The Certified Shari’ah Non-compliance Risk Management Professional (CSNRMP) program is a specialized certification designed to equip individuals with advanced knowledge and expertise in managing Shari’ah non-compliance risk within Islamic financial institutions. In Islamic finance, adherence to Shari’ah principles is paramount, and ensuring compliance is a critical aspect of risk management. The CSNRMP program offers a comprehensive curriculum covering Islamic finance principles, Shari’ah compliance assessment, risk mitigation strategies, and ethical standards, ensuring that graduates are well-prepared to excel in roles that demand precision and proficiency in managing Shari’ah non-compliance risk.

Certification Program Objectives:

Upon completing the Certified Shari’ah Non-compliance Risk Management Professional (CSNRMP) program, participants will be able to:

• Understand Islamic Finance Principles: Develop a deep understanding of the foundational principles of Islamic finance and the significance of Shari’ah compliance in financial transactions.
• Identify Non-compliance Risk: Learn to identify areas and transactions that may potentially lead to Shari’ah non-compliance risk within Islamic financial institutions.
• Assess and Measure Risk: Acquire skills in assessing and measuring Shari’ah non-compliance risk using appropriate tools and methodologies.
• Implement Risk Mitigation Strategies: Develop strategies and frameworks to mitigate Shari’ah non-compliance risk effectively and ethically.
• Ensure Ethical Compliance: Demonstrate ethical conduct and professional integrity when managing Shari’ah non-compliance risk, adhering to Islamic ethical standards.

Certification Eligibility Criteria:

To apply for certification from The American Institute of Business and Management (AIBM) and its allied institutions, candidates must meet at least one of the following criteria:

• A Bachelor’s degree from a recognized institution

And/or

• 2 to 5 years of relevant work experience in the related professional field.

Note: Applicants who do not hold a Bachelor’s degree but possess exceptional professional experience and hold significant positions within their organizations in a relevant field may also be considered for certification on a case-by-case basis, subject to the approval of the AIBM evaluation committee.

Certifying Examination:

• To be certified as CSNRMP, 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. Islamic Finance Fundamentals
2. Shari’ah Compliance Assessment
3. Shari’ah Non-compliance Risk Measurement
4. Risk Mitigation Strategies
5. Shari’ah Governance Frameworks
6. Monitoring and Reporting of Non-compliance Issues

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

Who Should Do This Certification:

The Certified Shari’ah Non-compliance Risk Management Professional (CSNRMP) certification is highly beneficial for professionals across various roles and industries, including:

• Islamic Finance Practitioners: Professionals already working in Islamic finance institutions, such as banks and Takaful companies, seeking to enhance their knowledge and skills in managing Shari’ah non-compliance risk.
• Risk Managers: Those responsible for managing risk within Islamic financial institutions, including identifying and mitigating Shari’ah non-compliance risk.
• Compliance Officers: Professionals tasked with ensuring that financial institutions adhere to Shari’ah principles and avoid non-compliance risk.
• Ethics and Governance Experts: Individuals with expertise in ethical standards and governance practices, particularly within Islamic finance.
• Consultants: Those providing advisory services related to Shari’ah compliance and risk management in Islamic finance.
• Students and Graduates: Individuals interested in entering the field of Islamic finance and risk management, looking to acquire specialized knowledge.

Earning the CSNRMP certification signifies your expertise in identifying, assessing, and mitigating Shari’ah non-compliance risk within Islamic financial institutions. Whether you are already working in Islamic finance or aspire to do so, this certification equips you with the knowledge and skills needed to excel in roles that demand advanced proficiency in Shari’ah non-compliance risk management and ethical compliance within Islamic finance.