Certified Expert in Islamic Microfinance
Your next career step starts here
Gain the skills to combine microfinance practices with Islamic finance principles. Learn how to design Sharia-compliant products, improve access to credit and savings, and apply AAOIFI standards to deliver ethical and sustainable financial solutions.
Next start date
Duration
Language
Format
Type of education
Early Bird Price
Gain the skills to combine microfinance practices with Islamic finance principles. Learn how to design Sharia-compliant products, improve access to credit and savings, and apply AAOIFI standards to deliver ethical and sustainable financial solutions.
Your Benefits
This programme gives you the tools to bridge microfinance with Islamic finance and create impact in underserved markets.
- Learn to design and deliver Sharia-compliant financial products.
- Gain practical skills aligned with AAOIFI industry standards.
- Build expertise to expand access to credit and savings ethically.
- Strengthen your career in the fast-growing field of Islamic microfinance.
- Gain an accredited certification (3 ECTS credits)
Target group
Discounts
Register by 15 January 2026 and secure the early bird discount. Regular price after this date: EUR 900.
DISCOUNTS AVAILABLE
- Early bird discount (by January 15)
- 10% group discount
- 10% alumni discount
Contact us for combinable discounts
Register by 15 January 2026 and secure the early bird discount. Regular price after this date: EUR 900.
DISCOUNTS AVAILABLE
- Early bird discount (by January 15)
- 10% group discount
- 10% alumni discount
Contact us for combinable discounts
REGISTRATION
REGISTRATION
01 March 2026 - 31 August 2026
METHODOLOGY
Our self-paced, asynchronous online courses are built for professionals who want to upskill on their own time, without putting work on hold. Our courses deliver international expertise and hands-on tools you can apply immediately.
- Flexible, study anytime, anywhere
- Practical learning, real-world examples
- Expert support when you need it
- Optional live sessions (also recorded, of course)
Join a global community of professionals who are advancing their careers with flexible, high-quality learning.
CONTENTS
The course also examines the practical design and delivery of Islamic microfinance products, showing how ethical principles can be translated into inclusive financial solutions for diverse markets. Developed by experts from the Frankfurt School of Finance and Management, Islamic Relief Worldwide, and the Humanitarian Academy for Development with support from UK aid, the programme combines global expertise with practical application to give you a complete overview of Islamic microfinance.
OUR PARTNER
COURSE OUTLINE
Overview of Islamic Economics & Microfinance System
The underlying principles are different from conventional finance. It is against this backdrop that all Islamic financial transactions involve a form of trading, leasing and investment activities. These Islamic financial transactions are primarily based on instruments that are agreed upon by the majority of scholars.
The opening unit for the course is critical in establishing the overall parameters of the CEIM qualification. It seeks to provide a high-level overview of the philosophy/ontology underpinning Islamic economics & finance and the key constituent elements such as legal principles, institutions and products. Course participants will learn to:
1. Examine the principles and history of Islamic economics and finance, evaluate the concepts of Sharia-based and Sharia-compliant finance and reflect on its critiques
2. Distinguish between conventional debt-financing and the key Islamic financing mechanisms
3. Recognise the fundamentals of Islamic Commercial/Contract Law
4. Identify the key Islamic Financial Products
5. Explain the strengths and weaknesses of the Islamic finance industry, its key actors, stakeholders, and the role of the Islamic microfinance sector.
The Microfinance Contracts & Transaction Agreements (Part 1)
In unit 2, the concepts and Islamic financial instruments of Qard (loan), trade based debt instruments such as Murabaha, Salam, Istisna’a, and lease based instruments such as Ijarah are covered. These instruments are defined and further elaborated with their concrete application as modern microfinance tools. Course participants will learn to:
1. Assess the difference between Islamic loan, trade, lease-based transactions and interest-bearing instruments
2. Examine the Sharia rules for Qard Hassan, Murabaha, Salam, Istisna’a and Ijarah based on the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
3. Evaluate and apply the key contractual elements for a valid transaction as microfinancing tools
4. Recognise the practicalities and limitations of application within the sector.
The Microfinance Contracts & Transaction Agreements (Part 2)
For the majority of the scholars, equity-based financing or Partnership-based financing is the preferred Islamic finance instrument. This is based on the fundamental principle of interest-free banking.
