21 Ramadan: Wise Wealth Managers
Islamic wealth management is seen as a subset of Islamic finance. The process practised by Wealth Managers considers one’s financial circumstances and then take steps to solve problems and achieve financial goals with the compliance of Shariah.
The main basis of Islamic wealth management is that wealth belongs to Allah SWT and human beings are mere trustees. Therefore, no matter what the objective is in acquiring wealth, with this mindset in place and a sense of responsibility for the wealth beyond self-indulgence, it ensures that a person’s wealth is managed in such a way that it will improve or give a much better return using multiple forms of investment vehicles.
It is important to note that one of the objectives of Islamic wealth management is to achieve the balance between the material and soul, to be a person who lives to fulfil the needs of both equally. This established concept is not against wealth creation, but it is to monitor and regulate acquiring wealth and spending according to Shariah principles. This fundamental principle should be understood by Wealth Managers and the Clients alike.
The Associate Qualification in Islamic Finance (AQIF) is designed specifically for meeting industry’s 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.
Upon completion, participants will be able to:
- Acquire basic knowledge of Shariah, the requirements of Mualamat contracts and the differences between Islamic and Conventional Finance;
- Apply various Shariah contracts commonly applied in mainstream Islamic finance products and services;
- Understand the fundamental knowledge of ethics from Islamic perspective and its relation to Islamic finance;
- Understand the principles of Islamic law and other regulatory framework that govern the Islamic Financial system; and
- Identify the basic components in contemporary Islamic Architecture.
Successful candidates will be awarded the AQIF certification.
IBFIM Online offers Associate Qualification in Islamic Finance (AQIF) as a series of modules, where practitioners may access anytime, anywhere. Try our 5-day trial and find out for yourself the convenience of online learning with IBFIM.