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About Islamic Financial Planner (IFP)
ISLAMIC FINANCIAL PLANNER is designed especially for professionals and executives serving the retail segment of the Islamic financial market. The continued innovation of Islamic financial products and growing demands of discerning Muslim retail clientele call for higher standards of competency and ethical practice of financial planning professionals. Coupled with the Government's drive to turn Malaysia into an International financial center for Islamic Finance as the backdrop, the introduction of this program is to forge Malaysia's leadership in Islamic Finance.
The training syllabus covers six modules covering all aspects of financial planning, similar to the CFP®, but will be in full compliance with Syariah principles and Islamic tenets.
BNM recognised Islamic Financial Planner (IFP) for Financial Adviser’s representative
FPAM is pleased to announce that its Islamic Financial Planner (IFP) qualification has been recognised by Bank Negara Malaysia (BNM) for the purpose of becoming a Financial Adviser’s representative. The business of financial advisory in respect of insurance products is a regulated activity under the purview of BNM.
SC recognised IFP for CMSRL for Financial Planning
FPAM is pleased to announce that its newly developed IFP qualification has been recognised by Securities Commission for the purpose of applying for a Capital Markets Services Representative’s License (CMSRL) to carry out the regulated activity of financial planning.
Entry Requirements
Candidates must have a minimum of: Sijil Pelajaran Malaysia (SPM); and relevantt working experience in the financial services industry.
IFP Challenge Status: CFP or RFP Certified members are eligible to apply and sit for Challenge Status Examination. They will skip IFP Module 1-5 and go direct to IFP Module 6. However, they must attend a 3-day preparatory course course in Islamic Financial Planning Fundamentals.
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Objectives
IFP prepares candidate to be a competent financial planner capable of meeting the financial planning needs of the consumer in conformity to Shariah. The Islamic Financial Planner shall be equipped with all the necessary knowledge of financial advisory for the retail market.
At the end of the program, the candidate should be able to:
- Have clear appreciation of Islamic financial planning
- Guide clients through the financial planning process
- Advise clients on how they may achieve their financial goals and al-falah
- Implement and monitor the financial plan for the client
Target Market
Within the retail segment of the Islamic financial market, the IFP designation is highly relevant to:
- Takaful agent
- Retail/Personal financial services executive and manager
- Unit trusts agent
- Wealth management executive and manager
- Estate planner executive and manager
- Financial planning professionals
IFP Modules
| ISLAMIC FINANCIAL PLANNER (IFP) |
| M1 |
Fundamentals of Islamic Financial Planning |
| M2 |
Risk Management and Takaful Planning |
| M3 |
Islamic Investment Planning |
| M4 |
Zakat and Tax Planning |
| M5 |
Islamic Estate and Waqf Planning |
| M6 |
Financial Plan Construction and Professional Responsibilities |
Methods of Assessment
| Module |
Type of Exam |
| 1, 2, 3, 4 and 5 |
60 Multiple-choice Questions within 2 hours |
| 6 |
Part A: 60 Multiple-choice Questions within 3 hours
Part B: Case Analysis and Essay within 3 hours |
Investment
Candidates are responsible for tuition fee and exam fee:
| Module |
Tuition |
Exam |
| M1 |
RM 1,500 |
RM 300 |
| M2 |
RM 1,000 |
RM 300
|
| M3 |
RM 1,000 |
RM 300 |
| M4 |
RM 1,000 |
RM 300 |
| M5 |
RM 1,000 |
RM 300 |
| M6 |
RM 1,500 |
RM 300 |
| Total |
RM 7,000 |
RM 1,800 |
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