LEVEL 6 ASSESSMENT SPECIFICATION

Student name: Student ID number:

Programme: Bachelor of Business Administration (Honours) in Islamic Finance

Bachelor of Business Administration (Honours) in Finance

Module: Islamic Capital Markets

Contribution to 60%
Module code: BSC601/ BIF6043
Overall Module
Assessment (%):

Lecturer: A.M. Hafizi Internal Verifier: Zubair Hassan

Assignment Title: Essay on potential usage of Word count (or 3000-3500 words
blockchain in Islamic capital equivalent):
markets

Submission Week 9, 13/11/2019 11.59 p.m. Return date of December 4th 2019
deadline: provisional marks & (within 20 calendar
written feedback: days)
All written assessments, where practical and possible, must be submitted via
Submission
Turnitin unless otherwise instructed by the Lecturer. (Please DO NOT put this
method:
assessment specification into Turnitin or it will match many similarities with other
students’ submissions.)
Alternative submission method (if applicable):
Late submission of the assessment will result in a late penalty mark. Penalties
for late submission: Up to one week late, maximum mark of 40%. Over one week
late, 0%. Only the Extenuating Circumstances Panel may approve a change to
submission dates.

Academic honesty Academic honesty is required. In the main body of your submission you must give
/ referencing: credit to authors on whose research and ideas your work is based. Append to your
submission a reference list that indicates the books, articles, etc. that you have
used, cited or quoted in order to complete this assessment.

Module Learning Outcomes

(from module syllabus)
MLO4 – Demonstrate the understanding of various types of Islamic Capital Market Framework including
features, regulatory and governance.

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 TASK DESCRIPTION
GENERAL POINTS OF INDICATION
Format of ESSAY
• Minimum of 3,000 and maximum of 3,500 words. Word count must be stated at the end of the essay.
Writings exceeding the maximum words assigned, if any, will NOT be read. The word count requirement is strictly on
the essay only, and does NOT include complementary sections such as Cover page, Title page, Abbreviations, Table of
Content, Abstract, Reference and Appendix, whichever is applicable.
• Font Times New Roman 12, Double spacing. The first paragraph need NOT be indented. However, all
proceeding paragraphs should be indented 1.2cm. The body of the text must be Justified throughout the essay.
• Page margins: 2.5cm for top, right and left; 3.0 cm for bottom margin, footer 1.3 cm.
• The page number must be centred to the text, and placed at the bottom of the page. No dashes, periods,
underlining or other marks should appear before, after or under the page number.
• THE ‘ESSAY’ REQUIRED IS A SINGLE WRITING WHICH IS SEPARATED ONLY BY PARAGRAPHS, UNLIKE A
‘REPORT’ WHICH MAY REQUIRE SECTIONS/CHAPTERS NAMED AS INTRODUCTION, CONCLUSION ETC. Students may
add headers to signify the move to the next subtopic discussion, as and when students feel they are required.
However, use of sections/chapters are STRONGLY discouraged here. Students must use their OWN WORDS. Plagiarism
rules shall apply. The approach in discussing the points should be FOCUSED AND RELATED TO THE COURSE i.e.
ISLAMIC CAPITAL MARKETS.
• Additional marks shall be given for bringing in and discussing related concepts, theories and issues from
OTHER scholarly articles(s).

SUBMISSION
• Submission deadline applies for both the soft and hard copies. Penalty for LATE submission applies (refer
Page 1 of this document for further details).
• PENALTY also applies for failure to abide by any submission requirements stated at any point in this document,
including as mentioned below.

Soft copy (TO BE EMAILED TO [email protected]):

• Email to be titled as “ICM assignment submission Sep 2019 semester”.
• ALL the following documents to be ZIPPED prior to being attached:
1. Essay in MS Word format.
2. Five (5) to ten (10) articles referred to in writing the essay, in PDF format.

Hard copy:
• NOT to be comb-binded, but instead to be submitted in a standard 1” ring file. Use 2” (or even 3”) ring file
ONLY if the submission thickness is more than 1”.
• ARRANGED IN THE FOLLOWING ORDER IN THE FILE:
1. the assignment specification (this document);
2. the printed assignments (the essay);
3. TURNITIN REPORT
• Please ensure submission only in single-page printing.

*Coursework Marks Information

This essay carries a weightage of 60% from the total 100% assessment marks for this module – Islamic Capital Markets.
Final examination for this module shall then carry the weightage of the balance 40%.

