Certificate of Proficiency in Shari’ah Standards (CPSS)
Certificate of Proficiency in Shari’ah Standards
What is CPSS?
CPSS is an advanced-level certificate program designed for Islamic finance professionals who wish to develop correct understanding, interpretation, and implementation skills in the requirements of the AAOIFI Shari’ah standards. The certificate places greater emphasis on the development of technical / practical knowledge and skills in the application of the standards at Islamic financial institutions (IFIs) and for Islamic finance transactions.
CPSS language
CPSS is offered in English and Arabic languages, respectively.
Registration to CPSS
The registration is open to all.
Registration deadlines for 2024 exams:
| Register by | |
| 1st exam window | ………… |
| 2nd exam window | ………… |
CPSS curriculumThe curriculum of the CPSS comprise of all Sharia’h standards issued by AAOIFI. The standards are divided into five parts: Part A (Shari’ah fundamentals); Part B (Islamic finance contracts and related topics). Part B is sub-divided into nine parts; Part C (Islamic banking); Part D (Islamic Financial Markets); and Part E (Islamic Insurance / Takaful).
As of 2024, the examinable content of the certificate includes 60 standards classified in the respective parts / categories, where each part has been assigned different weightages based on their market importance, relevance and practicality.
Candidates will be tested of their conceptual and practical understanding of the rationale, the requirements and the basis of conclusion of each standard.
Click here for CPSS syllabus
CPSS fee and discounts
The standard fee for the CPSS program is USD 750. The fee is inclusive of the registration fee, 1 study text, 1 mock exam, 1 exam sitting and the certificate fee (including the shipment charges).
Discount is offered to AAOIFI institutional members, fellows and to those candidates from developing markets.
Criteria for discount Description Discount Developing market discount Based on GDP per capita Medium (if GDP > 50% of world average of USD 11,000) 15% Developing market discount Based on GDP per capita Medium (if GDP > 50% of world average of USD 11,000) 30% Developing market discount Based on Islamic finance market share (MS) of the total banking assets of the country Medium (if MS > or = 5% but < 10%) 7.5% Developing market discount Based on Islamic finance market share (MS) of the total banking assets of the country Medium (if MS > or = 5% but < 10%) 15%
In case both GDP and MS discounts are applicable, only the GDP discount will be applied.
How to apply the discount policy:
Find out the classification of your country as per GDP per capita and Islamic finance market share criteria and apply the discounts accordingly on the total program fees. In case, both GDP and MS discounts apply, then the higher of the two discounts (which will always be GDP discount) will be used.
Additional fees will include.
| Exam re-sit fee | USD 200 |
| Exam re-check fee | USD 100 |
| Replacement of CPSS certificate | USD 100 + postal expenses |
CPSS examination
Following is the examination schedule for CPSS program:
| Window 1 | Window 2 | Duration (hrs) | Format |
| 20 June 2024 | 5 December 2024 | 3 hours | MCQs |