IIFII® MEMBERSHIP TERMS & CONDITIONS

Please read these terms and conditions carefully before applying to become IIFII® member. In consideration of us accepting your application to become IIFII® member and allowing you to access the institute’s website, you agree to be bound by these terms and conditions. IIFII® membership will be subject to these terms and conditions and the institute reserves the right to amend these as per its discretion.

 Membership Terms & Conditions Applicability

The following terms and conditions are for members of International Islamic Finance & Insurance Institute (IIFII)®. These would be enforceable with immediate effect on all new and existing individual members of the institute. All pertinent issues regarding membership shall be dealt in accordance with these membership terms.

Members Registration & Confirmation

The registration for membership will be intimated by e-mail as soon as the registration has been made via filling of form online or manually. However confirmation of membership will be done only after payment of membership dues/fees.

Membership Period & Renewal of Membership

The membership period shall be one year from the date of payment of membership fee. For new members as well as the existing members, membership period will end after a full year from date of last fee payment and in order to extend the period for more than a year, members may make an additional payment based on the standard annual membership fee or any other discounted fee for renewal of membership. Your membership year starts on the date when you join the institute (the ‘Membership Start Date’) after payment clearance. The membership year lasts for 12 months and becomes due for renewal on the yearly basis at the end of 12 months periods from the Membership Start Date. Shortly before your Membership yearly period end, the institute will send you notification of the renewal of your membership for the next year with the details of next year renewal fees.

Membership Overview and Categories

The membership is open to all individuals and entities who want to become a part of a prestigious and prominent global Islamic finance organization that aims to be at the center of international Islamic finance initiative. Regardless of your academic, religious, personal or professional background, IIFII® membership may prove a value proposition for you. It just does not matter if you are a professional or non-professional, banker or non-banker, accountant or academic, self-employed or student, IIFII® has the widest individual membership options. Besides a diverse individual membership set, IIFII® also offers a value-driven opportunity for organizations and entities to join IIFII® in the capacity of institutional member. This is not necessary for the institutional membership of IIFII® that the entity should be an Islamic banking or finance organization. This is of no relevance if the organization is a bank or an asset management company, an association or a commercial enterprise, regulatory authority or an MNC, IIFII® delivers value to its members in many ways. Following are IIFII® membership categories, discussed briefly
 

Individual Membership

The individual membership is available to all individuals who want to become a part of an international professional institute. Becoming an IIFII® member means you are a part of a professional pool whose members share mutual knowledge, goals, information and experiences for the collective benefit of whole community of IIFII® members. Being a member implies that you are a part of a global population of professionals who are known and recognized in their respective fields. The individual membership has further sub-types to cater to our diverse membership base. Following are the IIFII® individual membership categories:
  • Professional Membership

  • The IIFII® professional membership is open for all individuals from any career background or occupation. There is no constraint of location or country to join this globally renowned and thoroughly professional institute. IIFII® being a global organization takes pride in its broad and ever-increasing membership base. The professional membership is not limited to Islamic finance professionals or Islamic bankers. It just does not matter if you are a professional or non-professional, banker or non-banker, accountant or financial analyst, self-employed or entrepreneur, IIFII® professional membership has the widest individual membership base. Professional Membership is open to all individuals except government employees and those who are not full time students or academics.
  • Exclusive Membership

  • Exclusive membership of IIFII® is a celebrated proposition in terms of career and expertise. This membership category gives the members the special right to use distinguishing designation of AIIFII (Associate Member of International Islamic Finance & Insurance Institute) and FIIFII (Fellow Member of International Islamic Finance & Insurance Institute) after their names. The exclusive membership entails highest membership benefits from IIFII® and it is a pre-requisite to attain CPIB® certification to qualify for exclusive membership status. Apart from the IIFII®’s CPIB® certification, relevant experience requirements are also applicable for exclusive membership.
  • Government Membership

  • Government membership of IIFII® is suitable for individuals from government/public sector. Those who are employees or job-holders in any of the state-owned or government entities, departments or agencies are eligible to become members of IIFII® in this membership category. There is no constraint of whether you are a staff member of a higher or lower rank, employee of a central or state-government organization or of a local government agency/department.
  • Academic Membership

  • The academic membership is designed for academics, teachers and faculty members of educational and research institutions like colleges, universities, professional bodies, academies etc. Those who are full-time, part-time/visiting or adjunct professors etc are eligible for the academic membership. Being an academic member you can tremendously contribute towards the promotion of Islamic finance initiative by raising awareness among your students regarding the Islamic finance paradigm.
  • Student Membership

