What is the Islamic Financial Planner (IFP) program? The Islamic Financial Planner (IFP) is a training and certification program designed especially for professionals and executives serving the retail segment of the Islamic financial market. This program is a joint collaboration between Islamic Banking and Finance Institute Malaysia (IBFIM) and Financial Planning Association of Malaysia (FPAM). KMDC is an approved education provider by FPAM for IFP. What areas of knowledge do the IFP program covers? The IFP program covers the major components of financial planning with the Islamic aspects being comprehensively integrated into each of the Islamic Financial Planner modules. What are the IFP modules? The 6 modules of the IFP program covering the Islamic financial planning components are: Islamic Financial Planner Module 1 Fundamentals of Islamic Financial Planning Module 2 Risk Management and Takaful Planning Module 3 Islamic Investment Planning Module 4 Zakat and Tax Planning Module 5 Islamic Estate and Waqf Planning Module 6 Financial Plan Construction and Professional Responsibilities What is the difference between the IFP program and FPAM’s Islamic Financial Planning Course (IFPC)? Being a 6-module training program, whereby candidates undergo more than 40 hours of training for each module, the IFP program coverage is more extensive and has more depth in comparison to the IFPC.  The IFPC (also known as Practice Module 1) was designed as an add-on to the CFP program and is part of FPAM Continuing Education courses.  IFPC is a CPE-recognised professional course by Securities Industry Development Corporation (SIDC) of SC. Are there plans to introduce a challenge status for CFP holders who want to be certified as an IFP? Yes, the IFP Challenge has been introduced.  Candidates qualified for the IFP Challenge status will need to attend classes and pass the M6 examination.  Candidates having the following professional credentials, academic qualifications and industry experience are eligible to apply for the IFP challenge status: CFP, RFP and ChFC holder Master or Doctorate degree holder in Islamic banking and finance Full-time lecturer at University teaching business, accounting or finance subjects holding at least a Master degree Bachelor degree holder in Islamic studies or from Islamic Universities with 5 years minimum working experience in the Islamic financial services industry At least a Bachelor degree holder in any discipline with 15 years minimum working experience in the Islamic financial services industry Why should Unit Trust consultants and Takaful agents be an IFP? Being certified as an Islamic Financial Planner will equip the Unit Trust consultants and Takaful agents with all the necessary knowledge to serve clients better and to become a financial advisory professional.  The IFP program sets the competency standards and ethical practices of the professionals.  In short, the consultants and agents can look forward to a fulfilling and prosperous career of being an Islamic financial planner. Also, Bank Negara Malaysia via a letter dated 1 Aug 2007 has endorsed IFP Modules 1 and 2 for Takaful executives and agents.   How long is the IFP program? A candidate can be certified as an Islamic Financial Planner only after passing the Module 6 exam.  The examinations are conducted twice a year in June and December.  Candidates are required to register for the exam.  Kindly check with FPAM or KMDC for the exact dates.   If I start at M1, how much is my investment to be certified as an IFP? To be certified as Islamic Financial Planner, the candidate is responsible for tuition and exam fees.  The total fees payable for the 6 modules are approximately RM 8,800.  Are fees paid for the IFP program eligible for tax deduction? Yes, the IFP program is an Islamic finance course to produce Islamic financial planning professionals recognised by the Securities Commission and Bank Negara Malaysia.  Must I become an FPAM member to take the IFP program? Yes, fresh candidate must register as Trade member of FPAM. The annual fee as Trade member isRM50. However, if you are already a full member of FPAM, then you do not need to pay additional fee until you are a fully certified Islamic Financial Planner, from then onwards, you will pay RM150 per annum to FPAM. Is the IFP program recognised by Securities Commission and Bank Negara Malaysia? Yes, the IFP qualification is recognised by the SC for Capital Market Services (CMS) Representative’s License for financial planning and by Bank Negara Malaysia for Financial Adviser’s Representative license.  The SIDC has also approved the IFP as a CPE-recognised professional qualification.   I provide financial advice professionally.  Do I need a license?  Yes, financial planning and advisory is a regulated industry.  Both regulators, SC and BNM, require a practitioner to hold a representative license for financial planning and financial advisory business respectively. Is the Islamic Financial Planner program recognised internationally? IBFIM and FPAM have every intention to promote the IFP program internationally.

IFP/CFP Education Provider - KMDC

1. What is KMDC and which is the largest CFP education provider in Malaysia?

KDU Management Development Centre Sdn. Bhd. - KMDC, is an education provider and training provider for working professionals and corporate in Malaysia. It is a subsidiary of Paramount Corporation and sister company of KDU College and Sri KDU Smart School. KMDC has since 2003, providing CFP Certification course to the public. Though we are not the pioneer and in fact a late comer in CFP education, we manage to achieve the Number 1 Market Leader position since 2008. KMDC's market share is still on the rise. In Klang Valley, we have over 67% market share and in whole Malaysia, 55%. This information is based on the statistics provided by FPAM as of June 2010.

2. May I know KMDC Examination results?

Yes, we are very transparent about our examination results. KMDC is also proud to announce that we constantly achieve high pass rate for CFP examination. For a consecutive of 5 examinations in the past 3 years, KMDC has achieved an average of 82% pass rate. We are also the top award winner - in 2009, out of 12 FPAM CFP Award, KMDC wins 11.

For more information on CFP examination results and awards, please click the link below:
http://www.kmdc.com.my/html/programmes/CFP_Results&Awards.html

3. Does KMDC offer any other course/programmes besides CFP and IFP?

Yes, we do. We offer a series of management development programmes, executive seminars and workshop, in-house training and other certification courses, such as Project Management. Do visit the sites below for more information:

KMDC Programme Main Page: http://www.kmdc.com.my/html/programmes/programmes_main.html

KMDC Programme Calendar: http://www.kmdc.com.my/html/programmes/prog_calendarMonth.htm

KMDC Programme Portfolio: http://www.kmdc.com.my/html/programmes/prog_calendarProgrammes.html

KMDC In-House Training/Custom Programme: http://www.kmdc.com.my/html/programmes/programmes_portforlio_Custorm&InHouse.html

4. Where are KMDC Business Office and learning centres in Malaysia located?

Business Office (for enquiry and application only):

KDU Management Development Centre
Block A, KDU University College,
76, Jalan Universiti
46200 Petaling Jaya, Selangor, Malaysia. <Location Map>
Tel: +603-7953 6969, 7953 6968; Mobile: +6012-3989030   Fax: +603-7953 6966
Business Hours: Monday - Friday 9:00am - 6:00pm
Email: start@kmdc.com.my Web site: www.kmdc.com.my
(Please note: CFP classes are conducted at our learning centre at KDU University College, Damansara Jaya Campus)

KMDC CFP Petaling Jaya Learning Centre:

KDU University College (Damansara Jaya Campus)
Level 1, SS22/41, Damansara Jaya
47400 Petaling Jaya
Selangor Darul Ehsan <Location Map>
Tel: 03-7712 3211, 012- 398 9030 Fax: 03-7712 3366, 7726 9559 Email: start@kmdc.com.my
(For all enquiries and applications, please contact our business office at KDU Section 13 Campus)