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FAQs
The following frequently asked questions address some of the questions you may have about the CIMA Certificate in Islamic Finance.
What is different about the CIMA Certificate in Islamic Finance?
Cert IF is the first certificate in Islamic finance to be created by a professional chartered accountancy institute in conjunction with an advisory group of Shari'ah academics and scholars.
Who is the certificate aimed at?
- Employees already working in the industry who want to have more detailed knowledge of Islamic finance
- People who wish to enter the industry
- Those who are simply interested in the subject matter
- Companies and employers that need to increase their talent pool of Islamic finance staff
What does the certificate package include?
The package will include:
- four study guides with all material necessary for studying the qualification
- access to this dedicated website
- electronic assessment for examination
- two sittings of each assessment.
The four study modules are:
- Islamic commercial law
- Islamic banking and Takaful
- Islamic capital markets and instruments
- Accounting for Islamic financial institutions.
What subjects will each study guide cover?
We have listed the subjects that you will cover under the relevant headings below.
Islamic commercial law
- Sources of Islamic commercial law
- Methodology of interpretation of Islamic commercial law
- Salient features of Islamic finance
- Formation and classification of contracts
- Application of Islamic contracts in Islamic finance
- Implementation of Shari'ah standards, policies and rulings in Islamic finance
Islamic banking and Takaful
- Development of Islamic financial system and institutions
- Deposits, investment account and deposit funds
- Islamic banking products and services
- Trade finance and treasury products
- Takaful products and services
- Financial and operational risk of Islamic financial institutions
Islamic capital markets and instruments
- Overview of global Islamic capital market developments
- Essential Shari'ah principles governing Islamic capital
- Islamic bonds, sukuks and asset backed securities (ABS)
- Islamic stock screening criteria
- Islamic Real Estate Investment Trusts (IREITS) and Islamic mutual funds
- Islamic structured products
Accounting for Islamic financial institutions
- Framework of financial reporting of Islamic financial institutions and AAOIFI financial reporting standards
- Financial statements of Islamic financial institutions
- Accounting for investment accounts and profit equalization reserve
- Accounting for Islamic financing contracts
- External auditors, Shari'ah board, audit and governance committee
Where can I enlist for classes?
Cert IF is a self study qualification, to be undertaken at your own pace. You don't need to enlist for any classes.
How much does it cost?
The complete package (including two attempts at each assessment) costs £1,500.
How can I enrol and pay?
You can enrol and pay online, using the button at the bottom of this page.
When will I receive my study guides?
Once you have successfully enrolled online you will be sent a confirmation email. Shortly afterwards you will receive your four study guides through the post.
Are there any other study materials in addition to the study guides?
The four study guides should contain everything you need in order to study for the qualification. To make sure you get the most from your guides, download our complete study and examination instructions (PDF 56KB).
How can I contact CIMA about Cert IF?
Please contact us by email or phone:
E cert.if@cimaglobal.com
F +44 (0)20 8849 2251
Question not above?
See our updated list of frequently asked questions.(PDF 39KB)
