The certificate has four compulsory study modules; each module is independent and has a study guide.

1. 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.
   • The historic contracts involved in Islamic commercial law.
   • Shari’ah compliance and the importance of the Shari’ah standards.
     
2. Islamic Banking and Takaful – Products and Services
   
   • 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.
   • The financial and operational risks common to both the banking and insurance sectors.
     
3. Islamic Capital Markets and 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.
     
4. 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 statement.
   • Financial accountability and Shari’ah compliance of Islamic financial institutions.

Study Duration

It will take between 2-6 months to reach a stage where students can sit the entire final exam, depending on prior knowledge and experience.
The CIMA Certificate in Islamic Finance is a self study, distance learning qualification that allows students to progress at their own space.
You can enroll in training courses at Talal Abu-Ghazaleh Academies to help you pass the assessments.