Certified Islamic Social Finance Specialist

It is for staff of zakah and waqf institutions, charitable foundations, microfinance and social finance programmes in Islamic banks, and Shari'ah reviewers. It covers zakah under AAOIFI Shari'ah Standard No. 35 (conditions, nisab, rates, the zakah of companies and institutions, and recipients), waqf under Shari'ah Standard No. 60 (founder, endowed assets, deed, kinds, management and investment), interest-free loans (qard) and their limits, and waqf governance under AAOIFI Governance Standard No. 13: the Nazir, audit committee, Shari'ah supervision, internal and external audit, investment policy and disclosure.

How it works: study the linked courses Islamic Banking, Capital Markets, Takaful and Social Finance and Governance of Sukuk, Waqf, Crowdfunding and Syndicated Financing, then sit a 40-question certification exam in 75 minutes. The pass mark is 70%, and the certificate is valid for three years.

This is an independent ifSPACE certification. It is free, it is not an AAOIFI qualification, and it is not accredited or endorsed by AAOIFI or any regulator.