Case Study
Content
Case Study Assignment for IB 1005 January Semester 2011(20%)
Your manager has asked you to approach 2 existing customers who have been unimpressed with the bank’s services so far. He has asked you to evaluate, using available customer data, what products and services that can be further sold to this two customers in order for them to enjoy an improved customer experience with the bank. The first customer is your manager’s best friend of 20 years, Mr. Michael, who now runs his own successful business, while the second customer is your manager’s nephew, Adam, who is currently working in another bank. Your manager informed that Mr. Michael is unhappy with his current banker, and a few other reputable banks are already promoting their products and services to him. Due to his wide business network, your manager believes there is a high potential for further products to be sold to him in the future. Mr. Adam, on one hand, comes from a wealthy family, and by improving his experience with the bank, your manager believes there is a continuous source of quality referrals from him in the future. The main intention is to ensure each customer takeup three or more products from the bank to ensure customer loyalty and product retention. The information available on the 2 customers extracted from your bank’s CRM system is as follows: Information Available Age Occupation Status Personal Income Household Income Product with other Banks Mr. Michael 50 Businessman Married with 4 children aged between 8 to 17 RM18,000 to RM20,000 p.m. RM25,000 to RM27,000 Loans Outstanding • Housing Loan RM248,000 (Value RM850,000) • • • • Shop loan RM450,000 (Value RM470,000) Personal Overdraft RM213,000 Credit Card RM55,500 Car Loan RM176,000 • • • Mr. Adam 29 Marketing manager Single RM6,000 RM6,000 Loans Outstanding • • Car Loan RM55,000 Credit Card RM12,000 Personal Loan RM8,200 Asset Basic Current / Savings Account RM1,990 High Return Savings
Assets
• • • • • • Product with your Bank Other Assets • • •
Current / Savings Account RM78,000 High returns Savings RM55,000 Fixed deposits RM480,000 Structured Investments RM400,000 Unit Trust RM66,000 Insurance RM50,000 value Current Account : RM2,050 Shares RM111,000 Mutual Funds RM79,000 Pension FundBalance • • •
RM3,000 Fixed Deposit RM9,000 Unit Trust RM7,000
•
Savings Account : RM15,000 Shares RM1,570 EPF( Pension Fund) Balance RM42,000
•
•
Estimated Net worth Working Experience (years) Personal Objectives Hobbies
RM1,877,000 RM4.1 million 35 years Health & Family Golf, Travel & Cars
Not available 6 years Lifestyle & Career Socializing &Movies, golfing
Keywords
Banking, Customer requirements, Customer satisfaction, Customer relationship, Islam, Islamic banking products, Services marketing.
Abstract
The Islamic banking system is gaining momentum. Many international conventional banks have started to open branches which operate in accordance with the Islamic Sharia'h principles in some Islamic countries. The Islamic banking system is expected to face strong competition not only from the Islamic banks but also from well- established conventional banks offering Islamic products and services. In this study, an attempt is made to assess the degree of customer awareness and satisfaction towards Islamic banking services. The analysis of two customers of different age group, portfolio and social status revealed a certain degree of satisfaction of many of the Islamic bank's facilities and products. Banker targets a potential business from these customers
through fulfilling their banking requirements and reduces their level of dissatisfaction with some of the Islamic bank's products & services. To build a value added banking relationship. Although the information available on the bank’s CRM about this 2 customers show that they do not deal with a number of specific Islamic financial products like Murabaha, Musharaka, Mudaraba and Ijara.
1.
the (5 marks)
From the available data, what other products that you can cross-sell to improve customer relationship and profitability for the Bank?