TASKS

Individual Assignment (60%)

Students are to:

1. Write ONE ESSAY to EVALUATE on the potential usage of blockchain in Islamic capital markets.

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 GUIDANCE FOR STUDENTS IN THE COMPLETION OF
TASKS
NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.

1. Engagement with Literature Skills

Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s)
set; you should make use of scholarly reviews and primary sources, where appropriate (for example, refereed
research articles and/or original materials appropriate to the discipline). You should provide evidence that
you have accessed a wide range of sources, which may be academic, governmental and industrial; these
sources may include academic journal articles, textbooks, current news articles, organisational documents,
and websites. You should consider the credibility of your sources; academic journals are normally highly
credible sources while websites require careful consideration/selection and should be used sparingly. Any
sources you use should be current and up-to-date, mostly published within the last five years or so, though
seminal/important works in the field may be older. You must provide evidence of your research/own reading
throughout your work, using a suitable referencing system, including in-text citations in the main body of your
work and a reference list at the end of your work.

Guidance specific to this assessment: You should show a wide level of reading, a minimum of 20/25 references,
from a variety of sources including textbooks, academic journals and academic based websites. For this assignment it
is perfectly permissible to include industry-focused sources.

2. Knowledge and Understanding Skills

At level 6, you should be able to demonstrate coherent and detailed knowledge and a systematic
understanding of the subject area, at least some of which is informed by the latest research and/or advanced
scholarship within the discipline. You should be aware of the uncertainty, ambiguity and limits of knowledge.
Your work must demonstrate the growing extent of your knowledge and systematic understanding of
concepts and underlying principles associated with the subject area. Knowledge relates to the facts,
information and skills you have acquired through your learning. You demonstrate your understanding by
interpreting the meaning of the facts and information (knowledge). This means that you need to select and
include in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set. You
should be able to explain the theories, concepts, etc. meaningfully to show your understanding. Your
mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding;
ideally each should be complete and detailed, with comprehensive coverage.

Guidance specific to this assessment: Based on your knowledge of the subject, select appropriate techniques,
models and/or theories for use in this assignment. You do not need to explain in depth the models, as this assignment
is weighted more towards analysis and application.

3. Cognitive and Intellectual Skills

You should be able to: critically evaluate evidence, arguments, assumptions, abstract concepts and data
some of which are at the forefront of a discipline (and that may be incomplete) to devise and sustain
arguments, to make judgements and/or solve problems; describe and comment upon particular aspects of
current research, or equivalent advanced scholarship, in the discipline Your work must contain evidence of
logical, analytical thinking, evaluation and synthesis. For example, to examine and break information down
into parts, make inferences, compile, compare and contrast information. This means not just describing
what! But also justifying: Why? How? When? Who? Where? At what cost? At all times, you must provide
justification for your arguments and judgements. Evidence that you have reflected upon the ideas of others
within the subject area is crucial to you providing a reasoned and informed debate within your work.
Furthermore, you should provide evidence that you are able to make sound judgements and convincing
arguments using data and concepts. Sound, valid conclusions are necessary and must be derived from the
content of your work. Where relevant, alternative solutions and recommendations may be proposed.

Guidance specific to this assessment: After you have recommended your propositions for the Islamic capital
market industries, you should consider the strategy that they are using as well as the measures that the organisations
can take to achieve this strategy and the advantages and limitations of this strategy in the current environment. You

Page 3 of 9
should then derive sound conclusions from the content of the work and propose 3/4 relevant/appropriate ways forward
for the organisation based on the findings.

4. Practical Skills
At level 6, you should be able to apply the methods and techniques that you have learned to review,
consolidate, extend and apply your knowledge and understanding, and to initiate and carry out projects. You
will deploy accurately established techniques of analysis and enquiry relevant to the discipline, and apply
them in complex and unpredictable contexts, to devise and sustain arguments and/or to solve problems. You
should be able to frame appropriate questions to achieve a solution - or identify a range of solutions. You
should be able to demonstrate how the subject-related concepts and ideas relate to real world situations
and/or a particular context. How do they work in practice? You will deploy models, methods, techniques,
and/or theories, in that context or circumstances, to assess current situations, perhaps to formulate plans or
solutions to solve problems, or to create artefacts, some of which may be innovative and creative. This is
likely to involve, for instance, the use of real world artefacts, examples and cases, the application of a model
within an organisation and/or benchmarking one theory or organisation against others based on stated
criteria. You should show awareness of the limitations of concepts and theories when applied in particular
contexts.

