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AP Dr Abu Umar Faruq Ahmad

umar.ahmad@ubd.edu.bn

Associate Professor, Institute of Policy Studies

               

                    

I have been included among 500 Muslims in the world who have contributed significantly to Islamic Economy during 2017. Can be viewed at: (http://islamica500.com/wp-content/uploads/2017/12/islamica-2018-booklet-48p_web.pdf).

Earned a Lissans (BA - Hnours) in Sharī‘ah (Islamic Law) from Islamic University of Madinah, Saudi Arabia; and an LLM (Honours) Laws, and a PhD from School of Law, Western Sydney University, Australia; currently I am working as Associate Professor at Institute of Policy Studies (IPS) in the Universiti Brunei Darussalam, Brunei. Prior to joining IPS in UBD I have been working as Associate Professor of Islamic Law of Transaction / Jurisprudence at the School of Business and Economics (UBDSBE) since May 2015 until May 2018. Previously, I have concurrently worked with International Sharī‘ah Research Academy for Islamic Finance (ISRA), Malaysia as Senior Researcher; and Associate Professor of Islamic Finance at INCEIF, the Global University of Islamic Finance, Malaysia (2012-2015). Earlier, I taught as Assistant Professor at Hamdan Bin Mohammed Smart University (HBMSU), UAE (2010-2012); and as Senior Lecturer in Sule College (presently known as Amity College), Sydney, Australia (2000-2010). My teaching expertise lies in the areas of Islamic Law of Transaction (Mu‘amalat), Islamic Jurisprudence (Fiqh), Principles of Islamic Jurisprudence (Usul al-Fiqh), Laws and Regulations of Islamic Banking and Finance, Islamic Culture, Business and Society, Business Ethics, and Corporate Social Responsibility. Whereas my key research focuses on Sharī‘ah compliance of Islamic finance products and structures, case studies of IBs and IFIs, Islamic insurance (Takaful), Islamic reinsurance (Retakaful), Islamic microfinance, Islamic securities (Sukuk), Zakah, Awqaf, and dispute resolution in Islamic finance. I won the best teacher award at HBMSU, Dubai in 2012, the best conference paper award at IIUM, Kuala Lumpur in 2013, and the best paper presentation award at a conference in Kelantan in 2018. I am the author of two monographs, namely Theory and Practice of Modern Islamic Finance: The Case Analysis From Australia (pp.322; ISBN-10: 1599425173), and Developments in Islamic Banking Practice: The Experience of Bangladesh (pp.226; ISBN-10: 1599428288); and co-author of a book, Principles and Practices of Islamic Microfinance For a Global Economy: The Case of Bangladesh (pp.64; ISBN-10: 3844326200). Besides, my scholarly contributions have appeared in different edited books and research projects, namely published by John Wiley & Sons, Palgrave Macmillan, Springer Publishing, Edward Elgar Publishing, Emerald Group Publishing, Thomson Reuters, World Scientific, Islamic Research and Training Institute of Islamic Development Bank, ISRA, and Bloomsbury Publishing. I have published in a couple of Scopus, ISI, ABS, and ABDC indexed journals such as Arab Law Quarterly, International Journal of Law and Management, Thunderbird International Business Review, Humanomics: The International Journal of Systems and Ethics, International Journal of Islamic and Middle Eastern Finance and Management, Journal of King Abdulaziz University: Islamic Economics, International Journal of Business and Society, Journal of Islamic Economics, Banking and Finance, and Australian Journal of Basic and Applied Sciences. I have presented my research at about 50 international conferences among which twice at 6th and 11th Harvard University Forum on Islamic Finance held in 2004 and 2015 respectively. My current editorial roles include serving as founding editor, senior editor, editorial advisory board member of a plethora of refereed journals including some of those published by Emerald Group Publishing, UK. I am the Founding Chairman of the Sharī‘ah Supervisory Board of Islamic Cooperative Finance Australia (ICFA), Sydney, Australia since 1999; and currently, I hold the Honorary Sharī‘ah Audit Executive position at Islamic Bank of Australia project, Sydney, Australia.

EDUCATION

2008: PhD in Laws of Islamic Finance with 'High Distinction'; School of Law, Western Sydney University, Australia
Dissertation Title: Law and Practice of Modern Islamic Finance in Australia
Supervisor: Professor Razeen Sappideen

2004: LLM (Hons.) in Islamic Banking Law; School of Law, Western Sydney University, Australia
Supervisor: Professor Razeen Sappideen

1984: Lissans (BA - Honours) in Sharī‘ah (Islamic Law), Islamic University, Madinah, Saudi Arabia

RESEARCH INTERESTS

My research interests span multi-disciplinary areas of Sharī‘ah (Islamic Law), which include, inter alia, the following:

