CIMA Islamic finance qualifications
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CIMA Islamic finance qualifications

Dec 11, 2022 · 2 min read

What is Islamic Finance?

Islamic banking is seen as an alternative to traditional finance and a growing sector of the global finance market which is bringing new opportunities. With the Islamic banking market valued at over USD1.66 trillion, combined with the estimated growth rate of up to 20% year on year, the need for human capital to bring Islamic finance to the level at which it deserves and meet its markets demands is higher than ever.

Islamic finance, with its emphasis on ethical finance, is suitable for both Muslims and non-Muslims and is seen as an alternative to traditional finance.

“There is a real global shortage of people with demonstrable expertise in the complexities of Islamic finance”

Dr Mohd Daud Bakar, renowned Shari’ah expert, and Founderand Executive Chairman of the Amanie Group

Why CIMA Islamic Finance qualifications?

To help fuel growth in Islamic finance, and to help the industry meet its shortage of qualified professionals, CIMA's Islamic finance qualifications are designed to appeal to both those who are completely new to this area of finance, and those who are fully experienced and are keen to develop their expertise to a higher level.

A career in Islamic finance requires unique management skills and knowledge. Professionals in this field must ensure that all financial activities are carried out in accordance with Shari'ah principles, and the standards, guidelines and best practices established by governing bodies.

Study method and assessment structure

The CIMA qualifications in Islamic finance are all self-study, distance learning courses, which allow you to progress at your own pace. Each qualification includes one year access to our online learning portal, and you must complete within that time, unlimited exam attempts and online support materials.

There are no entry criteria for these certificates.

Our qualifications

There are five qualifications available:

CIMA Certificate in Islamic Commercial Law

  • introduction to Islamic commercial law as it relates to Islamic finance

  • the sources of the Islamic commercial law including the Qur’an and the traditions of the Prophet Mohammad

  • the methodologies used to solve modern problems in Islamic finance

  • shari’ah compliance and the importance of the shari’ah standards.

CIMA Certificate in Islamic Banking & Takaful

  • the developments which have taken place with regard to Islamic financial institutions and systems

  • the main source of funds available to banks and how these sources are rewarded

  • the various products developed by Islamic banks for their customers

  • the products and services offered under takaful and issues relating to underwriting, deficits, surpluses and retakaful.

CIMA Certificate in Islamic Capital Markets & Instruments

  • the differences between conventional and Islamic capital markets

  • the primary and secondary capital markets

  • regulation within the Islamic capital market

  • screening processes used in accepting/ rejecting shari’ah compliant products.

CIMA Certificate in Accounting for Islamic Financial Institutions

  • the reporting framework and standards of Islamic financial institutions

  • the analysis and classification of Islamic funding and financing transactions

  • how transactions adopting different contracts of financing are reported in the Islamic financial statements

  • financial accountability and shari’ah compliance of Islamic financial institutions.

CIMA Diploma in Islamic finance (CDIF) – made up of all 4 certificates

Each certificate includes comprehensive online study resources, and you will receive an e-Certificate and digital badge upon successful completion.

Click here to purchase any of our certificates in Islamic finance on the CGMA store.

If you are considering purchasing all four certificates, we recommend you enrol onto the CIMA Diploma in Islamic finance, which will work out less than purchasing all four certificates individually. However, if you decide to purchase all four certificates separately, upon successful completion of the fourth certificate, you will be eligible for the award of the CIMA Diploma in Islamic finance.

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