Certified Murabahah Specialist

It is for financing officers, product developers, operations staff and Shari'ah reviewers who work with murabahah to the purchase orderer and related commodity transactions. It covers each stage of a murabahah under AAOIFI Shari'ah Standard No. 8: the promise and security deposit, acquisition and agency, possession and risk, cost and profit, and security, late payment and early settlement. It also covers tawarruq (SS 30), including the debate over organised tawarruq, commodities in organised markets (SS 20), and the foundations a murabahah rests on: riba and currencies (SS 1), gold (SS 57), gharar (SS 31), combination of contracts (SS 25), possession (SS 18), institutional fatwa (SS 29) and arbitration (SS 32).

How it works: study the linked courses Trade-Based Islamic Financing and Shari'ah Foundations of Islamic Transactions, 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.