•
MUDARABAH
The Majallah al-hakam a-Adliyayah ot The Mejelle (Ottoman code of Islamic civil law) defines mudarabah as “a kind of partnership on the condition, that the capital is to be found by one, and the labour & work by the other and that one of the conditions of mudarabah is “that the capital be delivered to the mudarib” “Mudarabah contract is a profit sharing contract between the entrepreneur and the capital provider. Mudarabah contract is applied in deposit taking arrangement such as current account, savings account and investment account. The contract is also applied in interbank investment and Islamic bonds. In takaful industry, mudarabah contract is used as one of the operational model as well as being applied for the takaful funds.” BNM (2007) Mudarabah is defined in different ways by jurists but relatively the same in term of two parties involved which are the rabb mal and mudarib; and the purpose of the contract is to gain profit even though they don‟t clearly stated it. There is no explicit injuction from the Al-Quran in permitting mudarabah by the jurists have found some verses in the Al-Quran indicating the legality of mudarabah. In one of the verse, Allah says, “Others travelling through land seeking of Allah‟s bounty.” Even though, the verse does not directly address the legality of mudarabah, it is interpreted to mean those who travel for the purpose of trading and seeking permissible income, including those who work with another’s capital in exchange for part of the profits. As for the Sunnah, the legality of mudarabah is divided into two groups of evidence. The first group is mainly the act of the Prophet Muhammad (pbuh) and the second group is mainly from the Prophets sayings or endorsements to mudarabah contracts practiced during his time. There was clear evidence that the Prophet himself worked as mudarib for Khadijah before he was appointed as a Prophet. It also reported in a hadith by the authority of Ibn „Abbas as a tacit approval from the Prophet on mudarabah whereby Ibn „Abbas‟s father imposed
condition whenever he gave his money in a mudarabah that the mudarib will not take his money across the sea, into any valley, or buy any animal with a soft belly, and if the mudarib were to do so, then he must guarantee the capital. The Prophet heard this practise and permitted it. In addition, the Companion practices on mudarabah are also cited as supporting mudarabah. Relying on all such evidence and alike, Muslim jurists has agreed unanimously that mudarabah is permissible. However, diverse of opinions of the jurists are found which happens due to the fact that some jurists believe that mudarabah defies analogy. MUSHARAKAH Musharakah or shirkah can be defined as a form of partnership where two or more persons combine either their capital or labour together, to share the profits, enjoying similar rights and liabilities2. From the very inception of human society, the methods to meet day to day needs have been changing with the change of social, economic, scientific, cultural and political circumstances, especially habits, fashions and the standard of living. These methods regulate the commercial activities and vary from place to place and time to time. The Arab society at the time of the rise of Islam had very simple financing methods and forms of business peculiar to that society. Commercial activities using the concept of musharakah has been adopted by businessman in Arab at time of Holy Prophet. He not only ratified it, but also himself did business on the basis of musharakah3. After Hijra4, the muhajireen5 and the ansar6 were declared by the Prophet to be brothers. Subsequently they joined as partners, in the form of musharakah, muzara and musaqat, in their trade and commerce. The nature of the transaction, in the different forms, is identical. The different nomenclature in Arabic refers to diverse activities such as muzara in agriculture, musaqat in gardening and musharakah in trade. The musharakah of capital and labour is called mudarabah. These four forms were so developed that they became independent institutions and the jurists formed detailed rules about them. There is a consensus of opinion among the jurists of all schools- of thought (including Hanafi, Maleki, Shafei, Hanbali and Shia) that musharakah is a valid and legitimate contract in Islam. The jurists, however differ over its form conditions and other details.
2.
marks)
What additional information would you require from the customer to enable you (5
to improve the customer portfolio? Discuss.