Guidance specific to this assessment: You should deploy your chosen techniques, models and/or theories, to
the Islamic capital markets industries, to identify which strategy they are using, giving real-life examples to illustrate
the points you make. Where possible you should show awareness of the limitations of the model used when applied to
the Islamic investment banking industries.

5. Transferable Skills for Life and Professional Practice

Your work must provide evidence of the qualities and transferable skills necessary for graduate-level
employment requiring the exercise of initiative and personal responsibility and decision-making in complex
and unpredictable circumstances. This includes demonstrating: the learning ability for professional
development to advance existing skills and acquire new competences of a professional nature that will enable
you to assume significant responsibility within organisations; that you can initiate and complete tasks and
procedures, whether individually and/or collaboratively; that you can use appropriate media to effectively
communicate information, arguments and analysis in a variety of forms to specialist and non-specialist
audiences; fluency of expression; clarity and effectiveness in presentation and organisation. Work should be
coherent and well-structured in presentation and organisation.

Guidance specific to this assessment: You should use a report of a recognised format. It should include an
executive summary, introduction, main findings and conclusions. Recommendations are also required. All writing
should be academic in style, formal, focused, concise and subject specific. It should use a font of Times New Roman
12. All graphs, charts and figures in the main body must be clearly referenced beside or beneath. Where possible they
should not be on separate pages but should be incorporated within the text.

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 STUDENT FEEDBACK FORM
This section details the extent to which the assessment criteria are demonstrated by you, which in turn determines your
mark. The marks available for each category of skill are shown. Lecturers will use the space provided to comment on
the achievement of the task(s), including those areas in which you have performed well and areas that would benefit
from development/improvement.

awarded
available

Marks
Marks
Generic Assessment Criteria

1. Engagement with Literature Skills

. 10

2. Knowledge and Understanding Skills

10

3. Cognitive and Intellectual Skills

35

4. Practical Application Skills

35

5. Transferable Skills for Life and Professional Practice

10

Late Submission Penalties (tick if

Assessment Mark (Assessment marks are subject to ratification at the appropriate)
Exam Board. These comments and marks are to give feedback on module work Up to 1 week late (40% Max) %
and are for guidance only until they are confirmed. ) Over 1 week late (0%)

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GENERIC ASSESSMENT CRITERIA

Level 6
In accordance with the Framework for Higher Education Qualifications, at the end of Level 6 students should have coherent and detailed knowledge and a
systematic understanding of their subject area, at least some of which is informed by the latest research and/or advanced scholarship within the discipline.
They will be able to accurately deploy established techniques of analysis and enquiry within a discipline, using their conceptual understanding to devise and
sustain arguments and/or to solve problems. They should be aware of the uncertainty, ambiguity and limits of knowledge. They should be able to critically
evaluate evidence, arguments, assumptions, abstract concepts and data (that may be incomplete), to make judgements, and to frame appropriate questions
to achieve a solution - or identify a range of solutions. They will apply the methods and techniques that they have learned to review, consolidate, extend and
apply their knowledge and understanding, and to initiate and carry out projects. They will have the ability to manage their own learning, and to make use of
scholarly reviews and primary sources (for example, refereed research articles and/or original materials appropriate to the discipline). They will demonstrate
the qualities and transferable skills necessary for employment requiring: the exercise of initiative and personal responsibility; decision-making in complex and
unpredictable contexts; the learning ability needed to undertake appropriate further training of a professional or equivalent nature.

