Madrasa, as a formal institution of learning, is educating and imparting training to the Muslims since eleventh century. During twentieth century Western academicians took interest in madrasas and Muslim education. In pre-9/11 studies madrasas were taken as educational institutions and as vehicles for preserving and promoting Islamic tradition. However, after the events of 9/11, madrasa - the centuries-old institution of Islamic learning - became the focus of attention of international political discourse. Almost all studies, policy papers and media analysis suggest links between militancy and the education imparted in the madrasas. The madrasas are accused of promoting religious fanaticism and sectarian violence and militancy. Apparently we lacked evidences that madrasas are giving military training to the militants. If something is going wrong with the madrasas, then the fundamental thing is that one should look into the curriculum - the texts which are being taught. Present discourse simply accused madrasa curriculum as stagnant and out-dated without looking its transformation process. These texts are contributing in framing and building a larger part of the madrasa students’ worldview. The present study traces out historical development of madrasa curriculum in South Asia. It suggests that political changes defined the scheme of the curriculum. With the course of time, the emphasis of madrasa texts changed, sometimes on the demand of the market/state, which resultantly changed the parameters of Muslim scholarship or sometime simply the nature of the state changed. The study contends that contemporary madrasas of Pakistan are teaching and interpreting the texts according to the changing domestic and international political scenario.