Associate Qualification in Islamic Finance (AQIF)
AQIF is designed specifically to meet industry needs and standards. AQIF is developed to equip and assist working adults as well as industry practitioners in enhancing their competencies, skills and knowledge in Islamic Finance.
Designed for all levels of industry practitioners, from new executives to promising managers, each module aims to deliver what Islamic Finance practitioners need most – knowledge in the basic foundation and philosophy of Islamic Finance and its applications in Islamic Finance operations. Upon completion of AQIF, candidates are prepared for higher qualifications leading to the Certified Qualification in Islamic Finance (CQIF) with specializations in either Banking, Takaful, Capital Market.
Ability and competency to:
- Identify and apply the Shariah fundamentals related to contracts in operations and product related transactions
- Analyze the mechanisms and various structures of Islamic Finance
- Differentiate between conventional and Islamic Finance products and operations.
Mode of Learning
- Online / e-learning
- Blended Learning (For in house arrangement, please contact us for more details)
12 Months (1 year)
M1: Philosophy and Fundamentals of Shariah for Islamic Finance
This course provides a comprehensive understanding on the origin, sources, purpose and philosophy of Shariah Islamiyah which is the foundation of the Islamic financial system. This course will also highlight the basic fundamentals and pillars of the application of Islamic laws in financial practice, which will be a basis for the Islamic financial institutions to comply with the stated laws and principles.
M2: Application of Shariah in Islamic Finance
This course will highlight the application and mechanism of the most widely used Shariah contracts in Islamic Finance. Throughout the course, participants will examine and synthesize the various Shariah contracts in structuring Islamic financial products and services.
M3: Ethics in Islamic Finance
This course provides fundamental knowledge of ethics from an Islamic perspective and its relation to Islamic Finance activities. This is based on the principles that Islamic Finance offers global financial stability and high ethical standards.
M4: Legal Aspect & Governance for Islamic Finance
This course provides comprehensive understanding of the Islamic laws and principles that govern the Islamic financial system. The highlight will be on the importance of Shariah governance in Islamic Finance which is in accordance with local as well as international regulatory guidelines and standards.
M5: Islamic Finance Architecture
The strength of the industry lies in its architecture that gives options to the customers. Nonetheless, the contemporary Islamic Finance architecture still needs refinement and enhancement to make it as competitive as the conventional system. Hence, this programme will highlight the important components in the contemporary Islamic Finance architecture which comprises of the underlying Shariah principles, the instruments and the issues relevant to the Islamic financial products and services.
Specifically, AQIF is meant for all levels of Islamic Finance practitioners, professionals, academicians lawyers, regulators and the like, but with growing interest coming from other segments, a requirement of minimum Malaysia’s SPM or equivalent is imposed.
Method of Examination:
- One Hundred (100) Multiple Choice Questions
- Two and a half (2 ½) hours examination
- Passing mark: 60%