The IFMP Islamic Finance Certification covers the concepts of economic system, contract, and banking, modes of deposit, pool management, insurance, capital markets and funds according to Islamic law for products related to financial market.
Objective of the Examination
This Certification Exam specifically designed to meet the minimum qualifications needs of all the professionals related to Islamic banking and finance. It intends to ensure that the professionals dealing with its techniques are competent enough in their work.
This exam has been designed for all the professionals working in financial markets or is connected to it.
The curriculum is divided into elements which are further broken down into learning outcomes. Each learning objective starts with a specific prefix which indicates the level of skills to be tested. The following prefixes are used in this curriculum:
- Know the candidate to recall information such as facts, rules and principles
- Understand the candidate to demonstrate comprehension of an issue, fact, rule or principle.
- Be able to use formulae to perform calculations.
- Be able to apply their knowledge to a given set of circumstances in order to present a clear and detailed explanation of a situation, rule or principle.
Each examination paper is constructed from a specification that determines the weightings that will be given to each element. The specification is given below.
It is important to note that the numbers quoted may vary slightly from examination to examination as there is some flexibility to ensure that each examination has a consistent level of difficulty. However, the number of questions tested in each element will not change by more than plus or minus 2. This comprises of 100 multiple choice questions.
|1||Introduction to Islamic finance and economic system||17%|
|2||Islamic finance products – Asset side and fee based services||15%|
|3||Deposits and Pool management for Islamic banks||13%|
|4||Introduction to Islamic insurance (Takaful)||6%|
|5||Islamic capital markets and funds||26%|
|6||Accounting, auditing and Shariah auditing for Islamic financial institutions||8%|
|7||Regulatory framework for Islamic banking and other IFIS||5%|
|Introduction to governance and risk management||10%|
- This will be a 150 minutes examination of 100 Multiple Choice Questions (MCQs).
- All questions will carry equal marks.
- There will be no negative marking.
To download the summary syllabus of Islamic Finance Certification, please , please click here.