Islamic Finance Qualification

Level 3 Certificate in Islamic Finance (IFQ)

Why study the Islamic Finance Qualification?

The Islamic Finance Qualification (IFQ) expands upon knowledge gained from Fundamentals of Islamic Banking and Finance. It is a global 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.

Is the Islamic Finance Qualification right for me?

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

Key features:

  • 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
  • Free CISI Student membership – become associated with a Chartered professional body and take advantage of an extensive range of benefits
  • Access to Associate membership and ACSI designatory letters

Qualification Factsheets

Qualification Structure

The qualification is achieved by successfully passing a multiple-choice question exam.  Select a language below to view details for this exam. 

The Islamic Finance Qualification is recognised by Ofqual as the Level 3 Certificate in Islamic Finance (IFQ). This qualification is regulated by Ofqual as a level 3 qualification on the Regulated Qualifications Framework (RQF). Success in this qualification carries with it 13 RQF credits.



Exam Details

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

Exam Availability

Policies & Procedures

Please ensure you have familiarised yourself with our examination policies & procedures before booking your exam.

Study support


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


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.