Curriculum
The award-winning ACIFE Financial Analysis is Ethica’s advanced certification in the most commonly performed calculations used inside an Islamic bank. Know these and you will be ahead of most bankers already inside an Islamic bank. The ACIFE Financial Analysis assumes a working knowledge of the terms used in the CIFE. For those not familiar with the Islamic banking products covered in the CIFE certification, we recommend doing the CIFE first. Conveniently self-paced, you complete it in 3 weeks or 4 months. We give you 10 months of easy access.
How do Islamic banks calculate leases? In these two modules you find out. We hold your hand through calculations, tables, and formulas and show you how to calculate rent in an Ijarah; how to calculate IRR; how to calculate profit; and how to account under IAS 17. It's all here.
You continue learning about Islamic leases with practical information about depreciation and floating-rate profits. We wrap it up with a look at what happens when things go wrong: defaults, late deliveries, early termination, asset defects, and negligence.
Safe and simple. Diminishing Musharakah is one of the best ways to finance property. We show you how an Islamic bank and a client co-own a house by taking you step-by-step through a redemption schedule. This is the module where you learn what makes an equity-based Islamic home financing operationally different from a conventional interest-based mortgage.
How do Islamic bankers provide their customers with profit-paying deposit accounts? Here we explain how. Beginning with the basics, we quickly get right into it with a step-by-step explanation of how weightages work. This module lays the foundation for later, more advanced training modules on structuring Mudarabah-based deposit accounts.
We continue from the previous module with step-by-step calculations of how banks use weightages to manage investor flux. Why do some investors get paid higher profits and others lower profits? Why do banks get paid the highest profit? And how do we calculate profits once the weightages are set? We learn the answers to these and other questions as the foundation for yet more modules on managing depositors at Islamic banks.
You know the theory behind Murabahas. But now you want to see how they work in practice. Look no further. This is the module you've been waiting for your whole life. We show you how to compute collection periods, inventory days, operating cycles, limits, profit, and price. And you thought you had to wait until your boss explained it to you. Important Note: The astronomical numbers thrown into the examples are meant to inspire our members to greatness.
Islamic banks use a number of techniques to manage funds. The asset pool manager first needs to know how to manage deposits, inter-bank investments, and equity investments. Understanding these categories forms the basis for the second part which goes into detail about investment pool management.
We now continue with the practical tools bankers use in asset pool management. Having already looked at pool identification and fund tracking and utilization, we now discuss pool composition, transfer and return mechanisms, income calculation, profit sharing ratios, and profit distribution. An example and a quiz serve to strengthen your understanding at the end.
With thousands of clients constantly depositing into and withdrawing from their accounts, how do Islamic banks manage to calculate profit? We not only show you how, but we also go into detail about each of the 3 methods banks use to calculate profit and which method is most recommended. And to keep you on your toes, there's a quiz at the end with plenty of numerical calculations.
After one leading Islamic finance scholar commented that as many as 80% of all Sukuks were not complying with AAOIFI standards, the industry was abuzz with speculations about what actually makes a Sukuk AAOIFI-compliant. Here we show you. In this case study, we do a side-by-side comparison of 2 real-world Sukuks, one that is AAOIFI-compliant and one that is not. This first module focuses on Sukuk documentation.
Now for the side-by-side comparison. We look at Nakheel's Sukuk, which is AAOIFI-compliant, and compare it with Aldar's Sukuk, which is not. At a time when the industry is careful to ensure that it attracts the broadest range of Sukuk investors, AAOIFI-compliance is paramount. And people who can spot the difference between a Sukuk that is compliant and one that is not become that much more valuable to the industry.
We wrap up the comparison of the two Sukuks with a look at how best to identify inconsistencies in other Sukuk. At the end, you check your understanding with a Quiz.
Each question is reviewed by an Islamic finance expert and approved by a scholar.
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