Fundamentals of Islamic Banking and Finance

Level 2 Award in Fundamentals of Islamic Banking & Finance

Why study the Fundamentals of Islamic Banking and Finance?

This new qualification provides an introduction to the philosophy of Islamic banking and finance and offers an overview of the profession.

Developed in conjunction with the Bahrain Institute of Banking and Finance, with professional experts and practitioners, it covers the key Islamic banking and finance principles and concepts including Islamic economics and its worldview, infrastructure and history, Islamic business ethics, and Shariah and Fiqh principles.

Is the Fundamentals of Islamic Banking and Finance right for me?

Fundamentals of Islamic Banking and Finance is an ideal qualification for those wishing to launch a career in Islamic banking and finance. It is suitable for all staff working in, or aspiring to work in, the Islamic finance areas of financial services.

It is also suited to those wishing to further their studies and research related to this field or professionals operating in financial services who want to gain a comprehensive overview of the Islamic finance sector.

Key features:

  • Offers a progressive study pathway – it is the first step in the CISI’s Islamic finance qualifications study pathway and offers access to higher-level qualifications
  • An entry-level qualification ideal for induction purposes – can be integrated into induction programmes to ensure a benchmark level of understanding amongst all employees
  • Demonstrates expertise in the fast growing world of Islamic banking and finance
  • Available in English and an Arabic version will be available soon
  • Free CISI Student membership - become associated with a Chartered professional body and take advantage of an extensive range of benefits

Qualification factsheet

Qualification Structure

The qualification is achieved by successfully passing a multiple-choice question exam and details for this exam are shown below.

Fundamentals of Islamic Banking & Finance is recognised by Ofqual as the level 2 Award in Fundamentals of Islamic Banking & Finance and as a level 2 qualification on the Regulated Qualifications Framework (RQF). On the European Qualifications Framework, this equates to a level 3 qualification.

Total Qualification Time:
81 hours

Total Qualification time is a term that Ofqual require awarding organisations to use. It is an estimate of the total time a candidate might typically take to complete the qualification. It includes Guided Learning Hours and any other time a candidate is likely to spend in studying for the qualification.

 

Exam Details

Exam Availability

Pass Mark / Pass Rate

The current pass rate for this exam is and the pass mark is . The exam grades are as follows:

Regulated Qualifications Framework

credits on the Regulated Qualifications Framework are awarded upon successfully passing this exam

Feedback and Appeals

For further details on how to give us your feedback and / or Appeal your result, please refer to our Exam Policies.

Study support

Self-study

A CISI workbook is required to be purchased when booking the exam. This is to ensure there is one standard workbook from which all exam candidates can prepare. You can also choose to purchase CISI elearning to support your exam preparation.

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Accredited Training Partners

You can choose to complete formal training for our exams with a CISI Accredited Training Partner (ATP).

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Post Qualification Opportunities

Membership

Obtaining the Fundamentals of Islamic Banking and Finance qualification entitles you to join the Institute at Affiliate 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

To further your theoretical and practical knowledge upon completion of this qualification, higher level qualifications to take include: