There is a growing trend in the Muslim world to restructure modern knowledge and discipline in line with Islamic epistemological principles. Islamic economics, in particular, receives wide attention among scholars. Islamic economics is currently moving from a mere discourse on economics in Islamic perspective towards becoming a distinct discipline marked by a complete body of knowledge, clear subject matter, methodology/methodologies to appraise theories and continuous grow of knowledge. At the practical level, the universities all around the world are offering various subjects on Islamic economics and finance. There are significant attempts have been made to structure new framework of economics curriculum by incorporating various discipline of Islamic economics. The paper attempts to observe and survey the Islamization of knowledge program at the International Islamic University Malaysia and IAIN Ar-Raniry Banda Aceh Indonesia. A comparative analysis on the teachings and syllabus of Islamic economics, banking and finance in both universities will be made. Some recommendations on the structure and program of Islamic economics at IAIN Ar-Raniry which is going to be officiated as Islamic University will also be outlined.
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