“CRM means recognizing the customer wherever they interact with the Bank i.e. a 360 degree view of the Customer”
The CRM Capabilities Modules: The four components of CRM Capabilities can be summarized as follow: 1. Understand Markets and Customers This is about having the intimate and accurate data and information about our customers. Understanding the customer’s profile, segment, ongoing activities, loyalty and affinity with the bank, percentage of customers who use one or more of the services after using bank’s initial service, etc., are just some aspects of customer intelligence that help drive business strategies, cost effective marketing and service formulation decisions. 2. Develop Offering This module allows us to think of the following when developing banking products and services: In which segment is the Bank performing best? With what Product? Through which channel? Who buys what? At what price? At what profit margin? Profitability by product line and product life cycle; Designing and executing targeted marketing campaigns, e.g. customer acquisition, cross selling, up selling How can leads be cost effectively captured and capitalized as revenue Opportunity for sales forces to close it? 3. Acquire Customer How complaints are captured from all touch points and managed (escalation, tracking and monitoring); 360 degree view, integration of customer information from across the entire organization: Branch/ Call Centre/ Internet/ ATM/ Payment Systems and Credit Checking Bureau Case management – how moments of interaction are captured and logged into the system How service requests from across all touch points are managed and tracked Performance monitoring and Management dashboard What is customer saying about the bank in terms of Satisfaction level at all contact points (such internet, phone-ins, physical branch locations), Speed of service, knowledge of staff 4. Retain Customers Aligning loyalty programs to CRM – structuring loyalty programs to attract and cultivate only the right customers Delivering the right loyalty program for the right segment of customer base
Customer Loyalty Analysis – Tracking behaviors’ & purchasing habits
Therefore, it is imperative for us to have a CRM system which will support Bank
3.
(5 marks)
Are there any further services that you may offer / customize for him? Discuss.
Musharakah al-mutanaqisah is a new invented transaction that consists of a partnership between two parties in a project that has a potential to generate income. In this contract, one of the partners promises to gradually purchase the shares of the other partner. It is immaterial whether the purchase was made using the income earned by the purchasing partner from the said project or income derived from other sources; ii) The basis of the formation of a musharakah mutanaqisah contract: It is a contract that is concluded by two parties, where each of them contributes capital to the partnership, either in the form of cash or kinds (kinds - after valuation has been done). The profit sharing ratio must be agreed upon by both parties, while the losses are borne on a pro rata basis, i.e. in accordance to the shares of each partner; iii) Musharakah mutanaqisah is featured with the existence of a binding promise on only one of the partners, i.e. he will buy the shares of the other partner, on the basis that the selling partner will have the option of whether to sell or not to sell. This is done by concluding contracts of sale upon the purchasing partner buying each part of the selling partner‟s shares (the contracts of sale can be concluded using whatever methods that indicate offer and acceptance); iv) It is permissible for one of the partners to rent the share of the other partner at a certain rental amount for a specified period, while each party is still responsible for the major maintenance (if the musharakah mutanaqisah contract involves the sharing of an asset, e.g. house), in proportion to each party‟s share; v) Musharakah mutanaqisah is permissible, if the general laws of partnership are observed and the following rules are taken into consideration: a) Non-existence of undertaking for either of the partners to purchase the shares of the other partner at cost price, i.e. the price of the shares at inception. This is because doing so will mean that a party is guaranteeing the share of his partner. Conversely, the price of the shares ought to be based on the market price on the day of the sale or based on a price that is agreed upon by both partners, at the time of sale; b) Non-existence of a stipulation for one of the partners to bear the entire insurance or maintenance expenses. The expenses should instead be borne in proportion to each partner‟s shares; c) Profit should be distributed based on the profit sharing ratio. No party is allowed to stipulate a specific amount from the profits or a percentage from the amount of his capital contribution; d) Detailing the contracts and obligations involved in the musharakah mutanaqisah transaction; and e) There should be no stipulation to prevent either of the partners to withdraw his contribution (funding).
4.
marks)
In your opinion which is easier to influence and manage, an adult customer Mr. (5
Michael or a young manager like Mr. Adam? Why?
Mr.Adam is more influencing personality due to the investment psychology. At youth he can take more risk than Mr.Micheal. Moreover Mr.Micheal is an experienced hand.
