Securities & Markets

CISI Islamic Finance Qualification (UK)

Master Islamic banking, finance, and Sharia-compliant investment products for the global IFQ certification.

500 Practice Questions Detailed Study Notes Realistic Mock Exams
CISI Islamic Finance Qualification
Official CISI Partner CISI Academy

Updated for 2026. 100% matching with the latest official workbook revisions.

Unlimited Training
Self-Paced Learning
Certificate of Completion

AI Audio Summaries New

Listen to course modules on the go. Perfect for studying while driving or commuting.

🎧 Audio

* This is a chapter sample. All audio is available in the full version.

CISI Islamic Finance Qualification (IFQ) Exam Preparation

Prepare for the CISI Islamic Finance Qualification with a structured study system covering both the technical and Shariah dimensions of Islamic finance. The course turns a broad nine-module syllabus into focused explanations, active-recall tools, and realistic exam practice.

Complete Islamic Finance Study Toolkit

Move beyond passive workbook reading with detailed chapter summaries, audio revision, rapid-recall flashcards, a high-yield cheat sheet, and five mock-exam modes. The AI tutor is grounded in the course material, helping you compare contracts, understand Shariah principles, and clarify complex structures whenever you need support.

IFQ Syllabus Coverage

The course covers the foundations of Islamic banking, Islamic commercial law, financial institutions, Shariah-compliant contracts, asset management, Sukuk, Takaful, and corporate governance. Each module is organised around the distinctions and applications candidates need to understand for the exam.

Lifetime Access. No Time Limits. Study at your own pace and revisit every learning tool as often as needed.

Key Benefits

AI Audio Summaries New

Review Islamic finance concepts wherever you study best.

  • Chapter-based audio revision.
  • Ideal for commutes and short study sessions.
  • Reinforces terminology and contract distinctions.
Listen to a sample

Realistic Mock Exam Practice

Build confidence with repeated, exam-focused practice.

  • Five practice modes for full exams and targeted revision.
  • Detailed explanations for every answer.
  • Performance insights highlight weaker syllabus areas.

AI-Powered Study Tutor

Ask questions grounded in the IFQ course material.

  • Compare similar Islamic contracts in plain language.
  • Clarify Shariah terminology and practical applications.
  • Available whenever your study schedule allows.

Rapid-Recall Flashcards

Strengthen recall of definitions, structures, and rules.

  • Covers all nine syllabus modules.
  • Useful for short, repeated revision sessions.
  • Focuses on common distinctions and examinable concepts.

Detailed Chapter Summaries

Turn dense source material into structured exam revision.

  • Key concepts and examinable areas by chapter.
  • Common pitfalls and potential exam traps.
  • Important numerical values and additional exam notes.

High-Yield IFQ Cheat Sheet

Revisit essential principles just before practice or exam day.

  • Core Shariah prohibitions and sources.
  • Contract structures and party responsibilities.
  • Sukuk, Takaful, screening, and governance distinctions.
New course feature

Learn first. Then prove you’re ready.

Use the same question bank in two different ways: build understanding with instant feedback, then switch to a realistic simulation when you are ready.

Study Mode

Instant feedback & explanations

Choose an answer, see immediately whether it is right or wrong, and read the explanation before moving on.

  • Feedback after every choice
  • The correct answer shown clearly
  • A concise explanation while it matters
Exam Mode

Realistic exam simulation

Work against the official-style timer without revealing answers, then review your score and every explanation after submission.

  • Timer mirrors the exam duration
  • Answers stay hidden during the attempt
  • Score and explanations after submission

Syllabus

Module 1: The Basis of Islamic Banking and Finance 2% syllabus weight

🎧 Audio

Establishes the ethical and jurisprudential foundations of Islamic finance and how Shariah governs financial activity.

  • Islamic commercial ethics and responsible stewardship.
  • Primary and secondary sources of Shariah.
  • Riba, Gharar, Qimar and permissible wealth creation.
  • Schools of jurisprudence and Shariah Supervisory Boards.

Module 2: An Introduction to Islamic Banking and Finance 3% syllabus weight

Explains the development, operating models, supervision and standard-setting framework of the Islamic finance industry.

  • Development of modern Islamic banking and global markets.
  • Full Islamic banks, windows, branches and subsidiaries.
  • Roles of AAOIFI, IFSB, IIFM, IIRA and CIBAFI.
  • Shariah governance, fund segregation and income purification.

Module 3: Islamic Principles of Exchange 13% syllabus weight

Introduces the legal principles that determine whether Islamic commercial transactions and contracts are valid.

  • Fiqh al-Muamalat and the principle of permissibility.
  • Offer, acceptance, capacity and subject matter.
  • Ownership, possession, liability and entitlement to profit.
  • Rules governing Ribawi commodities and contractual uncertainty.

Module 4: Basic Contracts and their Treatment 15% syllabus weight

Covers the foundational sale, lease and benevolent-financing contracts used to structure Shariah-compliant transactions.

  • Murabaha and deferred-payment sales.
  • Ijara leasing and ownership responsibilities.
  • Salam and Istisna forward-financing structures.
  • Qard Hasan, security, guarantees and agency arrangements.

