Académique Documents
Professionnel Documents
Culture Documents
to le
g
i n l ab
r n ai
ea av
el w
no
IFQ
ISL A MI C FINAN CE QU ALIFI C ATI O N
Key Features
Raed H. Charafeddine
First Vice-Governor, Banque du Liban
Chairman, Advisory Council for Islamic Finance
8 cisi.org/ifq
8 www.esa.edu.lb
Summary Syllabus
Element 1: The Basis of Islamic Banking and Finance
The principles and concepts which underpin Islam; the place of
banking and finance within Islam; the sources and
interpretation of Islamic law.
Element 2: An Introduction to Islamic Banking
and Finance
The development of the Islamic finance and banking industry;
the main components of the Islamic banking industry and its
operating structures.
Element 3: Islamic Law of Contracts
Principles of Islamic business including the avoidance of riba
and gharar; the concept of wad (promise); the elements of a
valid contract; the different types of contract; the purchase and
sale of currencies.
Element 4: Financial Techniques Applied by
Islamic Banks
The nature of Islamic current accounts; the nature of the major
contracts mudaraba, musharaka, murabaha, ijara, salam,
istisn'a; the use of letters of credit and guarantees in Islamic
finance contracts.
Element 5: Financial Statements for Islamic Banks
The framework of International Financial Reporting Standards;
contents of the main financial statements; the need for specific
Islamic accounting standards; the role of AAOIFI and IFRS.
Assessment Structure
The IFQ is a two-hour, 100 multiple-choice question
exam.
The pass mark is 70%.
Preparation, using the accompanying workbook,
requires approximately 130 hours of personal study
time.
8 cisi.org/ifq
* ifq@cisi.org
For the first time the CISI has produced an elearning tool to
accompany its IFQ workbook. It is an engaging online
revision aid to be used in conjunction with the workbook. It
covers the key, salient points of the syllabus and contains:
Prices
3 graphics
3 interactive exercises
3 multiple choice revision questions
3 useful website links
CISI Membership
I would strongly recommend this qualification to staff working and seeking to work in the Islamic
finance industry. This prestigious, global qualification offers essential knowledge of the general principles of
shariaa with respect to its application to Islamic banking and finance. The IFQ is a key qualification in this
growing market.
Getting started
For further information, email
or telephone
8 www.esa.edu.lb
ifq@cisi.org
ifq@esa.edu.lb
+44 (0)20 7645 0680
+961 1 373 373
cisi.or g/ifq
* ifq@esa.edu.lb
China Office
8 cisi.org
India Office
Liaison Office
407, Raheja Chambers,
Nariman Point,
Mumbai 400021, India
Singapore Office
No. 22 Malacca Street
04-01, Royal Brothers Building
Raffles Place,
Singapore 048980
UAE Office
8 www.esa.edu.lb
ISLAMIC FINANCE QUALIFICATION
11/2009
8 cisi.org/ifq
8 www.esa.edu.lb