The assignment should not exceed 10 pages, single spacing, and all answers should be in one document file. For late submissions, marks will be deducted accordingly. Dateline of submission: 28 March 2011
ACADEMIC DISHONESTY Membership in the INCEIF learning community imposes upon the student a variety of commitments, obligations and responsibilities. It is the policy of INCEIF to impose sanctions on students who misrepresent their academic work. These sanctions will be selected by appropriate classroom instructors or other designated persons consistent with the seriousness of the violation and related considerations. Examples of academic dishonesty include but are not limited to: (1) Plagiarism, taking someone else’s intellectual work and presenting it as one’s own (which covers published and unpublished sources). Using another’s term paper as one’s own; handing in a paper purchased from an individual or agency; submitting papers from living group, club or organization files; or using another’s computer program or document are all examples of plagiarism. Standards of attribution and acknowledgment of literary indebtedness are set by each discipline. Faculty members are encouraged to include disciplinary or class-specific definitions in course syllabi. Students should consult with their department or with recognized handbooks in their field if in doubt. (2) Cheating is unacceptable in any form. Examples include consultation of books, library materials or notes during tests without the instructor’s permission; use of crib sheets or hidden notes; intentional observation of another student’s test; receipt of a copy of an exam or questions or answers from an exam to be given or in progress; substitution of another person for the student on an exam or another graded activity; deliberate falsification of lab results; submission of falsified data; alteration of exams or other academic exercises; and collaboration on projects where collaboration is forbidden. (3) Falsification, forgery or alteration of any documents pertaining to assignments and examinations. (4) Students who (cooperate or in other ways promote) participate in promoting cheating or plagiarism by others (or who take credit for the work of others) will also be in violation of this policy. Students participating in any violation of this policy must accept the consequences of their actions. Classroom instructors and/or university review/appeals committees and administrators will assess the sanctions for violation of this policy. The seriousness of the violation will dictate the severity of the sanction imposed.
Course Leader: HAMDAN HJ IDRIS, MBA (Islamic banking & finance) BSc Econs, MBA (Islamic banking & Finance) Certified Professional Trainer (MIM) Teaching fellow/Industry Expert INCEIF
Your manager has asked you to approach 2 existing customers who have been unimpressed with the bank’s services so far. He has asked you to evaluate, using available customer data, what products and services that can be further sold to this two customers in order for them to enjoy an improved customer experience with the bank. The first customer is your manager’s best friend of 20 years, Mr. Michael, who now runs his own successful business, while the second customer is your manager’s nephew, Adam, who is currently working in another bank. Your manager informed that Mr. Michael is unhappy with his current banker, and a few other reputable banks are already promoting their products and services to him. Due to his wide business network, your manager believes there is a high potential for further products to be sold to him in the future. Mr. Adam, on one hand, comes from a wealthy family, and by improving his experience with the bank, your manager believes there is a continuous source of quality referrals from him in the future. The main intention is to ensure each customer takeup three or more products from the bank to ensure customer loyalty and product retention. The information available on the 2 customers extracted from your bank’s CRM system is as follows: Information Available Age Occupation Status Personal Income Household Income Product with other Banks Mr. Michael 50 Businessman Married with 4 children aged between 8 to 17 RM18,000 to RM20,000 p.m. RM25,000 to RM27,000 Loans Outstanding • Housing Loan RM248,000 (Value RM850,000) • • • • Shop loan RM450,000 (Value RM470,000) Personal Overdraft RM213,000 Credit Card RM55,500 Car Loan RM176,000 • • • Mr. Adam 29 Marketing manager Single RM6,000 RM6,000 Loans Outstanding • • Car Loan RM55,000 Credit Card RM12,000 Personal Loan RM8,200 Asset Basic Current / Savings Account RM1,990 High Return Savings
Assets
• • • • • • Product with your Bank Other Assets • • •
Current / Savings Account RM78,000 High returns Savings RM55,000 Fixed deposits RM480,000 Structured Investments RM400,000 Unit Trust RM66,000 Insurance RM50,000 value Current Account : RM2,050 Shares RM111,000 Mutual Funds RM79,000 Pension FundBalance • • •
RM3,000 Fixed Deposit RM9,000 Unit Trust RM7,000
•
Savings Account : RM15,000 Shares RM1,570 EPF( Pension Fund) Balance RM42,000
•
•
Estimated Net worth Working Experience (years) Personal Objectives Hobbies
RM1,877,000 RM4.1 million 35 years Health & Family Golf, Travel & Cars
Not available 6 years Lifestyle & Career Socializing &Movies, golfing
Keywords
Banking, Customer requirements, Customer satisfaction, Customer relationship, Islam, Islamic banking products, Services marketing.
