The International Centre for Education in Islamic Education or INCEIF was set up by Bank Negara Malaysia (BNM) in March 2006 to serve as a catalyst in creating high calibre professionals for the global Islamic banking and finance industry.
As an international centre of educational excellence in Islamic finance, INCEIF will develop talents including professionals and specialists in Islamic finance who are much needed to sustain market competitiveness and meet future challenges in the Islamic financial industry.
Backed by a RM500 million endowment fund from BNM, INCEIF is committed to the following agenda:
• Develop superior talent for the global Islamic finance industry;
• Offer internationally recognised certification and post-graduate programmes;
• Build and strengthen the pool of talented researchers and educators in Islamic finance; and
• Facilitate the coordination, planning and implementation of human capital initiatives for the Islamic finance industry in Malaysia.
INCEIF is supported by a highly qualified teaching faculty which comprises renowned international and local scholars in the area of Shariah and finance as well as Islamic financial services industry experts. The education philosophy of INCEIF is holistic, in that it balances academic learning with practical industry experience.
INCEIF offers professional certification programmes in Islamic finance by adopting unique andragogical approaches using a combination of online and onsite learning including attending seminars and tutorials. This means easy access to learning materials and tutorial guidance online, as well as able to interact with INCEIF’s teaching staff and other candidates via an active student support online network.
INCEIF will also forge strategic alliances with domestic and foreign academic institutions as well as the central banks of the world to offer the combined strength, resources and expertise for global collaboration in training and education in Islamic finance.
The Certified Islamic Finance Professional (CIFP) is INCEIF’s flagship programme which aims to produce qualified Islamic finance practitioners. CIFP consists of three parts
Part I: Building knowledge through basic knowledge in Islamic finance from theory and ethics to wealth planning and management. Upon the successful completion of examinations, project papers and coursework, candidates are given the Associate Member status.
Part II: Building skills where candidates will obtain the required skills handling operational issues and Islamic financial transactions. Candidates have the option of specialising in specific areas of Islamic banking and/ or takaful. To be conferred as Proficient Members, candidates have to pass examinations and complete coursework.
Part III: Building competency and experience through articleship programmes, including a six month internship at Islamic financial institutions. Candidates will undergo practical training under the direct supervision of a practitioner and upon completion of the articleship will be conferred the CIFP Practicing Member status.
The CIFP programme can be completed between a minimum of one and a half years and a maximum of six and a half years.
In addition to CIFP, INCEIF will also offer specialised post-graduate programmes, namely the Masters and Ph.D. on highly specialised fields of Islamic finance.