Islamic economics and finance must be introduced in regional higher education to align with international standards and expand opportunities
Vy Dr Bilal Ahmad
Islamic finance, now practised in more than 80 countries across both Muslim and non-Muslim worlds, has grown far beyond being merely an alternative to conventional finance. It has developed into a comprehensive academic discipline, blending ethical values, social justice, and sound economic principles. Its global expansion and intellectual depth have drawn the attention of some of the world’s most prestigious universities.
Institutions such as Harvard University, London School of Economics, University of London, Rice University, Durham University (UK), Markfield Institute of Higher Education (Leicestershire, UK), Hamad Bin Khalifa University (Qatar), International Islamic University Malaysia, INCEIF University (Malaysia), Istanbul Sabahattin, Zaim University (Turkey), Umm al-Qura University (Makkah), University of Sharjah, and Ajman University (UAE) already offer undergraduate and postgraduate programmes in Islamic economics and finance.
The vitality of this field is reflected in the international conferences, seminars, and workshops organised regularly across continents, where scholars and practitioners share new insights. At the same time, leading publishers such as Edward Elgar, John Wiley, and Palgrave Macmillan continue to release books and research works on Islamic finance, underscoring its growing relevance in global academia.
Given this momentum, it is an earnest appeal to the Higher Education Department of Jammu and Kashmir to introduce Islamic economics and finance in colleges and universities without delay. Launching BA and MA programmes would not only align the region’s education system with international standards but also create promising career avenues, especially in the Gulf countries, where professionals in Islamic finance are in high demand.
By embracing this emerging discipline, our educational institutions can provide students access to a field that ensures both academic enrichment and a bright professional future.
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