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Professional certificationFree

ifSPACE Associate in Islamic Finance

An independent entry-level certification in the principles, prohibitions and main contracts of Islamic finance.

2 courses

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No expiry

Certifications are issued independently by Islamic Finance Space (ifSPACE). They are not accredited by AAOIFI or by any regulator unless a program page states otherwise.
Free certification. The certification exam and certificate rules open with the exam system.

It is for newcomers to Islamic finance: students, new bank and takaful staff, and professionals moving from conventional finance. It covers the sources and objectives of Shari'ah, the elements of a valid contract, the prohibitions of riba, gharar and maysir, and the main sale, lease, partnership and agency contracts, with Islamic banking, sukuk, takaful and Shari'ah governance. It also introduces the AAOIFI Shari'ah standards on currency trading (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 Fundamentals of Islamic Finance 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.

Courses in this program

  1. 1.
    Fundamentals of Islamic Finance

    Introductory · 8 hours · 21 lessons

    Required
  2. 2.
    Shari'ah Foundations of Islamic Transactions

    Intermediate · 9 hours · 17 lessons

    Required