Certified Islamic Finance Risk Management Professional (CIFRMP)

The Certified Islamic Finance Risk Management Professional (CIFRMP) program is a specialized certification designed to equip individuals with advanced knowledge and expertise in the field of risk management within the context of Islamic finance. Islamic finance operates on principles that adhere to Shariah law, and risk management in this domain requires a deep understanding of both finance and Islamic ethics. The CIFRMP program offers a comprehensive curriculum that covers risk assessment, mitigation techniques, regulatory compliance, and ethical standards, ensuring that graduates are well-prepared to excel in roles that demand precision and proficiency in managing risk in Islamic finance.

Certification Program Objectives:

Upon completing the Certified Islamic Finance Risk Management Professional (CIFRMP) program, participants will be able to:

  • Risk Assessment: Develop advanced skills in identifying, assessing, and quantifying various risks associated with Islamic financial products and transactions.
  • Risk Mitigation: Learn effective risk mitigation techniques and strategies tailored to Islamic finance, including risk-sharing mechanisms.
  • Regulatory Compliance: Understand the regulatory framework governing Islamic finance and ensure compliance with Shariah law and financial regulations.
  • Ethical Risk Management: Demonstrate ethical conduct and professional integrity in all aspects of risk management within Islamic finance.
  • Portfolio Risk Management: Gain expertise in managing risk across Islamic finance portfolios, optimizing returns while maintaining compliance and ethical standards.

Certification Requirements:

  • Bachelor’s Degree


  • 2 – 5 years of relevant work experience

Certifying Examination:

  • To be certified as CIFRMP, student should take up a 1.5 hours online exam conducted by AIBM.
  • The qualifying exam would consist of 50 multiple choice questions, testing core certification modules.
  • Professionals with relevant experience and other qualifying criteria may be exempted from the examination.

Certification Modules:

  1. Principles of Islamic Finance and Risk Management
  2. Risk Assessment and Quantification in Islamic Finance
  3. Risk Mitigation Strategies in Islamic Finance
  4. Regulatory Compliance and Shariah Governance
  5. Advanced Risk Modeling Techniques in Islamic Finance
  6. Crisis Management and Business Continuity Planning in Islamic Finance

* The modules of the certification are constantly updated and are subject to change.

Who Should Do This Certification:

The Certified Islamic Finance Risk Management Professional (CIFRMP) certification is highly beneficial for professionals across various roles and industries, including:

  • Risk Managers: Risk management professionals seeking expertise in risk assessment and mitigation within the context of Islamic finance.
  • Islamic Finance Specialists: Those already working in the field of Islamic finance who want to deepen their knowledge and skills in risk management.
  • Compliance Officers: Professionals responsible for ensuring that Islamic finance practices comply with Shariah law and financial regulations.
  • Ethical and Shariah Compliance Experts: Individuals specializing in ethical and Shariah compliance within Islamic finance.
  • Investment Managers: Portfolio managers responsible for managing Islamic finance portfolios while effectively managing risk.
  • Consultants: Individuals providing consultancy services in Islamic finance risk management and compliance.
  • Banking and Finance Professionals: Those working in financial institutions who want to specialize in risk management within the context of Islamic finance.

Earning the CIFRMP certification signifies your expertise in risk management in the field of Islamic finance, a specialized and ethical domain of finance. Whether you work in risk management, compliance, portfolio management, or consultancy, this certification equips you with the knowledge and skills needed to excel in the dynamic world of Islamic finance, enabling you to make informed risk management decisions and contribute to the success of your organization while upholding ethical standards.