Islamic Accounting & Banking

GroupAssignment

WhileanIslamic bank is one based entirely on and managed with, Islamic principles, an Islamic window refers to the services provided by a conventional bank but based on Islamic principles. For example, in Oman, there are two Islamic banks, Bank Nizwa and Al Izz Islamic Bank. Six of the seven commercial banks in the country also offer Islamic banking services through dedicated windows or sections in the conventional bank.These Islamic Banks and windows use various different types of sharia compliant contracts to structure banking products.

You are required to;

Select any two local Islamic Banks and/or windows in Oman that provide three Islamic (sharia compliant) products. Analyze how their products differ from the conventional banks based on the contract/features. The report should compare and contrast the similarities and differences.

(15 Marks)

1. Provide your observations how the shariah complaint products (identified above in 1) are different from other Islamic banks globally (choose any country to make the comparison. Select two international Islamic banks. (5 Marks)

1. Provide examples of successful sukuk issuance and their impact on specific sectors in any given economy. (05 Marks)

The report should be structured with appropriate references and begin with an introduction and end with a conclusion.

(A report of 3000 words)

(5 Marks for presentation)

END OF ASSIGNMENT

COLLEGE OF BANKING AND FINANCIAL STUDIES
DEPARTMENT OF UNDERGRADUATE PROGRAMME
B.Sc. in Accounting, Auditing and Finance
GROUP ASSIGNMENT BRIEF
Weightage: 30%
Student Name &
St No.
_____________________________________________
Semester
Semester 04
Assignment Title
Practice of Islamic Banking in Oman
Module
Submission
Date:
Islamic Accounting & Banking
UG 072
Release : week 6 (29th October 23)
Formative Submission: Week 8 (16h
November 2023)
Summative Submission: Week 11 (7th
December 23)
Presentation : Week 14
Year- 2023
Assessor:
Internal
Verifier
Fall 2023
Dr.Yasmeen Ali /
Dr. Nagib Omar
Mr.Feros Khan
Required Work, Format and Grading
You must submit the following by the assignment due date:
▪ Completed answers to each task, making sure that you fully address each of the
outcome criteria.
▪ Answer all questions separately.
▪ Assignments without TURNITIN report will not be accepted.
Resources:
You need to demonstrate a confident application of the theories to the assignment task. The
theoretical underpinning of your observations and deliberations should also demonstrate a good
understanding of the subject by the way that your analysis is structured.
You can access the Internet to research about the topic. You should demonstrate good academic
practice by the appropriate use of academic texts and journals that are properly referenced.
1
Guidelines and further information about assignment:
Assignment must be submitted with the “Turnitin” report. If the report generated indicates a
similarity index percentage of 20% or more, a review of your assignment is necessary to ensure
the same is reduced to less than 20%.
Student declaration:
I certify that the work contained in this assignment was researched and prepared by
me:
Signature: ___________________________
Date: ___________________
Grades given are subjected to Internal Verification. No grades are Final
The user ID and Password for submitting the soft copy of the report through TURNITIN
is as follows:
Class ID: 41291832
Enrolment Password: IABFALL2023
Submission time and date
You should submit the assignment by the time and date mentioned otherwise a ‘NA’ will
be awarded. Fill in the form cover and staple it with your assignment. Make sure that all
the relevant details are complete. Assignments must be submitted by the due date. You
may include diagrams, figures etc without word penalty.
Plagiarism Writing
Summary
1. Plagiarism occurs if you use somebody else’s work in an assignment or exam
answer, but fail to state where you got the material from. You need to be also very
careful about the amount of words you are using from somebody else’s work.
2. It can happen in any type of assessment where you are given the questions or
tasks in advance.
3. If another student uses your work in his/her answer(s), both you and he/she will
be punished when caught.
4. Punishments for committing plagiarism can be very severe.
2
Details
Plagiarism is a form of cheating in which students use the work of others and present it
as their own. It may include all or any one of the following –
1. Copy extensively from the work of others (from sources such as books, magazines,
journal, web-sites etc) and submit the work as your own.
2. Copy another students’ work and submit it for assessment under your own name.
3. Allow another student to copy your work and then submit it for assessment under
their own name.
What happens if you get caught?
The examining body of CBFS may punish offending students in any manner that they
