Ethica offers two certificates: Certified Islamic Finance Executive™ (CIFE™) and Advanced CIFE in Islamic Accounting™ (ACIFE™). The CIFE™ trains you in the core Islamic banking products including Musharakah, Murabaha, Mudarabah, Ijarah, Salam, Istisna, Sukuk, Liquidity and Risk Management, while the ACIFE™ focuses purely on the accounting treatment of these products in detail.
The ACIFE™ is Ethica's 4-month advanced certification program in Islamic accounting.
If you are an experienced Islamic banker or have completed an AAOIFI-compliant foundational course from another institute you may pursue Ethica's Advanced CIFE in Islamic Accounting™ (ACIFE™). However, for those who do not possess a working knowledge of the core Islamic banking products covered in the CIFE™ certification, we recommend doing the CIFE™ first.
After self-studying the 'Islamic Accounting Standards' track (9 modules) you appear for the ACIFE™ examination online:
- Understanding Islamic Accounting I
- Understanding Islamic Accounting II
- Understanding Islamic Accounting III
- Understanding Islamic Accounting IV
- Understanding Islamic Accounting V
- Understanding Islamic Accounting VI
- Understanding Islamic Accounting VII
- Understanding Islamic Accounting VIII
- Understanding Islamic Accounting IX
The program fee is $1,495 (click here to learn about subsidized country prices), paid online (Visa or Mastercard) or by wire transfer.
When you sign up you get:
- 4 months access to the ACIFE™ self-study videos
- Masterclass with an Islamic accounting expert (webinar recordings)
- ACIFE™ examination
- Framed ACIFE™ certificate couriered to your home or office
We know accounting isn't easy. That's why we had a chartered accountant with practical experience auditing over 1,000 Islamic banking transactions conduct "Accounting Masterclass" webinars. These webinar recordings help consolidate concepts covered in the 9 modules and add a new dimension to your learning experience. Our expert trainer not only covers tough questions but also discusses case studies, walks through exercises, screen shares balance sheets and other ancillary material for that extra edge.
How does the ACIFE™ exam work?
The ACIFE™ examination is a 150 minute (2.5 hour) exam of 120 multiple choice questions. The pass mark is 60%.
What happens if I fail?
If you do not pass the first time, you pay $300 for the re-attempt.