Unit 3 will demonstrate how profit & loss sharing, equity investments and venture capital instruments are used in the Islamic microfinance sector. Course participants will learn to:
1. Explain the concept of Musharaka in Islamic transactions and understand the different types of Partnership
2. Examine the Sharia rules for Musharaka & Mudaraba based on the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
3. Explain the use of Musharaka contracts in modern corporations
4. Explain how Musharaka & Mudaraba are used in modern Islamic banking
5. Evaluate and apply the key contractual elements for a valid transaction as microfinancing tools
6. Recognise the practicalities and limitations of application within the sector.
Managing Islamic Microfinancing
Course participants will learn to:
1. Analyse the difference between individual and group financing models and identify the operational and Sharia challenges
2. Explain the financing cycle from appraisal, disbursement to recovery
3. Apply key client appraisal techniques, carry out critical client financial analysis and calculate repayment/profit sharing ratios and schedules
4. Identify key characteristics of and employ best practice processes for financing decision-making
5. Identify the efficacy of financing management techniques within an Islamic economic framework, including different approaches to collateralisation, monitoring and the handling of delinquency.
Risk Management in Islamic Microfinance Institutions
This unit will introduce the idea of risk management and mitigation, and discuss in particular key operational, financial and Sharia risks. It will further discuss the concept of portfolio management and introduce a number of key metrics to assess the riskiness of various Islamic financing tools and how they are mitigated operationally. Course participants will learn to:
1. Distinguish between operational and financial risks and to explain the concept of risk governance
2. Examine different operational risks and identify appropriate mitigation strategies, including internal controls
3. Examine different financial risks and identify appropriate mitigation strategies
4. Appraise portfolio risks and calculate metrics for risk measurement
5. Identify appropriate portfolio risk mitigation strategies, including loan loss provisioning.
Regulatory, Governance and Sharia Compliance Framework for Islamic Microfinance
A general overview of regulatory dimensions for microfinance, although these vary from jurisdiction to jurisdiction, will be provided, with specific attention to I-MFIs operating outside regulatory frameworks that recognise Islamic financing.
The concept of Sharia compliance will be discussed and the implications for management and governance in line with the industry best practices and according to the Standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will be outlined. Course participants will learn to:
1. Differentiate between different corporate governance requirements for the different types of Islamic MFIs
2. Identify the particular regulatory dimensions of relevance to Islamic MFIs (subject to in-country jurisdiction) and recognise their implications for corporate governance
3. Outline the role and importance of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB)
4. Identify Shariah non-compliance risks, the pillars of Shariah Governance and technicalities of Shariah audit in the Islamic microfinance arena.
5. Differentiate between various types of Shariah audits, reviews, and compliance tests with the aim of enabling participants to gain a better understanding of the nature and the operations of how Shariah non-compliance risks can be managed.
Financial and Social Performance Management
For Islamic MFIs, whilst cost-coverage or even profitability cannot be achieved through sustainable interest rates, it is nevertheless important to measure and manage their financial performance. Moreover, since Islamic MFIs work with financially excluded and economically vulnerable groups and often have avowed poverty-reduction objectives, socially responsible lending is imperative for their long-term economic viability and impact. Therefore, the concept of social performance and measurements for social performance management are introduced. Course participants will learn to:
1. Examine institutional financial reports such as balance sheets & income statements and apply financial ratios to measure various financial performance indicators
2. Examine portfolio reports and evaluate the efficacy of certain indicators to measure financial performance
3. Identify key social performance indicators and appraise some of the key social performance standards
4. Describe the salient features of ethical, social responsibility and impact investment and its potential for the Islamic microfinance sector
5. Apply tools to manage financial and social performance
COURSE OUTLINE
Overview of Islamic Economics & Microfinance System
The underlying principles are different from conventional finance. It is against this backdrop that all Islamic financial transactions involve a form of trading, leasing and investment activities. These Islamic financial transactions are primarily based on instruments that are agreed upon by the majority of scholars.
