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CISI Islamic Finance Qualification (Preparatory Course)

1500
CISI Islamic Finance Qualification (Preparatory Course)
AED1,500.00

Start Date: May 22, 2021

What You Will Learn

  • Gain a comprehensive understanding of the legal, structural and ethical basis of Islamic banking and finance and how it differs from conventional finance.
  • Develop an appropriate level of understanding of the main principles, rules and prohibitions of Islamic banking and finance.
  • Acquire essential knowledge about the key Islamic financial contracts and how they are applied in Banking, Sukuk, Takaful and Asset Management.
  • Expose the participants to a wide range of Islamic banking and finance products and instruments available to the industry players.
  • Provide an understanding of the primary tools for structuring Islamic financial transactions.
  • Be familiarized with the Islamic financial infrastructure, international financial institutions and regulatory bodies.
  • Understand the need for Islamic accounting standards and the importance of Islamic corporate governance.

  Click here to review course introduction webinar & details

Language: English

Duration: 10 Live Virtual Classes on Weekends (Saturday & Sunday)

Availability:5 seats left
Course Code CISI Islamic Finance Qualification (Preparatory Course)
Details

Course Objective

IFQ is an internationally recognised qualification awarded by the Chartered Institute for Securities & Investment (CISI), developed in conjunction with the Bahrain Institute on Banking and Finance (BIBF), recognized by Ofqual (the UK government education regulator) and supported by the Central Bank of Lebanon. It is an industry leading qualification which covers Islamic finance from both a technical and a Sharia’a perspective. Developed by industry experts, the qualification will equip candidates 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 banking & finance and takaful (Islamic insurance) industries.

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Instructor Profile: 

Patrick Mahdi is an Islamic Financial Planner, Educator, and Trainer with extensive UK and international experience. More than 25 years in the UK working in partnership with clients helping them to achieve their financial goals through holistic financial planning aligned with their ethical values.

In the UAE, he successfully pioneered the opening of an Islamic window at Holborn Assets in Dubai covering the full remit of Islamic wealth management solutions. His passion for Islamic Finance lead him to establish the Islamic Financial Education Initiative – IFEi, which aims at making Islamic financial knowledge more accessible to all. He developed the Islamic Finance for Everyone (IFfE) course – a practical course that aims to equip people with the necessary knowledge and techniques to manage their financial affairs and prosper financially whilst staying true to their beliefs. 

As a passionate financial trainer and educator, his motto is You Are What You Think! Your Mind is your Greatest Asset!  He has delivered extensive Islamic Finance, Wealth Management, Real Estate, CISI Qualifications, Regulatory and Compliance trainings throughout the Middle East and Europe. Through his extensive industry and international markets experience he brings learning to life and promotes a participative style of learning.

An advocate of professionalism and excellence, he holds 17 professional qualifications from Chartered Institute for Securities and Investments (CISI), CFA Institute, and the Chartered Insurance Institute (CII). He has helped review and advised AAOIFI on improvements to its Certified Islamic Professional Accountant (CIPA) qualification. His articles have appeared in leading publications and he is a regular guest lecturer at Universities and Associations.

Syllabus

Download Virtual Class Schedule and Course Syllabus

 

Course Details

  1. The Basis of Islamic Banking and Finance
  • Introduction
  • Islamic Banking and Finance: Conceptual Framework
  • Islamic Fundamentals

 

  1. An Introduction to Islamic Banking and Finance
  • The History of Islamic Finance
  • The Structure and Scope of the Islamic Finance Industry

 

  1. Islamic Principles of Exchange
  • Islamic Teachings Relating to Business
  • Principles of Islamic Contracting
  • Major Prohibitions: Riba & Gharar
  • Rules of Exchange

 

  1. Basic Contracts and Their Treatment
  • Contracts of Exchange
  • Contracts Allowing the Transfer of the Usufruct 69
  • Partnership Contracts
  • Security Contracts
  • Wakala (Agency Contract)
  • The Rules Regarding Foreign Exchange Transactions (Sarf)
  • Accounting Treatment

 

  1. Financial Contracts and Techniques Applied by Islamic Banks
  • Sources and Uses of Funds
  • Predictable Return versus Profit-Loss Sharing Modes of Finance
  • Mudaraba – Sharia’a Standards
  • Application of Wa’d
  • Musharaka – Sharia’a Standards
  • Murabaha – Sharia’a Standards
  • Other Contracts
  • Ijara and Ijara Muntahia Bitamleek – Sharia’a Standards
  • Salam and Parallel Salam – Sharia’a Standards
  • Istisn’a and Parallel Istisn’a – Sharia’a Standards
  • Off-Balance Sheet Financing (Letters of Credit)

 

  1. Islamic Asset Management
  • Asset Management
  • Selection of Sharia’a-Compliant Investments
  • The Definition of a Fund
  • Islamic Fund Management Structures
  • Types of Funds

 

  1. Sukuk Market
  • Definition, Management and Characteristics of Sukuk
  • Structuring Sukuk Transactions
  • The Different Types of Sukuk
  • The Main Types of Sukuk
  • Sukuk Rule Changes 2008
  • Capital Market Considerations Relating to Sukuk

 

  1. Islamic Insurance – Takaful
  • Types of Takaful Undertaking
  • Structure of Takaful Undertakings
  • Underwriting Surplus and Technical Provisions
  • Insurance Industry Considerations
  • Reinsurance and Retakaful
  • Sharia’a Governance and Compliance

 

  1. Islamic Corporate Governance
  • Corporate Governance
  • Corporate Governance in Financial Institutions
  • Sharia’a Supervisory Board
  • Internal Sharia’a Audit
  • Governance Standards
  • Sharia’a Compliance and Investment Account Holders
  • Corporate Governance Implications for Islamic Insurance (Takaful)

 

The CISI IFQ official full syllabus can be accessed here:

https://www.cisi.org/bookmark/web9/common/library/files/qualifications/IFQ%20syllabus%20V9%20final%20clean%20version.pdf   

 

Exam:

2 Hours Duration

100 Multiple Choice Questions

Pass Mark is 70%.

 

The course does not include the workbook nor the exam registration fee with CISI.

Exam registration includes the workbook and can be booked from https://www.cisi.org/cisiweb2/shop/exam-shop     

 

(The exam date can be changed without charge by giving 2 weeks prior notice to CISI.)

 

If you do not plan to do the exam and wish to order the workbook separately it can be ordered from:

https://www.cisi.org/cisiweb2/shop/learning-materials-detail?bookid=784&isBundle=true

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