Hello Shripad,
Please note now SAP FI and CO and two different certifications altogether. I would suggest you go for SAP FI.
You should have the formal training, then only you are advised to go for Certification. I do not know what is your level of knowledge in various areas, as this FI certification does not only cover AP AR but various other topics such as New GL, Asset Accounting, Solution Manager etc. Therefore, you should also be familiar with all those areas. If you have reasonably good understanding, then you can even read the available literature and appear directly for the certification. I think if you are in UAE you do not need to have pre-requisite of attending the training course. Please contact your local SAP Education in UAE.
Hope this helps.
All the best.
Kind Regards,
Ravi