student kit sept 2

Message

Prof Dato’ Dr Azmi Omar
President & Chief Executive O icer

Welcome to INCEIF!
We are happy to have you here on campus to pursue your
interest in the area of Islamic finance and making a di erence.
Your journey here with INCEIF will be an exciting one as you can
expect to get first-hand knowledge from CEOs, regulators and
o icials from standard setting bodies who often share their
experiences with all students.
At INCEIF, we look forward to being the reference point and a
thought leader. We will continue to create more forward-looking
syllabi at the same time giving emphasis on research with direct
and practical application to the industry. As we strive towards
that goal, having you on-board is important to us as your
contribution can make an impact to the industry at large.

Do you know, since 2015, INCEIF’s research has been ranked
1st in Malaysia amongst the higher education institutions in
the Research Papers in Economics (RePec) rankings. We
are also the only institution to have the research of five
professors recognised by RePec, among the top 30
academics in Malaysia. We are ranked 40th in Asia
as a university. Within the Financial Economics &
Finance Department category, defined by REPEC,
we are ranked 30th in the world

547 49 11%

Research and Books of Global IF
Publications Research

No.1 No.47 No.32

RePec Ranking in RePec Ranking in RePec Ranking in globally
Malaysia (as of Asia (as of under Financial
October 2017)
October 2017) Economics & Finance
Department

1,585

graduates globally*

1,798

registered students

72 9

countries convocations

Today there are 1,585 agents for change in the world from INCEIF. Some
of them are already making meaningful contributions to the
advancement of Islamic nance at all levels be it product development,
policy framework and implementation; regulation and enforcement;
and innovation. You will soon be joining them when you reach the end
of your journey here at INCEIF.
You are part of our missions to build a lasting legacy for INCEIF. The
Faculty with the support of the administrative sta , and our partners
from the industry and around the world, will continue to ensure that we
give our best to our students. On behalf of the INCEIF family, we wish
you everything that you so richly deserve in the years ahead - it will be
an honour and a privilege to see you progress towards success!

Philosophy & Brand

INCEIF was set up in 2005 by Bank Negara Malaysia
(the Central Bank of Malaysia). It is one of many
initiatives undertaken by Malaysia to develop and nurture
talents and experts under the MIFC (Malaysia
International Islamic Finance Centre).
The Chairman of INCEIF is the Governor of Bank Negara
Malaysia, Dato’ Muhammad Ibrahim. INCEIF is governed
by a Governing Council which is chaired by a Director
and comprises representatives from the financial industry,
regulators and members of international repute. The
Senate, i.e. the Professional Development Panel is also
chaired by a Director and comprises of CEOs from
Islamic banks and Takaful companies, regulators and
representatives from the financial industry.
INCEIF o ers three postgraduate programmes in Islamic
finance, namely Masters in Islamic Finance Practice
(MIFP), Master of Science in Islamic Finance (MSc) and
PhD in Islamic Finance.
To complement its mission to produce world-class talent
for the global Islamic finance industry, INCEIF, as a
knowledge leader in Islamic finance, o ers
industry-focussed executive education that includes
customised executive programmes. INCEIF’s research
unit carries out academic and commercial research
which provides trend analysis, economic growth
indicators and specific cross border business strategy.

Vision & Mission

To be the knowledge leader in Islamic finance

Key Result Areas (KRA)
& Mission

Academic Excellence

To ensure INCEIF contributes to the creation and
management of knowledge in Islamic Finance by
providing excellence in teaching, research and
thought leadership.

Reputation

To create and maintain a reputation of INCEIF as the
leading knowledge authority on Islamic Finance and
the institution of choice for all our Stakeholders.

Financial Sustainability

To ensure resources of INCEIF are developed and
managed in an e ective manner.

Brand

Since the launch of the INCEIF brand in 2006 its
breadth and stature have grown steadily. On a daily
basis there is an ever increasing number of sta ,
students and industry practitioners who interact with the
brand.
INCEIF is the acronym for International Centre for
Education in Islamic Finance. INCEIF should be referred
to by its acronym. The logo is often displayed with the
tagline, The Global University of Islamic Finance.

Corporate Identity

The blue represents the ‘ocean of knowledge’ that can
be found within the university. It is also a colour closely
associated with trust which is an important element in
Islamic finance. The green ‘I’ represents Islam.
The corporate identity is represented through the two
thin horizontal blue lines with the logo being positioned
either centrally or at the bottom right.

IQRA

Integrity

To be principled in being consistently reliable and
trustworthy. To uphold one’s promise, commitment and
to not violate the trust and rights of others in the course
of one’s actions.

Quality

Quality driven in every aspects of academic and
business operations. Committed to continous
improvement through best practices.

Reciprocity

To treat others as one would treat oneself. Having
mutual respect.

Accountability

To account for one’s activities, accept responsibility for
them and to be answerable for the results in s truthful
manner.

