AAOIFI Certified Islamic Professional Accountant (CIPA) Preparatory Class 

The Certified Islamic Professional Accountant (CIPA) qualification is a qualification which is globally recognized and valued as the benchmark in Islamic Accounting. 

Enroll now to get register with AAOIFI and ready for the upcoming CIPA exams: 
June 2021,  December 2021

  • 35 hours of learning
  • Content rich power point slides and reading material
  • Mock tests to prepare you to pass the exams
  • Personalized assistance from instructors to ensure you master the material
  • ​Relevant case studies and practical examples to enhance learning and understanding.
  • Access to Mobile App & Digital Learning Platform, learning anytime from anywhere!
  • Price : $299  $199 for limited time only only  (Multiple payment options available including credit card )
  • Discount and Assistance with AAOIFI exam registration 
  • ​Language: English
  • ​Prerequisite: No prior knowledge required
About CIPA

Certified Islamic Professional Accountant (CIPA) is a professional specialized certification in Islamic accountancy offered by AAOIFI. It is designed to equip candidates with the requisite technical understanding and professional skills on accountancy and related fields (such as audit, risk management, governance, law, and tax) for international Islamic banks and financial institutions. The certification places greater emphasis on practical knowledge and real-world applications (and exercises) to deliver an enhanced and optimized learning experience.

To qualify for CIPA, candidates must fulfil the education and practice requirements (except when exempted in writing by AAOIFI).

Whether you are starting your career in Islamic finance, already have experience, or are contemplating a change of profession, the CIPA program will equip you with the knowledge, requisite technical understanding and professional skills on accountancy for international Islamic banks and financial institutions. CIPA will give you the confidence you need to develop yourself as a professional Islamic accountant.

What You Will Learn
  • Develop a solid foundation in the principles and practices of Islamic Finance; 
  • Demonstrate practical applications of financing contracts;
  • ​Understand the accounting concepts and framework;
  • Perform accounting for associates and subsidiaries; and
  • ​Understand disclosure requirements in AAOIFI Financial Accounting Standards for IFIs and their subsidiaries and associates.

The CIPA study covers four Papers covering:

  • Financial Accounting and Reporting (FAR)
  • Audit, Assurance and Ethics (AAE)
  • ​Business and Regulatory Environment (BRE)
  • Sharia Standards and Shariah Governance (SS&SG)
Why should you become an AAOIFI fellow? And how can you?

Presented by Mr. Farhan Noor, Head of Capacity Building at AAOIFI, A Step by step guide on becoming an Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Fellow, A must-read for all prospective examinees.

CIPA EXAM SCHEDULE

  •  June 2021 Exam Registration Deadline: 27th May 2021
  • December 2021 Exam Registration Deadline: 4th Nov 2021
CIPA Modules Details

Financial Accounting & Reporting (FAR)

  • ​Financial Accounting Framework
  • Murabaha
  • ​Salam and Istisna
  • ​Ijara and Ijara Muntahia Bittamleek
  • ​Musharaka and Mudaraba
  • ​Investment in Real Estate
  • ​Investments in Associate and Subsidiary
  • ​Investments in Securities
  • ​Investment Accounts
  • ​Investment Funds Accounting
  • ​Islamic Insurance
  • ​Zakah
  • ​Foreign Currency
  • ​Segment reporting

Audit, Assurance, and Ethics (AAE)

  •  Code of Ethics
  • ​Intro and Objectives of Audit
  • ​Internal Audit
  • ​Types of Assurance
  • ​Client Acceptance and Continuance
  • ​Audit Strategy and Planning
  • ​Risk Assessment
  • ​Audit Evidence
  • ​Using the work of an Expert
  • ​Other Audit Services
  • ​Audit Conclusion and Reporting

Business and Regulatory Environment (BRE)

  • ​Business Environment
  • ​Market Forces
  • ​Business Strategies
  • ​Marketing
  • ​Communication within an Organization
  • ​Forms and Types of Companies
  • ​Management and Administration of a Company
  • ​Sources of Funding and Management
  • ​Key Concepts of Law
  • ​Introduction to Tax
  • ​Introduction to Risks within Financial Institutions
  • ​Credit Risk
  • ​Liquidity Risk
  • ​Market Risk
  • ​Operational and Other Risks
  • ​Capital Adequacy

Shari’ah Standards & Shari’ah Governance (SS & SG)

  •  Shari’ah Fundamentals
  • ​Trade-based Contracts
  • ​Equity-based Contracts
  • ​Ijara and Ijarah Muntahia Bittamleek
  • ​Investment Sukuk
  • ​Islamic Equity Market
  • ​Takaful
  • ​Common Banking Services and other Solutions
  • ​Corporate and Shari’ah Governance
  • ​Shari’ah Supervisory Board
  • ​Internal Shari’ah Audit/Review
  • ​Independent External shariah Audit
  • ​CSR
Who should attend?
  • Islamic Banking Staff
  • Takaful Staff
  • Islamic Capital Markets Staff including Sukuk and Islamic Asset Managers
  • Conventional Bankers
  • Financial Advisers and Brokers
  • Investment and Wealth Management Professionals
  • Relationship Managers
  • Lawyers and accountants dealing with Islamic banks and financial institutions
  • Other professionals with exposure to the Islamic finance industry

Anyone with an interest in or looking for a career in Islamic Finance.

Why TAIF?

TAIF is a registered Training partner for AAOIFI . We are also an approved ‘Examination Registration Center ‘ for AAOIFI Fellowship programs. You may also secure any of AAOIFI publications etc through us at a discounted price. You may click the button below if you would like to register with AAOIFI through us .

