Islamic Finance Education and the Curriculum of Deeni Madaris (Religious Seminaries)

Sharī‘ah governance is a unique element of the Islamic financial system in which Ulama (Islamic scholars) play a fundamental role. Deeni Madaris (religious seminaries) are the major channels for the education of the Ulama. This study analyzed and compared the syllabi of Deeni Madaris (religious seminaries) taught in Dars-e-Nizami (full-time) and Takhasus fil Fiqh /Takhasus fil Ifta (specialization in Islamic jurisprudence and Fatwa granting process) as offered by different schools of Islamic thought regarding Islamic finance education. A survey was conducted among the academics of these religious institutions regarding the structure of the syllabus followed in their respective institutions. The questionnaire focused on exploring the respondents’ opinions about the status of the curriculum concerning Islamic finance and their efforts for the inclusion of contemporary studies in it, specifically those regarding Islamic finance and jurisprudence issues.