Chancellor & Pro-Chancellor

Tan Sri Dato’ Sri Dr. Zeti Akhtar Abd Aziz Dr. Rozali Mohamed Ali
Chancellor Pro-Chancellor

Board of Directors

Datuk Muhammad bin Ibrahim Mr. Abdul Rasheed Ghaffour
Chairman Director
Governor, Bank Negara Malaysia

University Senate

Mr. Abdul Rasheed Ghaffour Dato Dr. Nik Ramlah Mr. Jalalullail Othman
Chairman, Deputy Governor Nik Mahmood Partner, Shook Lin & Bok
Bank Negara Malaysia Advocates & Solicitors

Mr. Syed Abdull Aziz Jailani Dato’ Noorazman Abdul Aziz Dato’ Muzaffar Hisham
Syed Kechik Executive Director, Group Head of Global Banking
Director/Chief Executive O icer InvestmentsKhazanah Nasional Malayan Banking Berhad
OCBC Al Amin Bank Berhad Berhad

Datuk Johan Idris Prof. Dato’ Dr. Azmi Omar
Managing Partner President & Chief Executive O icer,
KPMG Malaysia INCEIF

Prof. Dr. Mansor Hj. Ibrahim Assoc. Prof. Dr. Baharom Abdul
Deputy President Academic Hamid
Dean, School of Graduate and Director, Research Management
Professional Studies Centre
INCEIF INCEIF

Senior Management

Prof. Dato’ Dr. Azmi Omar Prof. Dr. Mansor Hj. Ibrahim
President & Chief Executive O icer, Deputy President Academic
INCEIF Dean, School of Graduate and
Professional Studies
INCEIF

Management Committee

Prof. Dato’ Dr. Azmi Omar Prof. Dr. Mansor Hj. Ibrahim
President & Chief Executive O icer, Deputy President Academic
INCEIF Dean, School of Graduate and
Professional Studies
INCEIF

Assoc. Prof. Dr. Baharom Mr. Sivanesan Daybalan
Abdul Hamid Chief Finance O icer
Director, Research INCEIF/Bank Negara Malaysia
Management Centre
INCEIF







Message

Prof. Dr. Mansor Hj. Ibrahim
Deputy President Academic
Dean, School of Graduate and Professional Studies
Assalamua’laikum and a warm welcome to all students.
INCEIF sets its vision to be the Knowledge Leader in Islamic
Finance, which is supported by its three (3) mission’s key result
areas – Academic Excellence, Reputation and Financial Sus-
tainability. We are very pleased and honoured to have you on
this journey, to be the leader in Islamic finance knowledge with
impacts not only to the academia but also to the industry.
At INCEIF, we commit to deliver our services with integrity and of
high quality and we take accountability of what we do as
encapsulated in in our core values – I.Q.R.A. The continuous
improvements that we make, the most recent of which are the
implementation of action-based learning, intensification of
applied research with direct impacts on the industry, and
enhancing academic quality, are manifestation of our commit-
ments to our vision, mission and core values.

We hope that your education journey will be rewarding, not
only in terms of knowledge and career but also in terms of
understanding your philosophy of life, which is normally
framed in terms of your roles in the betterment of society
of Islamic finance. Your “interest” in Islamic finance
would be a strong propeller for you to progress
through. But your “purpose” would make your drive
to excel much stronger. In between, you need
“practice” and “hope”. Together, with the shared
“purpose” of Islamic finance, we can make our
world a better place.
“Discovery is driven by imagination, from a
person who is willing to talk his mind
alone in silence in search of new
ideas…” The life ahead is challenging
and there is no way for us to rise to
success without struggle and sacri-
fice. Hard work is a key. Persever-
ance is an ingredient. Humility is
a foundation. Submission (to
the Almighty) is the pre-req-
uisite. And Thankful (what-
ever the outcome is) is
always the final word”



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FMACEMULBTEYRS



Deputy President Academic

Prof. Dr. Mansor Hj. Ibrahim
Dean, School of Graduate and Professional Studies

Email: [email protected]
Phone: +603 7651 4197
Qualification

Ph.D.in Economics, Washington University in St. Louis, Missouri, USA. (1996)
Area of Specialization

Macro/Monetary Economics

Professors Prof. Dr. Shamsher Mohamad
Ramadili Mohd
Prof. Dr. Syed Abdul Hamid Aljunid Director, BNP-Paribas-INCEIF Centre
Email: [email protected] for Islamic Asset and Wealth
Phone: +603 7651 4180 Management
Qualification Email: [email protected]
PhD in Agricultural Economics, University of Phone: +603 7651 4000
Wisconsin, USA (1980) Qualification
Area of Specialization Ph.D.in Finance, University of Glasgow,
Economic Thought, Ethics and Economics, Scotland, U.K. (1990)
Business Ethics, and Corporate Area of Specialization
Governance Accounting and Finance

