For the past three decades, Islamic finance in Bangladesh has undergone a journey that is marked with various significant milestones. Major achievements of the industry in term of its development since inception may be highlighted here.Islamic finance in Bangladesh has become a key segment in the financial system. A novelty of the journey has transformed into a mainstream financial system now.This is a consequence of continuous initiatives to build a solid foundation, focusing on infrastructural, institutional and capacity building measures. However, adequate regulatory and supervisory framework though solid legal framework still required for further acceleration and streamlining of Islamic finance in Bangladesh. These measures are the cornerstones of growth of Islamic finance industry in Bangladesh.Only one Islamic bank started its humble journey in 1983 and there are now 8 full-fledged banks, 23 conventional banks operating partial Islamic banking which offer over 100 financial products beyond the basic financial offerings. The industry is characterised by increasing competitiveness and innovation. Islamic banking assets have also grown remarkably in Bangladesh.It now stands at more than a quarter of the total banking system. Islamic finance also provides financing to all segments of society irrespective of beliefs, race and gender. There is also greater acceptance of Takaful with its increased penetration rate to approx. 15% of the population. For over 3 decades, Islamic finance has grown and developed and contributed significantly to the development of the real economy of Bangladesh.Enhanced integration with the global market has enabled greater trade and financial linkages. Bangladesh is now positioned at the forefront of international developments with increasing connectivity between financial centers, and more cross-border Islamic financial transactions. These interlinkages will open up greater opportunities to introduce and strategically position Islamic finance services globally while providing opportunities for meaningful participation of our local players as lead arrangers for some of the global sukuk (Islamic bonds) issuances. The gains will also be extended to our ancillary service providers that will able to establish greater connections with the international market.Bangladesh’s pioneering initiatives and thought leadership in Islamic finance has enabled the country to advance innovation in the Islamic finance industry. However, timed-demanded and modernization of its framework will provide an opportunity and space for Islamic financial institutions to offer new products and services in Bangladesh.The future growth of Islamic finance, especially cross border, is very much dependent on the harmonization and mutual recognition of legal views and rulings across the globe. In the context of the legal Standards, the dynamic process of its development involves the act of harmonizing the differences and embracing diversity. This broadens the reference scope for scholars to have an enriching debate on the best application of law in contemporary finance, based on the customs, legal and operational framework of each market. The act of balancing the authenticity and practicality of the different legal interpretations is an important component in seeking a solution for the benefits and welfare of the mankind.Continuous enhancements of curriculums in universities are critical to increase the employability factor of graduates. These include reconfiguration of the academic programmes at universities and enhancements to the learning tools and methods of teaching. This adds to the traditional pedagogy to ensure its dynamism through evolving times, while providing the right learning environment that can challenge the minds and sharpen the skills and experience of the learners. One such addition is experiential learning.The adoption of experiential learning opens the window of opportunity for learners to go beyond theory-based teaching. Examples include industry-wide internship, real life problem solving assignments and apprenticeship programmes for them. These methods create greater connection between classroom learning with the real world. Experiential learning is a strong stimulant to knowledge acquisition that encourages learners to develop their skills while experiencing responsible decision making in real-time. Experience in real life situations differentiates experiential learning from cognitive and behavioral learning. This provides the learners with a competitive edge and increases the probability of success for graduates at entry-level into the workforce.Islamic finance industry can contribute significantly towards experiential learning. Bangladesh, with its long history that includes the development of Islamic finance over three decades is content rich and ideal for case study research. There are many matters and areas that require in-depth research and solutions. The case study method is another popular learning tool that has proven to be effective in enhancing and strengthening critical appraisal and understanding among learners. The case study method also provides an opportunity to discuss multiple perspectives in dealing with issues.Within the Islamic finance realm, prospective cases studies can include amongst others the application of legal standards by Islamic banks and its effects on product structuring and pricing strategy, legal aspects, risk management, oversight function and governance process of the banks.For the takaful sector, case studies on microtakaful for example can lead to the development of protection schemes that can be offered at affordable prices. The academia in Bangladesh has enough resources to produce such case studies and generate new research findings and breakthroughs, given the knowledge and expertise of their academic faculties.In essence, practitioners and professionals need to be more exploratory and brave to rigorously investigate or examine real life situations and complex scenarios and benefit from hindsight and learnt lessons that can give new solutions for future growth. We need to encourage universities to move towards experiential learning. Learners will be exposed to legal and operational requirements covering areas such as product structuring, legal, accounting as well as risk management. The transparent nature of the standards would enable learners to critique and form their own views and conclusions. It will be a leap forward to change the paradigm on the theoretical and operational aspects of legal applications. Thus, those initiative is certainly a game-changer for Islamic finance education programs in Bangladesh. Those initiatives will also be important milestones in terms of academia-industry cooperation in equipping the learners with industry relevant and contemporary application of legal contracts in Islamic financial products and services. Given the new content on the subject matter, a pre-condition to successfully implement the learning guide is to train and expose lecturers to multiple disciplines of subject matters. Particularly, as the applications of the legal and operational requirements cover various fields that include legal, accounting, risk management and information technology. Developmental training is a critical component as it enables the imparting of knowledge effectively.The role of learning institutions is essential to develop talent with higher skill sets, the industry also has an important role to ensure effective deployment of graduates as they enter the workforce. The number of graduates is indeed increasing at a rapid rate. The general feedback of scholars however is the lack of opportunities for employment. But the reality is that the industry still grapples with shortage of the right talent that can lead and energize innovation. A solution can be to reconcile the expectation gaps of the industry and graduates. Talent enrichment program is one area where we can pursue to bring out the best of student talent. Enrichment programs in areas beyond law, such as leadership training at the early stage of recruitment would strengthen the confidence of learners and provide the required exposure for them to understand and appreciate the intricacies of business environment.There are few specialised institutions in Bangladesh for Islamic finance and banking contributing towards sustainable developments of professionals and expertise in the industry. The Islamic finance and banking sector as a whole has significantly benefitted from the contribution of these institutions. Some professional institutes are accommodating the needs of finance. Bangladesh Institute of Bank Management (BIBM) plays an instrumental role as dedicated foundation level training, conference, seminar, workshop as well as a knowledge repository for Islamic finance. Besides, Bangladesh Bank Training Academy (BBTA), which is the industry training arm, patronized by Bangladesh Bank has also made significant achievements in various training programs over the years. However, there is a need of establishment of a chartered institute for creating Islamic finance professionals to promote the highest standards of professional practice amongst Islamic finance practitioners. Thus, with prominent scholars as its members, will also embark on various initiatives that will contribute towards its objective of inculcating the highest level of professionalism of experts / advisors.