Abstract
The Islamic banking system is gaining momentum. Many international conventional banks have started to open branches which operate in accordance with the Islamic Sharia'h principles in some Islamic countries. The Islamic banking system is expected to face strong competition not only from the Islamic banks but also from well- established conventional banks offering Islamic products and services. In this study, an attempt is made to assess the degree of customer awareness and satisfaction towards Islamic banking services. The analysis of two customers of different age group, portfolio and social status revealed a certain degree of satisfaction of many of the Islamic bank's facilities and products. Banker targets a potential business from these customers
through fulfilling their banking requirements and reduces their level of dissatisfaction with some of the Islamic bank's products & services. To build a value added banking relationship. Although the information available on the bank’s CRM about this 2 customers show that they do not deal with a number of specific Islamic financial products like Murabaha, Musharaka, Mudaraba and Ijara.
1.
the (5 marks)
From the available data, what other products that you can cross-sell to improve customer relationship and profitability for the Bank?
•
MUDARABAH
The Majallah al-hakam a-Adliyayah ot The Mejelle (Ottoman code of Islamic civil law) defines mudarabah as “a kind of partnership on the condition, that the capital is to be found by one, and the labour & work by the other and that one of the conditions of mudarabah is “that the capital be delivered to the mudarib” “Mudarabah contract is a profit sharing contract between the entrepreneur and the capital provider. Mudarabah contract is applied in deposit taking arrangement such as current account, savings account and investment account. The contract is also applied in interbank investment and Islamic bonds. In takaful industry, mudarabah contract is used as one of the operational model as well as being applied for the takaful funds.” BNM (2007) Mudarabah is defined in different ways by jurists but relatively the same in term of two parties involved which are the rabb mal and mudarib; and the purpose of the contract is to gain profit even though they don‟t clearly stated it. There is no explicit injuction from the Al-Quran in permitting mudarabah by the jurists have found some verses in the Al-Quran indicating the legality of mudarabah. In one of the verse, Allah says, “Others travelling through land seeking of Allah‟s bounty.” Even though, the verse does not directly address the legality of mudarabah, it is interpreted to mean those who travel for the purpose of trading and seeking permissible income, including those who work with another’s capital in exchange for part of the profits. As for the Sunnah, the legality of mudarabah is divided into two groups of evidence. The first group is mainly the act of the Prophet Muhammad (pbuh) and the second group is mainly from the Prophets sayings or endorsements to mudarabah contracts practiced during his time. There was clear evidence that the Prophet himself worked as mudarib for Khadijah before he was appointed as a Prophet. It also reported in a hadith by the authority of Ibn „Abbas as a tacit approval from the Prophet on mudarabah whereby Ibn „Abbas‟s father imposed
condition whenever he gave his money in a mudarabah that the mudarib will not take his money across the sea, into any valley, or buy any animal with a soft belly, and if the mudarib were to do so, then he must guarantee the capital. The Prophet heard this practise and permitted it. In addition, the Companion practices on mudarabah are also cited as supporting mudarabah. Relying on all such evidence and alike, Muslim jurists has agreed unanimously that mudarabah is permissible. However, diverse of opinions of the jurists are found which happens due to the fact that some jurists believe that mudarabah defies analogy. MUSHARAKAH Musharakah or shirkah can be defined as a form of partnership where two or more persons combine either their