07 April 2020: Coronavirus Update. The situation is fast moving and we are continuing to monitor the global situation and its impact on our members, staff, exam candidates, students and the profession. More information for Members and Students in My CIMA.

Content of certificates

There are four certificates to choose from:

Certificate in Islamic commercial law

  • introduction to Islamic commercial law as it relates to Islamic finance
  • the sources of the Islamic commercial law including the Qur’an and the traditions of the Prophet Mohammad
  • the methodologies used to solve modern problems in Islamic finance
  • shari’ah compliance and the importance of the shari’ah standards.

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Certificate in Islamic banking and takaful – products and services

  • the developments which have taken place with regard to Islamic financial institutions and systems
  • the main source of funds available to banks and how these sources are rewarded
  • the various products developed by Islamic banks for their customers
  • the products and services offered under takaful and issues relating to underwriting, deficits, surpluses and retakaful.

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Certificate in Islamic capital markets and instruments

  • the differences between conventional and Islamic capital markets
  • the primary and secondary capital markets
  • regulation within the Islamic capital market
  • screening processes used in accepting/ rejecting shari’ah compliant products.

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Certificate in accounting for Islamic financial institutions

  • the reporting framework and standards of Islamic financial institutions
  • the analysis and classification of Islamic funding and financing transactions
  • how transactions adopting different contracts of financing are reported in the Islamic financial statements
  • financial accountability and shari’ah compliance of Islamic financial institutions.

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