Module 5: Financial Contracts and Techniques Applied by Islamic Banks 25% syllabus weight

Applies Islamic contracts to deposit-taking, financing, trade, home purchase and other practical banking needs.

  • Mudaraba profit-sharing and partner responsibilities.
  • Musharaka and diminishing partnership structures.
  • Trade and asset finance using Murabaha, Ijara, Salam and Istisna.
  • Liquidity management, risk allocation and Shariah compliance.

Module 6: Islamic Asset Management 12% syllabus weight

Examines how investment portfolios and funds are structured, screened and managed in accordance with Shariah.

  • Industry and financial-ratio screening.
  • Purification and treatment of non-compliant income.
  • Mudaraba and Wakala fund-management structures.
  • Islamic funds, indices, ETFs, real estate and alternative assets.

Module 7: Sukuk Market 11% syllabus weight

Explores Sukuk as asset-linked capital-market instruments, including their parties, structures, risks and tradability.

  • Sukuk compared with conventional bonds.
  • Asset-backed versus asset-based structures.
  • SPVs, ownership, recourse and purchase undertakings.
  • Ijara, Musharaka, Mudaraba, Wakala and other Sukuk types.

Module 8: Islamic Insurance – Takaful 9% syllabus weight

Explains the mutual risk-sharing basis of Takaful and how its operating models differ from conventional insurance.

  • Tabarru and cooperative risk-sharing principles.
  • Mudaraba, Wakala and hybrid Takaful models.
  • Participant and shareholder funds, surplus and deficits.
  • Family Takaful, general Takaful and Retakaful.

Module 9: Islamic Corporate Governance 10% syllabus weight

Covers the governance structures that provide accountability, independent Shariah oversight and stakeholder protection.

  • Corporate governance principles in Islamic institutions.
  • Shariah Supervisory Board roles and independence.
  • Shariah review, audit, reporting and compliance processes.
  • AAOIFI and IFSB governance standards and stakeholder interests.

Free Topic Quiz & Key Practice Questions

Try 15 questions from Financial Contracts Used by Islamic Banks

This preview shows one part of the course. Try this short topic quiz and unlock the full course for complete mock exams and full coverage.

Financial Contracts Used by Islamic Banks

Where Arboon is used in a sales contract, what happens to the down payment if the buyer decides not to take the goods by the stipulated time?

1 / 15

Who Is This For?

Islamic banking and finance professionals
Shariah compliance and governance teams
Investment, asset-management and capital-markets professionals
Conventional finance professionals moving into Islamic finance
Students pursuing a recognised foundation in Islamic finance
Professionals preparing for the CISI IFQ exam

Career Outlook & Value

Target Roles
Islamic Finance ExecutiveSharia Compliance OfficerInvestment Analyst
Salary Expectation
$70,000 - $140,000+

"Islamic finance is a rapidly growing sector. The IFQ demonstrates robust knowledge of Sharia principles and their application in modern financial products."

Frequently Asked Questions

It covers nine modules spanning Islamic banking foundations, commercial law, financial institutions, contracts used by Islamic banks, asset management, Sukuk, Takaful, and corporate governance.

The course is configured for a 100-question multiple-choice exam with a 120-minute duration and a 70% pass mark.

Yes. The course includes a large practice-question bank with unlimited mock-exam retakes and multiple practice modes, with explanations provided for the answers.

Yes. The summaries, flashcards, cheat sheet, and AI tutor explain important terms such as Riba, Gharar, Mudaraba, Musharaka, Murabaha, Ijara, Sukuk, and Takaful in context.

Yes. It begins with the sources and principles of Shariah, then applies them to commercial contracts, banking techniques, investment funds, Sukuk structures, Takaful models, and governance.

Yes. The course includes mobile-friendly study tools and audio summaries designed for flexible revision, including commuting and short study sessions.

You receive lifetime access with no recurring subscription or fixed study deadline.

It is suitable for banking, compliance, investment, legal, accounting, and financial-services professionals, as well as candidates seeking a structured introduction to Islamic finance.

Yes! Test your knowledge and review detailed explanations with the free CISI Islamic Finance Qualification Topic Quiz below. It contains 15 questions from one named syllabus topic and is not a full mock exam or overall readiness assessment.

Student Reviews

5.0
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Based on 13 reviews
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Recent Reviews

D
David R.
· Aug 3, 2026
CISI Academy learner feedback

Very realistic questions

The questions are very similar to the real test. I was worried about the time limit, but practicing with these mocks helped me manage my pace. Highly recommended!

L
Layla H.
· Aug 3, 2026
CISI Academy learner feedback

Passed on my first attempt

The material covers the core topics exceptionally well. It's much easier to digest than the dry official workbook. Used it daily on my commute and passed my exam.

O
Omar T.
· Aug 4, 2026
CISI Academy learner feedback

Best study tool

This platform completely changed how I study. The chapter summaries are brilliant for last-minute review, and the mobile dashboard works flawlessly.

N
Nasser Y.
· Jun 15, 2026
CISI Academy learner feedback

Student review

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Sarah M.
· Jun 14, 2026
CISI Academy learner feedback

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Zara S.
· Jun 10, 2026
CISI Academy learner feedback

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CISI Islamic Finance Qualification
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