Students taught stock exchange and banking at Al-Mahad Al Aali Al Islami

Ever heard of subjects such as banking, finance and stock exchange being taught at madrasas? Hyderabad breaks new ground with its well known seminary, Al-Mahad Al Aali Al Islami, imparting the nitty-gritty of the monetary transactions in the light of Islamic shariah.

Modern subjects such as computer application, mathematics and finance are not taboo here. If the Mahad begs to differ from the conventional madrasas, so does its Rector, Moulana Khalid Saifullah Rahmani. A noted Islamic scholar with expertise in Islamic jurisprudence, he believes in adopting a holistic approach to knowledge. He is all for pursuing ‘Ilm-e-Nafe' (useful education).

Muslim boys and girls, he feels, ought to pursue professional courses such as medicine, engineering and other scientific disciplines. “It is an obligation they owe to the community.” There is great demand for the one year diploma course in Islamic finance offered to Muftis after post graduation. Efforts are on to affiliate the course with the Organisation of Islamic Finance, Bahrain. “Now ulemas can guide the community in how best it can benefit from stock exchange or deal with banks without compromising on the principles of Shariah,” Moulana Rahmani says. He has ambitious plans to offer an online course in Islamic finance for students of commerce and MBA. The diploma course in English will be introduced shortly. These courses, he feels, are necessary to keep the ulemas socially relevant and abreast with the modern times.

A strong votary of English language, he comes as a refreshing change from the ulemas who are vehemently opposed to anything new.

“Madrasa students should have enough knowledge of modern subjects to meet the present day challenges,” says Moulana Rahmani, known for suggesting Islamic solutions to new age problems. Mahad is also in the process of setting up a school-cum-madrasa to impart both Islamic teachings and secular education. The residential school will offer State syllabus from 5 to 10 class besides religious instructions in Islamic history, Tafseer, Hadith, Fiqh, Arabic language and Seerat.

Public donations

The school spread over 7,500 sft will be on a par with international schools with quality teachers and infrastructure. “The cost will be met through public donations and the burden will not be passed on to students,” Moulana Rahmani assures.

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