Islamic Finance Qualification

(CISI Level 3 Certificate in Islamic Finance (IFQ))

The Islamic Finance Qualification (IFQ) is a ground-breaking qualification that covers Islamic finance from both a technical and a Sharia’a perspective, providing the first international benchmark in the area of Islamic finance.

It provides an understanding of the influence of Sharia’a in a business context and prepares candidates to hold key positions in the Islamic finance and takaful (Islamic insurance) industries. 

The qualification is appropriate for existing and new employees and those seeking a career in Islamic finance.


Key features of the Islamic Finance Qualification
  • Sharia’a compliant
  • Available internationally in English and Arabic
  • Provides knowledge of the general principles of Sharia’a (fiqh al muamalat) and their application to Islamic banking and finance
  • Examines the practices used in the Islamic financial markets and the principles behind investment selections
  • Initiated and supported by the Central Bank of Lebanon (Banque du Liban)
  • Awarded jointly by the CISI and l’Ecole Supérieure des Affaires (ESA)
  • Earn CPD hours upon successful completion of the qualification


Qualification Structure

The award is achieved by successfully passing a multiple-choice question exam:


Islamic Finance Qualification
Syllabus Summary:
  • The Basis of Islamic Banking and Finance
  • An Introduction to Islamic Banking and Finance
  • Islamic Law of Contracts
  • Financial Contracts and Techniques Applied by Islamic Banks
  • Islamic Asset and Fund Management
  • Sukuk Market
  • Islamic Insurance - Takaful
  • Financial Statements
  • Islamic Corporate Governance



Ofqual

This Certificate is regulated by Ofqual as a level 3 qualification. On the European Qualifications Framework, this equates to a level 4 qualification.
 

Study Options

Self Study

Self-study using the CISI's learning manuals and elearning products. When you book for your exam either individually or through one of our Accredited Training Providers you will also be required to purchase the most up-to-date CISI workbook for the IFQ.



Training Courses

The CISI accredit a wide range of training providers to deliver formal training for our exams and you can register directly with the provider of your choice.
Study Options

Training Courses
The CISI accredit a wide range of training providers to deliver formal training for our exams and you can register directly with the provider of your choice.
Self-study
You can choose the self-study route and use the range of materials available including:
UK candidates - when you book for an examination, either individually or through one of our Accredited Training Providers, you will also receive the most up-to-date CISI workbook for that subject (unless you have already purchased the workbook). We have made this change to ensure that candidates preparing for our exams always have the same definitive study materials for that exam.

Register and Book

Register with the CISI
New candidates intending to take CISI qualifications need to first register with the CISI. Upon registering, you will receive a candidate number, password and access to the CISI's online systems.


Book your exams
Candidates can book:

Register for your qualification
After booking your exams you need to register for your qualification. Please be sure you have read and understood the exam regulations and policies.

The latest prices for exams are listed on the online price list.

Post Qualification Opportunities

Membership
Obtaining the Islamic Finance Qualification qualification entitles candidates to join the Institute at Associate level. As a member of the Institute, you will enjoy the recognition of being a professional in a world of increasing competition. The extensive continuing professional development (CPD) opportunities available through the CISI’s suite of membership benefits ensures financial services practitioners can maintain competence and meet the requirements of firms and the regulator.


Higher Level Qualifications
Upon successfully completing the IFQ, candidates can further their theoretical and practical knowledge by completing higher level Islamic Finance qualifications.

New - Diploma and Advance Diploma in Islamic Finance - Launching 2015/2016

The Level 4 diploma qualifications provide a higher-level pathway for Islamic Finance professionals. It provides an in-depth analysis of Islamic principles for practitioners to demonstrate their advanced knowledge of the markets and practices.

Units are likely to include: Risk Management, Accounting for Islamic Finance institutions, Sharia’a Auditing, governance and ethics, Islamic Finance markets and Instruments.




We have agreed a partnership with the Institute of Islamic Banking and Insurance (IIBI), where candidates with the IFQ can apply for the IIBI's Diploma