The opening unit for the course is critical in establishing the overall parameters of the CEIM qualification. It seeks to provide a high-level overview of the philosophy/ontology underpinning Islamic economics & finance and the key constituent elements such as legal principles, institutions and products. Course participants will learn to:
1. Examine the principles and history of Islamic economics and finance, evaluate the concepts of Sharia-based and Sharia-compliant finance and reflect on its critiques
2. Distinguish between conventional debt-financing and the key Islamic financing mechanisms
3. Recognise the fundamentals of Islamic Commercial/Contract Law
4. Identify the key Islamic Financial Products
5. Explain the strengths and weaknesses of the Islamic finance industry, its key actors, stakeholders, and the role of the Islamic microfinance sector.
The Microfinance Contracts & Transaction Agreements (Part 1)
In unit 2, the concepts and Islamic financial instruments of Qard (loan), trade based debt instruments such as Murabaha, Salam, Istisna’a, and lease based instruments such as Ijarah are covered. These instruments are defined and further elaborated with their concrete application as modern microfinance tools. Course participants will learn to:
1. Assess the difference between Islamic loan, trade, lease-based transactions and interest-bearing instruments
2. Examine the Sharia rules for Qard Hassan, Murabaha, Salam, Istisna’a and Ijarah based on the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
3. Evaluate and apply the key contractual elements for a valid transaction as microfinancing tools
4. Recognise the practicalities and limitations of application within the sector.
The Microfinance Contracts & Transaction Agreements (Part 2)
For the majority of the scholars, equity-based financing or Partnership-based financing is the preferred Islamic finance instrument. This is based on the fundamental principle of interest-free banking.
Unit 3 will demonstrate how profit & loss sharing, equity investments and venture capital instruments are used in the Islamic microfinance sector. Course participants will learn to:
1. Explain the concept of Musharaka in Islamic transactions and understand the different types of Partnership
2. Examine the Sharia rules for Musharaka & Mudaraba based on the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
3. Explain the use of Musharaka contracts in modern corporations
4. Explain how Musharaka & Mudaraba are used in modern Islamic banking
5. Evaluate and apply the key contractual elements for a valid transaction as microfinancing tools
6. Recognise the practicalities and limitations of application within the sector.
Managing Islamic Microfinancing
Course participants will learn to:
1. Analyse the difference between individual and group financing models and identify the operational and Sharia challenges
2. Explain the financing cycle from appraisal, disbursement to recovery
3. Apply key client appraisal techniques, carry out critical client financial analysis and calculate repayment/profit sharing ratios and schedules
4. Identify key characteristics of and employ best practice processes for financing decision-making
5. Identify the efficacy of financing management techniques within an Islamic economic framework, including different approaches to collateralisation, monitoring and the handling of delinquency.
Risk Management in Islamic Microfinance Institutions
This unit will introduce the idea of risk management and mitigation, and discuss in particular key operational, financial and Sharia risks. It will further discuss the concept of portfolio management and introduce a number of key metrics to assess the riskiness of various Islamic financing tools and how they are mitigated operationally. Course participants will learn to:
1. Distinguish between operational and financial risks and to explain the concept of risk governance
2. Examine different operational risks and identify appropriate mitigation strategies, including internal controls
3. Examine different financial risks and identify appropriate mitigation strategies
4. Appraise portfolio risks and calculate metrics for risk measurement
5. Identify appropriate portfolio risk mitigation strategies, including loan loss provisioning.
Regulatory, Governance and Sharia Compliance Framework for Islamic Microfinance
A general overview of regulatory dimensions for microfinance, although these vary from jurisdiction to jurisdiction, will be provided, with specific attention to I-MFIs operating outside regulatory frameworks that recognise Islamic financing.
