The BIBF Opens Registration for the Advanced Diploma in Islamic Finance (ADIF)
Tuesday, 15th August 2023
The Bahrain Institute of Banking and Finance (BIBF) has announced the commencement of registrations for the forthcoming batch of the Advanced Diploma in Islamic Finance (ADIF) professional qualification, aimed to qualify Islamic banking professionals to occupy advanced positions in the sector.
The programme is structured around six modules, encompassing Islamic Commercial Jurisprudence, Islamic Banking Operations, Islamic Treasury and Capital Markets, Accounting for Islamic Financial Institutions, Takaful, Business Banking, and Trust Law. Successful completion leads to the awarding of 90 credits.
Head of Islamic Finance Centre at the BIBF, Dr. Rizwan Malik stated, “BIBF support’s the strategic role of Bahrain as the hub for Islamic finance industry globally by offering capacity building programmes including ADIF qualification, which provides participants with essential theoretical knowledge and practical expertise. As the oldest Islamic finance professional qualification in the global Islamic banking and finance industry and aligned with the National Quality Framework (NQF) Level 9, ADIF stands on par with a master’s degree.”
He also added, “Since its launch in 2003, over 1,000 professionals from the Islamic banking and financial sector have attained the ADIF qualification, which has been crucial in building and enhancing capacity within the sector. ADIF’s primary objective lies in furnishing a comprehensive understanding of the industry by fusing theoretical and legal fundamentals with real-world applications.”
The Central Bank of Bahrain has mandated the ADIF qualification as a fundamental criterion for control posts within Islamic banks. Further endorsement comes through the Waqf Fund of the Central Bank of Bahrain, which sponsors member institutions for ADIF, alongside support from Tamkeen.
It is worth noting that graduates of ADIF benefit from accelerated admission to an MSc. programme at Coventry University or an MBA programme at the University of Bolton in the United Kingdom. Additionally, the qualification offers exemptions from two modules of the Certified Islamic Professional Accountant (CIPA) qualification awarded by The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
The deadline for admission applications for the upcoming cohort is September 3, 2023. For further details and registration, please visit: bibf.com/adif