GOOD NEWS!

FOR ACCOUNTING PROFESSIONALS,

TEACHERS & STUDENTS!

CIPA Fellowship of AAOIFI

now being offered in Bangladesh

Executed by
BIPD
BANGLADESH INSTITUTE FOR PROFESSIONAL DEVELOPMENT
L I M I T E D
In quest of excellent career

as
~Education Partner~

Contact Details

Dilkusha Center (Level-9, Suite # 904), 28, Dilkusha C/A, Dhaka-1000.

Email: mortuzaalimd@yahoo.com, dg@bipdedu.org
Phone: 880-2-9559112, 01944552373

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Introduction:
Bangladesh Institute for Professional Development (BIPD) is now the only education partner of
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for promoting
Certified Islamic Professional Accountant (CIPA) course. BIPD offers this course for the first time in
Bangladesh.
About BIPD
Bangladesh Institute for Professional Development (BIPD) is an accredited training and research
institute established in 2015. It is incorporated as a legal entity under the Companies Act. The
general objective of the BIPD is to promote human capital development through conducting
training, research, education and professional development activities
About AAOIFI
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), established
in 1991 and based in Bahrain, is the leading international not-for-profit organization primarily
responsible for development of Shari’ah and Accounting standards for the global Islamic finance
industry. It is supported by more than 200 institutions in over 45 countries including central banks
and regulatory authorities In addition to standards development, and since 2007, AAOIFI has been
offering its flagship “Certified Islamic Professional Accountant (CIPA)” and “Certified Shari’ah
Advisory and Auditing (CSAA)” courses.

About CIPA
CIPA is a professional specialized certification course of AAOIFI and is designed to equip candidates
with the requisite technical understanding and professional skills on accountancy and related fields
(such as audit, risk management, governance, law, and tax) for Islamic banks, Islamic insurance and
financial institutions. The certification places greater emphasis on practical knowledge and real-
world applications (and exercises) to deliver an enhanced and optimized learning experience.

Why become a CIPA Fellow?

There are two key reasons for becoming a CIPA Fellow: for learning purpose and career
development.

CIPA offers Powerful Learning Content:

* Based on AAOIFI standards which is a product of cumulative knowledge and experience of a team of
Shari’ah Scholars, professionals, consultants, and academicians, representing 20+countries over a period
of 25+ years
* Provides valuable experience in the field of accountancy through the ‘Practical Experience Requirement’
(PER)
* Encourages multi-disciplinary learning by including, in addition to accounting, the Shari’ah, Audit, Law,
Taxation, Risks, Capital Adequacy, and Governance topics.

CIPA offers strong prospects for professional success & growth:

* Highly specialized Islamic accountancy certification as demanded by the employers in the global industry
covering ~75countries
* Backed by AAOIFI—the leading international standard-setting body for the Islamic finance industry
* Globally recognized by Regulators, Islamic financial Institutions, Professional Accounting Bodies, and
training centers

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 Registration
Eligibility Criteria: Anyone can register. However, CIPA Fellowship will be awarded to only those who have,
at minimum, an undergraduate degree or a professional qualification (exemption from criteria is available
and strictly decided on case-to-case basis).

Registration Deadlines for 2019 Exam: For December 2019 exam 4 Nov 2019

How to become a CIPA Fellow

CIPA is comprised of 4 modules: Candidate must pass all 4 modules and
*Financial Accounting & Reporting (FAR)
complete a 1-year Practical Experience
*Audit, Assurance, and Ethics (AAE)
*Business & Regulatory Environment (BRE)
Requirement (PER).
*Shari’ah Standards &Shari’ah Governance (SS&SG)
Duration 1 year
Place of PER any pre-approved Islamic Financial Institution
(IFI)
Reporting any pre-approved Supervisor
Deliverable Periodic and Final Report
Grading Pass or Fail
PER Activities &Tasks Accountancy for IFI & other negotiated tasks
PER Alternative Thesis submission. Alternative available to
candidates on case-to-case basis only.

Module and PER Exemptions Available

Exemption from Module(s)
Exemptions are offered based on either of
following requirements:
 Relevant academic degree and/or
professional qualification such as
CPA (US), CA, ACCA, etc.; or
 Relevant professional experience; or
 AAOIFI Fellowship; or
 Through University / Institutional
Collaboration
Exemption from PER
Partial 6-month Exemption from PER:
 3 years of accountancy experience in an
Islamic Financial Institution (IFI); or
 5 years of accountancy experience in a
Financial Institution (FI); or
 Membership of professional bodies which
are IFAC members with at least 1 year of
accountancy experience in a FI
Full Exemption from PER:
 More than 3 years of accountancy
experience in an IFI; or
 More than 5 years of accountancy
experience in a FI including at least 3
months of accountancy experience in an IFI;
or
 Membership of professional bodies which
are IFAC members with at least 6 months of
accountancy experience in an IFI.

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 Examinations
Examination Schedule: Modules December 2019 Duration (Hours) Format
FAR 9 3
AAE 10 1.5 MCQs
BRE 10 1.5
SS & SG 11 2
Fees & Discount
Fees & Discount: Though CIPA Fees is amounting USD 2,200 but it costs USD 1,430 only for
BANGLADESHI STUDENTS considering 35% exclusive discount rate.
CIPA Fees include following components:
Registration fee, 4 study texts, shipment and postal expenses, 4mock exams, 4 exam sittings (one
per module), PER fee, and CIPA Certificate fee.
Currency: USD Payment in 4 Installments Payment in
Full 2 Installments
Payment
Total Fee Payable by Candidate 1st 2nd 3rd 4th 1st 2nd
*Only for Bangladesh* 1430 357.5 357.5 357.5 357.5 715 715
Additional fees include:
Late Registration Fee USD 100 per module
Exam Re-sit Fee USD 200 per module
Exam Re-check Fee USD 100 per module
Annual Fellowship Fee USD 100
* Other fees may also apply

CIPA Fellowship
AAOIFI awards CIPA Fellowship to candidates who meet the following criteria:
* Pass all 4 modules;
* Get a passing grade in PER;
* Fulfill the Eligibility criteria for registration;
* Settle all dues, if any; and
* Pay the annual Fellowship Fee
Retaining CIPA Fellowship provides the following benefits:
* Prestige by using letters ‘CIPA’ after your name;
* Global recognition of knowledge, skills, experience, and ethics by IFIs;
* Boost in career enhancement opportunities;
* Preferential AAOIFI training fees, for purchase of publications, and for registration to conferences
* Free online access to AAOIFI Standards;
* More benefits to be announced on continual basis

Contact Address
Dilkusha Center (Level-9, suite # 904), 28, Dilkudha C/A, Dhaka-1000. Phone: 880-2-9559112
Email: mortuzaalimd@yahoo.com , dg@bipdedu.org.Web :www.bipdedu.org and www.aaoifi.com
Course Coordinator : Ms. Amira Sayeeda
Mobile # 01944552373 Email ID # info@bipdedu.org; dg@bipdedu.org

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