AAOIFI
Certified Islamic Professional Accountant (CIPA)
CIPA at a Glance
| Aspect | Details |
|---|---|
| Launch & Revamp | 2006 (Relaunched 2017) |
| Modules | 4 |
| Practical Experience | 1 year (PER) required |
| Self-Study | Minimum 325 hours |
| Exam Centers | 65+ globally |
Program Overview
| Certified Islamic Professional Accountant (CIPA) | |
|---|---|
| CIPA is a fellowship program in Islamic finance accountancy offered by AAOIFI. It equips candidates with technical knowledge and professional skills in accountancy, audit, risk management, governance, law, and taxation for Islamic financial institutions. | |
| Category | Details |
| Why Become a CIPA Fellow? | – Join a community of AAOIFI-certified professionals worldwide. – Gain expertise in Islamic finance accountancy, audit, and governance. – Enhance career opportunities in Islamic financial institutions. |
| Powerful Learning Content | – Based on AAOIFI standards developed by industry founders and practitioners. – Covers accounting, Shari’ah, audit, law, taxation, risk management, capital adequacy, and governance. – Includes a Practical Experience Requirement (PER) for hands-on learning in Islamic finance accountancy. |
| Excellent Career Opportunities | – Growing demand for professionals who understand and apply AAOIFI standards. – Backed by AAOIFI, a globally recognized Islamic finance standard-setting body. – Recognized by regulators, Islamic financial institutions, and professional organizations worldwide. |
| Language | Arabic, English, and Russian. |
| Eligibility | Bachelor’s degree or professional qualification in accountancy. |
| 2025 Exam Deadlines | – June Exam: Register by 22 May 2025. – December Exam: Register by 30 Oct 2025. |
Key Notes
- Focus: Combines Shari’ah principles with practical finance applications.
- Recognition: Backed by AAOIFI, a leading Islamic finance standards body.
Curriculum
Exemption
Examinations
CIPA Fellowship
Fee and Discount
Curriculum
| Curriculum | |
|---|---|
| CIPA consists of four modules and a one-year practical experience requirement (PER). | |
| Module | Details |
| Module 1 | Financial Accounting and Reporting (FAR) |
| Module 2 | Audit, Assurance, and Ethics (AAE) |
| Module 3 | Business and Regulatory Environment (BRE) |
| Module 4 | Shari’ah Standards and Shari’ah Governance (SSSG) |
| Practical Experience Requirement (PER) | |
|---|---|
| Duration | 1 year |
| Place of PER | Any pre-approved institution |
| Supervisor | Any pre-approved Islamic finance professional |
| Deliverable | Submission of periodic and final reports to AAOIFI |
| Requirement | Fulfillment of accountancy-related work performed for IFIs |
| Exemption | Provided on a case-by-case basis. Alternative to PER: Candidates may submit two 5,000-7,000 word research papers on a pre-approved topic in Islamic finance accountancy. |
Exemption
| Exemption | |
|---|---|
| Module exemptions are generally offered as follows: | |
| Module | Exemption Criteria |
| FAR | CPFAS certificate |
| AAE | ACCA members who have passed P7 exam, CA, or any other related professional qualification |
| BRE | Any professional qualification of a body recognized by IFAC |
| SSSG | CSAA, CSE, or CSA fellowships qualification by a body recognized by IFAC |
| PER Exemption | |
|---|---|
| Partial (6-months exemption) | Full exemption |
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Examinations
| Examinations | ||||
|---|---|---|---|---|
| The 2025 examination schedule is as follows: | ||||
| Module | Window 1 | Window 2 | Duration (hrs) | Format |
| FAR | 23 June 2025 | 1 Dec 2025 | 3 | Multiple Choice Questions (MCQs) & scenario vignettes |
| AAE | 24 June 2025 | 2 Dec 2025 | 1.5 | Multiple Choice Questions (MCQs) & scenario vignettes |
| BRE | 24 June 2025 | 2 Dec 2025 | 1.5 | Multiple Choice Questions (MCQs) & scenario vignettes |
| SSSG | 25 June 2025 | 3 Dec 2025 | 2 | Multiple Choice Questions (MCQs) & scenario vignettes |
CIPA Fellowship
| CIPA Fellowship | |
|---|---|
| To become a fellow of the CIPA, the candidate must: | |
| 1 | Pass all four modules (or qualify for module exemption(s)) |
| 2 | Earn a passing grade in PER |
| 3 | Meet the eligibility criteria |
| 4 | Pay any applicable dues |
| *For latest information, visit www.aaoifi.com | |
Fee and Discount
| Fees & Discounts | Details |
|---|---|
| Program Fees | USD 2,200 (includes registration, four study texts, four mock exams, four exam sittings, PER fee, and CIPA certificate fee with postal expenses). |
| TAIF Group Discount | Register with TAIF Learning to avail the discount. Or contact us at contact@taiflearning.com. |
| TAIF Discount for Non-GCC | USD 770 |
| TAIF Discount for GCC | USD 1,430 |
| Discounted Fee | Discounted fee does not include certificate postal charges. |
First Time Applicants
Applying For Remaining Modules
Re-appearing Applicant
First Time Applicants
Applying For Remaining Modules
Re-appearing Applicant
Training and Awareness of Islamic Finance.
contact@taiflearning.com
+971543739331