Islamic Finance Qualification
The IFQ is a ground-breaking qualification that covers Islamic finance from both a technical and Sharia’a perspective, providing the first international benchmark in the area of Islamic finance. Aimed at new and existing investment professionals specialising in Sharia’a compliant finance, trade, investment and insurance, the IFQ will primarily be a practical Islamic banking qualification, but will also cover the legal aspects of Sharia’a which underpins all Islamic contracts.
Many experts are estimating the growth of the Islamic Finance industry at more than 20% per annum with some experts predicting that in the future, the Islamic Finance industry could become a major competitor to the conventional finance industry. Experts expect to see Islamic Finance spread beyond Muslim countries - as seen in Europe where it has already made considerable headway in the UK, Germany and Switzerland.
"Ever since its launch, the IFQ has gained an outstanding reputation within the financial community. The qualification addressed the need for a new generation of professionals and regulators who are knowledgeable about Islamic finance and has therefore contributed in setting the first step towards the proper development of the Islamic Financial Industry.”
Dr Ahmad Jachi
Chairman, Advisory Council for Islamic Finance
First Vice Governer, Banque du Liban
IFQ Factsheet
Aims of the Qualification
· To provide an international benchmark qualification that will equip candidates with a practical understanding of Islamic finance, including Sukuk, Takaful, Mudaraba, Musharaka and Murabaha – and much more.
· To provide professional recognition for employees and customers, which will demonstrate that successful candidates have undergone rigorous training and sat a professional examination to reach their level of competence
· To provide candidates with an understanding of the influence of Sharia’a in a business context and prepare them to hold key positions in the Islamic finance and Takaful (Islamic Insurance) industries.
The
Syllabus for the IFQ has been developed by a group of technical experts and high level practitioners known as the Advisory Council for Islamic Finance (ACIF). The
workbook (candidate learning materials) has been written by a group of senior practitioners and is available now.
Training
For information on training for the IFQ please refer to the
Accredited Training Providers section of the SII website
SII & ESA Partnership
The Securities & Investment Institute (SII) and the Lebanese Ecole Supérieure des Affaires (ESA),
formally launched their specialist Islamic Finance Qualification (IFQ) - the first global benchmark examination covering Islamic Finance.
The IFQ was was initiated by the Central Bank of Lebanon (Banque du Liban) and is overseen by the Advisory Council for Islamic Finance (ACIF), a group of technical experts convened by SII in collaboration with ESA.
Information in French and Arabic for candidates in the Gulf and Middle East can be found in the
Finance Islamique section of ESA's website. Candidates in Lebanon are recommended to sit their examination at the SII CBT Testing Centre at ESA which handles registration for the qualification and booking for the examinations in Lebanon directly. Please contact Sandra Abboud by email: abboud.s@esa.edu.lb for details.
Training institutions wishing to become accredited by the IFQ Institute to run courses for candidates studying for the IFQ can download the
Application Form and
Guidelines for UK ATP status or for overseas training providers, the
Guidelines for International ATP status, here.