capital or labour together, to share the profits, enjoying similar rights and liabilities2. From the very inception of human society, the methods to meet day to day needs have been changing with the change of social, economic, scientific, cultural and political circumstances, especially habits, fashions and the standard of living. These methods regulate the commercial activities and vary from place to place and time to time. The Arab society at the time of the rise of Islam had very simple financing methods and forms of business peculiar to that society. Commercial activities using the concept of musharakah has been adopted by businessman in Arab at time of Holy Prophet. He not only ratified it, but also himself did business on the basis of musharakah3. After Hijra4, the muhajireen5 and the ansar6 were declared by the Prophet to be brothers. Subsequently they joined as partners, in the form of musharakah, muzara and musaqat, in their trade and commerce. The nature of the transaction, in the different forms, is identical. The different nomenclature in Arabic refers to diverse activities such as muzara in agriculture, musaqat in gardening and musharakah in trade. The musharakah of capital and labour is called mudarabah. These four forms were so developed that they became independent institutions and the jurists formed detailed rules about them. There is a consensus of opinion among the jurists of all schools- of thought (including Hanafi, Maleki, Shafei, Hanbali and Shia) that musharakah is a valid and legitimate contract in Islam. The jurists, however differ over its form conditions and other details.
2.
marks)
What additional information would you require from the customer to enable you (5
to improve the customer portfolio? Discuss.
“CRM means recognizing the customer wherever they interact with the Bank i.e. a 360 degree view of the Customer”
The CRM Capabilities Modules: The four components of CRM Capabilities can be summarized as follow: 1. Understand Markets and Customers This is about having the intimate and accurate data and information about our customers. Understanding the customer’s profile, segment, ongoing activities, loyalty and affinity with the bank, percentage of customers who use one or more of the services after using bank’s initial service, etc., are just some aspects of customer intelligence that help drive business strategies, cost effective marketing and service formulation decisions. 2. Develop Offering This module allows us to think of the following when developing banking products and services: In which segment is the Bank performing best? With what Product? Through which channel? Who buys what? At what price? At what profit margin? Profitability by product line and product life cycle; Designing and executing targeted marketing campaigns, e.g. customer acquisition, cross selling, up selling How can leads be cost effectively captured and capitalized as revenue Opportunity for sales forces to close it? 3. Acquire Customer How complaints are captured from all touch points and managed (escalation, tracking and monitoring); 360 degree view, integration of customer information from across the entire organization: Branch/ Call Centre/ Internet/ ATM/ Payment Systems and Credit Checking Bureau Case management – how moments of interaction are captured and logged into the system How service requests from across all touch points are managed and tracked Performance monitoring and Management dashboard What is customer saying about the bank in terms of Satisfaction level at all contact points (such internet, phone-ins, physical branch locations), Speed of service, knowledge of staff 4. Retain Customers Aligning loyalty programs to CRM – structuring loyalty programs to attract and cultivate only the right customers Delivering the right loyalty program for the right segment of customer base
Customer Loyalty Analysis – Tracking behaviors’ & purchasing habits
Therefore, it is imperative for us to have a CRM system which will support Bank
3.
(5 marks)
Are there any further services that you may offer / customize for him? Discuss.
