Certified Takaful Specialist

It is for staff of takaful operators, bancassurance and product teams, and Shari'ah reviewers who work with takaful. It covers why conventional insurance raises Shari'ah concerns and how takaful meets the need for protection under AAOIFI Shari'ah Standard No. 26: donation-based contributions, the participants' fund, the operator's wakalah and mudarabah roles, costs, surplus, deficit and qard hasan, reserves, investment and family takaful. It also covers retakaful and the limited use of conventional reinsurance under Shari'ah Standard No. 41, and related rules on investing takaful funds (SS 21, 27 and 44).

How it works: study the linked course Islamic Banking, Capital Markets, Takaful and Social Finance, 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.