About Islamic Financial Planner (IFP)

The Islamic Financial Planner (IFP) is a training and certification programme designed especially for professionals and executives serving the retail segment of the Islamic financial market. This programmer is a joint collaboration between Islamic Banking and Finance Institute Malaysia (IBFIM) and the Financial Planning Association of Malaysia (FPAM). FP has obtained Full Accreditation status by the Finance Accreditation Agency (FAA).

Be an Islamic Financial Planner

Islamic Financial Planner (IFP) is designed especially for professionals and personnel serving the retail segment of the Islamic financial products and growing demands of discerning Muslim retail clientele call for higher standards of competency and ethical practice of financial planning professionals. Equipped yourself with enhanced knowledge in the personal financial advisory space.

Modules

M1 – Shariah & Major Components of Islamic Financial Planning

M2 – Islamic Risk Management, Estate & Waqf Planning

M3 – Islamic Investment, Retirement, Zakat & Tax Planning

M4 – Islamic Financial Plan Construction & Professional Responsibilities

Entry Requirements

Full Fledged (all Modules)

  • Minimum requirement: Degree in any field

Challenge Status

  • Certified Financial Planner (CFP) holders
  • Other professional certificates e.g. Chartered Financial Analyst (CFA), Chartered Accountant (CA), Certified Islamic Finance Professional (CIFP) or equivalent with 3 years’ experience
  • Bachelor’s degree holder in any discipline with 5 years of minimum experience in Islamic financial services industry.

Fees

Module Tuition (RM) Exam (RM)
M1 – Shariah & Major Components of Islamic Financial Planning (7 days) 1,749.00 424.00
M2 – Islamic Risk Management, Estate & Waqf Planning (9 days) 2,014.00 424.00
M3 – Islamic Investment, Retirement, Zakat & Tax Planning (8 days) 2,014.00 424.00
M4 – Islamic Financial Plan Construction & Professional Responsibilities (4 days) 2,226.00 NA
Total 8,003.00 1,272.00
RM 9,275

 

Module Tuition (RM) Exam (RM)
*Challenge Status – Shariah, Islamic Financial Plan Construction & Professional Responsibilities (6 days) 2,756.00 NA

 

Make that all important decision now!

Contact :

IBFIM
Phone No:  +603 2031 1010
Fax No: +603 2026 9988
Email – [email protected]

FPAM
Phone No:  +603 7954 9500
Fax No: +603 7954 9400
Email – [email protected]

Benefits of an Islamic Financial Planner

As an Islamic Financial Planner, with the complete knowledge proficiency as Islamic finance professional, they ability to: guide clients through the comprehensive financial planning process. advise clients on how they may achieve their financial goals according to Shariah and Al-Falah. implement and monitor the holistic financial plan for the client.

IFP qualification is recognised

  • By the SC for Capital Market Services Representative’s License for financial planning
  • By BNM for Financial Adviser’s Representative license.
  • The SIDC has also approved the IFP as a CPE-recognised professional qualification.

IFP FAQ

What is the Islamic Financial Planner (IFP) programme?

The IFP is a training and certification programme designed especially for professionals and executives serving the retail segment of the Islamic financial market. This programme is a joint collaboration between Islamic Banking and Finance Institute Malaysia (IBFIM) and the Financial Planning Association of Malaysia (FPAM).

What areas of knowledge do the IFP programme covers?

The IFP programme covers the major components of financial planning with the Islamic aspects being comprehensively integrated into each of the IFP modules.

What are the IFP modules?

The 4 modules of the IFP programme covering the Islamic financial planning components are:
Modules
M1 - Shariah & Major Components of Islamic Financial Planning
M2 - Islamic Risk Management, Estate & Waqf Planning
M3 - Islamic Investment, Retirement, Zakat & Tax Planning
M4 - Islamic Financial Plan Construction & Professional Responsibilities

Why should Unit Trust consultants and Takaful agents be an IFP?

Being certified as an Islamic Financial Planner will equip the Unit Trust consultants and Takaful agents with all the necessary knowledge to serve clients better and to become a financial advisory professional. The IFP program sets the competency standards and ethical practices of the professionals. In short, the consultants and agents can look forward to a fulfilling and prosperous career of being an Islamic financial planner. Also, BNM via a letter dated 1 Aug 2007 has endorsed IFP Modules 1 and 2 for Takaful executives and agents.

Are there plans to introduce a challenge status for CFP holder who wants to be certified as an IFP?

Yes, the IFP Challenge has been introduced. Candidates qualified for the IFP Challenge status will need to attend 6 days of classes and pass the Challenge Status examination. Kindly visit FPAM’s website for the application form and details.

What is the difference between the IFP programme and FPAM’s Islamic Financial Planning Course (IFPC)?

Being a four module training programme, whereby candidates undergo 7 days for Module 1, 9 days for Module 2, 8 days for Module 3, 4 days for Module 4 or 6 days for Challenge Status. The IFP programme coverage is more extensive and has more depth in comparison to the IFPC. The IFPC (also known as Practice Module 1) was designed as an add-on to the CFP programme and is part of FPAM continuing education (CE) courses. IFPC is a continuing professional education (CPE)-recognised professional course by Securities Industry Development Corporation (SIDC) of the Securities Commission (SC).

How long is the IFP programme?

Candidates have to undergo 7 days for Module 1, 9 days for Module 2, 8 days for Module 34 days for Module 4. A candidate can be certified as an IFP only after passing the M4 exam. The examinations are conducted twice a year in June and December. Candidates are required to register for the exam. Kindly check with FPAM for the exact dates.

If I start at M1, how much is my investment to be certified as an IFP?

To be certified as Islamic Financial Planner, the candidate is responsible for tuition and exam fees. The total fees payable for the 4 modules are RM9,275.

I provide financial advice professionally. Do I need a license?

Yes, financial planning and advisory is a regulated industry. Both regulators, SC and BNM, require a practitioner to hold a representative license for financial planning and financial advisory business respectively.

Is the IFP program recognised by Securities Commission and Bank Negara Malaysia?

Yes, the IFP qualification is recognised by the SC for Capital Market Services Representative’s License for financial planning and by BNM for Financial Adviser’s Representative license. The SIDC has also approved the IFP as a CPE-recognised professional qualification.

Must I become an FPAM member to take the IFP programme?

Yes, candidates must first register as a Trade Member of FPAM. The annual fee for Trade Members is RM50.

Are fees paid for the IFP program eligible for tax deduction?

Yes, the IFP program is an Islamic finance course to produce Islamic financial planning professionals recognised by the Securities Commission and BNM.

Is the IFP programme recognised internationally?

IBFIM and FPAM have every intention to promote the IFP programme internationally.