Islamic finance, the globally emerging phenomenon is captivated its roots in Muslim, European countries and in America as well. The built-in features of sustainability and best alternative financial solution make this phenomenon prominent and attracts the attention of professionals and researchers. Keeping in view the importance, AlHuda CIBE FZ LLE, Dubai- UAE and Center of Excellence in Islamic Finance (CEIF), Institute of Management Sciences (IM Sciences), Peshawar- Pakistan have entered into a Memorandum of Understanding (MOU). Mr. Zubair Mughal, the CEO of AlHuda CIBE said that Islamic finance is not only the interest of Muslim population rather non-Muslims are taking keen interest to learn and implement it. There are various non-Muslim countries where Islamic banking and finance is providing their customers state-of-the-art services above all religious differences. He added that according to this MoU, both organizations will work together to strengthen the abilities of Islamic banking and finance.