Level 6 SATISFACTORY GOOD VERY GOOD EXCELLENT EXCEPTIONAL

FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit) (1st / Distinction) (1st / Distinction)
Category 0-29% 30-39% 40-49% 50-59% 60-69% 70-84% 85-100%
Engagement Little or no Poor Engagement Engagement Engagement Engagement Exceptional
with literature evidence of engagement with a limited with an with a wide with an engagement
(including reading and/or with essential range of mostly appropriate range of extensive range with an
reading, reliance on reading. No relevant and range of research- of relevant and extensive range
referencing, inappropriate evidence of credible sources. research- informed credible of relevant and
academic sources. wider reading. Some omissions informed literature, literature, credible
conventions and Views and Reliance on and minor literature, including informed by the literature,
academic findings mostly inappropriate errors. including sources latest research. informed by the
honesty) unsupported and sources, and/or Referencing sources retrieved Consistently latest research.
non- indiscriminate conventions retrieved independently. accurate High-level
authoritative. use of sources. evident though independently. Selection of application of referencing skills
Referencing Heavily reliant not always Some over- relevant and referencing. consistently and
conventions on information applied reliance on texts. credible sources. professionally
used gained through accurately or Referencing may Very good use of applied.
incoherently or class contact. consistently. show minor referencing, with
largely absent. Inconsistent and inaccuracies or no/very few
weak use of inconsistencies. inaccuracies or
referencing. inconsistencies.
Knowledge Major gaps in Gaps in Limited Knowledge is Knowledge is Excellent Exceptionally
and knowledge and knowledge, with knowledge and reasonably reasonably coherent and coherent and
understanding systematic only superficial systematic detailed, extensive detailed detailed
(Coherent and understanding of systematic understanding of accurate with a coherent and knowledge and knowledge and
detailed the subject understanding. the relevant good systematic detailed. systematic systematic
Level 6 SATISFACTORY GOOD VERY GOOD EXCELLENT EXCEPTIONAL
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit) (1st / Distinction) (1st / Distinction)
Category 0-29% 30-39% 40-49% 50-59% 60-69% 70-84% 85-100%
knowledge and matter. Some significant concepts and understanding of Exhibits very understanding of understanding of
systematic Substantial inaccuracies principles within the field of study good the principles the principles
understanding of inaccuracies. No and/or irrelevant the subject area and to some understanding of and theories of and theories of
the subject area, awareness of material. No which to some extent, current the breadth and current research the subject, well-
at least some of
which is informed
knowledge of the awareness of limited extent, is research and depth of and scholarship. informed by
by the latest latest research knowledge of the informed by scholarship. established Clear awareness current research
research and/or and/or advanced latest research current research views, and the of challenges to and scholarship.
advanced scholarship and/or advanced and scholarship. work is, at least established A critical,
scholarship within within the scholarship in part, well- views and the sophisticated
the discipline.) discipline. within the informed by limitations of the and nuanced
discipline. current research knowledge base. awareness of
and scholarship. the ambiguities
and limitations of
knowledge.
Cognitive and Wholly or almost Largely Limited attempt Some critical Sound critical Excellent critical Exceptional
intellectual wholly descriptive work, at critical thinking, thinking, thinking, critical thinking,
skills descriptive work. with superficial thinking, analysis, analysis, analysis, analysis,
(Conceptual and Little or no use of critical analysis, synthesis and synthesis and synthesis and synthesis and
critical thinking, analysis, evaluation. synthesis and evaluation. Can evaluation evaluation. evaluation based
analysis, synthesis or Weak evaluation, analyse new demonstrating Ability to on judiciously
synthesis and evaluation. development of tending towards and/or abstract critical thinking. investigate selected
evaluation of Failure to arguments and description. concepts and Ability to devise contradictory or evidence.
research, develop judgements. Some evidence data without and sustain incomplete Ability to
assumptions,
arguments, Information to support guidance. persuasive information and investigate
abstract concepts
and data (that leading to accepted emerging An emerging arguments, and make strong, contradictory or
may be illogical or invalid uncritically, uses arguments and awareness of to review the persuasive, incomplete
incomplete); logic, judgements. generalised judgements but different stances reliability, validity arguments and information and
argument and Unsubstantiated statements these may be and ability to use and significance sophisticated make strong,
judgement.) generalisations, made with scant underdeveloped evidence (that of evidence (that judgements. persuasive,
made without evidence and or with a little may be may be Some evidence arguments and
use of any unsubstantiated inconsistency / incomplete) to incomplete) to of independent sophisticated,
credible opinions. Ideas mis- support the make mostly thought and nuanced,
evidence. sometimes interpretation. argument. appropriate and ability to ‘see judgements.
illogical and Asserts rather Mostly valid valid beyond the Evidence of
contradictory. than argues a arguments and judgements. question’, independent
case. logical suggesting a thought and
judgements. grasp of the ability to ‘see
Some tendency broader field and beyond the
to assert/state wider concepts. question’,
opinion rather suggesting an
than argue on outstanding