1. Fiqh (Islamic Jurisprudence) and Usul al-Fiqh (fundamentals of Islamic Jurisprudence)

2. Laws and regulations of Islamic banks (IBs) and financial institutions (IFIs)

3. Dispute resolution in Islamic banking and finance

4. Takaful (Islamic insurance) and Retakaful (Islamic reinsurance)

5. Sukuk (Islamic securities)

6. Corporate social responsibility of IBS and IFIs

7. Islamic microfinance

8. Islamic management

9. Zakah (obligatory charity) and awqaf (Islamic endowments)

10. Islamic governance

11. Socially responsible investment

FUTURE PROJECTS

GOOD GOVERNANCE: AN ISLAMIC PERSPECTIVE


Applications Invited
Masters and PhD by Research

WOMEN EMPOWERMENT AND LEADERSHIP: THE ISLAMIC VIEW

Traditional Muslim scholars are in general agreement that women are not entitled to hold the leadership or the topmost public office of a nation. Many scholars hold even a more restrictive view. Is it due to Qur’anic texts and Prophetic traditions (ahadith) that women are barred from key positions or is it largely due to socio-cultural and economic settings of a society. The Qur’an urges women of the Prophet’s household (nisa' al-nabiyy) to stay quietly at home and not to make dazzling public displays like that of the era before Prophet Muhammad (33:33). It is also commonly cited from the Qur’an that men are the caretakers (qawwamun) of women (4:34). The only Prophetic tradition in this regard is that the Prophet (pbuh) is reported to have said, “No nation will ever prosper if a woman is assigned as a ruler.” (Bukhari, no. 7099). On the other hand, the Qur’an also affirms that men and women are mutual guardians (awliya') of each other (9:71). Also. since the Qur’an acclaims the Queen of Sheba for her just rule, such prominent scholars as Imam Abu Hanifah, Tabari and Ibn Hazm support that women could hold the topmost judicial position. Ibn Hazm also asserts that there is no theoretical prohibition for women to carry out the mission of Prophethood. Naturally, if they could be Prophets, they could also be the leaders, for the Prophets are the leaders. This research aims to explore this issue and examine it by primarily analyzing Qur’anic verses, Prophetic traditions, the heritage of the Rightly-guided Caliphs and the rulings of Muslim jurists. In modern times, the quest for women empowerment is integrally related to the issue of leadership. The study will critically evaluate the validity of the quoted hadith, and examine its contexts in order to understand how and why the Prophet would have stated as such. This analysis is crucial to address present day realities, as a significant number of Muslim women have competently led their nations by holding topmost offices. Finally, this research hopes to shed light on what the real political status of Muslim women should be today in light of the Qur’an, traditional texts and the ground realities of modern times. Resolution of the issue of leadership can significantly impact the women empowerment from the Islamic perspective.


Applications Invited
Masters and PhD by Research

SHARĪʿAH VIEWPOINT ON CORPORATE GOVERNANCE OF ISLAMIC BANKS


Applications Invited
Masters and PhD by Research
8

Scopus Publications

1572

Google Scholar Citations

21

Google Scholar h-index

37

Google Scholar i10-index

Scopus Publications

RECENT PUBLICATIONS

1. Evaluation of Takāful operators’ efforts in realising maqāsid al-Sharīah". Journal of Islamic Monetary Economics and Finance, 2018, 3(2), pp.397-412.

2. “Revisiting Sharīʿah standards stock screening criteria”, International Journal of Business and Society (Scopus), 2017,18(S1), pp.151-166.

3. “Remodeling Islamic accountability for awqaf institutions: an integration of stewardship concepts”, Journal of Islamic Economics, Banking and Finance (Scopus), 2017, 13(2), pp.179-189.

4. “Issues deter the propelling growth of awqaf in Bangladesh and the way forward to its developments and widening the scope of its benefits”, in Alam, N. and Rizvi, S.A.R. (eds.), Islamic Economies: Stability, Markets and Endowments, Palgrave Macmillan, 2017, pp.79-98.

5. “Achieving sustainable economic development through Islamic microfinance and potential of proposed two tier mudarabah waqf business model", in M. K. Hassan (ed.), Handbook of empirical research on Islam and economic life, Edward Elgar Publishing, 2017, pp.193-212.

6. “Regulation, performance and future challenges of sukuk: the evidence from Asian markets”, in Mutum, D. et. al (eds.), Advances in Islamic finance, marketing and management: an Asian perspective, Emerald Group Publishing Limited, Bingley, United Kingdom, 2017, pp.27-48.

TOP PUBLICATIONS

1. “Towards a global hub: the legal framework for dispute resolution in Malaysia’s Islamic finance industry,” International Journal of Law and Management, (Scopus), 58(1), 2016, pp.48-72.

2. “The legal implications of 'fatwā shopping' in the Islamic finance industry: problems, perceptions and prospects,” Arab Law Quarterly, (Scopus), 30(2), 2016, pp.107-137.

3. "Exploring musharakah taʿawuniyyah model in takaful”, International Sharīʿah Research Academy for Islamic Finance (ISRA) Research Paper No.71, 2014, pp.1-25.

4. Theory and Practice of Modern Islamic Finance: The Case Analysis From Australia. Florida: Universal Publishers, 2010, p.322.

5. “Islamic microfinance: the evidence from Australia,” Humanomics: The International Journal of Systems and Ethics, (Scopus), 25(3), 2009, pp.217-235.

6. “Riba and Islamic banking", Journal of Islamic Economics, Banking and Finance (Scopus), 2007, 3(1), pp.9-42. (Read 1,201 times until 17 April 2018 in ResearchGate)

7. “Regulation and performance of Islamic banking in Bangladesh,” Thunderbird International Business Review, (Scopus), 2007, 49(2), pp.251-277.