  • This membership category of IIFII® is for full-time students of colleges and universities. This is a great opportunity for students to have practical insight into the world of Islamic finance before they join their jobs in the practical field. However, the membership status of this category is lower in relation to other categories both in terms of cost and member benefits. Apart from this, student membership is only valid for a maximum of four years from the date of admission as student member which means that an individual after attaining student membership can renew the membership for a maximum of three years and after that if he/she wishes to continue as IIFII® member, then it will be compulsory to switch to any other IIFII® membership category for him/her to continue enjoying the membership benefits and continue the affiliation with IIFII® to enjoy recognition as an Islamic finance professional.

Institutional Membership

IIFII® has a unique membership opportunity for organizations like companies, business enterprises and entities like associations, firms, and universities. All such bodies can join IIFII® in the capacity of institutional members. The institutional membership is a value proposition with numerous benefits and opportunities. All institutional members shall be dealt with highest levels of professionalism and service-quality at entity-level basis with a dedicated IIFII® membership officer who will be responsible for all institutional membership issues. All institutional membership applications shall be made through proper channel i.e. through a chapter or IIFII® membership officer.

Membership Benefits

The membership benefits comprise all services that IIFII® offers to its members in various categories. These services include access to IIFII® website resources like access to IIFII® members’ area and knowledge center, and other services that are offered on concessional basis to our valued members like career counseling, Shariah advisory & investment consultancy, trainings and events etc. From knowledge and networking resources to career and collaboration opportunities, all services rendered by the institute to the members are covered in the wide range of membership benefits. Membership incentives may vary according to the category of membership. We reserve the right to change the benefits that apply to IIFII® membership at any time without prior notice. Any external providers of a benefit included within your membership package will have absolute discretion in relation to the provision of services, and membership of IIFII® does not guarantee that the external provider will accept an application from an IIFII® member for the provision of services. Services supplied by an external provider will be subject to the provider’s own terms and conditions, and we do not accept any liability for loss or damage suffered as a result of a fault, error or omission in the provision of these services. IIFII® exercises absolute discretion with regards to benefits provided to members and we reserve the right to change our external providers without prior notice and our decision on all matters of membership benefits/services will be considered final.

Minimum Membership Period

In order to allow the institute to plan its resources and thereby to offer a reliable service to IIFI® members, we require that all members maintain their membership for a minimum period of 12 months from joining date. The Minimum Membership Period runs for 12 months from the Membership Start Date as defined above. Switching from One Membership Category to Another Category Members may move from one membership category to another membership category e.g. a Student member can switch to Professional member category and a Professional member can become an Exclusive member of IIFII® at any time subject to fee payment and fulfillment of prescribed conditions for the intended membership category. At the point of doing so, your Membership Start Date will be reset to a new date; a new Membership Period will begin.

IIFII® Members’ Code of Conduct

This code of conduct applies to all members, whatever their membership category, the role they fulfill, or the jurisdiction in which they live or work and applies to the conduct of the individual not any organization for which they work. IIFII® members are expected to act as responsible individuals in terms of all their professional and personal matters upholding the principles of justice and fairness. As IIFII® members, I agree that I will:
  • Uphold and promote the reputation of the Institute and Islamic finance and Islamic insurance profession and do nothing that would bring either into disrepute.
  • Contribute to the development of the profession and its effectiveness through my participation in the Institute
  • Actively seek opportunities to maximize the benefits of business to society and the environment and to minimize its adverse effects.
  • Influence and persuade others of the case for a responsible and ethical approach to doing business and support the embedding of that approach across disciplines.
  • Demonstrate integrity, honesty and ethical and appropriate behavior in all business, professional and related personal activities.
  • Be transparent about any special relationship, business interest or conflict of interest and make all relevant parties aware where such a conflict may exist.
  • Endeavor to maintain and develop my personal professional competence to contribute positively towards my organization.
  • Not indulge in any activity or will not involve myself or become a part of any action that would harm the interests of IIFII® or its employees, members, affiliates etc in any way.
  • Abide by the Institute’s policies as amended from time to time including the terms of use and the privacy policy.

