CIPA PER

CIPA PER

Practical Experience Requirement (PER)

How PER will Work?

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

2. Develop a 1-year “job description” w/ 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

3. 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

4. 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

5. 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