CIPA PER

CIPA PER

Practical Experience Requirement (PER)

How PER will Work?

1. 1. Identify an IFI & a supervisor
   • Share the contact details of the IFI and the supervisor with AAOIFI.
   • AAOIFI will approve the same in writing
   1. Develop a 1-year “job description” with support from supervisor
   • List down the tasks you will be performing during the period
   • Assign expected % of time to be spent performing each task
   • The supervisor must sign-off the job description
   1. Submit monthly reports to AAOIFI
   • Update AAOIFI about the ongoing PER work and progress against the job description
   • Assign actual % time spent on each task
   • The supervisor must sign-off each monthly report with his / her comments, if any
   1. Submit final report to AAOIFI
   • The final report shall be compilation of monthly reports including responses to any feedback from AAOIFI + description of the learning acquired during the PER + a write-up on any gaps identified in the theory vs. practices / requirements of AAOIFI standards vs. its actual implementation
   • The supervisor must sign-off the final report with a comprehensive comment on the candidate’s PER performance, especially highlighting the progress made during the period
   1. Result announcement
   • AAOIFI may seek an interview with the candidate and / or the supervisor before grading the final report
   • A ‘pass’ grade is required to successfully fulfill the PER for AAOIFI fellowship