The AAOIFI Scholarship Program is an initiative particularly designed and developed for the intellectually able and/or professionally skilled individuals who are being priced out from pursuing the AAOIFI fellowship programs such as the Certified Islamic Professional Accountant (CIPA) and the Certified Shari’ah Advisor and Auditor (CSAA) due to financial constraints. With this program, AAOIFI wants to support and faciliate capacity building in different parts of the world where Islamic Finance is either developed or developing as a major market. The core objective of the program is to develop the leadership potential of the current and future Islamic finance human resource, particularly in the field of Islamic Accountancy.
• Total 50 scholarships available till June 2020 • All nationalities warmly welcomed! • Scholarships ranging from 25% to 75% reduction in total fees • Need-based, merit-based, and market-based scholarships offered • 1st Deadline is 15 January 2020• 2nd Deadline is 21 March 2020
The standard fee for CIPA fellowship is USD 2,200/-
Scholarship Application and Award Process
Step 1: Fill out the Scholarship Application Form
Step 2: Get maximum 3 Reference Letters
Step 3: Submit an Application Essay in English
Step 4: Send all documents to AAOIFI
Step 5: Receive AAOIFI Scholarship for the CIPA Program
All those interested in pursuing CIPA fellowship program are welcome to apply for the scholarship. However, higher weightages will be assigned to applications based on financial need, merit, and market / geographical location.
Applicants may submit Reference Letters, in English language, which should comment on their academic and/or professional achievements, while assessing their capabilities, ethics, and potential as a leader of Islamic finance accountancy profession
Applicants are required to submit a max. 500 word Application Essay on the following topic: “Why should & how will you contribute towards the cause of standardization of Shari’ah, Accounting, Auditing, Governance & Ethics practices in the Islamic Finance industry?”
The completed Application Form, maximum 3 Reference Letters, and the Application Essay need to be sent via email to AAOIFI at [email protected] on or before 15 January 2020 or on or before 21 March 2020
The decision for the award of scholarship shall be made by the AAOIFI Education Board (AEB) which will be deemed final, binding, and uncontestable. The AEB shall reserve absolute right to grant or refuse request for scholarship.