Musharakah al-mutanaqisah is a new invented transaction that consists of a partnership between two parties in a project that has a potential to generate income. In this contract, one of the partners promises to gradually purchase the shares of the other partner. It is immaterial whether the purchase was made using the income earned by the purchasing partner from the said project or income derived from other sources; ii) The basis of the formation of a musharakah mutanaqisah contract: It is a contract that is concluded by two parties, where each of them contributes capital to the partnership, either in the form of cash or kinds (kinds - after valuation has been done). The profit sharing ratio must be agreed upon by both parties, while the losses are borne on a pro rata basis, i.e. in accordance to the shares of each partner; iii) Musharakah mutanaqisah is featured with the existence of a binding promise on only one of the partners, i.e. he will buy the shares of the other partner, on the basis that the selling partner will have the option of whether to sell or not to sell. This is done by concluding contracts of sale upon the purchasing partner buying each part of the selling partner‟s shares (the contracts of sale can be concluded using whatever methods that indicate offer and acceptance); iv) It is permissible for one of the partners to rent the share of the other partner at a certain rental amount for a specified period, while each party is still responsible for the major maintenance (if the musharakah mutanaqisah contract involves the sharing of an asset, e.g. house), in proportion to each party‟s share; v) Musharakah mutanaqisah is permissible, if the general laws of partnership are observed and the following rules are taken into consideration: a) Non-existence of undertaking for either of the partners to purchase the shares of the other partner at cost price, i.e. the price of the shares at inception. This is because doing so will mean that a party is guaranteeing the share of his partner. Conversely, the price of the shares ought to be based on the market price on the day of the sale or based on a price that is agreed upon by both partners, at the time of sale; b) Non-existence of a stipulation for one of the partners to bear the entire insurance or maintenance expenses. The expenses should instead be borne in proportion to each partner‟s shares; c) Profit should be distributed based on the profit sharing ratio. No party is allowed to stipulate a specific amount from the profits or a percentage from the amount of his capital contribution; d) Detailing the contracts and obligations involved in the musharakah mutanaqisah transaction; and e) There should be no stipulation to prevent either of the partners to withdraw his contribution (funding).
4.
marks)
In your opinion which is easier to influence and manage, an adult customer Mr. (5
Michael or a young manager like Mr. Adam? Why?
Mr.Adam is more influencing personality due to the investment psychology. At youth he can take more risk than Mr.Micheal. Moreover Mr.Micheal is an experienced hand.
The assignment should not exceed 10 pages, single spacing, and all answers should be in one document file. For late submissions, marks will be deducted accordingly. Dateline of submission: 28 March 2011
ACADEMIC DISHONESTY Membership in the INCEIF learning community imposes upon the student a variety of commitments, obligations and responsibilities. It is the policy of INCEIF to impose sanctions on students who misrepresent their academic work. These sanctions will be selected by appropriate classroom instructors or other designated persons consistent with the seriousness of the violation and related considerations. Examples of academic dishonesty include but are not limited to: (1) Plagiarism, taking someone else’s intellectual work and presenting it as one’s own (which covers published and unpublished sources). Using another’s term paper as one’s own; handing in a paper purchased from an individual or agency; submitting papers from living group, club or organization files; or using another’s computer program or document are all examples of plagiarism. Standards of attribution and acknowledgment of literary indebtedness are set by each discipline. Faculty members are encouraged to include disciplinary or class-specific definitions in course syllabi. Students should consult with their department or with recognized handbooks in their field if in doubt. (2) Cheating is unacceptable in any form. Examples include consultation of books, library materials or notes during tests without the instructor’s permission; use of crib sheets or hidden notes; intentional observation of another student’s test; receipt of a copy of an exam or questions or answers from an exam to be given or in progress; substitution of another person for the student on an exam or another graded activity; deliberate falsification of lab results; submission of falsified data; alteration of exams or other academic exercises; and collaboration on projects where collaboration is forbidden. (3) Falsification, forgery or alteration of any documents pertaining to assignments and examinations. (4) Students who (cooperate or in other ways promote) participate in promoting cheating or plagiarism by others (or who take credit for the work of others) will also be in violation of this policy. Students participating in any violation of this policy must accept the consequences of their actions. Classroom instructors and/or university review/appeals committees and administrators will assess the sanctions for violation of this policy. The seriousness of the violation will dictate the severity of the sanction imposed.
Course Leader: HAMDAN HJ IDRIS, MBA (Islamic banking & finance) BSc Econs, MBA (Islamic banking & Finance) Certified Professional Trainer (MIM) Teaching fellow/Industry Expert INCEIF
