Intermediate Qualification in Islamic Finance (IQIF) : Banking

Designed to cater the needs of professionals and individuals, this distinctive qualification focuses on the area of Islamic banking. At this level, participants will concentrate on specialized modules related to Islamic banking with an emphasis on the application of concepts to practical aspects of Islamic banking operations. IQIF (Banking) comprises of ten (10) modules, which is intended to equip the participants with the relevant knowledge on the whole spectrum of Islamic banking as well as to develop necessary skills and expertise to deal with the related issues and challenges associated with Islamic banking.

Learning Outcomes

Ability and competency to:

  1. Identify and categorize the type of Islamic consumer and business financing products and applicable Shariah contracts in structuring and monitoring the facilities
  2. Demonstrate comprehension on the theory and principles of deposit and investment, and to appreciate its importance to financial institutions and economy
  3. Apply the principles of credit assessment and processes
  4. Evaluate Islamic documentations including its legal procedures
  5. Operate various Islamic Trade Finance products and its operational structure from Islamic perspective
  6. Demonstrate the importance of treasury including its operation, function and Shariah contracts involved
  7. Illustrate the importance of customer relationship management in banking environment context
  8. Apply the terms, concepts and theories related to marketing Islamic financial services in line with Shariah values

Mode of Learning

  1. Face-to-face
  2. Online (e-learning)

Online Access

12 months (1 year)


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M1: Islamic Consumer Financing Products and Services

This module highlights the financing solution granted to retail clients and their requirements. This module also illustrates types of Islamic consumer financing facilities and its operational structure as well as emphasises the understanding of Shariah contracts.

M2: Islamic Business Financing Products and Services

This module highlights the financing solution granted to business entities and its requirements. This module also illustrates the types of Islamic business financing facilities and its operational structure as well as emphasizes the understanding of Shariah contracts.

M3: Credit Assessment and Analytical Techniques

This module discusses on credit assessment and analytical techniques practiced in the market. It covers principles of credit and financing, correlation between risk and risk management, credit scores, regulatory and governance issues.

M4: Legal Documentation for Islamic Banking Financing Facilities

This module illustrates the application of Shariah standards for Islamic financing products. This module will also discuss on the legal issues andcommon mistakes in drafting Islamic legal documentation, as well as other related issues in Islamic financing.

M5: Islamic Financing Facilities Monitoring and Management  

This module is intended to upscale participants with comprehensive knowledge on monitoring and management of Islamic financing facilities. In addition to that, this module is designed to sharpen skills to carry out systematic assessment of non-performing financing for close monitoring, propose viable options to management in handling problem accounts and provide strategies for recovery.

M6: Islamic Deposit & Investment Account

This module is designed to provide participants with in-depth understanding of Islamic banking operation, particularly on deposits and investment account. Participants will be exposed to the concept, product structures and applications of Islamic deposit and investment account.

M7: Islamic Trade Financing

This module provides an overview to the various Shariah contracts involved in relation to Islamic trade finance. Participants will also be exposed to several types of Islamic trade finance facilities available in the market and its operational aspect.

M8: Islamic Treasury Products

This module provides an insight into the operational aspect of Islamic treasury activities. Throughout the module, participants will examine the structure and process of each product and the distinct features of the Islamic treasury products in the market. Shariah issues on the products will also be deliberated and discuss with the participants.

M9: Marketing of Islamic Banking Products

This module illustrates the salient features of current marketing landscape in the banking environment. It also discusses new channel and trends in marketing banking products and services.

M10: Customer Relationship Management

This module highlights the salient features of customer relationship management. It will also explore the importance of service standards in Islamic financial services and the prominence of efficient and effective strategy for customer retention and loyalty.

The Associate Qualification in Islamic Finance (AQIF) certificate holder or equivalent is a prerequisite for a participant sitting for the IQIF assessment.

Method of Examination:

One Hundred (100) Multiple Choice Questions

Two and half (2 ½) hours examination

Passing mark: 60%