An Islamic finance qualification has been launched by the Lord Mayor of the City of London and developed by the Securities & Investment Institute.
The qualification – developed by the SII and the Ecole Superieure des Affaires (ESA) in the Middle East – will be the first global benchmark examination covering Islamic finance from both a technical product knowledge and a Sharia’a aspect.
The exam will be available to candidates via computer based testing with the first public sitting to be held in November 2006 in London and Beirut.
It will be a two hour, 100 multiple choice question exam, which tests candidates’ knowledge of the general principles of Islamic finance, contracts, banking activities, financial statements, governance, investment funds, Sukuk and Takaful.
A syllabus and workbook has been developed by the Advisory Council for Islamic Finance (ACIF).
Ruth Martin, managing director of the SII, says: “SII has been delighted to combine its expertise in both examinations development and professional standards to partner with ESA in the Middle East in this innovative new qualification aimed at helping practitioners grasp the fundamentals of Islamic finance and banking.”
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