Complete IFP® Full-Fledged Program

Learning Outcomes

• Illustrate the Shariah principles and applications relating to Islamic financial planning.
• Relate the financial planning industry and its regulatory structure.
• Classify the differences between Islamic and conventional financial planning components.
• Analyse the case study.

DAY 1

• Introduction to Shariah and Fiqh
• Rule-Making Process in Islamic Law (Ijtihad)
• Overview of Fiqh al-Muamalat al-Maliyyah
• The Main Theories of Muamalat Contracts

DAY 2

• Permissible Contracts in Islam
• Concept of Financial Planning from Shariah Perspectives
• Introduction to Financial Planning and the Financial Planning Industry
• Basics of Islamic Financial Planning

DAY 3

• Introduction to Risk Management
• Introduction to Takaful
• Introduction to Insurance
• Key Differences between Insurance and Takaful

DAY 4

• Shariah Concepts and Guidelines in Islamic Investment
• Basics of Investment
• Key Concepts of Investment
• Approaching an Investment

DAY 5

• Fiqh uz Zakah
• Administration and Economic Aspects of Zakat
• Introduction to Income Tax Planning
• Zakat Management and Tax Planning

DAY 6

• Introduction to Islamic Legacy Planning
• Components in Islamic Legacy Planning
• Understanding the Legacy Administration Process
• Understanding Waqf Planning

DAY 7

• Introduction to Retirement Planning
• Retirement Planning: The Ultimate Priority
• Financial Plan Construction: Introduction to Basic Case Study

Learning Outcomes

• Compare the takaful business models adopted in the takaful industry.
• Illustrate the main features of takaful products.
• Advise clients on Islamic estate planning practices and use the planning tools effectively.
• Identify the regulatory framework governing waqf establishment and select suitable structures and methods for clients.
• Assist clients to plan and execute structured succession planning that is Shariah-compliant.

DAY 1

• Regulatory and Industry Structure of Insurance and Takaful
• Responsibilities of a Takaful Agent
• Introduction to General Takaful
• General Takaful Products

DAY 2

• Introduction to Family Takaful
• Operational Aspects of Family Takaful
• Family Takaful Products
• Medical and Health Takaful

DAY 3

• Investment-Linked Takaful
• Introduction to Business Takaful
• Business Takaful for Sole Proprietorship, Partnership and Limited Liability Partnership

DAY 4

• Business Takaful for Limited and Private Limited Companies
• Retakaful
• Marketing and Services, Ethics and Code of Conduct
• Analysis of Clients' Takaful Needs

DAY 5

• Key Objectives in Legacy Planning
• Key Differences between Islamic and Conventional Legacy Planning
• Legal Framework of Estate Administration

DAY 6

• Faraid
• Wills
• Hibah
• Matrimonial Assets

DAY 7

• Trust
• Power of Attorney (PA)
• Steps in Planning Your Estate

DAY 8

• Issues in Islamic Estate Planning
• Basics of Waqf
• Shariah Views on the Importance of Creating a Waqf
• Role of Waqf in Society

DAY 9

• Regulatory Framework of Waqf
• A Holistic Approach and the Time Horizon Perspective
• Succession Planning
• Issues and Challenges in Estate, Waqf and Succession Planning

Learning Outcomes

• Advise clients on the key concepts of Islamic investment and its products.
• Advise clients on the importance of a retirement plan and the options available in the market.
• Demonstrate an understanding of zakat and wealth, and the zakat legal framework within Islamic economics.
• Advise clients on the responsibility to pay income tax and methods of planning for individuals with or without business income.

DAY 1

• Mastering Financial Calculation
• Financial Statement Analysis
• Diagnosis of Financial Status
• Application of TVM

DAY 2

• Market Cycle Analysis
• Structuring an Investment Portfolio
• Managing and Monitoring a Portfolio Investment

DAY 3

• Shariah-Compliant Unit Trust and Managed Funds
• Shariah-Compliant Securities
• Shariah-Compliant Structured Products and Derivatives
• Islamic Business Venture
• Alternative Shariah-Compliant Instruments

DAY 4

• Concepts in Retirement Planning
• Employees Provident Fund (EPF)
• Private Retirement Scheme (PRS)
• Planning for Your Retirement

DAY 5

• Zakat on Wealth (al-Mal)
• Zakat on Business (Tijarah)
• Zakat Assessment

DAY 6

• Accounting for Zakat
• Comparative Studies on Zakat Authority: Case Studies
• Introduction to Income Tax
• Individual with Employment Income

DAY 7

• Individual with Business Income
• Tax Computation
• Introduction to the Self-Assessment System

DAY 8

• Contemporary Issues
• Understanding Sales and Services Tax (SST)
• Tax Planning for Individuals
• Correlations between the Zakat and Taxation Systems

Learning Outcomes

• Evaluate the principles of Islamic ethical values and compliance in Islamic financial planning.
• Construct and strategise a holistic Islamic financial plan.
• Formulate and execute the implementation and review process of the plan as an ongoing advisory service.

DAY 1

• Putting Ethical Values into Practice
• Financial Planning Construction (E-G-A)

DAY 2

• Islamic Financial Solution Formulation (D): Cash Flow and Liability Management
• Islamic Financial Solution Formulation (D): Islamic Risk Management

DAY 3

• Islamic Financial Solution Formulation (D): Islamic Investment
• Islamic Financial Solution Formulation (D): Retirement
• Islamic Financial Solution Formulation (D): Zakat and Income Tax

DAY 4

• Islamic Financial Solution Formulation (D): Islamic Legacy Planning
• Plan Recommendation, Implementation and Review (I-M)