The curriculum for Islamic economics, banking and finance very essential.

The Islamic banking and finance industry is developing at a rapid pace in Pakistan. According to the Islamic Banking Bulletin issued by the State Bank of Pakistan, the market share of Islamic banking assets and deposits in the overall banking industry has been recorded at 19.5 percent and 20.5 percent respectively by the end of June 2022. In a short period of time, Islamic banking has achieved a lot against the conventional banking and finance industry.

The present gestures of the State Bank of Pakistan and the Government of Pakistan towards the elimination of Riba from the economy and banking are also very encouraging in this respect. In November 2022, the Minister for Finance and Revenue Mr. Ishaq Dar announced that the State Bank of Pakistan and the National Bank of Pakistan to withdraw their appeals against the Federal Shariat Court's order to implement the Islamic banking system in Pakistan by 2027.

Keeping in view the marvelous growth and intentions of the authorities, there is a need to take prompt steps and actions in many areas for the smooth transformation of the Islamic banking system. As we all know that the banking system is a part of the economic and financial system, so the appropriate curriculum for Islamic economics, banking and finance is one of the major areas in which the concerned authorities must think.

Pakistan emerged in the name of Islam but after more than 75 years of independence, we could not implement Islam in our country. Like all other sectors, the economics and finance scenario is still following the western thoughts of the economy and consequently, the education system of economics, banking and finance is also based upon western and conventional thoughts. It means that we are equipping our students with western thoughts through which they can develop western thoughts in the practical economic and finance fields rather than Islamic thoughts.

In the present scenario, conventional education related to economics, banking and finance is primarily taught in educational institutions rather than Islamic economic, banking and finance education. Islamic economics, banking and finance subjects are even not taught in various colleges and universities and if they are taught, they are taught as secondary subjects. Consequently, the conventional economics, banking and finance curriculum is designed in detail and in the case of Islamic economics, banking and finance, generally the courses are not taught in detail and only...