Prof. Dr. Saiful Azhar Rosly Prof. Dr. Abul Mansur
Email: [email protected] Mohammed Masih
Phone: +603 7651 4020 Email: [email protected]
Qualification Phone: +603 7651 4199
PhD in Economics, Universiti Qualification
Kebangsaan Malaysia. (1994) Ph.D.in Applied Financial
Area of Specialization Econometrics, University of Leeds
Islamic Economics, Islamic Banking, U.K. (1974)
Finance and Investment Area of Specialization
Finance and Econometrics
Prof. Dr. Zulkarnain Muhammad Sori
Deputy Director, BNP-Paribas-INCEIF Emeritus Prof. Datuk Dr.
Centre for Islamic Asset and Wealth Mohamed Ariff
Management Email: ari @inceif.org
Email: [email protected] Phone: +603 7651 4024
Phone: +603 7651 4173 Qualification
Qualification Ph.D.in Econometrics, Lancaster
Ph.D. in Audit & Corporate Governance, University (1970)
Cardi University, UK (2005) Area of Specialization
Area of Specialization Economic and Governance
Accounting, Auditing, Corporate
Governance, Entrepreneurship, Finance & Prof. Dr. Obiyathulla Ismath Bacha
Takaful Email: [email protected]
Phone: +603 7651 4188
Prof. Dr Belal Ehsan Baaquie Qualification
Email: [email protected] Doctor of Business Administration
Phone: +603 7651 4172 (specialization in Finance) Boston
Qualification University, USA. (1993)
Ph.D. in Theoretical Physics, Area of Specialization
Cornell University (1976) Finance and Accounting
Area of Specialization
Quantum Mathematic Prof. Dr. Zainal Azam Abdul Rahman
Email: [email protected]
Phone: +603 7651 4181
Qualification
Ph.D. in Islamic Studies (Islamic Law),
Selly Oaks Colleges, University of
Birmingham, UK (1997)
Area of Specialization
Islamic law of contract

Associate Professors Assoc. Prof. Dr. Magda Ismail
Abdel Mohsin
Assoc. Prof. Dr. Baharom Abdul Hamid Email: [email protected]
Director, Research Management Centre Phone: +603 7651 4029
Email: [email protected] Qualification
Phone: +603 7651 4189 Ph.D.in Islamic Economic-Islamic
Qualification Civilisation, International Islamic
Ph.D.in Economics, Universiti Putra Malaysia University of Malaysia (IIUM), Malaysia.
(UPM), Malaysia. (2012) (2003)
Area of Specialization Area of Specialization
Applied Macroeconomics, with strong interest Finance and Econometrics
in Economics of Crime, Natural Disaster and
Military Expenditure Assoc. Prof. Dr. Muhammad Yusuf
Saleem
Assoc. Prof. Dr. Mohamed Eskandar Email: [email protected]
Shah Mohd. Rasid Phone: +603 7651 4161
Associate Dean, School of Graduate Qualification
& Professional Studies (SGPS) Ph.D.in Law, International Islamic
Email: [email protected] University of Malaysia (IIUM), Malaysia.
Phone: +603 7651 4038 (2003)
Qualification Area of Specialization
Ph.D.in Finance, University of Nottingham, Islamic Transactions (Muamalat), Islamic
U.K (2012) Jurisprudence (Usul al-Fiqh), Islamic Law
Area of Specialization of Inheritance (Faraid), and Waqf and its
Asset Pricing, Portfolio Theory, Capital Management.

Assoc. Prof. Dr. Shaikh Hamzah Assoc. Prof. Dr. Aishath Muneeza
Abdul Razak Email: [email protected]
Email: [email protected] Phone: +603 7651 4156
Phone: +603 7651 4012 Qualification
Qualification Ph.D.in Law in International Islamic
Doctor of Business Administration, University Malaysia. (2013)
Universiti Sains Malaysia (USM), Area of Specialization
Malaysia (2006) Islamic Banking Law
Area of Specialization
Takaful, Wealth Planning and Asst. Prof. Dr. Adam Ng
Management Deputy Director, Research
Management Centre
Assistant Professors Email: [email protected]
Phone: +603 7651 4182
Asst. Prof. Dr. Ziyaad Mahomed Qualification
Associate Dean/Director, Executive Ph.D.in Islamic Finance, International
Education & E-Learning Centre for Education in Islamic Finance
Email: [email protected] (2014)
Phone: +603 7651 4183 Area of Specialization
Qualification Sustainability, Social Capital,
Ph.D in Islamic Finance, International Centre Entrepreneurial Finance
for Education in Islamic Finance (INCEIF),
Malaysia (2016)

Asst. Prof. Dr. Ginanjar Dewandaru
Email: [email protected]
Phone: +603 7651 4159
Qualification
Ph.D. Centre for Education in Islamic
Finance (INCEIF), Malaysia, Portfolio
Strategies
Area of Specialization
Accounting and Finance

Senior Teaching Fellow Abd. Rashid Abd Kadir
Professional Studies Student Advisor
Ezamshah Ismail Email: [email protected]
Email: [email protected] Phone: +603 7651 4194
Phone: +603 7651 4192
Qualification Qualification
LLM in Business Law, International Islamic Master of Business Administration,
University Malaysia (2008) Universiti Kebangsaan Malaysia,
Area of Specialization Malaysia (2001)
Takaful and Risk Management
Area of Specialization
Teaching Fellows Economics