Level 6 SATISFACTORY GOOD VERY GOOD EXCELLENT EXCEPTIONAL
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit) (1st / Distinction) (1st / Distinction)
Category 0-29% 30-39% 40-49% 50-59% 60-69% 70-84% 85-100%
the basis of grasp of the
reason and broader field and
evidence. wider concepts.
Practical skills Limited or no Rudimentary An adequate A good and A very good An advanced Exceptional
(Apply/deploy use of methods, application of awareness and appropriate application of a application of a levels of
accurately materials, tools methods, mostly application of range of range of application and
established tools and/or materials, tools appropriate standard methods, methods, deployment
and techniques; techniques. and/or application of methods, materials, tools materials, tools skills in
initiate and carry Little or no techniques but well-established materials, tools and/or and/or unpredictable,
out projects; appreciation of without methods, and/or techniques. techniques. practical
formulate
the context of consideration materials, tools techniques. Very good The context of contexts,
solutions to solve
problems in the application. and and/or Clear consideration of the application is drawing skilfully
complex and Limited competence. techniques. appreciation of the context of well considered, on the latest
unpredictable understanding of Flawed Basic the context of the application, and insightful. research within
contexts.) the application of appreciation of appreciation of the application. with perceptive Application and the discipline.
theory to the context of the context of Mainly insights. Can deployment Can identify
practice or the application. the application. consistent, identify problems extend beyond complex
making Weak Theoretical accurate and and propose established problems and
appropriate links understanding of knowledge and logical appropriate conventions. propose
between the two. the application of understanding application of solutions in Can identify sophisticated
Very weak theory to applied in theory to complex and complex solutions.
problem-solving practice, with practice, but not practice, making unpredictable problems and Assimilation and
skills in complex only occasional always making appropriate links contexts. propose development of
and evidence of logical links between the two Evidence of excellent cutting edge
unpredictable making between the two. Can identify some innovation solutions. processes and
contexts. appropriate links Can identify problems and and creativity. Innovation and techniques.
between the two. problems and propose mostly creativity
Weak problem- propose basic appropriate evident.
solving skills in solutions in solutions in
complex and complex and complex and
unpredictable unpredictable unpredictable
contexts. contexts without contexts.
fully appreciating
the complexity.
Transferable Communication Communication Can Can Can Can Can
skills for life medium is medium is poorly communicate in communicate communicate communicate communicate
and inappropriate or designed and/or a suitable effectively in a well, confidently professionally with an
professional misapplied. not suitable for medium but with suitable format, and consistently confidently and exceptionally
practice Work is poorly the audience. some room for but may have in a suitable consistently in a high level of
(Exercise of structured, Work is poorly improvement. minor errors. format. suitable format. professionalism.
initiative and disorganised presented in a
Level 6 SATISFACTORY GOOD VERY GOOD EXCELLENT EXCEPTIONAL
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit) (1st / Distinction) (1st / Distinction)
Category 0-29% 30-39% 40-49% 50-59% 60-69% 70-84% 85-100%
personal and/or disjointed Mostly ordered Mostly coherent, Work is Work is Work is
responsibility; confusingly manner. It is presentation and organised work, coherent, fluent, coherent, very exceptionally
professional expressed. Very loosely, and at structure in in a suitable well-structured fluent and is coherent, very
development;
weak use of times which relevant structure and is and organised. presented fluent and is
initiate and
complete tasks
language and/or incoherently, ideas / concepts for the most part Can work very professionally. presented
and procedures: very structured, with are reasonably clearly well Can work professionally.
individually and/or inappropriate information and expressed. Work expressed. Can autonomously autonomously Can work
collaboratively; style. Little or no ideas often may lack work effectively and/or as part of with initiative. exceptionally
use appropriate evidence of poorly coherence in independently a team, with very Where relevant well and
media to autonomy (or expressed. places. Can and/or as part of good can work professionally
communicate collaboration, Weak use of work as part of a a team, with contribution to professionally within a team,
effectively; where relevant) language and/or team, but with clear group activities. within a team, showing
fluency of
in the completion inappropriate limited contribution to Demonstrates showing advanced
expression; clarity
and effectiveness of tasks. Little or style. Weak involvement in group activities. very good leadership skills leadership skills.
in presentation no evidence of independent group activities. Demonstrates graduate as appropriate, Demonstrates
and organisation.) the skills initiative (or Demonstrates the skills employment managing exceptional
required in collaboration, if the basic skills required in skills, with just conflict and graduate
graduate relevant). required in graduate occasional minor meeting employment
employment. Limited evidence graduate employment, weakness. obligations. skills and an
of the skills employment, with some areas Demonstrates appetite for
required in with some areas of strength and excellent further
graduate of minor some of minor graduate development.
employment. weakness. weakness. employment
skills and an
appetite for
further
development.