AQ057-3.

5-3-ILFIBF

Assignment

Page 1 of 3

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.

Level 3

Asia Pacific University of Technology & Innovation

20156

AQ057-3.5-3-ILFIBF

Assignment

Page 2 of 3

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

Level 3

Asia Pacific University of Technology & Innovation

20156

AQ057-3.5-3-ILFIBF

Assignment

Page 3 of 3

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)

Level 3

Asia Pacific University of Technology & Innovation

20156