Zainal Abidin Mohd Tahir
Deputy Dean,
School of Professional Studies
Email: [email protected]
Phone: +603 7651 4195
Qualification
Master of Business Administration, International
Islamic University Malaysia, Malaysia (2002)
Area of Specialization
Islamic Banking & Finance

Adjunct Professor

Prof. Dr. Paresh Kumar Narayan
Email: [email protected]
Phone: +603 7651 4000 (General Line)
Qualification
Ph.D. in Economics and Econometrics, Monash
University (2004)
Area of Specialization
Financial Econometrics and Applied Finance









School of Graduate and Professional Studies

Assoc. Prof. Dr. Mohamed
Eskandar Shah Mohd Rasid
Associate Dean, School of Graduate

and Professional Studies
Tel: +603 7651 4038

PhD IF Wan Halina Wan Mustapha Lili Marina Husin
Manager Executive

Tel: +603 7651 4092 Tel: +603 7651 4198
Email: [email protected] Email: [email protected]

MSc IF MIFP

Nafsiatul Akmal Khairuddin Muhammad Amer Musle Mustaffa Adzriana Abd Aziz
Programme Executive Programme Executive Senior Programme Executive
Tel: +603 7651 4167 Tel: +603 7651 4127
Email: [email protected] Tel: +603 7651 4015
Email: [email protected] Email: [email protected]











Academic Regulation

Contents Page
2
1. Definition of terms 3
2. Scope 3
3. Masters in Islamic Finance Practice (MIFP) Programme Structure 3
4. Mode of Study 3
5. Admission Criteria
6. Application for Admission 4

6.1 Documentation Requirement 7
6.2 Processing Fee 7
7
7. Registration
7.1 Registration For Papers and Examination 7
7.2 Contact Classes of 20 hours For Online Students 8
7.3 Online Classes 8
7.4 Class Attendance 8
7.5 Full Time to Online Conversion or Vice Versa 8
7.6 Dress Code 8
7.7 Other Study Options
7.8 Examination & Deferment Policy

8. Grading of MIFP

9. Credit Transfers
10. Examination Results

10.1 Result Notification

10.2 Certificate of Completion

10.3 Withholding of All Examination Results

10.4 Appeal Against Examination Result

10.5 Examination Misconduct
10.6 Other misconducts
11. Use of Candidates’ Works by INCEIF
12. Grievance Procedure
13. Graduation
14 The Right to Make Decisions
15 Disclaimer
16. Effective Date of the Regulations

APPENDICES : MIFP PROGRAMME PAPERS
APPENDIX 1: CREDIT TRANSFER & EXEMPTION POLICY
APPENDIX 2: INCEIF STUDENT DISCIPLINARY POLICY
APPENDIX 3: DECLARATION OF COPYRIGHT AND AUTHORISATION TO USE
APPENDIX 4: ACADEMIC PROGRESSION AND GRADUATION POLICY
APPENDIX 5:

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1. DEFINITION OF TERMS

Candidate A person who is registered for the MIFP Programme.

Coursework Includes project papers, assignments, case studies, essays and simulation.

CP Collaborative Partners.

INCEIF International Centre for Education in Islamic Finance.

Misconduct Unethical and unprofessional behavior that includes among others
dishonesty, deceit, cheating, plagiarism etc.

Papers The courses offered under the MIFP Programme.

Programme Masters in Islamic Finance Practice.

Regulations Rules governing the MIFP Programme.

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2. Scope

These regulations apply to all candidates registered for the Masters in Islamic Finance Practice
(MIFP) Programme offered by the International Centre for Education in Islamic Finance (INCEIF).

Purpose

The purpose of this document is to lay down the rules and regulations governing the MIFP
Programme.

3. Masters in Islamic Finance Practice (MIFP) - Programme Structure

The MIFP Programme consists of Core and Elective papers. Candidates must pass all 14 Core
Papers and 1 Elective Paper in order to complete the Programme. For intake January 2017
onwards, candidates must pass all 13 Core Papers, 1 Elective Paper and a Practice Paper in order
to complete the Programme.

The list of Core and Elective Papers are as given in Appendix 1.

4. Mode of study
The Program will be offered in 2 modes:

Face to Face: where candidates follow full contact classes of 42 hours per semester for each
paper. For full time study, candidates must graduate in a minimum period of 1
year and maximum period of 2 years. For Part Time study, candidates must
graduate in a minimum period of 1 ½ years and maximum 4 years.

Online: where candidates study by themselves and may supplement their study by
contact classes (tutorials, pre exam seminars, webinars, podcasts and other
online instruction) and sit for the final examinations in common with other
candidates.
For full time study, candidates must graduate in a minimum period of 1 year
and maximum period of 2 years. For Part Time study, candidates must
graduate in a minimum period of 3 years and maximum 6 years.

