Islamic Finance Qualification (IFQ)

The Lebanese Ecole Supérieure des Affaires (ESA) and the Securities & Investment Institute (SII) formally launched their specialist Islamic Finance Qualification (IFQ)

The IFQ is initiated by the Central Bank of Lebanon (Banque du Liban) and developed by an Advisory Council for Islamic Finance (ACIF), a group of technical experts convened by SII in collobration with ESA.

A full Factsheet and Syllabus for the IFQ is available on the IFQ qualification page in the Qualifications & Exams section of the SII website for candidates interested in registering for the IFQ. The Syllabus and Workbook (candidate learning materials) for the IFQ has been developed by the Advisory Council for Islamic Finance (ACIF).

The qualification mainly targets professionals already working in the conventional and Islamic finance industries but is also available for candidates who are not yet in employment. The qualification will assure regulators, employers and consumer that candidates and employers can perform their role according to Islamic banking (Sharia) requirements. The IFQ is designed to equip staff with an understanding of the influence of Sharia in a business context and prepare them to hold key positions in the Islamic finance and Takaful (Islamic insurance) industries.

The IFQ is being offered initially to pilot candidates in the UK and Lebanon in December and January 2007 and will be available globally by Computer Based Testing (CBT) from March 2007. Additional information for candidates is contained in the IFQ Information sheet which contains details of registration, dates, booking examinations, training, costs and study material.

Management of the IFQ will be managed through an IFQ Institute established by the partnership between the SII and Beirut based Ecole Supérieure des Affaires (ESA) . Training institutions wishing to become accredited by the IFQ Institute to run courses for candidates studying for the IFQ can download the Application Form and Guidelines for UK ATP status or for overseas training providers, the Guidelines for International ATP status, here.

Information in French and Arabic for candidates in the Gulf and Middle East can be found in the Finance Islamique section of ESA's website. Candidates in Lebanon are recommended to sit their examination at the SII CBT Testing Centre at ESA which handles registration for the qualification and booking for the examinations in Lebanon directly.

For further information, please contact Sandra Abboud by email: abboud.s@esa.edu.lb