GRANT DETAILS

2018: UBD FIC Research Grant (Principal Investigator) on "Brunei Islamic Banking and Finance Forum" (BND7,867)

2018: UBD Competitive Research Grant (with Dr Minhaz Uddin, Dr Noor Faizah, Dr Natasha & Dr Aziah) on “Rapid, Simple and Sensitive Detection of Porcine and other Animal Species Using Lateral Flow Dipstick” (BND65,000), approval in progress

2018: UBD FIC Research Grant (Principal Investigator) on "Post Default Restructuring And Rescheduling: A Critical Analysis from Sharīʿah Perspectives" (BND23,220), approval in progress

2013: IRTI and IIUM Conference Research Grant (MYR2,000) as winner of the best paper award at the 2nd International Conference on Islamic Economics & Economies of the OIC Countries in Kuala Lumpur, Malaysia

RESEARCH OUTPUTS (PATENTS, SOFTWARE, PUBLICATIONS, PRODUCTS)

1.1 Publications

Apart from two major dissertations, which I wrote in fulfillment of the requirements for the degrees of my LLM (Hons.) and PhD at Western Sydney University, Australia and have since been published, I have been actively engaged in theoretical and empirical research and publication on Sharī‘ah aspects of Islamic banking and finance. These include the following peer reviewed journal articles, refereed book chapters, books, monographs, refereed conference proceedings and other intellectual contributions (in reverse order).

Forthcoming (accepted for publication)

1. "Governance and reporting practices ensuring accountability and building trust in waqf management: evidence from Bangladesh", accepted for publication in International Journal of Emerging Markets (Scopus).

2. "Post-default Sukuk restructuring: a systemic appraisal of Sharī‘ah issues", accepted for publication in International Finance Review (Scopus).

3. "Conventional futures: derivatives in Islamic law of contract", accepted for publication in International Journal of Law and Management (Scopus).

4. "Sukuk risks: a structured review of theoretical research", accepted for publication in Journal of Islamic Accounting and Business Research (Scopus).

5. "Takaful as a retirement plan preference in Malaysia: a qualitative approach", under review for publication in Journal of Islamic Economics, Banking and Finance (Scopus, ABS, ABDC).

6. "What determines bank profitability? empirical evidence from Turkish banking sector", under review for publication in International Journal of Law and Management (Scopus).

7. "Sharīah governance and risk management framework: a case of Islami Bank Bangladesh Ltd.", under review for publication in International Journal of Islamic and Middle Eastern Finance and Management (Scopus).

8. Fundamentals of Islamic banking and finance, a textbook at postgraduate level. Signed to be published by John Wiley & Sons, Singapore.

9. “Corporate social responsibility in Islamic banks’ practices: evidence from Bangladesh”, accepted for publication in Toseef Azid, et al, (eds.), Research in Corporate and Sharī‘ah Governance in the Muslim World: Theory and Practice, Emerald Group Publishing Limited, Bingley, United Kingdom.

10. “Takaful as a means for social welfare: transforming it to musharakah taʿawuniyyah model”, accepted for publication in M. N. Ali (ed.), Islamic Finance and Social Welfare, Qatar Faculty of Islamic Studies, Hamad Bin Khalifa University, and Islamic Research and Training Institute.

11. “Women empowerment and leadership in Islam: between myth and reality”, accepted for publication in Toseef Azid & Jennifer Batts (eds.). Economic Empowerment of Women in the Islamic World: Theory and Practice, World Scientific Publishing Company Pte Ltd., Singapore.

12. “Islamic commercial jurisprudence”, accepted for publication in M. Shammari et al. (eds.), Islamic business administration, Palgrave Macmillan.

13. "The challenges and potentials of Improving access to Islamic financial services in non-Muslim countries: the case of Australia", accepted for publication in Ghazali et al. (eds.), Management of Sharīʿah compliant businesses – case studies on creation of sustainable value, Springer.

2018

1. Evaluation of Takaful operators’ efforts in realising maqasid al-Sharīah". Journal of Islamic Monetary Economics and Finance. 3 (2), pp.397-412. http://journalbankindonesia.org/index.php/JIMF/issue/view/146

2017

1. “Revisiting Sharīʿah standards stock screening criteria”, International Journal of Business and Society (Scopus), 18(S1), pp.151-166. http://www.ijbs.unimas.my/images/repository/pdf/Vol18-S1-paper9.pdf

2. “Remodeling Islamic accountability for awqaf institutions: an integration of stewardship concepts”, Journal of Islamic Economics, Banking and Finance (Scopus), 13(2), pp.179-189. http://ibtra.com/pdf/journal/v13_n2_article10.pdf

3. “Issues deter the propelling growth of awqaf in Bangladesh and the way forward to its developments and widening the scope of its benefits”, in Alam, N. and Rizvi, S.A.R. (eds.), Islamic Economies: Stability, Markets and Endowments, Palgrave Macmillan, pp.79-98.

4. “The nature of retakaful: risk sharing or transferring risks?” in M. Nazim Ali et al, eds. Takaful and Islamic cooperative finance, Edward Elgar Publishing Limited, Cheltenham: United Kingdom, pp.171–191.

5. “Achieving sustainable economic development through Islamic microfinance and potential of proposed two tier mudarabah waqf business model", in M. K. Hassan (ed.), Handbook of empirical research on Islam and economic life, Edward Elgar Publishing, pp.193-212.

6. “Regulation, performance and future challenges of sukuk: the evidence from Asian markets”, in Mutum, D. et. al (eds.), Advances in Islamic finance, marketing and management: an Asian perspective, Emerald Group Publishing Limited, Bingley, United Kingdom, pp.27-48.


