NIBAF Islamic Banking Certificate study plan

Define riba, gharar, maysir, and qimar in your own words and give one banking example of each

Distinguish the four Sunni schools' broad positions on key prohibitions without memorising fiqh detail

Map the primary sources (Quran, Sunnah, ijma, qiyas) and secondary tools (istihsan, maslahah, urf) onto one modern product question

Explain the difference between Shariah-compliant and Shariah-based framing and why the distinction matters to regulators

Classify murabaha, ijara, musharaka, mudaraba, salam, and istisna by their underlying exchange logic

Identify which contracts are debt-creating versus equity-based and note the balance-sheet consequence of each

Explain the sequence of offer and acceptance (ijab and qabul) and why ownership risk must precede profit

Spot the three most common Shariah-compliant structuring errors in a short written scenario

Walk through a murabaha transaction from asset purchase to deferred sale and list the Shariah conditions at each step

Contrast diminishing musharaka with conventional amortising finance in terms of ownership transfer

Explain salam and istisna pricing mechanics and the specific risk each addresses in agriculture and manufacturing

Draft the penalty, rebate, and early-settlement clauses you would expect in an Islamic financing agreement

Map the deposit side: current accounts (qard), savings and investment accounts (mudaraba), and the profit-sharing ratio mechanics

Explain how profit distribution is calculated and smoothed through profit equalisation and investment risk reserves

Describe the retail, corporate, and trade-finance product set a typical Islamic bank offers

Compare takaful with conventional insurance on the basis of tabarru, wakala, and surplus distribution

Explain sukuk structures (ijara, murabaha, musharaka) and how they differ from conventional bonds in return and ownership

Describe the treasury function in an Islamic bank: liquidity management, interbank placement, and Shariah-compliant instruments

List the risk categories specific to Islamic banking, including displaced commercial risk and rate-of-return risk

Match each risk to at least one mitigation tool used in practice

Explain the Shariah Supervisory Board's role, composition, fatwa issuance, and annual Shariah audit

Trace how murabaha and ijara are recognised and measured in Islamic bank financial statements

Describe the purpose of the profit distribution statement and the treatment of zakat and charity funds

Identify the key disclosure items examiners expect in Islamic bank annual reports

Summarise the regulatory bodies and standards relevant to Islamic banking (AAOIFI, IFSB, national central bank framework)

Explain how capital adequacy and liquidity rules are adapted for profit-sharing investment accounts

Apply an ethical decision framework to two customer scenarios, including disclosure of risk sharing

Practise explaining profit-and-loss sharing to a customer in plain language without jargon

Re-test every domain with weighted practice questions and log accuracy by domain

Re-drill only the two weakest domains until each reaches 80% accuracy

Rehearse contract comparisons and profit distribution calculations under time pressure

Review the full glossary and risk register for final recall