PP - 538 lslomic Pricing Benchmork INOHD AZMI OMAR
Azmon Md Noor, Ahomed Komeel Mydin Meero, Turkhon Ali Abdul Monop, Shobri Abdul Moiid, Shorifoh Roihon Syed Zoin, Md. Ali Sorif
lnstilufe of /s/omic Bonking & Finonce
The lslomic finonce ond bqnking industry hos developed tremendously in receni yeors. The viobility of lhis industry os on ohernoiive method of investmenr con no longer be denied. As lhe current globol economic ond finonciol crisis loid bore the systemic problems of convenliondl finonce, the lslomic finonciol system hos been offered os o solufion by iis proponenis. However, lslomic finonce hos been using conventidnql finonce benchmqrks, such os KLIBOR, COFI, LIBOR, etc. io determine its own cosl of funds, ond hence ils relurn on finonciql investmenfs. This is so becouse lslomic finonce, if not port of the existing conventionol finonce, hos olwoys seryed os o finoncidl inlermedidry for surplus qnd deficit units, lslomic bdnking, os the dominont institution in the lslomic finonce industry, hos gone beyond the function of q finonciql inlermediory, for il olso serves os o wokil, custodion, portner, enlrepreneur, ond guqronfor. Nonetheless, lslomic finonce hqs yet to come up with on ohernotive lslomic Pricing Benchmork (lPB) to determine its cosf of cqpitql. The need for hoving such qn IPB for lslomic finonce connot be overemphosized; fhot would mol<e il more comprehensive ond independent from lhe conventionol benchmorl<s thot rely on interesi roles, ihe very thing thot lslomic finonce obhors, Therefore, this proieci oims lo develop on lslomic pricing benchmork model for the lslomic bcnking industry, more specificolly for Moloysio, given its prominence in lhe lslomic finonce industry. The proiect hos reviewed the Shorioh perspective on on lslomic pricing benchmork ond hos olso exdmined the conventiondl pricing benchmork being used by bonks. The poper further discusses the theoreticql formulofion of on lslomic benchmork. Thereofter, using sectorol industry dnd mocroeconomic dotq, it tests fhe viobiliiy of the benchmork using simulotion. The resulls show thot lhe IPB is more stoble thon conventionol finonce benchmorks ond hence con be used os o benchmork pricing model for lslomic finonce.
P- 7O2 A Srudy of the Relotionships belween Strotegic Plonning Proctices cnd Perceived School Excellence
HAIRUDDIN MOHD ALI losisi Aboss Ayode/e lnslilute of Educolion
This sfudy ottempis lo exomine the extent of the proctice of sfrotegic plqnning ot Internotionol lslomic School (llS), o sub-business unit of lnternotionol lslomic University Moloysio. The moin obiective of the study i5 to investigqte the extent llS proctice strotegic pldnning for school excellence, For this purpose, o sef of queslionnoires using five point Likert Scole wos designed to gei informolion from the torgeted respondents comprised the iop execuiives ond members of the strofegic plonning teqm of llS. The study moinly used the descripiive stotisfics for dolo onolysis. The moin finding of the sludy confirmed lhot llS hos prqcticed oll five processes of strolegic plonning for school excellence.