2016

1. “The institutional framework for alternative dispute resolution in Islamic finance: evidence from Malaysia", Journal of Islamic Economics, Banking and Finance (Scopus), 12(2), pp.146-184. http://ibtra.com/pdf/journal/v12_n2_article8.pdf

2. “The legal implications of fatwā shopping in the Islamic finance industry: problems, perceptions and prospects,” Arab Law Quarterly (Scopus & ISI), 30(2), pp.107-137. http://booksandjournals.brillonline.com/content/journals/10.1163/15730255-12341319

3. “Towards a global hub: the legal framework for dispute resolution in Malaysian Islamic finance industry,” International Journal of Law and Management (Scopus), 58 (1), pp.48-72. http://www.emeraldinsight.com/doi/abs/10.1108/IJLMA-08-2014-0052

4. “Retakāful: risk sharing vs. risk transfer: an examination from the Sharīʿah perspective”, International Sharīʿah Research Academy for Islamic Finance (ISRA) Research paper No. 85/2015, pp.1-23. http://ifikr.isra.my/library/pub/7302

5. “Zakah – a comprehensive and effective redistribution strategy for an economy ensuring poverty alleviation and distributive justice,” IIUC Business Review, vol.4, December 2015, pp.81-100. file:///C:/Users/techzone/Downloads/Dr.%20Abu%20Umar%20Faruq%20Ahmad%20(3).pdf

6. “Islamic insurance: a cooperative model”, in E. A. Alim et al, eds. Islamic Commercial Law Report 2016. Kuala Lumpur, Dubai: International Sharī‘ah Research Academy for Islamic Finance (ISRA), Thomson Reuters, pp.90-92.


2015

1. “Sharing and transferring risks in retakaful and conventional reinsurance: a critical analysis”, Journal of King Abdulaziz University: Islamic Economics (Scopus), 28(2), pp.117-154. http://iei.kau.edu.sa/Files/121/Files/153874_28-2-04-AbuUmar-6.pdf

2. “Dispute resolution in Islamic finance: a case analysis of Malaysia,” in H.A. El-Karanshawi et al (eds.), Ethics, governance and regulation in Islamic finance. Doha: Bloomsbury Qatar Foundation, pp.125-135.

3. “The search for an alternative to practice of the concept of tabarruʿ in takaful business models,” ISRA-Bloomberg Bulletin, February.


2014

1. “The cross-products analysis of Islamic housing finance market: a case of the UK”, Journal of Islamic Economics, Banking and Finance (Scopus), 10(4), pp. 50-73. http://ibtra.com/pdf/journal/v10_n4_article3.pdf

2. “Perception of bankers and customers towards deposit and investment mechanisms of Islamic and conventional banking: empirical evidence from Bangladesh,” Journal of Islamic Business and Management,” 4(2), pp.91-114. http://www.jibm.org/sites/default/files/files/Perception%20about%20Islamic%20Banking%20in%20Bangladesh%20-%20A_U_Faruq%20et%20al.pdf

3. “Challenges and potentials of Islamic financial products in the Australian financial market regulation,” IIUC Business Review, 3 June, pp.25-55.

4. “An exploratory analysis of Islamic finance products for housing finance in the UK market”, International Journal of Excellence in Islamic Banking and Finance,” 4(2), pp.1-19. file:///C:/Users/techzone/Downloads/Article_281%20(1).pdf

5. “Authority of qawl al-sahabi in fiqh and its application in modern Islamic finance”, Journal of Islamic Business and Management,” 4(1), pp.125-142. http://jibm.org/sites/default/files/files/Authority%20of%20Qawl%20al%20Sahabi%20in%20Fiqh%20%20and%20its%20Application%20in%20Modern%20Islamic%20Finance.pdf

6. “Liquidity management of Islamic banks: the evidence from Malaysian practice”, The Global Journal of Finance and Economics, 11(2), pp.175-186. http://serialsjournals.com/serialjournalmanager/pdf/1465816304.pdf

7. “Exploring musharakah taʿawuniyyah model in takaful”, International Sharīʿah Research Academy for Islamic Finance (ISRA) Research paper No. 71, pp.1-25.

8. “The search for an alternative to tabarruʿ in takaful models,” Business and Management Engineering, 2(1), p.380.

9. “Laws and regulations of Islamic finance: the evolution and challenges,” ISRA Islamic Finance Space, December, 02, pp.8-9.

10. “The legal and structural framework for the issuance of sukuk,” Islamic Finance News, 17 September, 11(37).

11. “Sukuk: an appraisal of Sharīah related issues and the way forward,” ISRA-Bloomberg Bulletin, August, pp.1-3.


2013

1. “Regulatory impediments to Islamic finance the UK and Australia compared,” Journal of Islamic Economics, Banking and Finance (Scopus), 9(4), pp.91-114. http://ibtra.com/pdf/journal/v9_n4_article5.pdf

2. "Islamic banking: between myths and reality,” Australian Journal of Basic and Applied Sciences (Scopus), 7(6), pp.323-329. http://www.ajbasweb.com/old/ajbas/2013/April/323-329.pdf

3. “Islamic finance in Australia: a critical analysis from taxation and prudential standards perspectives,” Advances in Natural and Applied Sciences (Scopus), 7(2), pp.149-164. http://www.aensiweb.com/old/anas/2013/149-164.pdf

4. “Corporate social responsibility in Bangladesh – the role of Islami Bank Bangladesh Limited,” International Journal of Excellence in Islamic Banking and Finance, 3(1), pp.66-79. file:///C:/Users/techzone/Downloads/Article_264%20(2).pdf

5. “How Sharīah compliant is Islamic banking,” in Sharīah Economics Conference 2013, Hannover, Germany 09 February, pp.100-107.