5. Admission Criteria

i. A Bachelor’s degree or an equivalent qualification or a professional qualification from
institutions recognized by INCEIF or the Government of Malaysia with a minimum CGPA
of 2.50; or

ii. Sijil Tinggi Pelajaran Malaysia (STPM) OR EQUIVALENT (such as A LEVEL, matriculation,
etc) who is at least 35 years old and have at least five (5) years of relevant working
experience;

iii. Candidates with Diploma from recognized institutions by INCEIF who is below 35 years
old may apply by producing the Accreditation of Prior Experiential Learning (APEL)
certificate from Malaysian Qualification Agency (MQA).

For any of the above admission criteria, candidates must produce evidence of his competency

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in English either in the test of English as Foreign Language (TOEFL) score of 550 or International
English Language Testing System (IELTS) level 6 or Malaysian University English Test (MUET)
Band 5. Exceptions from English Language competency can be given to those whose medium
of study at entry level is ENGLISH.

6. Application for Admission

Application for admission can be made online at www.inceif.org at any time during the year.

6.1 Documentation Requirement

Application for admission must be supported by certified documentary evidence of the
following:
i. Academic and / or professional qualifications;
ii. Personal identification; and
iii. Documentary evidence of sponsorship for sponsored candidates (if applicable).

6.2 Processing Fee

All applications for admissions must be accompanied by a non-refundable processing fee. This
can be paid by means of a Bank Demand Draft payable in Kuala Lumpur, by credit card or other
electronic means.

INCEIF will issue an offer letter to successful applicants. After which, the applicant becomes a
candidate for the MIFP programme.

7. Registration

7.1 Registration for Papers and Examination

Candidates may proceed to register online for the MIFP Papers and pay the necessary
registration and examination fees.

Full Time candidates must register for a maximum of eighteen (18) credit hours and minimum
of twelve (12) credit hours in long semester, and for short semester maximum nine (9) credit
hours and minimum six (6) credit hours.
They may apply to the Dean of Professional Studies, should they wish to take time off during the
program. The decision to grant them time off will be considered on a case to case basis.

For Part Time candidates, they must register for a maximum of nine (9) credit hours and
minimum of six (6) credit hours in the long semester and a maximum of six (6) credit hours and
a minimum of three (3) credit hours in the short semester. Dean of School of Professional Studies
can allow on case to case basis exemption to the maximum, minimum rule above.

However, the registration of papers is subject to the minimum and maximum period to graduate
applicable to Full Time and Part Time candidates, per Clause 4.

INCEIF reserves the right to terminate the registration of any candidate who is found to have
omitted or falsified relevant facts or information in connection with the application for

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admission. INCEIF also reserves the right not to offer any courses for a particular semester.

7.2 Contact Classess of 20 hours for Online students

Contact Classes of 20 hours for Papers offered are optional for registered candidates.
Candidates opting to attend the contact classes would be charged fees, and would only be
allowed to attend the classes upon full payment of the fees.
Classes may also be conducted by other collaboration partners approved by INCEIF.

7.3 INCEIF may conduct online classes such as webinars, podcasts or video conferencing, which
are optional to the candidates for which separate fees will be charged.

7.4 Class Attendance (for Face to Face students only)

Face To Face MIFP candidates are required to maintain 80% attendance for each Paper registered
to be eligible to sit for final examination.

7.5 Face to Face to Online Conversion or Vice Versa and Full Time to Part Time Conversion or Vice
Versa

Face to Face candidates may opt to pursue the Programme on Online basis or vice versa, and
Full Time Candidates may opt to convert to Part Time mode or Vice Versa. The conversion is
subject to the minimum Paper registration requirements as per Clause 7.1.

7.6 Dress Code

All MIFP candidates must be properly dressed in office attire while in INCEIF or its collaboration
partner premises.

7.7 Other Study Options

INCEIF will send invitations to registered candidates to attend other study options upon
availability of such options. An attendance fee will be charged to the candidates on per session
basis.

7.8 Examination, Deferment and Refund Policy

Registration for examination fees must be received by INCEIF before the closing date which is
one month after the commencement of the semester.

7.8.1 Deferment of Examination

Candidates who are unable to sit for the examination on the following reasons must furnish
documents to support the application to defer. The following are very exceptional cases
which merits deferment:

a) Medical grounds with supporting documents;
b) Unexpected hospitalization due to critical illness/disease or injury due to personal

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accident;
c) Complications due to pregnancy that may occur at any stage of the pregnancy and

required the candidates to be hospitalized; or
d) Death of immediate family members or close members or close relatives during or

before examination date.

Candidates who are unable to sit for the examination with other valid reasons must apply for
the Dean of Programme’s approval in writing within 21days prior to the Final Examination
week.

In case deferment is approved for medical reason, the registration fee, examination fee and
the marks obtained for assignments can be carried forward to the next semester only. For other
valid reason, the registration fee, examination fee and the marks obtained for assignments can
only be carried forward subject to the Dean’s approval.

