Certified Shari’ah Advisor and Auditor (CSAA)
“CSAA” stands for Certified Shari’ah Advisor and Auditor and it’s one of the two fellowship programs offered by the AAOIFI. It was launched in 2006 and currently undergoing a revamping exercise.
CSAA is a professional fellowship in Shari’ah Advisory and Shari’ah Auditing. It is designed to equip candidates with the requisite technical understanding and professional skills on Shari’ah compliance and review processes for international Islamic banks and financial institutions.
The fellowship places greater emphasis on practical knowledge and real-world applications (and exercises) to deliver an enhanced and optimized learning experience.
Objectives of CSAA
Through the CSAA program, candidates will gain advanced knowledge in:
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the Shari’ah requirements for different contracts, products, and services used in Islamic finance;
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roles and functions of various Shari’ah compliance and review processes in financial institutions;
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collaboration between a financial institution’s Shari’ah Supervisory Board (SSB) and its internal Shari’ah compliance and review processes;
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mechanism to ensure Shari’ah compliance in accordance to resolutions and fatwas (Scholars’ rulings) issued by SSB;
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technical review of banking and financial operations to determine Shari’ah compliance; and
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establishing the foundations to gain stakeholders’ trust and confidence in a financial institution’s adherence to Shari’ah.
Reasons for pursuing the CSAA fellowship
After successfully passing CSAA exam, you will become a CSAA fellow. You stand to gain the following benefits by joining a strong group of CSAA fellows worldwide:
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prestige by using the title ‘CSAA’ after your name;
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publication of your name and short profile on AAOIFI website;
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recognition from IFIs and regulators;
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boost in career opportunities;
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preferential rates for AAOIFI workshop, publications, and events; and
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free online access to AAOIFI standards
Course information
The CSAA curriculum comprise of the following:
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Shari’ah standards from SS 1-48 (as listed below); and
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Shari’ah governance standards GSIFI 1-4
The list of AAOIFI Shari’ah standards (1-48) included in the CSAA program are as follows:
| Trading in Currencies | المتاجرة في العملات |
| Debit Card, Charge Card and Credit Card | بطاقة الحسم وبطاقة الائتمان |
| Default in Payment by a Debtor | المدين المماطل |
| Settlement of Debt by Set-Off | المقاصة |
| Guarantees | الضمانات |
| Conversion of a Conventional Bank to an Islamic Bank | تحول البنك التقليدي إلى مصرف إسلامي |
| Hawala | الحوالة |
| Murabaha to the Purchase Orderer | المرابحة للآمر بالشراء |
| Ijarah and Ijarah Muntahia Bittamleek | الإجارة والإجارة المنتهية بالتمليك |
| Salam and Parallel Salam | السلم والسلم الموازي |
| Istisna’a and Parallel Istisna’a | الاستصناع والاستصناع الموازي |
| Sharika (Musharaka) and Modern Corporations | الشركة (المشاركة) والشركات الحديثة |
| Mudaraba | المضاربة |
| Documentary Credit | الاعتمادات المستندية |
| Jua’la | الجعالة |
| Commercial Papers | الأوراق التجارية |
| Investment Sukuk | صكوك الاستثمار |
| Possession(Qabd) | القبض |
| Loan (Qard) | القرض |
| Commodities in Organised Markets | بيوع السِّلع في الأسواق المنظمة |
| Financial Papers (Shares and Bonds) | الأوراق المالية (الأسهم والسندات) |
| Concession Contracts | عقود الامتياز |
| Agency | الوكالة وتصرف الفضولي |
| Syndicated Financing | التمويل المصرفي المجمع |
| Combination of Contracts | الجمع بين العقود |
| Islamic Insurance | التأمين الإسلامي |
| Indices | المؤشرات |
| Banking Services | الخدمات المصرفية في المصارف الاسلامية |
| Stipulations and Ethics of Fatwa in the Institutional Framework | ضوابط الفتوى وأخلاقياتها في إطار المؤسسات |
| Monetization (Tawarruq) | التورق |
| Controls on Gharar in Financial Transactions | ضابط الغرر المفسد للمعاملات المالية |
| Arbitration | التحكيم |
| Waqf | الوقف |
| Hiring of Persons | إجارة الأشخاص |
| Zakah | الزكاة |
| Impact of Contingent Incidents on Commitments | العوارض الطارئة على الالتزامات |
| Credit Agreement | الاتفاقية الائتمانية |
| Online Financial Dealings | التعاملات المالية بالانترنت |
| Mortgage and its Contemporary Applications | الرهن وتطبيقاته المعاصرة |
| Distribution of Profit in Mudarabah-based Investments Accounts | الحسابات الاستثمارية وتوزيع الربح |
| Islamic Reinsurance | إعادة التأمين |
| Disposal of Rights | الحقوق المالية والتصرف فيها |
| Bankruptcy | الإفلاس |
| Liquidity Management | إدارة السيولة |
| Capital Protection (in Investment Products) | حماية رأس المال والاستثمارات |
| Investment Agency | الوكالة بالاستثمار |
| Stipulations on Income and Profit (in Financial Transactions) | ضوابط حساب ربح المعاملات |
| Options in Legal Contracts | خيارات الامانة |
The list of AAOIFI governance standards (1-4) included in the CSAA program are as follows:
| GS 1 - Shari’ah Supervisory Board- Appointment, Composition and Report | تعيين هيئة الرقابة الشرعية وتكوينها وتقريرها |
| GS 2 - Shari’ah Review | الرقابة الشرعية |
| GS 3 - Internal Shari’ah Review | الرقابة الشرعية الداخلية |
| GS 4 - Audit and Governance Committee for Islamic Financial Institutions | لجنة المراجعة والحوكمة للمؤسسات المالية الإسلامية |
| Exam language | English and Arabic |
| Total no. of questions on final exam | 100 questions |
| Type of questions | Multiple-Choice-Questions (MCQs) and True/False Questions |
| Examination mode | Computer-based examination (CBE). All exams will take place at an AAOIFI approved exam centre |
| Exam duration | 3 hours |
| Mock Exam | To be provided to registered candidates only |
| Passing Percentage | 70% |
| Candidates based in GCC | USD 1,200/- |
| Candidates outside of GCC | USD 800 (discount of ~33%) |
CSAA fee is inclusive of the: Registration fee, PDF of the study text, shipment and postal expenses, 1 mock exam, 1 Exam sitting, and CSAA certificate fee.
Additional fees include:
| Exam re-sit fee | USD 200 |
| Exam re-check fee | USD 100 |
| Annual fellowship fee | USD 100 (a 60% discount is applied on second membership fee if candidate is both CIPA and CSAA fellow at the same time) |
| Replacement of CSAA certificate | USD 100 + postal expenses |
| 1. | Apply for CIPA | Click Here |
| 2. | Apply for CSAA | Click Here |
| 2. | Apply for FAS | Click Here |
Registration to the CSAA program is open to all. However, CSAA fellowship will be awarded to only those who have, at minimum, an undergraduate degree / professional qualification.
Please download and complete the application.
APPLICATION DEADLINE
| Examination date | DEADLINE |
| 15 MARCH 2023 | 18 February 20233 |
| 21 June 2023 | 19 May 2023 |
| 20 September 2022 | 19 August 2023 |
NOTE
Registration dates, as well as examination dates, are subject to change due to unforeseen circumstance or event with prior notice.