6. “Are sukuk different from conventional bonds?” Global Islamic Economics Magazine, September (16), pp.58-59.


2012

1. “Sharīah parameters of murabaha in Islamic finance: the Australian experience,” International Journal of Excellence in Islamic Banking and Finance, 2(1), pp.1-34. https://platform.almanhal.com/Files/2/39018

2. “Opportunities of Islamic finance in the Australian market in the aftermath of the global financial crisis,” Journal of Islamic Economics, Banking and Finance (Scopus), 7(4), pp.43-64. http://ibtra.com/pdf/journal/v7_n4_article3.pdf

3. “Corporate social responsibility in Bangladesh: the role of Islami Bank Bangladesh Limited,” in 6th Quality Conference in the Middle East – Innovation Based Competitiveness and Business Excellence, Dubai, UAE 30 January-02 February, pp.103-111.

4. “Blazing the trail: the institutional framework for dispute resolution in Malaysian Islamic finance industry,” ISRA International Journal of Islamic Finance (Scopus), 4(2), pp.159-165.


2011

1. “Sharīah parameters of musharaka mutanaqisa in Islamic finance: the experience of Australian institutions offering Islamic financial service,” ISRA International Journal of Islamic Finance (Scopus), 3(2), pp.7-40. http://ifikr.isra.my/library/pub/139

2. “Current regulation and supervision for Islamic financial market: evidence from Australia,” International Journal of Excellence in Islamic Banking and Finance, 1(1), pp.32-46. https://journals.hbmsu.ac.ae/Pages/Articles.aspx?AID=192&IID=43

3. Principles and practices of Islamic microfinance for a global economy: the case of Bangladesh, Saarbrucken: LAP LAMBERT Academic Publishing GmbH&Co.

4. “Developments in Islamic finance practice: the experience of Australia,” in M. K. Hassan, and H.M. Mahlknecht (eds.), Islamic capital markets: products and strategies. London: John Wiley & Sons Ltd, pp.341-356.

5. “Islamic financial products: salient features,” In, Dubai Exports and Zawya (ed.) The UAE Islamic financial services directory 2011, pp.11-32.

6. “A critical analysis of musharaka mutanaqisa (MM) practice by the Islamic financial services providers: the case of Australia,” in 1st International Conference on Banking and Finance Perspectives, Famagusta, North Cyprus 13-15 April, pp.1-21.


2010

1. “Housing finance of Australian Islamic financial services providers (IFSPs): a case analysis from Sharīah perspectives,” IIUM Journal of Economics and Management, 18(1), pp.1-43. file:///C:/Users/techzone/Downloads/163-1-263-1-10-20130304.pdf

2. “Sharīah maxims and their implication on modern financial transactions. Journal of Islamic Economics, Banking and Finance (Scopus),” 6(3), pp.75-104. http://ibtra.com/pdf/journal/v6_n3_article4.pdf

3. Theory and practice of modern Islamic finance: the case analysis from Australia. Florida: Universal Publishers.

4. Developments in Islamic banking practice: the evidence from Bangladesh. Florida: Universal Publishers.


2009

1. “Quality perception of the customers towards domestic Islamic banks in Bangladesh,” Journal of Islamic Economics, Banking and Finance (Scopus), 6(1), pp.109-131. http://ibtra.com/pdf/journal/v5_n1_article5.pdf

2. “Islamic microfinance: the evidence from Australia,” Humanomics: The International Journal of Systems and Ethics (Scopus), 25(3), pp.217-235. http://ibtra.com/pdf/journal/v4_n2_article3.pdf

3. “Legal and regulatory issues of Islamic finance in Australia,” International Journal of Islamic and Middle Eastern Finance and Management (Scopus), 2(4), pp.305-322. http://www.mbri.ac.ir/userfiles/file/Islamic%20Banking/%D8%A8%D8%A7%D9%86%DA%A9%20%D9%85%D9%82%D8%A7%D9%84%D8%A7%D8%AA/Regulating%20Islamic%20financial%20institutes/Legal%20and%20regulatory%20issues%20of%20Islamic%20finance%20in%20Australia.pdf


2008

1. “Islamic micro and medium sized enterprises (MMEs) finance: the case study of Australia,” in M. Obaidullah, and H.S. Abdul Latif (eds.), Islamic finance for micro and medium enterprises. Jeddah: IRTI, and Brunei: UBD, pp.240-264. . http://ibtra.com/pdf/journal/v4_n2_article3.pdf

2. “A historical evolution of Islamic banking and capital market: where are we now?” Global Islamic Economics Magazine, March (22), 2014, pp.75-76.

