(Nawal Kasim, Sheila Nu NuHtay and Syed Ahmed Salman)

REQUIRED:

Referring to the above abstract and the full research article attached, critically analyze the

full article.

You are expected to support answer with sound academic research.

(Total 100 marks)