The concept of Sharia compliance will be discussed and the implications for management and governance in line with the industry best practices and according to the Standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will be outlined. Course participants will learn to:
1. Differentiate between different corporate governance requirements for the different types of Islamic MFIs
2. Identify the particular regulatory dimensions of relevance to Islamic MFIs (subject to in-country jurisdiction) and recognise their implications for corporate governance
3. Outline the role and importance of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB)
4. Identify Shariah non-compliance risks, the pillars of Shariah Governance and technicalities of Shariah audit in the Islamic microfinance arena.
5. Differentiate between various types of Shariah audits, reviews, and compliance tests with the aim of enabling participants to gain a better understanding of the nature and the operations of how Shariah non-compliance risks can be managed.
Financial and Social Performance Management
For Islamic MFIs, whilst cost-coverage or even profitability cannot be achieved through sustainable interest rates, it is nevertheless important to measure and manage their financial performance. Moreover, since Islamic MFIs work with financially excluded and economically vulnerable groups and often have avowed poverty-reduction objectives, socially responsible lending is imperative for their long-term economic viability and impact. Therefore, the concept of social performance and measurements for social performance management are introduced. Course participants will learn to:
1. Examine institutional financial reports such as balance sheets & income statements and apply financial ratios to measure various financial performance indicators
2. Examine portfolio reports and evaluate the efficacy of certain indicators to measure financial performance
3. Identify key social performance indicators and appraise some of the key social performance standards
4. Describe the salient features of ethical, social responsibility and impact investment and its potential for the Islamic microfinance sector
5. Apply tools to manage financial and social performance
COURSE OUTLINE
Overview of Islamic Economics & Microfinance System
The underlying principles are different from conventional finance. It is against this backdrop that all Islamic financial transactions involve a form of trading, leasing and investment activities. These Islamic financial transactions are primarily based on instruments that are agreed upon by the majority of scholars.
The opening unit for the course is critical in establishing the overall parameters of the CEIM qualification. It seeks to provide a high-level overview of the philosophy/ontology underpinning Islamic economics & finance and the key constituent elements such as legal principles, institutions and products. Course participants will learn to:
1. Examine the principles and history of Islamic economics and finance, evaluate the concepts of Sharia-based and Sharia-compliant finance and reflect on its critiques
2. Distinguish between conventional debt-financing and the key Islamic financing mechanisms
3. Recognise the fundamentals of Islamic Commercial/Contract Law
4. Identify the key Islamic Financial Products
5. Explain the strengths and weaknesses of the Islamic finance industry, its key actors, stakeholders, and the role of the Islamic microfinance sector.
The Microfinance Contracts & Transaction Agreements (Part 1)
In unit 2, the concepts and Islamic financial instruments of Qard (loan), trade based debt instruments such as Murabaha, Salam, Istisna’a, and lease based instruments such as Ijarah are covered. These instruments are defined and further elaborated with their concrete application as modern microfinance tools. Course participants will learn to:
1. Assess the difference between Islamic loan, trade, lease-based transactions and interest-bearing instruments
2. Examine the Sharia rules for Qard Hassan, Murabaha, Salam, Istisna’a and Ijarah based on the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
3. Evaluate and apply the key contractual elements for a valid transaction as microfinancing tools
4. Recognise the practicalities and limitations of application within the sector.
The Microfinance Contracts & Transaction Agreements (Part 2)
For the majority of the scholars, equity-based financing or Partnership-based financing is the preferred Islamic finance instrument. This is based on the fundamental principle of interest-free banking.
Unit 3 will demonstrate how profit & loss sharing, equity investments and venture capital instruments are used in the Islamic microfinance sector. Course participants will learn to:
1. Explain the concept of Musharaka in Islamic transactions and understand the different types of Partnership
2. Examine the Sharia rules for Musharaka & Mudaraba based on the standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
3. Explain the use of Musharaka contracts in modern corporations
4. Explain how Musharaka & Mudaraba are used in modern Islamic banking
5. Evaluate and apply the key contractual elements for a valid transaction as microfinancing tools
6. Recognise the practicalities and limitations of application within the sector.
Managing Islamic Microfinancing
Course participants will learn to:
1. Analyse the difference between individual and group financing models and identify the operational and Sharia challenges
2. Explain the financing cycle from appraisal, disbursement to recovery
3. Apply key client appraisal techniques, carry out critical client financial analysis and calculate repayment/profit sharing ratios and schedules
4. Identify key characteristics of and employ best practice processes for financing decision-making
5. Identify the efficacy of financing management techniques within an Islamic economic framework, including different approaches to collateralisation, monitoring and the handling of delinquency.