Membership Dues/Fees Payment

You can pay for your membership dues by any method i.e. by bankers check, demand draft or online bank transfer in the given IIFII® bank accounts. The details of Membership charges are mentioned hereunder:

There is also a one-time joining/processing fee of US $ 30| EURO € 25| Pakistani Rs. 3,000| GBP £ 20| Saudi Rial 115 | Arab Emirates Dirham 110| Malaysian Ringgit RM 105 for new members. In any circumstance where the membership fees remain unpaid following the due date for payment, the Institute specifically reserves the following rights: a. to demand immediate payment of any outstanding sums due  b. to terminate the membership and withdraw all member benefits forthwith The institute also reserves the right to increase the price of membership packages as and when required from time-to- time, and any such amendments will also be updated on the membership information page of the institute’s website.  If you are a current IIFII® member, you will be informed of any fee increase in your membership renewal. Apart from the prices quoted at the Institute’s website, any or all discounts are at the absolute discretion of institute and the decision of the Memberships and Affiliation Board will be final with regards to pricing and discounts regarding membership charges. Refunds On cancellation of membership or a change in membership category, or in case of new membership for both individuals and institutions, there are no refunds available as per current policy of the institute. For both new and existing members, the same refunds policy applies which means that no refunds will be given in any case.  

 

Advance Payment of Membership Fee

Membership fees for future membership periods may be paid in advance but the same shall not be refundable. The membership fee paid for future periods may be discounted as per the discretion of the relevant chapter head/director. The options for advance fee payment is chiefly for the convenience of members and any discounts can only be availed based on the relevant chapter’s head/director discretion. Members who wish to avail such discounts while making advance payments can also contact the central Memberships and Affiliations Board at our HQ, in case the members belong to a location/country where there exists no IIFII® chapter.

 

Cancellation Policy

Within the Minimum Membership Period of 12 months cancellations are not permitted. If you decide to leave the Institute, we would appreciate it if you would tell us why. The membership team may ask you to complete a short survey, which will help us improve our services and better meet your needs in the future. Cancellation after payment has been made will not be entertained as all IIFII® payments are non-refundable and non-transferable.

 

Compliance With IIFII® Policies

The members shall abide by the IIFII® members code of conduct and any other policies including the membership terms and conditions as designed and adopted by the Institute from time to time. Access to certain membership services within the membership categories will be governed by these policies and terms. The Institute reserves the right to refuse continuing access to a service(s) if a member fails to comply with the relevant policies. If any individual membership application is accepted, but we subsequently discover that any or all of the information provided by the individual was misleading or false, we reserve the right to revoke the membership with immediate effect, without the right of appeal. All members also agree to the Institute’s Terms of Use and Privacy Policy to be eligible to be admitted as IIFII® members. In case of any dispute, the decision of the Memberships and Affiliations Board will be final without any recourse or arbitration with regards to all membership issues.

 

Members' Obligations

As an IIFII® member you warrant and represent to us and each other IIFII® member that the following are and will be true each time that you access or use the IIFII® website and/or services:
  • you have all requisite power and authority to enter into and perform your obligations under these terms and conditions;
  • there are no circumstances of which you should reasonably be aware which would prevent these terms and conditions from being and forming legally binding obligations upon you;
  • your performance pursuant to these terms and conditions does not and will not conflict with or breach any constitutional document, agreement or Applicable Laws to which you are subject or by which you are bound;
  • all the information which you submit to the website is complete, reliable, accurate, free from errors, and not misleading in any way, and will not infringe any third party rights;
  • you have declared any unspent criminal convictions, insolvency or undischarged bankruptcy;
  • you will not do, or omit to do, anything that might reasonably be expected to put us in breach of any Applicable Laws.

You will provide us promptly on request with all information that we may reasonably require from time to time in connection with your access to or usage of IIFII® website or other membership services and benefits.

 

How IIFII® Communicates With Members

When you join the Institute, you provide us with your personal details, including your address and email. By giving us this information you are agreeing that the Institute may contact you from time to time (by email, SMS text message or post), with information related to services, products and events. You may, at any time, opt out of receiving communications from the Institute, change your contact details or set your email preferences, by informing the Institute in writing.

Privacy

We take your privacy very seriously. Occasionally, in order to enhance your membership, IIFII® may provide selected information (excluding ‘sensitive personal data’) to other organizations. This will only be done, however, when IIFII® has approved by license or other agreement the way in which those organizations will use the information, with a view to improving the value of IIFII® membership.