deem fit. Typical punishments may range from reduction in grades, making students resit modules and even failing students on a module or an entire award. The college
considers this form of cheating as a serious offence. Therefore be forewarned!
______________________________________________________________________
Group Assignment
3
While an Islamic bank is one based entirely on and managed with, Islamic principles, an
Islamic window refers to the services provided by a conventional bank but based on Islamic
principles. For example, in Oman, there are two Islamic banks, Bank Nizwa and Al Izz
Islamic Bank. Six of the seven commercial banks in the country also offer Islamic banking
services through dedicated windows or sections in the conventional bank.
These Islamic Banks and windows use various different types of sharia compliant contracts
to structure banking products.
You are required to;
1. Select any two local Islamic Banks and/or windows in Oman that provide three
Islamic (sharia compliant) products. Analyze how their products differ from the
conventional banks based on the contract/features. The report should compare and
contrast the similarities and differences.
(15 Marks)
2. Provide your observations how the shariah complaint products (identified above in
1) are different from other Islamic banks globally (choose any country to make the
comparison. Select two international Islamic banks.
(5 Marks)
3. Provide examples of successful sukuk issuance and their impact on specific sectors
in any given economy.
(05 Marks)
The report should be structured with appropriate references and begin with an introduction
and end with a conclusion.
(A report of 3000 words)
(5 Marks for presentation)
END OF ASSIGNMENT
4
College of Banking and Financial Studies
UG Studies Program
Standard Valued Rubrics for Assignment
Level 6
90-100
A
Shows wellcoordinated
understandin
g of subject
85-89
ASound
understanding
of subject
matter
74-84
B
Major facts
are
understood
56-73
C
Shows
understandin
g of basic
issues/theory
55-55
D
Minimal
understanding
of basic
issues/topic
Analysis 30%
Touches
upon all
relevant
issues/theory
. Concise
analysis
Reasoned
argument
and
sequencing
Shows
evidence of
understandin
g of
concepts.
Coverage of
obvious
ideas.
Fails to
identify subtle
issues/theory.
Captures
obvious ideas.
Research 10%
Excellent
referencing
and reading
in all areas
Appropriate
referencing
Adequate
referencing
and reading.
Weak reading
and
referencing
Poor
referencing.
Shows lack of
reading/refere
nces out of
date
Relevance 10%
All material
used is of
relevance
Detailed
coverage of
basic
concepts/theo
ry.
Reasonable
coverage of
subtle
issues/theory
Use of up-todate
resources.
Well informed
and generally
accurate
information
provided.
Material used
is relevant
Some
material
repetitive
Excellent
conclusion.
Brings
together all
concepts and
adds an
original
perspective
Some
repetitive
matter.
Irrelevant
Weak
conclusion
and content.
Satisfactory
application of
ideas/theory
No relevance
to subject
matter
Conclusion
10%
Discussion
shows
relationship
to theory
Methods
incorporate
modification
s used
Marks/Grades
Criterion
Knowledge
40%
Intelligent
conclusion.
Good
application of
knowledge
Conclusion
in place but
key points
missing.
Reasonable
application
of knowledge
0-49
F
No
understanding
of the
topic/subject
area
No or minimal
understanding
of the key
theories/topic
Poor
conclusion.
Poor
knowledge
application.
5
College of Banking and Financial Studies
UG Studies Program
Standard Valued Rubrics for Presentation
Levels 5, 6, 7 and 8
Delivery
25%
90-100
A
Shows wellcoordinated
delivery with
confidence
85-89
ASound
coordinated
delivery with
confidence
74-84
B
Some
evidence of
coordinated
delivery with
confidence
56-73
C
Basic
coordinated
delivery with
average
confidence
Methods
25%
Creative
quality of
PPT slides
Sound quality
of PPT slides
Shows basic
quality of
PPT slides
Structure
25%
Shows wellcoordinated
logical
structure &
flow
Shows wellcoordinated
evidence of
Sound logical
structure &
flow
Some
evidence of
quality of
PPT slides
Evidence of
logical
structure &
flow
Shows basic
logical
structure &
flow
0-49
F
No evidence
of
coordinated
delivery with
low
confidence
Minimal
No evidence
evidence of
of quality of
quality of PPT PPT slides
slides
Minimal
No evidence
logical
of logical
structure &
structure &
flow
flow
Some
evidence of
coherent,
Shows basic
coherent,
insightful &
Minimal
evidence of
coherent,
Marks/Grades
Criterion
Content
25%
Sound
evidence of
coherent,
55-55
D
Minimal
coordinated
delivery with
limited
confidence
No evidence
of coherent,
insightful &
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coherent,
insightful &
explicitly
relevant
answer to the
question
insightful &
explicitly
relevant
answer to the
question
insightful &
explicitly
relevant
answer to the
question
explicitly
relevant
answer to the
question
insightful &
explicitly
relevant
answer to the
question
explicitly
relevant
answer to the
question
7