AAOIFI has recently launched the Scholarship Program for its ‘Certified Islamic Professional Accountant’ (CIPA) and the ‘Certified Shariah Advisor and Auditor’ (CSAA) fellowship programs.

The objective of the AAOIFI scholarship program is to provide need-based, market-based, and merit-based scholarships to students and professionals comprising the global Islamic finance industry so that they may pursue the fellowships of their choosing. In total, 100 scholarships are available ranging from 25% to 75% reduction in total program fees. Those interested in applying for the scholarship are required to submit a completed application form, arrange for maximum of 3 reference letters, and write a maximum 500-word Application Essay. First submission deadline is 15 December 2019 while the second deadline is 21 March 2020. Details and application form are available on the AAOIFI website.

On the occasion, Omar Mustafa Ansari, Secretary General, said that the “initiative for the launching of the AAOIFI Scholarship Program was taken to invest in and develop the current and future leadership potential of the global Islamic finance human resource, especially in the field of Islamic Accountancy as well as Shari’ah Advisory and Auditing.” He also invited the industry stakeholders “to participate in and financially contribute to the AAOIFI Scholarship Fund to ensure its long-term sustainability and growth.”

The decision for the award of scholarship shall be made by the AAOIFI Education Board (AEB) which will be deemed final, binding, and uncontestable. They shall reserve absolute right to grant or refuse request for scholarship