 

Links; Viruses/Hacking and Other Offences

The IIFII® website may contain links to other websites, which in turn may contain material that has been produced by third parties not affiliated with us.  We have no control over those other websites and accept no responsibility or liability for information or content provided on such websites. You shall not (a) knowingly introduce any viruses into the Site or (b) attack (or instigate or facilitate the attack of) the Site or Services via a denial-of- service attack or a distributed denial- of-service attack, or (c) use the Site or Services for any purpose which is unlawful, abusive, libellous, obscene or threatening. A breach of this clause may constitute a criminal offence. We may report any such breach (whether actual or suspected) to the relevant law enforcement authorities and you agree to co-operate with those authorities. You shall be responsible for ensuring that you have in place on such systems appropriate Virus protection processes and software. We will not be liable for any losses caused by any form of attack or viruses that may infect your computer equipment, computer programs, data or other proprietary material due to use of the Site or Services.

 

Data Protection And Confidential Information

You acknowledge and agree that we may monitor your use of the Site. We may record, retain and use for monitoring, statistical analysis or marketing purposes information on or from your access to and use of the Site and the Services. Please see our Privacy Policy for more information on how and for what purposes we use your personal data. You shall treat as confidential and shall not use or disclose to any person any Confidential Information nor permit its disclosure. For the purposes of these terms and conditions, Confidential Information means all information (in whatever form) which is disclosed to, or otherwise learnt by, you in connection with the use of IIFII® website, services or these terms and conditions.

Liability

Nothing in these terms and conditions shall exclude or limit any person's liability for death or personal injury caused by its negligence, or any person's liability for fraud. Subject to the above, neither we nor any of our agents, affiliates licensors or delegates or our or their directors, officers or employees will be liable for any losses incurred or suffered by you, directly or indirectly in connection with: a. materials provided to or by or on behalf of us being corrupted or inaccurate; b. you being unable for whatever reason to access or use the Site or Services; c. benefits, goods or services provided by an external provider/third-party; d. any acts or omissions by you, any other IIFII® members, or your or their personnel; or e. us, or other IIFII® members, acting on materials or communications which purport to have been made by or on behalf of you but which have been created or sent by (i) a third party purporting to act in your name, or (ii) a person who has lawful access to the services but who exceeds his authority, regardless of whether such losses arise in contract, tort, negligence, breach of statutory duty or otherwise.

 

Termination of Membership

The Institute may terminate your membership if you fail to abide by the code of conduct as provided herewith and if you are in violation of any of these terms and conditions. If membership is terminated by expulsion no refund of membership dues will be made and any balance due for the Minimum Membership Period shall also be forfeited. The membership may be terminated if the members are found of any misconduct or misbehavior with regards to the Institute’s operations, employees, directors, or affiliates. The institute also reserves the right to disallow or otherwise terminate the membership of individuals who act in any way against the interests and reputation of IIFII®. The members who wish to terminate their IIFII® membership shall notify the institute in writing after completion of their minimum membership period. Without affecting any other rights and remedies which we may have and without liability to you for any losses which may result, we may terminate these terms and conditions:
  • immediately and without notice if,
    1. in our sole opinion, you materially breach any of these terms and conditions, or fail to adhere to the IIFII® Members’ Code of Conduct.
    2. you fail to renew your membership;
    3. you become bankrupt or insolvent;
    4.   we are required by any applicable law to terminate these terms and conditions; or at any time by giving you notice in writing.

    On any termination of these terms and conditions your right to use the IIFII® website and any of the IIFII® services shall cease, and we may terminate your access to and use of the website and any of the IIFII® services and invalidate any relevant access details. Termination for whatever reason of these terms and conditions shall not affect:
  • any rights, liabilities or obligations which accrued before such termination;
  • any right to payment of fees; and
  • any of these terms and conditions that are intended to continue to have effect after such termination.
The right of IIFII® member to use any member benefits will cease with immediate effect if a member falls into arrears on their membership fee or cancels their membership or has their membership terminated by the IIFII® for any reason as set out above. Entire Agreement These terms and conditions override any contrary terms or conditions published in relation to any membership matters between you and us.

 

The IIFII® Trademark

The "IIFII" trade mark is owned by us and nothing contained on the website or these terms and conditions shall constitute the grant of a license to use such trade mark. Queries, Complaints Procedure And Comments The institute aims to provide all members with a high level of service and to deliver the benefits and privileges of membership as mentioned at our website. However, there may be times when, for whatever reason, the service provided does not meet members’ expectations. Should this occur, in the first instance we encourage members to contact the particular Country Head of the Institute to discuss the matter and to give us the opportunity to investigate and assess the complaint. In case the relevant aggrieved member belongs from a country where there are no chapters of IIFII®, the matter will be referred to the Memberships and Affiliations Board of the Institute for resolution. If you have any queries, comments or complaints about your membership please contact the membership team on member.services@iifii.org.