3. “Regulation and supervision of Islamic financial services providers: the UK and Australian approaches,” The American Journal of Islamic Finance, August 13, pp.41-57. http://ierc.sbu.ac.ir/File/Article/Regulation%20and%20Performance%20of%20Islamic%20Banking%20in%20Bangladesh_94231.pdf


2007

1. “Islamic microfinance: a case study of Australia,” Journal of Islamic Economics, Banking and Finance (Scopus), 4(2), pp.59-80. http://ibtra.com/pdf/journal/v4_n2_article3.pdf

2. “Riba and Islamic banking, Journal of Islamic Economics, Banking and Finance (Scopus),” 3(1), pp.9-42. http://ibtra.com/pdf/journal/v3_n1_article1.pdf

3. “Regulation and performance of Islamic banking in Bangladesh,” Thunderbird International Business Review (Scopus), 49(2), pp.251-277. http://ierc.sbu.ac.ir/File/Article/Regulation%20and%20Performance%20of%20Islamic%20Banking%20in%20Bangladesh_94231.pdf

4. “Islamic micro and medium sized enterprises (MMEs) finance: the case study of Australia,” in: IRTI (Islamic Research & Training Institute), and UBD (Universiti Brunei Darussalam), 1st International Conference on Inclusive Islamic Financial Sector Development, Brunei Darussalam 17-19 April, pp.816-844. http://ibtra.com/pdf/journal/v4_n2_article3.pdf

5. “Relevance of the UK approach to the Australian experience in Islamic banking,” Islamic Finance News, 4(47), pp.15-16.

6. “Development of Islamic banking in Bangladesh,” Islamic Finance News, 4(23), pp.13-14.

7. “The legal and regulatory framework of Islamic banking in Bangladesh,” Islamic Finance News, 4(23), pp.15-17.

8. “Financial transactions in Islam: historical evolution,” Global Islamic Finance Magazine, 1(1).


2006

1. “Zakah and re-distributive justice in Islam,” Journal of Muamalat and Islamic Finance Research, 3(1), pp.1-21. http://ddms.usim.edu.my/handle/123456789/5306

2. “The adoption of the UK finance bill proposals on Islamic finance into Islamic banking in Australia,” Review of Islamic Economics, 10(1), pp.41-57.

3. “The time value of money concept in Islamic finance,” American Journal of Islamic Social Sciences, 23(1), pp.66-89. http://iefpedia.com/english/wp-content/uploads/2009/11/The-Time-Value-of-Money-Concept-in-Islamic-Finance.pdf

4. “Legislation and issues on Islamic banking in Bangladesh,” in: Islamic Research & Training Institute, and Universiti Teknologi Mara, 1st International Forum on Islamic Economics, Finance and Business for Young Scholars, Langkawi, Malaysia 18-20 April, pp.261-279.


1.2 Oral Presentations at International Conferences/Forums

2018

"The proposed cooperative participation model of Islamic insurance: an alternative to takaful business models". The 2nd International Conference on Islamic, Education and Law. 14-15 April. Kelantan, Malaysia.

2017

"Sharī‘ah and legal dimensions of post default sukuk restructuring: a critical analysis". The 3rd Islamic Finance Conference Entrepreneurial Finance. 21 December. Jeddah, Saudi Arabia.

"A critical review of takāful companies’ contributions to economic developments in fulfillment of maqasid al-sharīʿa. Thematic Workshop on Enhancing Poor’s Capability and Financial Inclusion from Islamic Perspective. 11-12 December 2017. Islamabad, Pakistan.

"Accountability concept in awqaf institutions: an analysis from Islamic perspectives. The Islamic Economic System Conference (iECONS 2017). 12-13 December 2017. Muscat, Oman.

"Evaluation of takāful operators’ efforts in realising maqasid al-sharīʿah: evidence from Malaysia". The 3rd International Islamic Monetary Economics and Finance Conference. 08-09 November 2017. Jakarta, Indonesia.

"Opportunities and challenges of waqf in Bangladesh: the way forward for socio-economic development". Research Workshop on Revival of Waqf for Socio Economic Development. 4-5 November. Dhaka, Bangladesh.

“Socially responsible Islamic investment: a review of related literature”. International Conference on Business, Economics and Finance. 23-24 August. Universiti Brunei Darussalam. Brunei, Brunei.

“An analysis on the role of Islamic microfinance as a strategy in meeting the challenges of poverty in the ASEAN region”. International Conference on Business, Economics and Finance. 23-24 August. Universiti Brunei Darussalam. Brunei.

“The issue of post default sukuk restructuring: a Sharī‘ah analysis”. 4th International Islamic Economics and Finance Congress. 15-16 July. Istanbul Sabahattin Zaim University. Istanbul, Turkey.


2016

“Potentials of using awqaf funds in Muslim societies in stimulating economic growth: an analysis in the context of Bangladesh”. 11th International Conference on Islamic Economics and Finance. 11-13 October. Kuala Lumpur, Malaysia.

“Legal, regulatory and other key issues pertaining to sukuk. UBDSBE Seminar Presentation. 27 April. Universiti Brunei Darussalam, Bandar Seri Begawan, Brunei.

“Al-mudarabah business model on cash waqf: an alternative paradigm to Islamic microfinance. The 2nd Islamic Finance Conference Islamic Microfinance and Social Responsibility. 20-21 April. Jeddah, Saudi Arabia.

“Corporate social responsibility practices of Islamic banks: evidence from Bangladesh”. UQU First International Conference on Islamic Banking and Finance. 06-08 March. Makkah, Saudi Arabia.

“The role of alternative dispute resolution towards enhancing the effective regulatory framework for Islamic financial market: evidence from Malaysia”. UQU First International Conference on Islamic Banking and Finance. 06-08 March. Makkah, Saudi Arabia.


2015

“Legal, regulatory and other key issues pertaining to Sukuk”. International Congress on Islamic Economics and Finance. 21-23 October 2015, Sakarya, Turkey.

