AAOIFI CPSS study guide
AAOIFI CPSS · Work through your exam, one topic at a time.
The Certified Professional in Shari'ah Standards (CPSS) is an AAOIFI certification for professionals working with Islamic finance standards. This page is an independent study resource and is not affiliated with, endorsed by, or operated by AAOIFI. Important limitation: the official AAOIFI pages retrieved for this profile did not contain usable CPSS program details. The page cached at the CPSS URL was unrelated commercial content, and the certifications page returned a 404 error. The AAOIFI CPSS study guide has 4 sections and about 1,209 words.
01Shari'ah Standards: Contracts, Prohibitions, and Structure
The Shari'ah Standards domain tests whether you can classify a transaction by its underlying contract and test it against the prohibitions. Know the core nominate contracts: murabaha (cost-plus sale with a disclosed mark-up), mudaraba (profit-sharing between capital provider and manager), musharaka (joint capital partnership), ijarah (lease of usufruct, with diminishing variants), salam (advance payment for a deferred fungible good), istisna'a (commission to manufacture), sukuk (investment certificates representing ownership in assets or usufruct), and takaful (cooperative risk-sharing).
310 words, about 2 min02Accounting Standards: Recognition, Measurement, and Zakat
AAOIFI accounting standards align financial reporting with the substance of Islamic finance contracts. The concepts you must command: recognition (when an asset, liability, or income arises), measurement (historical cost, fair value, or expected outcome), disclosure , and the treatment of investment accounts and zakat .
314 words, about 2 min03Governance Standards: Shari'ah Supervision and Controls
Governance standards explain how an Islamic financial institution demonstrates Shari'ah compliance in practice. The central organ is the Shari'ah Supervisory Board (SSB) : independent scholars who issue fatwas and rulings, review products, and report to shareholders.
274 words, about 1 min04Code of Ethics: Conduct, Conflicts, and Confidentiality
The Code of Ethics sets the professional conduct expected of individuals working in Islamic finance. The core principles are integrity , objectivity , competence , confidentiality , and professional behaviour , each applied with the additional lens of Shari'ah compliance and the public trust the industry carries.
311 words, about 2 min