Candidates who fail to sit for the examination within one year of registration without giving
any notification with valid reasons to INCEIF will not be allowed to continue the Programme
and will be required to reapply for admission and pay the required fees.
Candidates who fail to comply with the above conditions will automatically cease to be a
registered candidate of INCEIF.
Candidates who fail to sit for an examination due to extraordinary circumstances may be
permitted to defer the examination only up to the following examination session.

7.8.2 Refund Policy

If the candidate intends to leave the Programme or withdraw from any paper in a particular
semester, a refund will be given subject to the Fee Refund Policy, as follows:
a) 100% refund within two (2) weeks of the registration date;
b) 50% refund within four (4) weeks after the closing date of registration;
c) No refund thereafter; and
d) No refund for the short semester.

Refund may be in the form of a credit note or by cash, depending on the circumstances.

The following reasons are not to be considered for deferment / refund request:
a) Extensive workload;
b) Commitment for meetings;
c) Change of job appointment; or
d) Outstation duties.

Any application for exceptional cases (with supporting documents) must be approved by
Dean, School of Professional Studies, subject to clause 7.1.

7.8.3 Barred from Examination

Candidates failing to pay all fees due shall not be allowed to sit for the examination.

7.8.4 Examination Venues

Candidates will be notified of their respective examination venues / centres prior to the
examination through the Statement of Eligibility (SOE) in the Learning Management System

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(LMS). No Candidate will be allowed to sit for examination at venues / centres other than
those determined by INCEIF.

7.8.5 Student Identification

INCEIF will issue a Statement of Eligibility (SOE) to sit for the registered Papers of the MIFP
examination prior to the examination through the Learning Management System (LMS).
Candidates will be required to bring along their Statement of Eligibility together with their
Student ID to the examination venue in order to be permitted to sit the for the examination.

7.8.5 Examination Schedule

The examination schedule will be posted on the Learning Management System. Candidates
are expected to access information pertaining to the same. No individual notification of exams
will be sent to each student.

7.8.6 Candidates Requiring Special Assistance

Candidates with physical disability requiring special assistance to sit for the examinations are
required to submit the request at least one month prior to the examination.

8. Grading

Candidates are assessed on two main elements: course-work and final examination. The final
grade is determined by, the aggregation of marks obtained for course-work and final
examination. The final examination marks will not be released. Examination results are reported
as follows:

Marks Grade
80 – 100 A
75 - 79 A-
70 - 74 B+
65 - 69 B
0 – 64 F

9. Credit Transfers

9.1 Candidates may apply for Credit Transfers in any paper and such Credit Transfers will be
at INCEIF’s discretion.

9.2 Credit Transfers for Papers may be allowed on the basis of comparable papers passed with
acceptable grade from recognized institutions.

9.3 All application for Credit Transfers must be supported by certified documentary evidence.
For details, please refer to the Exemption and Credit Transfer Guideline.

10. Examination Results

10.1 Result Notification

Notification of results will be posted in the LMS system and candidates must access via LMS to
obtain their own results.

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10.2 Certificate of Completion

Candidates will be awarded a full examination Transcript upon completion of the MIFP
Programme.

10.3 Withholding of all Examination Results

INCEIF reserves the right to withhold all examination results of candidates who:
i. Fail to settle any fees or monies due to INCEIF; or
ii. are under any investigation for breach of INCEIF regulation or misconduct of any kind.

10.4 Appeal Against Examination Result

Any appeal for Examination Result shall be made to ASAD within 7 working days from the day
the results issued as per the INCEIF Grade Appeal Procedure.

10.5 Examination misconduct

INCEIF views very seriously any kind of misconduct in examinations and assessments and will
take disciplinary action against candidates for misconduct. Examples of examination
misconduct may include but not limited to the following:
a. Cheating and/or acting dishonestly in any assignment and examination;
b) assisting other candidates to cheat or act dishonestly in any manner;
c) seeking assistance to cheat or to act dishonestly in any assignment and examination;
d) plagiarising; i.e. passing off and/or paraphrasing another person’s work as his own and

without proper acknowledgement to the author;
e) impersonating another candidate during examination;
f) an attempt to tamper with examination scripts or coursework after it has been submitted; or
g) other acts deemed as improper academic conduct.

Please refer to INCEIF Student Disciplinary Policy (Appendix 3)

10.6. Other Misconducts

At any time during the course of the Programme, INCEIF reserves the right to request
candidates to withdraw from the Programme if found guilty of any serious misconduct
detrimental to the interest of INCEIF.

11. Use of Candidates’ Work by INCEIF
11.1 Candidates own the copyright to their works produced as part of their course of
studies. “Work” shall include project papers, term papers and assignments.

11.2 Under the Malaysian Copyright Act 1987, works shall be protected provided that
sufficient effort has been expended to make the work original in character and the work has
been written down, recorded or reduced to material form. Copyright shall subsist during the
life of the author and shall subsist for a period of fifty years after the death of the author. The

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Copyright Act 1987 also allows for fair dealing of works for the purposes of research, private
study, criticism or review provided that proper acknowledgement is given to the author.

