Q1: What is INCEIF?
INCEIF, the global university of Islamic finance was set up by Bank Negara Malaysia in 2006. Its programmes are wholly dedicated to postgraduate study on Islamic finance. To date students have come from over 70 different countries. That makes INCEIF's Islamic finance course certification the most globally accepted in the world.
Q2: What are the programmes offered at INCEIF?
Chartered Islamic Finance Professional (CIFP) - With graduates from over 70 different countries the CIFP is the most globally recognised entry qualification for the Islamic finance industry. The CIFP programme is fully accredited by the Malaysian Qualifications Agency (MQA) and is internationally recognised as a Masters degree.
Masters in Islamic Finance (MIF) - This programme offers training in the key areas of Islamic economics, finance and Shariah in both theoretical and applied aspects. It provides candidates with a comprehensive understanding of the economic, financial and legal environment in which providers of Islamic financial services operate.
PhD in Islamic Finance (PhD) - This is on campus programme has been developed in a way that produces scholars of international standing whose research furthers theoretical understanding while meeting the practical requirements of the Islamic finance industry.
Q3: What is the language used for INCEIF's programmes?
English is used for all communications.
Q4: How many intakes are there in a year?
There are three intakes for the CIFP in a year. These intakes correspond to the three semesters of Jan, Jun and Sep. The MIF & PhD programme has just two, Jan and Sep.
Q5: Is there a minimum amount of papers that a student has to sign up for?
The minimum for CIFP, MIF, PhD is 2 for Jan and Sep semesters and 1 for Jun semester. See CIFP, MIF or PhD for more details.
Q6: What is an articleship programme?
The articleship programme is designed to provide CIFP students with practical experience in the Islamic financial services industry for a period of six months. Students with 5 years relevant experience, however, can apply for exemption from the articleship.
- Malaysia based students; INCEIF will arrange for the students to undergo attachment at institutions in Malaysia. If students have a preferred institution, that institution must be pre-approved by INCEIF.
- International based students; students may arrange their own articleship. Upon your request, INCEIF will provide a supporting letter to be addressed to the targeted institutions.
- Working students; students who are already employed at the time of the articleship may continue working at your workplace and may convert a six-month period of your employment to articleship provided if prior arrangements are made with INCEIF.
Q7: What is the registration deadline for a student examinations?
Students must register 2 weeks after the semester starts.
Q8: What does the final examination comprises?
CIFP Part I: The three-hour final examination comprises 20 multiple choice questions, 5 short essays and 3 long essays.
CIFP Part II: The three-hour final examination 8 short essays and 3 long essays.
MIF /PhD: The three-hour final examination 8 short essays and 3 long essays.
Q9: Can a student get exemptions on the papers taught?
Exemptions can be considered for all 5 papers in Part I on a case-to-case basis and subject to approval from INCEIF's Academics Division. There has to be proof that there is a 80 per cent similarity between the existing qualifications and the intended exempted CIFP papers. All 14 CIFP papers have Islamic Finance elements.
Q10: Can a student withdraw funds from the Employees Provident Fund to pay for CIFP, MIF and PhD?
Yes. To apply for withdrawal under this scheme, the student should request for the "Letter for EPF withdrawal" from INCEIF. This can be done by emailing admission@inceif.org
Q11: Accommodation & Living Costs. How much will I need in addition to tuition fees for living in Kuala Lumpur?
Living costs in Kuala Lumpur can vary considerably depending on your lifestyle and the area and type of your accommodation. On average we would recommend that a single person should allow approximately RM1,000 - RM1,500 per month for living expenses; this figure is inclusive of accommodation costs, and assumes sharing a house or apartment with others. The living costs for married candidates and those with children will be higher.
Q12: How easy is it to find accommodation in Kuala Lumpur?
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/apartment. We normally advise candidates to arrive at least two weeks before the programme starts to allow time to find accommodation. The Academic and Student Affairs Office will give you advice and information on how to find suitable accommodation, and put you in touch with fellow candidates who are looking to share a flat.
Q13: Do I have to be a Muslim to study Islamic finance?
No. Islamic finance industry personnel come from many different religions and many different socio-economic backgrounds. The same is true for end-product usage. The phenomenal growth Islamic finance is experiencing is being fuelled not only by the Muslim population but also because consumers of other faiths see Sharia-compliant products as offering a credible alternative for ethical investment that is clean, environmentally friendly and socially responsible.
Q14: How do I access INCEIF student email?
We've created an INCEIF Student Email for you! This will helps ensure the flow of official e-mail from INCEIF to you. We encourage you to use this account as your primary e-mail address.
Sign up and get started by click here.
