Diploma in Islamic Finance

The Institute of Cost and Management Accountants of Pakistan’s Diploma in Islamic finance designed for result of growth of the Islamic banking and financial institutions / industry, there is a continuous critical need for banking / finance professionals, who are grounded in their understanding of the substance and form of Islamic Finance.
The Institute offers a complete diploma to fulfill needs of both Islamic and conventional financial institutions providing Islamic banking services and products. It has been designed to provide a professional qualification for commerce graduates, Banking Officers and above to initiate a career in the banking sector and to enhance knowledge. It emphasises on the practical aspects of Islamic banking and finance while providing a fair grounding of the jurisprudential foundations of Islamic banking. .

Aims & Objectives

It is designed to give individuals the following advantages:

  • Offers an intellectually stimulating environment in which students can develop & enhance their knowledge, understanding and analysis related to the field of Islamic banking and finance
  • Demonstrable expertise in the complex, fast-growing world of Islamic finance
  • Give you skills in Shari’ah compliance and the complexities of the contracts that underpin this compliance
  • Provides students with an understanding of the jurisprudential and theoretical fundamentals core to Islamic banking and finance
  • Develop the ability to apply the knowledge and skills they have acquired to the solution of practical problems in their professional banking careers

The qualification will be valuable for:

  • Individuals who have a general interest in Islamic finance
  • Newcomers to Islamic finance as well as finance professionals seeking accreditation in this vast field.
  • Individuals who want to embark on a career in Islamic finance or wish to develop their knowledge for their current job role in an Islamic financial institution
  • Financial Institutions who wish to develop their staff on the principles of Islamic finance that may lead to increase staff performance
Assessment Criteria

The candidates will be required to undertake a 1.5 hours computer based examination (CBE) of each level consist of 50 MCQs of 2 marks each.

Passing Percentage

Passing percentage for each level is 50%.

  • Module 1 : Islamic Commercial Jurisprudence
  • Module 2 : Islamic Banking Operations& Takaful
  • Module 3 : Islamic Treasury and Capital Markets
  • Module 4 : Accounting for Islamic Financial Institutions
  • Module 5 : Islamic Insurance
  • Module 6 : Business Banking and Trust Law
  • Module 7 : Islamic Commercial Law
  • Module 8 : Islamic Ethics
Duration of Diploma

The classes of each module will be delivered through lectures, discussions, and case studies. 48 hours are allocated for each module, divided into 12 class meetings of 4 hours a day.


The result will be displayed on the screen at the end of examination and a list of students will be posted on the notice board of respective centre.


Following two types of certificates will be issued to participants:

i- Certificate of Participation:

Upon attending at least 70% classes’ Certificate of Participation’ will be awarded to each participant and CPD hours will be granted according to the actual attendance of participants.

ii- Certificate of Diploma:

Upon completion diploma certificate will be awarded to each participant. However, certificate of participation will be given to each participant for attending 70% classes.

Fees for Re-attempt

Any participant who fails to qualify examination [CBE] may reappear in next schedule examination on payment of Rs. 3,000/- to get the Diploma Completion Certificate.

For further details please contact to

Karim Mirza Javeri,
Deputy Director, Training and CPD Department,
ICMA Pakistan, ST-18/C, ICMAP Avenue, Block - 6, Gulshan-e-Iqbal, Karachi, Pakistan.
Cell # 0336-2259183, Direct: +92 21 99244074, karim.javeri@icmap.com.pk