“Promoting maqāṣid al- Sharī‘ah and achieving sustainable economic development: the potential of proposed two tier mudārabah business model on cash waqf”. The 1st International Conference on Shari`ah Oriented Public Policy in Islamic Economic System. 30-31 March. Aceh, Indonesia.

“A case for transforming takāful from corporation to mushārakah taʿāwuniyyah model”. 9th International Conference on Islamic Economics and Finance. 23-25 April. Doha, Qatar.

“Sharī‘ah issues in retakāful. 9th International Conference on Islamic Economics and Finance. 23-25 April. Doha, Qatar.

“Can alternative dispute resolution mechanisms resolve Islamic finance disputes in Malaysia?” International Conference on Management, Education and Social Sciences Research. 04-05 April. Karachi, Pakistan.

“Liquidity management of Islamic banks: the evidence from Malaysian practice”. Sydney International Business Research Conference. 17-19 April. Sydney, Australia.

“Diminishing partnership practice of Islamic financial services providers: the case of Australia”. UBDSBE Seminar Presentation. 13 January. Universiti Brunei Darussalam, Bandar Seri Begawan, Brunei.

“The potential of zakah in redistributing economic justice and poverty alleviation: a case study of Bangladesh”. International Conference on Development of Social Enterprise and Social Business for Eradication of Extreme Poverty and Street Begging. 19-20 December. Chittagong, Bangladesh.


2014

“Corporate social responsibility (CSR) initiatives of Islamic banks: empirical evidence from Bangladesh”. 1st Sharjah International Conference on Islamic Finance. 5-6 November. Sharjah, UAE.

“Musharakah ta‘awuniyyah: exploring an alternative to the application of the doctrine of tabarru‘ in takaful”. 2nd ASEAN International Conference on Islamic Finance. 12-14 November. Yogyakarta, Indonesia.

“The nature of retakaful: risk sharing or transferring risks?” 11th Harvard University Forum on Islamic Finance -Takaful and Alternative Cooperative Finance: Challenges and Opportunities. 25-27April. Massachusetts: USA.

“Developments and challenges in legal infrastructure of sukuk: a cross country analysis”. 6th IFSB Legal Seminar on Innovation in Sukūk Securitisation and Islamic Hedging Instruments: Developments and Challenges. 25 March. Bandar Seri Begawan, Brunei.


2013

“Sharī‘ah scholars, ijtihad and decision making in Islamic finance”. International Seminar on Usul Fiqh 2013, 23-24 October. Kuala Lumpur, Malaysia.

“Status of qawl al-sahabi, vis-a-vis its importance and application in modern Islamic finance”. International Seminar on Usul Fiqh 2013. 23-24 October. Kuala Lumpur, Malaysia.

“Role of zakah in poverty alleviation through re-distributive justice”. World Universities Islamic Philanthropy Conference 2013. 04-05 December. Kuala Lumpur, Malaysia.

“Regulatory impediments to Islamic finance: the UK and Australia compared”. 2nd International Conference on Islamic Economics & Economies of the OIC Countries. 29-30 January. Kuala Lumpur, Malaysia.

“An exploratory study of Islamic housing finance market: a case of the UK”. 2nd International Conference on Islamic Economics & Economies of the OIC Countries. 29- 30 January. Kuala Lumpur, Malaysia.

“The legal implications of ‘fatwa shopping’ in the Islamic finance industry: problems, perceptions and prospects”. 2nd International Conference on Islamic Economics & Economies of the OIC Countries. 29-30 January. Kuala Lumpur, Malaysia.

“How ‘Sharī‘ah compliant’ is Islamic banking”. Sharī`ah Economics Conference 2013. 09 February. Hannover, Germany.


2011

“Corporate social responsibility in Bangladesh: the role of Islami Bank Bangladesh Limited”. 6th Quality Conference in the Middle East – Innovation based Competitiveness and Business Excellence. 30 January - 02 February. Dubai, UAE.

“Dispute resolution in Islamic finance: a case analysis of Malaysia”. 8th International Conference on Islamic Economics and Finance. 19-21 December. Doha: Qatar.

“A critical analysis of musharakah mutanaqisah (MM) practice by the Islamic financial services providers: the case of Australia”. 1st International Conference on Banking and Finance Perspectives. 13-15 April. Famagusta, North Cyprus.

“The case of Australia: assessing the practice of diminishing partnership (DP) by the Islamic financial services providers”. 2nd Annual Middle East Public Private Partnership. 06-07 February. Abu Dhabi, UAE.


2010

“The impact of global financial crisis on Islamic financial sectors: opportunities of Islamic finance to tap into the Australian market”. International Research Conference on Global Financial Crisis and the Resilience of Islamic Financial Services. 13 December. Kuala Lumpur, Malaysia.

“Regulation and supervision of Islamic financial services providers (IFSPs): a case study of Australia”. 4th International Conference on Islamic Banking and Finance: Risk Management, Regulation and Supervision. 4-6 April. Khartoum, Sudan.

“Islamic finance in Australia: the potential problems and prospects”. 7th International Conference. The Tawhidi Epistemology: Zakat and Waqf Economy. 06-07 January. Selangor, Malaysia.


2009

“Housing finance of Australian Islamic financial services providers (IFSPs): an empirical analysis from Sharī‘ah perspectives”. 1st International Conference on Islamic Economics and Economies of the OIC Countries. 28-29 April. Kuala Lumpur, Malaysia.


