FAQs

Q1. WHAT IS MIFP?
MIFP is the acronym for Masters in Islamic Finance Practice. It is an accredited programme by the Malaysian Qualifications Agency (MQA). MIFP aims to produce finance professionals with expertise in Islamic Finance. It can be pursued either as full-time programme with normal class engagement, or through online study where students with Internet access are able to learn from anywhere around the globe. The papers offered are developed and taught by a teaching faculty comprising renowned international and local scholars in the areas of Shariah and finance as well as Islamic financial services industry experts.

Applicants for MIFP are required to have one of the following:

  • A Bachelor’s degree or an equivalent qualification or a professional qualification from institutions recognised by INCEIF or the Government of Malaysia with a minimum CGPA of 2.50; or
  • Sijil Tinggi Pelajaran Malaysia (STPM) OR EQUIVALENT (such as A LEVEL, matriculation, etc) who is at least 35 years old and have at least five (5) years of relevant working experience;
  • Candidates with Diploma from recognized institutions by INCEIF who is below 35 years old may apply by producing the Accreditation of Prior Experiential Learning (APEL) certificate from Malaysian Qualification Agency (MQA).

Applicants are also required to be competent in English. They must have one of the following:

  • Test of English as Foreign Language (TOEFL) with a score of 550
  • International English Language Testing System (IELTS) level 6
  • MUET Band 4

There is a RM60 processing fee for Malaysians and a USD25 processing fee for international students. Once an application is submitted, INCEIF will update the applicant on the status of the application through email.

 

Q2. WHAT IS THE DIFFERENCE BETWEEN MIFP AND MSC IN ISLAMIC FINANCE?
MIFP is a professional degree. The programme has strong theoretical underpinnings, with its primary purpose to offer knowledge for application in professional practice. MSc in Islamic Finance is an academic degree. The programme consists of advanced studies in an academic discipline, rather than specific applications of knowledge to professional practices.

 

Q3.WHAT IS THE LANGUAGE USED FOR INCEIF’S PROGRAMMES, INCLUDING THE MIFP?
English is used for communications and teaching of the programmes.

 

Q4. WHAT IS THE MAXIMUM LENGTH OF TIME ALLOWED FOR A STUDENT TO COMPLETE MIFP?

Face to face

Full time
Part time

Min 1 year, Max 2 years
Min 1 1/2, Max 4 years

Online

Full time
Part time

Min 1 year, Max 2 years
Min 3 years, Max 6 years

 

Q5. IS THERE A MINIMUM AMOUNT OF PAPERS THAT A STUDENT HAS TO SIGN UP FOR?

Semester

Face to face

Online

Part time

Full time

Part time

Full time

Long Semester

Max 3

Min 2

Max 6

Min 4

Max 2

Min 1

Max 6

Min 3

Short Semester

Max 2

Min 1

Max 3

Min 2

Max 1

Min 0

Max 3

Min 2

 

Q6. HOW MANY ELECTIVE PAPERS DOES A STUDENT NEED TO COMPLETE UNDER THE MIFP PROGRAMME?
A student is required to complete 1 out of 4 elective papers.

 

Q7. WHAT DOES A STUDENT GET UPON REGISTRATION?
Students will receive a study guide and a password to access the Learning Management System (LMS) that enables the management and delivery of learning content and resources to students. The LMS usually performs student registration, delivers and tracks e-learning courses and content, monitors students’ progress, records test scores, and helps facilitate virtual live classes and resource allocation such as venue, rooms, textbooks, academic timetable, examination schedules and instructors.

 

Q8. WHAT HAPPENS AFTER A STUDENT IS REGISTERED TO STUDY AT INCEIF?
Upon registration and payment of the fees, students will be assigned a password that will allow him/ her to access the e-University or the Learning Management System (LMS). This gives students full access to the course plan, the papers and all related materials.
The course plan gives students a detailed week-by-week outline of the topics to be covered. Students will also get their assignments with the due dates and the examination dates.

 

Q9. WHAT IS THE REGISTRATION DEADLINE FOR A STUDENT IF HE/SHE WANTS TO SIT FOR THE FINAL EXAMINATIONS?
Students must register 2 months before the examination date.

 

Q10. HOW WILL MIFP STUDENTS BASED OUTSIDE KUALA LUMPUR UNDERGO FINAL EXAMINATIONS?
INCEIF will appoint a representative to supervise the examinations in the city closest to where the student lives.

 

Q11. HOW MUCH IS THE TOTAL FEE FOR MIFP?
Please click on the above Programme Fees tab for the total MIFP fees.

 

Q12. ARE SCHOLARSHIPS PROVIDED FOR THE MIFP PROGRAMME?
A limited number of scholarships, fee revisions and partial financial aid are available for high caliber candidates. Candidates are assessed on income, number of dependents, purchasing power parity, academic performance and the potential for future contributions to the Islamic finance industry. Interested students should complete the Financial Assistance form.

 

Q13. FOR MALAYSIANS ONLY. CAN A STUDENT WITHDRAW FROM ACCOUNT II OF THE EMPLOYEES PROVIDENT FUND TO PAY FOR MIFP?
Yes. To apply for withdrawal under this scheme, the student should request for the “Letter for EPF withdrawal” from INCEIF by emailing admission@inceif.org

 

Q14. ACCOMMODATION & LIVING COSTS
Living costs in Kuala Lumpur can vary considerably depending on the lifestyle, the area and type of accommodation. On average we would recommend that a single person allows approximately RM1,000-RM1,500 per month for living expenses; this figure is inclusive of accommodation costs on a sharing basis. The living costs for married candidates and those with children will be higher.

Rented accommodation in Kuala Lumpur is easy to find. However the quality and location will determine the price. The rent would be around RM600-RM1000 per month for a one-bedroom flat. We advise students to arrive in Kuala Lumpur at least two weeks before the programme starts to allow time to find accommodation. The Academic and Student Affairs Office will give information on how to find suitable accommodation, and put them in touch with fellow students who are looking to share a flat.

 

Q15: WHAT IS THE APPLICATION DEADLINE?

Semester

Fulltime

Online

International

Malaysian

International & Malaysian

September 2017

9 June 2017

21 August 2017

21 August 2017

January 2018

15 October 2017

5 January 2018

5 January 2018