Risk Management in Islamic Microfinance Institutions
This unit will introduce the idea of risk management and mitigation, and discuss in particular key operational, financial and Sharia risks. It will further discuss the concept of portfolio management and introduce a number of key metrics to assess the riskiness of various Islamic financing tools and how they are mitigated operationally. Course participants will learn to:
1. Distinguish between operational and financial risks and to explain the concept of risk governance
2. Examine different operational risks and identify appropriate mitigation strategies, including internal controls
3. Examine different financial risks and identify appropriate mitigation strategies
4. Appraise portfolio risks and calculate metrics for risk measurement
5. Identify appropriate portfolio risk mitigation strategies, including loan loss provisioning.
Regulatory, Governance and Sharia Compliance Framework for Islamic Microfinance
A general overview of regulatory dimensions for microfinance, although these vary from jurisdiction to jurisdiction, will be provided, with specific attention to I-MFIs operating outside regulatory frameworks that recognise Islamic financing.
The concept of Sharia compliance will be discussed and the implications for management and governance in line with the industry best practices and according to the Standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will be outlined. Course participants will learn to:
1. Differentiate between different corporate governance requirements for the different types of Islamic MFIs
2. Identify the particular regulatory dimensions of relevance to Islamic MFIs (subject to in-country jurisdiction) and recognise their implications for corporate governance
3. Outline the role and importance of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB)
4. Identify Shariah non-compliance risks, the pillars of Shariah Governance and technicalities of Shariah audit in the Islamic microfinance arena.
5. Differentiate between various types of Shariah audits, reviews, and compliance tests with the aim of enabling participants to gain a better understanding of the nature and the operations of how Shariah non-compliance risks can be managed.
Financial and Social Performance Management
For Islamic MFIs, whilst cost-coverage or even profitability cannot be achieved through sustainable interest rates, it is nevertheless important to measure and manage their financial performance. Moreover, since Islamic MFIs work with financially excluded and economically vulnerable groups and often have avowed poverty-reduction objectives, socially responsible lending is imperative for their long-term economic viability and impact. Therefore, the concept of social performance and measurements for social performance management are introduced. Course participants will learn to:
1. Examine institutional financial reports such as balance sheets & income statements and apply financial ratios to measure various financial performance indicators
2. Examine portfolio reports and evaluate the efficacy of certain indicators to measure financial performance
3. Identify key social performance indicators and appraise some of the key social performance standards
4. Describe the salient features of ethical, social responsibility and impact investment and its potential for the Islamic microfinance sector
5. Apply tools to manage financial and social performance
STUDY JOURNEY
Register
Participate
Pass the Exam
Get Certified
MODULE OF
Master of Leadership in Sustainable Finance
Benefit from an Alumni discount and have the course credited when you continue to the Master of Leadership in Sustainable Finance.
Diploma in Financial Inclusion
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Financial Inclusion.
Diploma in Green Finance
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Green Finance.
Diploma in Risk Management
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Risk Management.
MODULE OF
Master of Leadership in Sustainable Finance
Benefit from an Alumni discount and have the course credited when you continue to the Master of Leadership in Sustainable Finance.
Diploma in Financial Inclusion
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Financial Inclusion.
Diploma in Green Finance
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Green Finance.
Diploma in Risk Management
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Risk Management.
MODULE OF
Master of Leadership in Sustainable Finance
Benefit from an Alumni discount and have the course credited when you continue to the Master of Leadership in Sustainable Finance.
Diploma in Financial Inclusion
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Financial Inclusion.
Diploma in Green Finance
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Green Finance.
Diploma in Risk Management
Benefit from an Alumni discount and have the course credited when you continue to the Diploma in Risk Management.