Instructor: Mufti Yousuf Sultan
Yousuf Sultan is Certified Shariah Advisor and Auditor (CSAA) from Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain and an AAOIFI Master Trainer. He holds an MSc degree in Islamic Finance from INCEIF, Malaysia. Earlier, he graduated as a Mufti in Shari’ah and Islamic Jurisprudence. He is also a Registered Shariah Adviser with the Securities Commission of Malaysia.

Yousuf has long professional experience with training and advisory on Islamic Finance, with professional exposure to Islamic Fintech. Yousuf brings his expertise in Shari’ah, technology, operations and leadership at Ethis to head Group Shariah & Governance. Ethis pioneered several award-winning Islamic Crowdfunding platforms for investment and charity in Indonesia and Malaysia.

Yousuf co-founded IFA Consultancy in Bangladesh, a pioneer institution promoting Islamic Finance to the mass through training, workshops, seminars, and consultancy.

Yousuf also advises institutions in several countries including Malaysia, Indonesia, South Africa, UAE & Bangladesh. He is also a member of two Working Groups for Governance Standard Committee at AAOIFI. He holds professional membership with Association of Shariah Advisors in Islamic Finance (ASAS) and Chartered Institute of Islamic Finance Professionals (CIIF).

Yousuf has been invited to speak in events organized by institutions and universities including the Central Bank of Malaysia, Securities Commission of Malaysia, AAOIFI, INCEIF, the World Bank, Cagamas, ISRA, ASAS, MATA etc.

Yousuf conducted various researches and reports on Islamic Finance; of which the most notable one is titled as “Responsible Finance - Ethical and Islamic Finance: Meeting the Global Agenda” - published by RFI Foundation and IFSB, co-authored with Tan Sri Dr Zeti, the former Governor of the Central Bank of Malaysia.

Instructor: Mezbah Uddin Ahmed
Mezbah Uddin Ahmed is an AAOIFI Master Trainer. He is Islamic finance researcher at International Shari’ah Research Academy for Islamic Finance (ISRA), Malaysia. He is also actively involved in various Shariah audit, advisory and consultancy projects at ISRA Consulting. His notable engagements include development of Islamic finance regulatory framework for Republic of Tajikistan under an Islamic Development Bank (IDB) technical assistance program and development of sukuk framework for Islamic Republic of Afghanistan under their Ministry of Finance.

Mezbah is a member of AAOIFI working committees. He was a Fellow of the Association of Chartered Certified Accountants (FCCA) and an AAOIFI Certified Islamic Professional Accountant (CIPA) as well as Certified Shariah Adviser and Auditor (CSAA). 

He has obtained a BSc in Applied Accounting from Oxford Brookes University, UK and MSc in Islamic Banking and Finance (MIBF) from IIUM Institute of Islamic Banking and Finance (IIiBF), Malaysia.  

Mezbah writes regularly on contemporary issues related to Islamic finance. He has contributed as an editor and writer of the Islamic Financial System: Principles & Operations (2nd edition) textbook, which is one of ISRA’s flagship publications and a compulsory read in various universities. He has also published in several Scopus indexed journals, newspapers, magazines and book chapters.

Before joining ISRA, Mezbah worked in audit and assurance with a Big-4 affiliate accountancy services firm in Bangladesh. He also has several years of experience providing lectures of ACCA and ICAEW courses. 

Instructor: Safina Shahid
Safina Shahid is a Certified Islamic Professional Accountant (CIPA) and Certified Shariah Advisor and Auditor (CSAA) from Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain. She is also a qualified Chartered Accountant from Institute of Chartered Accountant of Pakistan (ICAP) and Certified Internal Auditor from Institute of Internal Auditors (IIA),  

She has a professional experience of shariah audits, Islamic financial advisory, internal audit and internal controls over 13 years with 2 big4 audit firms, PwC Karachi and EY Karachi, and 3 of the largest banks in Pakistan in their genre, Meezan Bank (largest Islamic bank), Habib Bank (largest conventional bank) and Standard Chartered Bank (largest international bank in Pakistan).

She has been associated with AAOIFI as a trainer/presenter on various topics including Shariah Audits and Shariah Governance Framework. She is a public speaker accredited by Toastmasters International. 
Instructor: Muhammad Shahzad Hussain
Muhammad Shahzad Hussain is a Qualified Chartered Accountant (FCA) from Institute of Chartered Accountants of Pakistan (ICAP), in addition to being a qualified Certified Information System Auditor (CISA) and a Certified Islamic Professional Accountant (CIPA) from AAOIFI.
 
Shahzad has more than twenty years’ experience of working with Big 4 firms - including PwC, EY and Deloitte in Pakistan, UAE and Oman at various managerial positions. 
 
In the capacity of Senior Manager, Islamic Financial Services Group (IFSG) with EY, Shahzad led various engagements locally as well as globally. He has also assisted AAOIFI, BIBF and IFAAS in his individual capacity, on various assignments.  
 
He has been associated with Center of Islamic Economics (CIE) as a visiting faculty and also conducted training sessions on behalf of the Central Bank- State Bank of Pakistan (NIBAF) for Islamic Banking professionals.
Pricing

$299 USD*,$199.00*  
* Billed as 750AED for limited time only
  • Includes access to recorded classes (self-paced study)
  • Unlimited review of course recordings and supplementary material for 1 year
  • Assignment review, grading, and feedback
  • Hands-on interaction with instructors
  • Access to mock exams
  • Prestigious certificate of completion
  • The course does not include the exam registration fee for certification with AAOIFI 
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