Islamic Finance Qualification (IFQ) - Factsheet

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1. Islamic Finance Qualification (IFQ) What is the IFQ? Key features The IFQ is a global qualification which covers Islamic finance from both a technical and a Sharia’a perspective. Developed by industry experts, the qualification will equip you for success in this rapidly developing field. 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. • Sharia’a compliant – examines the practices used in the Islamic financial markets and the principles behind investment selections The qualification is available worldwide and both the exam and workbook are produced in English, Arabic and French. The IFQ is an industry leading qualification which is supported by the Banque du Liban (Bank of Lebanon). Who should study for the Islamic Finance Qualification? The IFQ is appropriate for existing and new employees and those seeking a career in Islamic finance. Advisory Council for Islamic Finance The IFQ was initiated by the Banque du Liban (Bank of Lebanon) and was jointly created by l’Ecole Supérieure des Affaires (ESA) and the CISI. These bodies convened the Advisory Council for Islamic Finance (ACIF), a group of experts, to develop and oversee the qualification. • Available in Arabic and French – the exam can be taken in English, Arabic or French • Awarded by two world-renowned institutions – the CISI and l’Ecole Supérieure des Affaires (ESA) • Industry recognition – initiated and supported by the Banque du Liban (Bank of Lebanon) • International qualification – since its launch, the exam has been taken in over 40 countries • Endorsed by the Financial Skills Partnership (FSP) – the IFQ features on the FSP Recommended List of Examinations. • Free CISI Student membership – become associated with a chartered professional body and take advantage of an extensive range of benefits • ACSI designatory letters – you will be eligible to apply for Associate membership of the Institute upon successful completion of the qualification
2. Syllabus summary • • • • • • • • • The Basis of Islamic Banking and Finance An Introduction to Islamic Banking and Finance Islamic Principles of Exchange Basic Contracts and Their Treatment Financial Contracts and Techniques Applied by Islamic Banks Islamic Asset Management Sukuk Market Islamic Insurance – Takaful Islamic Corporate Governance “ 8/16 In the fast-evolving world of Islamic finance, having a strong foundation is key. The IFQ qualification provides a core understanding of the theoretical concepts behind many of today’s products, which is the quintessential first step in tailoring Islamic finance to suit increasingly sophisticated client needs. Rizwan Chaudhry, Senior Associate, The Islamic Bank of Asia Ofqual approval The Islamic Finance Qualification is recognised by Ofqual as the level 3 Certificate in Islamic Finance. 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 credits. Visit cisi.org/ofqual. On the European Qualifications Framework, this equates to a level 4 qualifica tion. For further information visit cisi.org/eqf Studying for the IFQ Preparation, using the accompanying workbook and elearning, requires approximately 130 hours of personal study time. UK candidates only: when you book for an examination, either individually or through one of our Accredited Training Partners, you will also receive the most up-to-date CISI workbook for that subject (unless you have already purchased the workbook). To find an ATP near you visit cisi.org/atp MyStudy The CISI has a variety of tools and information available to help you in the preparation for sitting your exam. You can find sample papers, study tips and exam information - all located in one place, visit cisi.org/mystudy Assessment The qualification is completed by passing a 2 hour exam of 100 multiple-choice questions. The exam is delivered by Computer Based Testing (CBT). A worldwide network of test centres is available, ensuring flexible scheduling, instant results and ease of completing the exam on screen. Visit cisi.org/cbt to find your nearest venue. How to register Step 1: Step 2: Register online at cisi.org/register Book your exams: online – cisi.org/ifq by phone – +44 20 7645 0777 via email – customersupport@cisi.org Step 3: Complete the Qualifications Registration Form at cisi.org/qrf Visit cisi.org/prices for current prices Next steps CISI Membership If you are not currently a CISI member you will receive free CISI Student membership whilst you study and have access to a wide range of benefits. Upon successful completion of the IFQ you will have the opportunity to upgrade to Associate membership and you will be entitled to use the designatory letters, ACSI. CISI membership enables you to develop your career, increase your competence and maintain the highest standards of personal integrity. The programme of free professional benefits assists you to keep up to date with the industry. Visit cisi.org/membership cisi.org/ifq +44 20 7645 0777 customersupport@cisi.org