AAOIFI today launched the Language-specific Partnership Scheme for its professional development programs starting with the ‘Certified Islamic Professional Accountant’ (CIPA) program. The Scheme would allow interested parties to translate on their own and launch the CIPA program from English to French or Russian languages and in process, assume exclusivity for a minimum period of seven years during which a revenue-sharing mechanism will be pre-agreed. In that regard, the CIPA Translation Partner for the respective language would, with support from AAOIFI, deliver the entire CIPA program to potential candidates which includes the conduct of exams and Practical Experience Requirement (PER) without any geographical or jurisdictional restrictions.
On the occasion, Mr. Omar Mustafa Ansari, Acting Secretary General, said: “We have been receiving requests from different institutions since the relaunch of CIPA in April 2017 to allow them to translate the CIPA program especially to French and Russian languages. We considered those requests seriously and in response developed this scheme to give everyone an equal opportunity at winning the project based on a set of objective criteria, transparency of process, fairness, and best practice.” He further said that “making AAOIFI professional fellowship programs such as CIPA available in different languages is part of our strategy to reach and develop maximum number of professionals and jurisdictions in AAOIFI standards.”
Mr. Farhan Noor, Head of Professional Development, said that the “scheme actually offers a great opportunity for all those interested parties who wish to leverage the CIPA brand by making it available and accessible to all those accountants and auditors working at Islamic financial institutions whose professional working language is either French or Russian.” He also said: “Presently, CIPA is only offered in the English language. However, the program will be available in Arabic language in first quarter of 2019, Insha Allah.”
It is pertinent to note that the AAOIFI standards are also available in multiple languages such as Russian, French, and Urdu languages, respectively, whereas the Turkish translation is in print and the Mandarin (Chinese) translation is near-completion.
Those parties interested in the ‘Language-Specific Partnership Scheme for AAOIFI Professional Development programs’ are required to contact AAOIFI at ([email protected]) for the detailed terms and conditions of the same. The last date for the submission of completed forms is 8 October 2018 which will be evaluated strictly on merit in terms of the track-record of the team in related areas by the AAOIFI Secretariat as well as the AAOIFI Education Board (AEB).
CIPA, which stands for ‘Certified Islamic Professional Accountant’, is one of the flagship professional fellowship programs offered by AAOIFI since 2006. The CIPA program was revamped and relaunched in 2017 and which now comprise of 4 study texts and a one-year ‘Practical Experience Requirement’ (PER). Those interested in mastering the AAOIFI Accounting standards are best suited to pursue the fellowship. Currently there are more than 30 exam centres in as many countries.
Mr. Farhan Noor
Head of Professional Development