With footprints in over 57 jurisdictions, the current global volume of Islamic finance is valued at US$ 3.06 trillion (2021), with the asset’s growth of 11.3 per cent (y-o-y). The projected total asset value for the global Islamic finance markets will amount to US$ 3.69 trillion by 2024/25. Saudi Arabia, Malaysia, and Iran are leaders in Islamic finance, contributing a significant share of the world’s Islamic financial assets. Malaysia, Iran, and the GCC region hold approximately 85 per cent of the global Islamic banking and financial assets. However, the significance of Islamic finance is acknowledged worldwide, including in European and non-Muslim countries striving to capture a piece of the pie.

Organisations yearly need 15,000+ professionals who understand the laws and applications of Islamic finance in real life. This talent gap cannot adequately be filled with fresh or experienced bankers with conventional educational backgrounds. Instead, the industry needs a leadership stream through authentic Shari'ah scholars equipped with in-depth Islamic fiscal knowledge and creative, practical expertise. With the growth of new economies and the rise of global markets, business schools are expanding the conventional method of teaching economics and finance. Today’s varied and fluctuating markets call for finance professionals who are flexible in their approach and knowledgeable of different financial models. The same is needed in the case of the Shari'ah skill set.

Realising this need, Whitethread Institute is launching Certification in Islamic Finance for Shariah Scholars (CIFSS). It is an intermediary-level qualification to help produce highly skilled Shariah scholars who can fulfil the market demands. The program has been customised solely for fresh Shariah graduates to provide them with theoretical and applied knowledge of Islamic finance, Islamic fiscal jurisprudence, banking, takaful and economics. The program graduates could have promising career prospects in academia and the local and international Islamic finance industry.

This core online weekly course emphasises fundamental knowledge of Islamic banking products and services, including their operations. The course will thoroughly explain and discuss AAOIFI Shari‘ah standards in terms of the background of establishment, development, underlying principles, and application. Regarding application, both international and national case studies will be intensively discussed. Consequently, this course exposes traditional ulama kiram on associated risks and contemporary Shari'ah issues concerning Islamic banking products and services that may lead to their exploration of Islamic banking product enhancement and innovation.


Dr Mufti Muhammad Wasie Fasih Butt


Once a week for 3 Months

Course Start Date



Online (Recordings of the live sessions will ONLY be available for the duration of the course)

Study Requirements 

3 hours of online class per week

8 hours self-study per week

Eligibility Criterion 

Shariah graduated from a recognized madrasa or higher education institution



Course Fee

£99.99 for a limited time only!

Certificate Awarded

Upon successful completion of the course, students will be awarded a Certification in Islamic Finance for Shariah Scholars  (CIFSS)

*Every effort has been made to ensure that the information contained within this course is correct at the time of publication. Courses are subject to ongoing development, which could necessitate cancelling or altering the advertised courses.

Who should attend this course?

  • Members of Darul Iftas (Shariah scholars with a qualification in Islamic jurisprudence and fatwa writing experience)

  • Muftis, having completed takhassus level education.

  • 'Ulama', 'Alimat & advanced students of Shariah.

Course Objectives

This course aims:

  • To cultivate a new generation of scholars who would like to make their career in this field and serve the Ummah by proving guidance and advisory to the banks, financial institutions and businesses, thus playing a key role in fulfilling the world’s growing demand for the provision of sharia’a compliant financial services.

  • To enable madrasa students to appreciate how classical Islamic financial contracts have been adapted to cater to the complexities of modern business and commerce.

  • To give a practical exposure to the scholars on implementation of Islamic finance concepts in corporate scenarios and especially in professional management of finances for businesses in a Sharia’h compliant way.

  • To outline the challenges faced in transformation of the Islamic banking sector and Islamic finance industry from corrective model to creative model.

  • To provide such a learning experience to the participants, which will equip them with the required skills to explore the fast-growing field of Islamic banking and finance.

  • Understand the distinguishing features of Islamic Economic System and compare them to Capitalism and Communism to design of sustainable financial strategies globally.

Learning Outcomes

  • Cultivate an understanding of the global Islamic Banking and Finance industry and practices.

  • Analyze the AAOIFI Shari‘ah standards, mainly in terms of their principles, process of issuing, advantage and classification

  • Understand the background of establishment and development of the AAOIFI Shariah standards

  • Understand the implication of classical Islamic fiscal knowledge in the modern economic system.

  • Learn about the modes used for Assets and Liabilities of an Islamic bank.

  • Gain a thorough academic understanding of the fundamental principles of Islamic Finance.

  • Attain key insights in current research areas in Islamic Finance.

  • Demonstrate familiarity with established knowledge in the field of Islamic banking products & services including operational processes and product marketing, and awareness of current development therein.

  • Cooperate with others and apply knowledge in a socially responsible manner for the progress of the nation and the ummah.

  • Identify non-Shariah compliant financial instruments and prepare Shariah compliant alternatives .


Dr. Mufti Muhammad Wasie Fasih Butt

Course Instructor

Dr Mufti Muhammad Wasie Fasih Butt is an advisor, trainer, author, researcher and educationist by profession with a strong educational background and vast corporate experience. He completed his Shariah graduation from Jamia Darul Uloom Karachi with Shaykh Mufti Muhammad Taqi Usmani and specialisation in Islamic Jurisprudence from Jamia Uloom e Islamya Allama Muhammad Yusuf Banuri Town. He also holds graduation in Commerce, an MBA in Finance, and a Doctorate (PhD) in Islamic Studies. He is a Shariah expert with consulting, research, and teaching experience in Islamic banking and Finance. Dr Wasie is a Chairman of the Shariah board of Zarai Taraqiati Bank Limited (ZTBL), erstwhile Agricultural Development Bank of Pakistan (ADBP), where he got the honour of being a founding member of the Islamic Banking Division. As an advisor to Atlas Asset Management Limited (AAML), he supervises the Shariah compliance of various mutual and pension funds. He is also a director of Alhamd Shariah Advisory Services Private Limited (ASAS), a leading global Shariah Advisory firm specialising in Islamic solutions and shariah consultancy in various corporate sectors. He also holds vast experience in shariah audits of banks and insurance companies while working in leading audit firms, A.F. Fergusons & Co. and Grant Thornton Anjum Rahman (GTAR) as its lead shariah auditor. On the academic side, Dr Wasie is an Assistant Professor at Hamdard University (HU), teaching Islamic banking and finance at Graduation and Post-Graduation levels. He is the university's focal person for all Islamic finance-related training, events, and agreements. Besides HU, He has also taught Islamic courses to thousands of students in various well-recognized universities/DAIs, like the University of Karachi, Institute of Business Management (IOBM), DHA Suffa University, Karachi Institute of Economics and Technology (KIET) & Usman Institute of Technology (UIT). He has published articles in many referred journals and has authored books on contemporary Islamic issues.