11.3 Candidates grant INCEIF an irrevocable, royalty-free, non-exclusive licence to use
his/her copyright for INCEIF’s teaching and research purposes.

11.4 If any Work is jointly developed by a group of candidates, the copyright will be jointly
owned by the group of candidates.

11.5 Please refer to Appendix 4 for sample of the “Declaration of Copyright and
Authorisation To Use”. The Declaration of Copyright and Authorization to Use must be
attached to each work produced by the candidates.

12. Grievance Procedure

Academic Grievances is defined as any event that may impair the candidates’ ability to progress
academically at INCEIF. For details, refer to Academic Grievance Procedure, where applicable.

13. Graduation

Candidates will be awarded with the degree of Masters in Islamic Finance Practice (MIFP) upon
successful completion of all parts of the MIFP Programme. Candidates will need to apply for
convocation to Admission and Student Affairs (ASAD) to be granted their scrolls in the annual
convocation ceremony of INCEIF.

14. The Right to Make Decisions

13.1 INCEIF RESERVES THE RIGHT TO AMEND THESE REGULATIONS AS IT DEEMS NECESSARY
FOR THE INTEREST OF THE PROGRAMME.
13.2 INCEIF reserves the right to waive and vary the clauses in these Regulations at any time and
candidates will be notified of any such variation and/or amendments.

15. Disclaimer

INCEIF is not responsible for any consequences arising from the candidates’ failure to comply
with these regulations, procedures, deadlines or instructions.

16. Effective Date of the Regulations
The above regulations will be effective from June 2014.

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Appendix 1: MIFP Programme Papers ELECTIVE (CANDIDATES TO CHOOSE ONE
ONLY)
MIFP COURSES 1. Islamic Wealth Planning and Management
2. Shariah Issues In Islamic Finance
CORE COURSES (COMPULSORY) 3. Shariah Audit and Compliance
1. Financial Management & Accounting
2. Quantitative Methods 4. Commercial Law and Legal Documentation
3. Economics for Islamic Finance for Islamic Financial Services
4. Shariah Aspects of Business and Finance

5. Shariah Rules in Islamic Financial
Transactions

6. Ethics and Governance

7. Accounting for Islamic Finance

8. Islamic Insurance

9. Islamic Banking Practices

10. Structuring of Financial Requirements

11. Risk Management for Islamic Financial
Institutions

12. Financial Services Marketing

13. Islamic Capital Market

14. Practice Paper

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Appendix 2: Credit Transfer and Exemption Policy

1.0 Definition and abbreviations

 AEERC Refers to Admission, Exemption and Examination Review Committee.
Establishment approved by PDP and also governed by any other Bylaws
of the PDP.

 PDP Refers to Programme Development Panel and acts as a Senate to INCEIF.

 ASAD Refers to Admission and Students Affairs Department that acts as the
front line in the admission process.

 Exemption Refers to excluding candidate with prior approval from AEERC from
taking a specified module and its examination.

 Credit a) Refers to process of transferring credit of courses completed and
Transfer pass from other degree into INCEIF’s degree;

b) Any INCEIF course which is exempted under the Credit transfer
process will not need to be replaced with other course.

 Exemption a) Refers to the process where students are exempted from taking
INCEIF’s course provided that the student has taken and pass a
similar course in other degrees;

b) However, the students will be required to replace the exempted
course with another course offered in INCEIF to complete the credit
hour required under the INCEIF’s programmes.

2.0 Purpose

 Awarding credit transfer and/or exemption for a specified course and its examination to eligible
students.

3.0 Application & Scope

 This policy applies to all INCEIF’s programmes managed by the School of Graduate Studies and
School of Professional Studies.

4.0 Policy Provisions

4.1 Credit 4.1.1 The similarity of syllabus in the completed course and with the course
Transfer 4.1.2 in the INCEIF programme must be at least 80% equal;
Requirement 4.1.3
4.1.4 The result obtained for the completed course must be at least B or
equivalent;

The completed course taken must not be more than 5 years ago
from the date of the credit transfer application;

The completed course must be from the same level or higher than
enrolled INCEIF’s programme.

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4.1.5 Students who transfer to INCEIF prior to completion of their course in
4.1.6 previous institution, credit transfer is allowed for the completed
4.1.7 course, provided that the previous course is at the same level or
higher than the enrolled course at INCEIF;

Credit hours from the courses that will be transferred must be from a
programme that is accredited by MQA or recognised by Malaysia
Public Service Department (JPA) or accredited by the accreditation
authority of the respective countries; and

The transfer of credits must not be more than 13 credit hours of the
total credit hours in the INCEIF’s programmes.

4.2 Exemption 4.2.1 The similarity of syllabus in the completed course and with the course
Requirement 4.2.2 in the INCEIF programme must be at least 80% equal;
4.2.3
4.2.4 The result obtained for the completed course must be at least B or
4.2.5 equivalent;

The completed course taken must not be more than 5 years ago
from the date of the credit transfer application;

The exemption must not be more than 13 credit hours of the total
credit hours in the new programme; and

Courses exempted must be from a programme that is accredited by
MQA or recognised by Malaysia Public Service Department (JPA) or
accredited by the accreditation authority of the respective countries.

