Testimonial from Islamic Finance Singapore 

Unsubscribe Web Version

Please enable images to view this content
Email RSS Feed LinkedIn YouTube
Please enable images to view this content

Testimonial from Islamic Finance Singapore

I first learned about Ethica Institute while working at ING bank in 2019. What surprised me was how many awards it had received for its courses, as well as how many banks, both conventional and Islamic, had enrolled in its CIFE and ACIFE programmes.

The testimonials were also very convincing and made it sound very practical, so I wondered why MUIS (Islamic Religious Council of Singapore) didn't offer this course to Madrasah students. I chose and enrolled in the ACIFE Financial Analysis because I already had the IFQ L3 certification.

They also offer:

    • Certified Islamic Finance Executive (CIFE), the introductory program

    • Advanced CIFE Financial Analysis (ACIFE FA)

    • Advanced CIFE Accounting (ACIFE ACC)

All of these certifications are trademarked, so you can proudly list them on your LinkedIn profile. The courses on Ethica are very detailed, and the learning portal has audio explanations of concepts as well as visual diagrams that you can interact with. This makes it perfect for online learning.

Even though I only took the ACIFE FA course, I noticed that it was very practical, like it was preparing me to be an Islamic banker. For example, I had to figure out how to calculate the monthly rent for a partnership that ends in ownership (Ijarah musharaka muntahia bittamleek).

The CIFE course is made up of a total of 22 modules, but because some of them are made up of three parts, they can be put together to make 11 modules. On the other hand, ACIFE FA and ACIFE ACC each have 12 and 9 modules.

Ethica has also compiled an 800-page E-book about Islamic finance and has been recognised by AAOIFI as a training partner to help students learn more about the subject. Also, if you pass their test, they will send you your certificate in a beautiful-handcrafted frame and help you find your next job in Islamic finance.

During my first year of college, I was lucky enough to pass the ACIFE FA test. You might find it helpful to learn the order of Excel calculations and write them down so you can use them on your exam and at work.

My thoughts: You will be amazed by how many awards Ethica has won and by how many bank employees it has trained. The certification is priced in US dollars, and it is quite expensive. However, if you wait for the discount email and choose to pay in instalments, you can get more out of your Singapore dollars.

As was already said, the certification is mostly for people who work in retail Islamic banks, but some modules, like sukuk calculations, can also be used in corporate finance. This is the right certification for you if you want one that is useful, easy to pass, and still covers a lot of ground.

Officially AAOIFI Recognized

Officially recognized by AAOIFI (pronounced “a-yo-fee”), the world’s leading standard-setting body in Islamic finance, Ethica's award-winning Certified Islamic Finance Executive (CIFE) and Advanced CIFE (ACIFE) earn you continuing professional development (CPD) credits

"The role Ethica has played in promoting the cause of standardization of best practices in Islamic finance, especially in the fields of Shari'ah and accounting, that too for the last two decades, is indeed praiseworthy. They have always put AAOIFI standards at the heart of all their certification and training programs for which we are grateful."

Omar Mustafa Ansari
 Secretary General, AAOIFI

What CIFE and ACIFE Graduates Say...

"Ethica’s CIFE has already opened doors for me..."
 Boyd Ruff
 Esq., USA    


“The course is brilliant.”

Mufti Ibrahim Essa, Darul Uloom

"I chose Ethica’s certification as it has an excellent reputation in the market and now I understand why. All the different modules cover the most important types of contracts from both a theoretical as well as a practical perspective and are complemented by a lot of clear examples. And the self-paced training permits excellent time management. I recommend the CIFE from Ethica Institute to everybody seriously interested in learning about Islamic finance."
Daniel Rasqui
Director, Product Support and IT, SIX Financial Information, Luxembourg                                                             

"We upgraded to twice as many users after only 6 months with Ethica."
Moinuddin Malim
CEO, Mashreq Al Islami        


Read more testimonials (here)

Haven't Experienced Ethica's Award-Winning Training Yet?

Training Video

Play a video from Ethica’s award-winning CIFE program

CIFE & ACIFE graduates have likened the knowledge gained from Ethica’s certification to actually working inside an Islamic bank. Ethica puts you ahead of the curve by training you in the practical aspects of Islamic banking without overwhelming you with theory. Play one of our videos (click here) to experience the quality and depth of our training.

Download Ethica's Handbook of Islamic Finance

Training Video

700+ Pages of Premium Content Free...

- Mufti Taqi Usmani’s “Introduction to Islamic Finance”
 - Sample Islamic finance contracts
 - Recommended reading lists
 - 1,000+ Islamic finance Q&As

Download Now

About Ethica Institute of Islamic Finance


Couriered to your doorstep at no extra charge, your framed certificate will handsomely adorn your office or study for years to come. Custom-mounted and framed by hand, this beautiful certificate was designed by classically-trained Islamic artists and third-party accredited to comply with AAOIFI, the world’s leading Islamic finance standard.

Ethica is trusted by more professionals for Islamic finance certification. Officially recognized by AAOIFI, the world's leading standard-setting body in Islamic finance, the Institute has trained over 15,000 paying professionals in 160 financial institutions across 65 countries, winning numerous industry awards. Ranked #1 on Google for “Best Islamic Finance Certification” regularly, Ethica’s globally recognized and accredited award-winning certificates include the Certified Islamic Finance Executive™ (CIFE™), Advanced CIFE™ Financial Analysis (ACIFE™ FA), and Advanced CIFE™ Accounting (ACIFE™ ACC), delivered online or live at the bank.

Celebrating 20 Years of Islamic Finance Excellence


  • Official recognition from AAOIFI, the world’s leading standard-setting body for Islamic finance
  • 15,000 paying professionals in 65 countries from over 160 institutions 
  • +$350,000 given in financial aid
  • +100 countries and thousands receive free courses and ebooks
  • Ranked #1 on Google for “Best Islamic Finance Certification” regularly
  • 69 industry awards

Our Learners and Clients Come From…

Disclaimer: This email is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action. Ethica Institute LLC does not purport to and does not, in any fashion, provide tax, accounting, actuarial, record keeping, legal, broker, dealer or any related services. You should consult your advisors with respect to these areas and the material presented herein. You may not rely on the material contained herein. Ethica Institute LLC shall not have any liability for any damages of any kind whatsoever relating to this material. Unlless indicated otherwise, the names of people, locations, and events may have been changed and any resemblance to actual people, locations, and events may be purely coincidental.

 © Ethica Institute of Islamic Finance