The Certified Islamic Insurance Professional (CIIP) program is designed to provide an in-depth understanding of the principles of Islamic insurance or Takaful. The program covers the fundamental concepts of insurance in Islam, including the prohibition of Riba (usury) and Gharar (risk) and how these principles relate to insurance. It also explores the history of Islamic insurance, the development of mutual insurance, and the emergence of Islamic banking and insurance in Malaysia and Saudi Arabia. The program emphasizes the basic principles for an insurance scheme acceptable to the Islamic faith and concludes with an overview of the key concepts covered in the program.

Certification Program Objectives:

• To provide an understanding of the meaning of insurance in Islam
• To explore the concepts of Riba (usury) and Gharar (risk) and their implications for insurance
• To examine the basic principles for an insurance scheme acceptable to the Islamic faith
• To provide a comprehensive overview of the key concepts covered in the program

Certifying Examination:

• To be certified as CIIP, student should take up a 1.5 hours exam at the designated examination centers.
• 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.

Modules:

1. The meaning of insurance in Islam
2. Riba (Usury) and Gharar (Risk)
3. Basic principles for an insurance scheme acceptable to the Islamic faith
4. Conclusions