Free AQIF Exam Prep
IBFIM Associate Qualification in Islamic Finance (AQIF, Malaysia)
Prepare for the AQIF exam without spending hundreds on expensive prep courses. Free study guides, practice questions, flashcards, and related exam resources.
Quick Facts
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AQIF IBFIM Islamic Finance Certificates (Malaysia) License: Complete Roadmap
Follow this path to organize your licensing and exam preparation
Phase 1: Shariah Foundations (M1)You are here
Master sources of Shariah, maqasid, and prohibitions of riba, gharar, and maysir.
Phase 2: Contracts & Products (M2)
Drill major contracts and how banks structure financing, deposits/IA, and sukuk.
Phase 3: Ethics, Law & Architecture (M3–M5)
Cover ethics, IFSA/Shariah governance, and the banking–takaful–ICM architecture.
Can You Take the AQIF Exam?
Check if you meet the basic eligibility requirements
- •Register via IBFIM or an authorised learning partner for the chosen AQIF delivery mode
- •Bring required identity and academic documents to the exam centre as instructed by IBFIM
- •Pay applicable programme/exam fees before sitting
AQIF Quick Facts
Time to Get Licensed
Typically 4–8 weeks part-time for candidates with basic banking exposure; longer if new to Shariah concepts.
From start to license in hand
Exam Provider
IBFIM (Islamic Banking & Finance Institute Malaysia) / authorised centres and learning partners
Retake Policy
Re-sits are allowed; each attempt is charged the MYR 300 assessment fee (plus 6% SST) per the IBFIM AQIF brochure, and IBFIM publishes no cap on the number of attempts.
Total Cost Breakdown
Free AQIF Prep Tools
161 Practice Questions
Full-length style bank mapped to IBFIM AQIF's five modules.
Contract-Focused Explanations
Rationales covering Murabahah, Mudarabah, Ijarah, sukuk, takaful, and Malaysian governance.
Independent Practice
Updated 2026-07-12 to AQIF module outline and published exam logistics.
Free Access
Practice free before paying IBFIM or partner programme fees.
What You'll Study
11 chapters covering the exam topics in this guide
Chapter 1: AQIF Orientation, Shariah Foundations & Rule-Making
5 sections
Chapter 2: Islamic Economics, Core Prohibitions & Contract Essentials
4 sections
Chapter 3: Exchange & Sale Contracts (Murabahah, Tawarruq, Salam & Istisna')
3 sections
Chapter 4: Leasing & Partnership Contracts (Ijarah, Mudarabah & Musharakah)
3 sections
Chapter 5: Fee-Based, Security & Gratuitous Contracts (Wakalah, Kafalah, Rahn & Qard)
3 sections
Chapter 6: Ethics in General, Islamic Ethics & Fiduciary Conduct
4 sections
Chapter 7: Treating Customers Fairly, VBI & Professional Standards
3 sections
Chapter 8: Malaysian Statutory Framework (IFSA & CMSA)
3 sections
Chapter 9: Corporate & Shariah Governance in Islamic Financial Institutions
5 sections
Chapter 10: Islamic Finance Industry, Banking & Takaful Architecture
3 sections
Chapter 11: Islamic Capital Markets, Wealth Management & Contemporary Trends
3 sections
AQIF Exam Details
IBFIM Associate Qualification in Islamic Finance (AQIF, Malaysia)
Administered by IBFIM (Islamic Banking & Finance Institute Malaysia)
Exam Content Breakdown
Based on the official IBFIM (Islamic Banking & Finance Institute Malaysia) content outline
M1: Sources and philosophy of Shariah, maqasid, riba/gharar/maysir prohibitions, and foundations of fiqh muamalat.
M2: Major Shariah contracts (Murabahah, Mudarabah, Musharakah, Ijarah, Istisna', Salam, Tawarruq/Wakalah and related structures) used to build products.
M3: Islamic ethical principles (amanah, justice, transparency), conduct, and value-based outcomes linked to Islamic finance practice.
M4: Malaysian Shariah governance (IFSA, BNM SAC, Shariah Committee), SC Islamic capital market governance, and international standards (AAOIFI/IFSB).
M5: Banking, takaful, and Islamic capital market components, dual system in Malaysia, instruments, and refinement issues for competitiveness.
What's Included
11 Chapters
Complete exam coverage
Practice Quizzes
With detailed explanations
Free to Start
No credit card required
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What's Next After the AQIF?
After passing the AQIF, you can pursue these career paths
Islamic Banking / Relationship Roles
Entry foundation for officers supporting Islamic deposits, investment accounts, and financing products in Islamic banks or windows.
Takaful & Islamic Capital Market Pathways
Stepping stone toward IQIF/CQIF specialisations in banking, takaful, capital market, or wealth management via IBFIM.
Shariah / Compliance Support Roles
Builds baseline literacy for junior compliance, product, or operations staff working with Shariah-compliant products (not a substitute for CPSA auditor credentials).
AQIF Exam FAQ
Official IBFIM (Islamic Banking & Finance Institute Malaysia) Resources
Verify information with these official sources
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