Moalims

KARACHI: Everybody talk at length on Islamic banking and its benefits in conjunction with the Islamic values and economic system, but always ignore the genuine fact that this mode of economic system should also be entrusted to the children studying in middle and higher secondary levels of education in the country.

There are many topics particularly in Islamic studies and social studies subjects in schools books for the students studying in class six to intermediate standard. But there is no such a topic in books describing economic system in line of Islamic banking.

If students of middle and higher secondary level can understand the basics of Islamic banking in their early education system, later, they could be able to choose banking profession and easily assimilate the dynamics of banking, especially Islamic banking. The textbook boards in all provinces do not comprehend that this particular topic is vital for secondary and higher secondary school level going population.

Nothing is being taken seriously by the respective provincial governments and heads in the helm of education affairs in order to carve out a syllabus for this particular purpose, so that the future generation after passing out their school level can enter with better understanding of this mode of banking in their higher degree courses. The educationists and banking expert said Islamic banking is the fastest growing segment of Pakistan's financial services sector.

According to data from State Bank of Pakistan, between 2002 and 2014, deposits at Islamic banks grew at an average annual rate of 65 percent, compared to the banking sector average of 17 percent during same period. Religion is important to the Pakistani banking professional and customer, but they would not well verse about the service and quality of Islamic banking if they have no early knowledge and education in this regard.

The future generation should know the basic principles of Islamic banking that revolves around several well-established concepts based on Islamic canons. They should know only 'halal' activities are allowed. This holds ethics paramount and consequently they would understand activities forbidden to Muslims like liquor, hoarding, gambling and interest.

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