4.3 Processing 4.3.1 The processing fees chargeable for credit transfer and exemption are
Fee as follows:

4.4 Application Credit Transfer RM60.00
Criteria Online Programme: RM500.00
 Application Fee
 Fee Upon Approval RM60.00
Face-to-Face Programme: RM500.00
 Application Fee
 Fee Upon Approval RM60.00
Exemption RM150.00
 Application Fee
 Fee Upon Approval

4.4.1 Application is only for first semester of the first year students;

4.4.2 Application will be opened during Add and Drop period only;

4.4.3 Decision will be deliberated during the Exemption Committee
meeting which will be conducted on the 2nd week after the end of the
Add and Drop period.

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Appendix 3: INCEIF Student Disciplinary Policy

Student Misconduct means behaviour that breaches any codified or explicitly stated rules and
regulations of INCEIF.

Student Examination Misconduct shall include but not limited to the following:
a) Cheating and/or acting dishonestly in any assignment and examination;
b) assisting other students to cheat or act dishonestly in any manner;
c) seeking assistance to cheat or to act dishonestly in any assignment and examination;
d) plagiarising; i.e. passing off and/or paraphrasing another person’s work as his own and without
proper acknowledgement to the author;
e) impersonating another student during examination;
f) an attempt to tamper with examination scripts or coursework after it has been submitted;
g) other acts deemed as improper academic conduct.

Student Non-Academic Misconduct shall include but not limited to the following:
a) conduct in violation of any rules and regulations of INCEIF;
b) acting dishonestly in relation to an application for admission to INCEIF;
c) prejudicing the good name of INCEIF;
d) breach of confidentiality and privacy requirements or obligations in respect of INCEIF or its
staff, students or other relevant parties;
e) interfering with the freedom of other persons to pursue their studies, carry out their functions
or participate in the life at INCEIF;
f) harassing or engaging in other improper or discriminatory conduct towards another student,
officer of INCEIF, visitor or any other person whilst pursuing his/her activity related to INCEIF;
must harassment shall not be limited to race, ethnic or national origin, gender, marital status,
sexual preference, disability, age, political conviction or religious belief;
g) removing from the examination room without authority any stationery supplied by INCEIF;
h) offering a bribe in whatever form to an invigilator, examiner or other person connected with
assessment;
i) accessing or using another student’s academic work by theft or other unauthorised means;
j) furnishing false or misleading information to INCEIF staff;
k) theft, malicious destruction, damage or injury to property of INCEIF;
l) possession, use or distribution of any alcohol or drugs which is prohibited by law;
m) possession or distribution of obscene materials, within or outside INCEIF premises;
n) breach of student visa requirements (for foreign students only);
o) gambling; and
p) unauthorised entry into, or use of INCEIF facilities.

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1 PURPOSE

1.1 To implement rules and procedures in relation to student conduct including procedures for
suspension and expulsion. This is to ensure discipline and good behaviour of the students.

2 ACADEMIC REGULATION
2.1 This procedure shall be read together with the Academic Regulation.

3. ENFORCEMENT

3.1 The Chief Academic Officer (CAO) shall have the power to take any disciplinary action against
any Student for a misconduct under this policy.

3.1 The CAO may appoint any officer of INCEIF to exercise any of all of his duties, powers or
responsibilities under this policy, and such appointed officer has the obligation to report to
the CAO on the exercise of duties, powers or responsibilities under this policy.

4. STUDENT DISCIPLINARY PROCEDURE

4.1 OFFENCES RELATED TO EXAMINATION MISCONDUCT

4.1.1 The following procedure shall apply to an Examination Misconduct.

i) Where an allegation is of Examination Misconduct, any faculty member who discovers
such misconduct in any student assignment, coursework and/or examination script
may report to the Head of Department (HOD) of the particular subject.

ii) That HOD shall then file an official written complaint with the CAO. The CAO shall then
nominate a faculty member to undertake an investigation and make a finding.

iii) The CAO shall determine whether there is sufficient cause, based on the evidence
compiled, to call the Student to answer the allegation. The CAO may dismiss the
allegation without any record in the Student’s file or present the allegation to the
Student concerned and give an opportunity to the Student to answer the allegation.

iv) The Student shall then be notified at least five (5) working days before the date of the
interview. The Student may be accompanied by a friend or representative. The
interview shall be conducted by the CAO and Head of Department (“the Panel”). The
Panel may adjourn the interview to seek other evidence and to make its decision.
Having interviewed the Student, the CAO may decide:

(a) if allegation is not proven, the CAO shall direct that no further action be taken
against the Student and no record of such allegation be entered into the Student’s
records; or

(b) if the allegation is proven, the CAO has the power to impose one or more of the
following penalties:

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