Abstract
Not very long ago the practicability of Islamic banking and finance was not taken
seriously, and writing on such topics was considered simply a mental exercise in
vain. Opportunity of teaching and learning Islamic economics, banking and
finance was unheard. But the situation at present has completely changed. At present it is
the most discussed and practiced area of Islamic economics. It has received global
recognition. Now there is a vast variety of degree programmes in the Western universities,
with different specializations. The present paper aims to shed light on the rapid
development of Islamic finance in the academic circle all over the world. At the
concluding note it strongly recommends for keeping close tie between its theoretical
development and practical advancement.
Abdul Azim Islahi. (2014) ISLAMIC FINANCE: FROM NICHE To MAINSTREAM In The ACADEMIC WORLD, Islamic Banking and Finance Review, Volume 1, Issue 1.
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