Institute overview

NIFPWA is an independent professional body dedicated to the development of Non Interest Finance Professionals in strict accordance to AAOIFI international standards applicable for Non Interest Financial Institutions. As a professional body, representing non interest professionals, it is a legal entity registered under the Organization for the harmonization of corporate law in Africa {OHADA}.

The institute offers qualifying examinations that covers non interest finance, accountancy, banking and insurance law, and claims of procedure, report writing and shari’ah audits.

In 2010 we made it possible for everyone with the interest and ability to realise that –with our help- a career in the profession was within their reach. The world is catching up with our ground breaking founders who believed in equality of opportunity for all, but we are not standing still. The Non Interest Finance Professionals of West Africa (NIFPWA) is the national professional organization of Non Interest Finance Professionals (NIFPs) in the West African States, with more than 28,000 members in 14 countries in business and industry, public practice, government, education, student affiliates and international associates. Founded in 2010, the organization uses AAOIFI ethical standards for the profession and auditing standards for audits of NIFs organizations. It also develops and grades the CNIFP Examination. The NIFPWA maintains offices at QTIER GOUAKO MISSRETE RB and Tokoin Lome RT.

Mission and Vision

Mission – to promote the knowledge, education and training of interest free banking, accounting and finance for the benefit of our members and the public by the enhancement and maintenance of equality, quality standards and practice in accordance to shari’ah

Vision – to be among the best capacity building institutions in Non Interest Banking, Finance, Accounting, Auditing, Insurance and Management in the world.

VALUE STATEMENT – the world leader in driving vitality, relevance and quality across the NIF profession furthering its trust and influence.

INTERGRITY- we are committed to upholding the highest shari’ah ethical standards to maintain trust and credibility with colleagues, members and the public.

PASSION- we are empowered to exceed our personal and organizational goals with excellence and exceptional member service.

INNOVATION- we are encouraged to challenge ourselves to take chances and apply creative ideas and approaches to all that we do without contradicting the shari’ah.

COLLABORATION- we are one inclusive team with a shared mission and we recognize that our best solutions come from working together.

Functions

In terms of section 14 of the bye laws, NIF professional Agency of NIFPWA has the following functions

  1. Grant membership to persons who fulfill all requirements set out in its byelaws on payment of membership fee;
  2. Lay down standards of professional conduct for its members;
  3. Monitor the performance of its members;
  4. Safeguard the rights; privileges and interests of NIF professionals who are its members;
  5. Suspend or cancel the membership of NIF professionals who are its members on the grounds set out in its bye-laws;
  6. Redress the grievances of consumers against NIF professionals who are its members; and
  7. Publish information about its functions, list of its members, performance of its members and such other information as may be specified by regulations

Governance Structure

The governance framework of NIFPWA consists of a Board of Governors, a Technical Committee and the management cadre headed by a Director General.

At the apex of the organogram of NIFPWA is the Board of Governors, composed of the Non Interest Finance Professionals of individual West African Countries.

The Board appoints its President of Council in rotation among its members for a term of 3 years. It is responsible for the formulation of the overall policy direction of the Institute and the appointment of the Director General who is in charge of the day to day management of the Institute.

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Prof. Asiwaju Busari S Akande

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Director General NIFPWA

12/06/2020