IQIF case studies
IQIF · Put your knowledge to work in context.
The IQIF (Islamic Finance Qualification) is a professional credential for people who need a working command of Shariah-compliant finance rather than a specialist research depth. Candidates typically include bank and asset-management staff moving into Islamic windows, compliance and audit officers, Takaful practitioners, regulators, and graduates of finance or law programmes aiming at Gulf, Malaysian, UK, or Pakistani markets. The IQIF case studies are 5 cases and about 3,459 words.
1Commodity Murabaha Booked Out of Sequence
Noor Bank's corporate desk booked a USD 12.0 million commodity murabaha (tawarruq) for a metals trading company on 14 March. The file shows a 10:02 signed purchase order from the customer promising to buy on murabaha, a 10:05 purchase of 4,000 tonnes of aluminium from Broker A, a 10:06 murabaha sale to the customer at cost plus 4.25%, and a 10:07 onward sale by the customer to Broker B at cost.
773 words, about 4 min2Profit Equalisation Reserve Under Pressure From a Large Depositor
An Islamic bank in the UAE holds AED 8.0 billion of unrestricted investment accounts (URIA) under a mudharabah contract with a 60:40 profit share in favour of investors. For the last four quarters it distributed 4.6%.
699 words, about 3 min3Family Takaful Risk Fund Deficit and an Undisclosed Condition
Barakah Family Takaful runs a wakala model: the operator takes a 30% wakala fee on gross contributions and may take a 30% share of any surplus after a 70% distribution to participants. In 2024 gross contributions were MYR 180 million.
666 words, about 3 min4Mixed-Asset Sukuk Traded at a Premium
Jazeera Telecom issued a USD 500 million five-year sukuk at par with a fixed 5.6% distribution. The SPV holds a mixed portfolio: 28% is ownership of a tower estate leased to the issuer, and 72% is a portfolio of murabaha receivables from the issuer's equipment sales.
652 words, about 3 min5Shariah Board Approval by Email With an Undisclosed Interest
Al-Falah Islamic Bank has a five-member Shariah Supervisory Board. On 2 February one member resigned and another was travelling, leaving three members.
669 words, about 3 min