Islamic Financial Planner (IFP)
About Islamic Financial Planner (IFP)
The Islamic Financial Planner (IFP) is a training and certification programme designed especially for professionals and executives serving the retail segment of the Islamic financial market. This programme is a joint collaboration between Islamic Banking and Finance Institute Malaysia (IBFIM) and the Financial Planning Association of Malaysia (FPAM). FP has obtained Full Accreditation status by the Finance Accreditation Agency (FAA).
Be an Islamic Financial Planner
Islamic Financial Planner (IFP) is designed especially for professionals and personnel serving the retail segment of the Islamic financial products and growing demands of discerning Muslim retail clientele call for higher standards of competency and ethical practice of financial planning professionals. Equip yourself with enhanced knowledge in the personal financial advisory space.
Modules
- M1 – Shariah & Major Components of Islamic Financial Planning
- M2 – Islamic Risk Management, Estate & Waqf Planning
- M3 – Islamic Investment, Retirement, Zakat & Tax Planning
- M4 – Islamic Financial Plan Construction & Professional Responsibilities
Entry Requirements
Full Fledged (all Modules)
- Minimum requirement: Degree in any field
Challenge Status
- Certified Financial Planner (CFP) holders
- Other professional certificates e.g. Chartered Financial Analyst (CFA), Chartered Accountant (CA), Certified Islamic Finance Professional (CIFP) or equivalent with 3 years’ experience
- Bachelor’s degree holder in any discipline with 5 years of minimum experience in Islamic financial services industry.
Fees
| Module | Tuition (RM) | Exam (RM) |
| M1 – Shariah & Major Components of Islamic Financial Planning (7 days) | 1,749.00 | 400.00 |
| M2 – Islamic Risk Management, Estate & Waqf Planning (9 days) | 2,014.00 | 400.00 |
| M3 – Islamic Investment, Retirement, Zakat & Tax Planning (8 days) | 2,014.00 | 400.00 |
| M4 – Islamic Financial Plan Construction & Professional Responsibilities (4 days) | 1,802.00 | 400.00 |
| Total | 7579.00 | 1,600.00 |
| RM 9,179 | ||
| Module | Tuition (RM) | Exam (RM) |
| *Challenge Status – Shariah, Islamic Financial Plan Construction & Professional Responsibilities (6 days) | 2,332.00 | 400 |
Benefits of an Islamic Financial Planner
As an Islamic Financial Planner, with the complete knowledge, they are able to guide clients through the comprehensive financial planning process. advise clients on how they may achieve their financial goals according to Shariah requirement and Al-Falah. implement and monitor the holistic financial plan for the client.
IFP qualification is recognised
- By the SC for Capital Market Services Representative’s License for financial planning
- By BNM for Financial Adviser’s Representative license.
- The SIDC has also approved the IFP as a CPE-recognised professional qualification.
EDUCATION PROVIDER
IFP Education Provider
IBFIM
Level 5, Bangunan AICB
No. 10, Jalan Dato’ Onn
50480 Kuala Lumpur
Malaysia
IFP Learning Centre
IFPA Resources SDN BHD (IFPA)
SEGi College Subang Jaya
5th Floor, Persiaran Kewajipan USJ 1
47600 UEP Subang Jaya
Tel: 010-3130303 (Jazlena)
Email: jazlenaibrahim@segi.edu.my
Website: www.ifpa.com.my
Max Wealth Education Sdn Bhd (1160333-K)
D-05-07, Menara Mitraland, Jalan PJU 5/1
Kota Damansara 47810 Petaling Jaya
Tel: 016-2138829 / 013-2408819
Email: mwealth.edu@gmail.com
FB: https://www.facebook.com/cfp.mwe
Website: https://maxwealth-edu.my
Sabah
PRACTICAL WEALTH SDN BHD
8-1, Level 8, Suria Sabah Shopping Mall
1 Jalan Tun Fuad Stephens
88000 Kota Kinabalu, Sabah
Tel: 088-366766
Fax: 088-366501
Mobile: 010-9551800
E-mail: practical.wealth138@gmail.com
East Coast Region
Emzek Associates
B90, Aras 2, Fasa 2, Sri Dagangan
Jalan Tun Ismail
25000 Kuantan
Pahang
Tel: 09-514 6924
Fax: 09-514 6925
E-mail: info@emzekassociates.com
Penang
Life Academy – DISTED College
Yeap Chor Ee Campus
340 Macalister Road
10350 Penang
Tel: 04-2296579, 012-428 8098
Fax: 04-2266403
Email: lifeacademy@disted.edu.my
IFP FAQ
The IFP is a training and certification programme designed especially for professionals and executives serving the retail segment of the Islamic financial market. This programme is a joint collaboration between Islamic Banking and Finance Institute Malaysia (IBFIM) and the Financial Planning Association of Malaysia (FPAM).
The 4 modules of the IFP programme covering the Islamic financial planning components are:
Modules
M1 – Shariah & Major Components of Islamic Financial Planning
M2 – Islamic Risk Management, Estate & Waqf Planning
M3 – Islamic Investment, Retirement, Zakat & Tax Planning
M4 – Islamic Financial Plan Construction & Professional Responsibilities
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, BNM via a letter dated 1 Aug 2007 has endorsed IFP Modules 1 and 2 for Takaful executives and agents.
Yes, the IFP Challenge has been introduced. Candidates qualified for the IFP Challenge status will need to attend 6 days of classes and pass the Challenge Status examination. Kindly visit FPAM’s website for the application form and details.
Being a four module training programme, whereby candidates undergo 7 days for Module 1, 9 days for Module 2, 8 days for Module 3, 4 days for Module 4 or 6 days for Challenge Status. The IFP programme 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 programme and is part of FPAM continuing education (CE) courses. IFPC is a continuing professional education (CPE)-recognised professional course by Securities Industry Development Corporation (SIDC) of the Securities Commission (SC).
Candidates have to undergo 7 days for Module 1, 9 days for Module 2, 8 days for Module 3, 4 days for Module 4. A candidate can be certified as an IFP only after passing the M4 exam. The examinations are conducted twice a year in June and December. Candidates are required to register for the exam. Kindly check with FPAM for the exact dates.
To be certified as Islamic Financial Planner, the candidate is responsible for tuition and exam fees. The total fees payable for the 4 modules are RM9,275.
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.
Yes, the IFP qualification is recognised by the SC for Capital Market Services Representative’s License for financial planning and by BNM for Financial Adviser’s Representative license. The SIDC has also approved the IFP as a CPE-recognised professional qualification.
Yes, candidates must first register as a Trade Member of FPAM. The annual fee for Trade Members is RM50.
Yes, the IFP program is an Islamic finance course to produce Islamic financial planning professionals recognised by the Securities Commission and BNM.
IBFIM and FPAM have every intention to promote the IFP programme internationally.
