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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 take-up 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 Mr. Michael Mr. Adam
Age 50 29
Occupation Businessman Marketing manager
Status Married with 4 children aged
between 8 to 17
Single
Personal Income RM18,000 to RM20,000 p.m. RM6,000
Household Income RM25,000 to RM27,000 RM6,000
Product with other Banks Loans Outstanding
• Housing Loan RM248,000
(Value RM850,000)
Loans Outstanding
• Car Loan RM55,000
• Credit Card RM12,000

2. • Shop loan RM450,000 (Value
RM470,000)
• Personal Overdraft
RM213,000
• Credit Card RM55,500
• Car Loan RM176,000
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
• Personal Loan RM8,200
Asset
• Basic Current / Savings
Account RM1,990
• High Return Savings
RM3,000
• Fixed Deposit RM9,000
• Unit Trust RM7,000
Product with your Bank • Current Account : RM2,050 • Savings Account :
RM15,000
Other Assets • Shares RM111,000
• Mutual Funds RM79,000
• Pension FundBalance
RM1,877,000
• Shares RM1,570
• EPF( Pension Fund)
Balance RM42,000
Estimated Net worth RM4.1 million Not available
Working Experience (years) 35 years 6 years
Personal Objectives Health & Family Lifestyle & Career
Hobbies Golf, Travel & Cars 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

3. 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. From the available data, what other products that you can cross-sell to improve the customer relationship and
profitability for the Bank? (5 marks)
• 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 inter-bank 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.

4. 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. What additional information would you require from the customer to enable you to improve the customer
portfolio? Discuss. ( 5 marks)

5. “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. Are there any further services that you may offer / customize for him? Discuss. (5
marks)
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;

6. 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. In your opinion which is easier to influence and manage, an adult customer Mr. Michael or a young manager
like Mr. Adam? Why? ( 5 marks)
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.

7. 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

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