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Certified Islamic Professional Accountant (CIPA)

Certified Islamic Professional Accountant (CIPA) program is designed to equip candidates with the requisite technical understanding and professional skills on accountancy for international Islamic banks and financial institutions. The CIPA program and certification are developed and endorsed by Accounting & Auditing Organization for Islamic Financial Institutions (a non-profit organization) in its efforts to enhance the industry's human resources base & governance structure.
Certification Summary
Examination Papers & Topics
  • The CIPA Examination consists of only one examination paper.  
 
CIPA program covers technical subjects that are essential to accountancy for international Islamic banks and financial institutions, including:
  • Development of international Islamic banking and financial systems, and functions of Islamic banks and financial institutions.
  • Accounting concepts and principles for international Islamic banking and finance.
  • Qualitative characteristics of accounting information for international Islamic banking and finance.
  • AAOIFI’s accounting standards on financial reporting for the international Islamic banking and finance industry.
  • AAOIFI’s Shari'a standards on Islamic finance products and practices, and Shari’a basis for those standards.
  • AAOIFI’s Governance standards on Shari’a compliance and review processes.

 

Examination Style
  • The Exam consists of 75 multiple-choice questions to be answered within 3 hours.   
 
Examination Passing Score
Passing Score is 75%
Examination & Results Dates
  • Exam is conducted twice a year in February and August
  • Results are published after two months from the date of examination  
Examination Mode Paper-based
Areas of Specialization
  • Accounting
  • Islamic Finance
Professional Body AAOIFI
Location of Incorporation Bahrain