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 programme is assessed though a mix of two practically focused home assignments and an end of course exam at ICMA Pakistan, Computer Lab (CBE).
  • 50% marks on 2 home assignments
  • 30% marks for the home assignments
  • Participants must achieve 50% or above in the final exam to be eligible for the award of the Diploma. Pass mark is set at 50% with distinction achieved at 70%.
  • The candidates will be required to undertake a 1.5 hours computer based examination (CBE).
  • 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
Teaching format
  • Interactive Session (based on 3 Months or 45 CPD hrs)
  • The programme is delivered over a series of interactive sessions, based on 12 pillars equals to 3 Months or 45 CPD hrs.

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.

Will get Diploma Certificate
  • Participants who have actively taken part in the whole programme and have passed CBE Exam
  • While this Diploma is in itself a valuable addition to the participant’s academic records, the CPD hours of this certificate will beneficial them in future.
  • Attendance must be above overall 90%.

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.

Course Fees
  • PKR 42,000 (excl. of all taxes) applicable to all members of accounting apex bodies.
  • PKR 45,000 (excl. of all taxes) for other participants.
  • 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.
Venue and Schedule
  • Modules take place on Sunday, 12-4 pm at ICMA Pakistan, Head Office Karachi
  • Orientation Session on Wednesday, March 06, 2019 at 6pm at ICMA Pakistan Head Office, ST-18/C, ICMAP Avenue, Block - 6, Gulshan-e-Iqbal, Karachi, Pakistan Karachi.
  • Classes from March 17, 2019
Enrolment Procedure
  • The registration form is available on request to below person
  • The number of participants is limited in order to ensure a high quality level of the programme.
For further details please contact to

Maqsood un Nisa,
Sr.Officer Members’ Professional Development and Corporate Training,
ICMA Pakistan, ST-18/C, ICMAP Avenue, Block - 6, Gulshan-e-Iqbal, Karachi, Pakistan.
Phone: +92 21 99243900 | Ext: 224, maqsood.unnisa@icmap.com.pk