Nigeria: ABU to begin courses in Islamic Economics, Islamic Banking

The Ahmadu Bello University (ABU), Zaria, will offer new undergraduate and postgraduate courses in Islamic Economics, Banking, and Finance to bridge the gap in the human capital needed in the sector.

Professor Muhammad-Nasir Maiturare of ABU Business School disclosed this during a workshop organized by the school in collaboration with the International Institute of Islamic Thought (IIIT), on Thursday, in Zaria.

The two-day workshop has “Integration of society for mutual benefits through Islamic finance tools” as its theme.

Maiturare, who was the chairman of the occasion, said the workshop came at a time when the university was reviewing its curriculum, adding that this would enhance the economy.

“If you say Masters in Islamic Finance, it will have a number of variants, some will major in Islamic Insurance (Takaful), and others will major in Islamic Banking or Islamic capital (Sukuk).

“As the time goes on, other variants of Islamic Economics, Banking and Finance will also be instituted,” he said.

According to Maiturare, the programs will commence in one or two years as course modules for the various programs had already been developed.

Corroborating, Dr. Ismail Idris, Head of Department of Banking and Finance, said the university had already started some courses in Islamic Finance at the diploma level.

Idris said in the short run, the university would make provision for elective courses in Islamic Banking, Economics, and Finance.

“This would enable our students to have a Bachelor’s degree in Banking and Finance with specialization in Islamic Finance,” he said.

Idris, however, said the university would soon start full-fledged undergraduate courses in Islamic Finance.

He said the workshop was aimed at addressing the issues around Islamic Economics, Banking, and Finance which were not properly addressed under the conventional Economics, Banking, and Finance systems.

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Idris added that the workshop was also aimed at enlightening people on the products of Islamic Economics, Banking, and Finance which were compliant with Islamic laws.

“By doing so, more people who were skeptical about conventional banking and finance could key into these products of Islamic banking and finance to propel the economy,” he said.

In his remarks, Dr. Aliyu Tanko, the Coordinator of IIIT, said the organisation was supporting the university to expose students to other aspects of Islamic banking and finance.

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