On 31 December 2020, we are withdrawing the French paper of our IFQ exam at level 3. Currently we offer this qualification in three languages. The French exam will be withdrawn, however those who have already passed will be unaffected by this change and retrospective recognition will remain. Candidates will still be able to sit the IFQ in English and in Arabic.
Islamic Finance Qualification
Level 3 Certificate in Islamic Finance (IFQ)
Why study the Islamic Finance Qualification?
The Islamic Finance Qualification (IFQ) expands upon knowledge gained from Fundamentals of Islamic Banking and Finance. It is a global qualification that covers Islamic finance from both a technical and a Shariah perspective, providing the first international benchmark in the area of Islamic finance.
It provides an understanding of the influence of Shariah in a business context and prepares candidates to hold key positions in the Islamic finance and takaful (Islamic insurance) industries.
Is the Islamic Finance Qualification right for me?
The qualification is appropriate for existing and new employees and those seeking a career in Islamic finance.
Fatima Nasser, Accounting Student
The CISI IFQ was the perfect qualification for me because I wanted something flexible yet comprehensive. I wanted to top off my professional accountancy qualification with a certified qualification in Islamic Finance. I think that Islamic Finance is a niche market and I was always interested in this field.
In Dubai where Islamic banking is growing at an incredible pace, I have found that this qualification is a huge advantage. I am very pleased with my decision to pursue the IFQ and CISI membership and I feel very optimistic regarding the new career opportunities that will be available to me with the IFQ certification and the membership.
I have a young baby and it was quite challenging to manage my time whilst self-studying. I found summarizing the notes from the text book and solving the questions at the back very helpful.
The qualification is achieved by successfully passing a multiple-choice question exam. Select a language below to view details for this exam.
The Islamic Finance Qualification is recognised by Ofqual as the Level 3 Certificate in Islamic Finance (IFQ) and as a level 3 qualification on the Regulated Qualifications Framework (RQF).
Total Qualification Time:
The total qualification time (TQT) for this qualification is 132 hours. TQT is an estimate of the number of hours that a typical candidate might reasonably spend in achieving the qualification. This will vary depending on your previous experience, and includes any formal study as well as self-study and assessment time.
Pass Mark / Pass Rate
The current pass rate for this exam is and the pass mark is . The exam grades are as follows:
Regulated Qualifications Framework
credits on the Regulated Qualifications Framework are awarded upon successfully passing this exam
Feedback and Appeals
For further details on how to give us your feedback and / or Appeal your result, please refer to our Exam Policies.
A CISI workbook is required to be purchased when booking the exam. This is to ensure there is one standard workbook from which all exam candidates can prepare. You can also choose to purchase CISI elearning to support your exam preparation.
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Accredited Training Partners
You can choose to complete formal training for our exams with a CISI Accredited Training Partner (ATP).
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Post Qualification Opportunities
Obtaining the Islamic Finance Qualification qualification entitles candidates to join the Institute at Associate level. As a member of the Institute, you will enjoy the recognition of being a professional in a world of increasing competition. The extensive continuing professional development (CPD) opportunities available through the CISI’s suite of membership benefits ensures financial services practitioners can maintain competence and meet the requirements of firms and the regulator.