2008

“Regulation of Islamic finance in Australia: challenges and opportunities, MCFS Symposium - Islamic Financial Services: What Role for Australia?” 21 November. Melbourne, Australia.

“Regulatory challenges and opportunities: a case of Australia”. Islamic Banking and Finance Symposium: Ethics and Financial Practice in Global Perspective. 20 November. Melbourne, Australia.

“Islamic banking: a case analysis from Bangladesh”. Islamic Banking and Finance Symposium: Ethics and Financial Practice in Global Perspective. 20 November. Melbourne, Australia.

“Legal and regulatory issues of Islamic finance industry: the evidence from the UK and Australia”. 6th International Islamic Finance Conference. 13-14 October. Kuala Lumpur, Malaysia.

“Islamic microfinance: evidence from Australia”. 6th International Conference on Islam and the World System, Unity of the Sciences. 14-15 January. Chittagong, Bangladesh.


2007

“Sharī‘ah-based banking: evidence from Bangladesh”. 2nd Islamic Economics Conference: Comprehensive and Balanced Development among Islamic Countries: Cooperation, Opportunities & Challenges. 17-19 July. Kuala Lumpur, Malaysia.

“Islamic micro and medium sized enterprises (MMEs) finance: the case study of Australia”. 1st International Conference on Inclusive Islamic Financial Sector Development. 17-19 April. Brunei.


2006

“Legislations and issues on Islamic banking in Bangladesh”. 1st International Forum on Islamic Economics, Finance and Business for Young Scholars. 18-20 April. Langkawi, Malaysia.

“Legal and regulatory issues of Islamic finance in Australia”. INCEIF Islamic Banking and Finance Educational Colloquium 2006. 03-05 April. Kuala Lumpu,: Malaysia.


2005

“The adoption of the UK finance bill proposals on Islamic finance into Islamic banking in Australia”. 12th Global Finance Conference. 27-29 June. Dublin, Ireland.

“The monetary valuation of time in Islamic finance”. 12th Global Finance Conference. 27-29 June. Dublin, Ireland.


2004

“Time value of money: Islamic perspectives”. International Seminar on Financial Management from an Islamic Perspective. 21-23 December. Dhaka, Bangladesh.

“Islamic banking in Bangladesh: legal and regulatory issues”. 6th Harvard University Forum on Islamic Finance. 08-09 May. Massachusetts, USA.


Manuscripts Submitted/Accepted for Oral Presentations

“Evaluation of takāful operators’ efforts in realising maqasid al-Sharīʿah: evidence from Malaysia”. 3rd International Islamic Monetary Economics and Finance Conference. 8-9 November, 2017. Surabaya, Indonesia.

“A critical appraisal to key money in Islamic finance”. Islamic Monetary Economics and Institutions: Theory and Practice 2017. 1-2 November, 2017. Male, Maldives.

“Liquidity management and financial performance: the case of Malaysian Islamic banks”. Islamic Monetary Economics and Institutions: Theory and Practice 2017. 1-2 November, 2017. Male, Maldives.

“Can gross domestic products growth link instrument be used as a benchmark for Islamic monetary policy”? Islamic Monetary Economics and Institutions: Theory and Practice 2017. 1-2 November, 2017. Male, Maldives.

“Opportunities and challenges of waqf in Bangladesh: the way forward for socio-economic development”. Research Workshop on Revival of Waqf for Socio-Economic Development. 4-5 November, 2017. Dhaka, Bangladesh.

“Accountability of awqaf management: an analysis from Islamic legal perspectives”. Research Workshop on Revival of Waqf for Socio Economic Development. 4-5 November, 2018. Dhaka, Bangladesh.

“Search for real economy foundations of Islamic economy: can GDP growth link instrument be used for Islamic monetary policy? Accepted for presentation at the 12th ICIEF: The 12th International Conference for Islamic Economics and Finance. 25-28 March, 2018. Makkah, Saudi Arabia.

“Transaction cost: the economising role of Islamic institutions”. Accepted for presentation at the 12th ICIEF: The 12th International Conference for Islamic Economics and Finance. 25-28 March, 2018. Makkah, Saudi Arabia.


2. RESEARCH CONTRIBUTIONS

2.1 Research Grant/Funding

2017: Universiti Brunei Darussalam Conference Grant (BND 5,000) Istanbul Sabahattin Zaim University, Turkey.

2015: Universiti Brunei Darussalam Conference Grant (BND 5,000) Sakarya University in Sakarya, Turkey.

2014: International Sharīʿah Research Academy for Islamic Finance Conference Grant (RM30,000), Harvard University in Cambridge, USA.

2014: International Sharīʿah Research Academy for Islamic Finance Conference Grant (MYR 10,000) for paper presentation. The 6th IFSB Seminar on Legal Issues in the Islamic Financial Services Industry in Brunei Darussalam.

2013: IRTI and IIUM Best Paper Presentation Award (MYR 2,000) in Islamic finance stream at the 2nd International Conference on Islamic Economics & Economies of the OIC Countries in Kuala Lumpur, Malaysia.

2011: Hamdan Bin Mohammed Smart University Conference Grant (AED 8,000) for paper presentation. ICBFP`2011 in Famagusta.

2005: University of Western Sydney Conference Scholarship (AUD 5,000) under Higher Degree Research Support Scheme Global. Finance Conference, Trinity College, Dublin.

2004: University of Western Sydney Postgraduate Research Grant (AUD 3,000). Harvard University in Cambridge.


Research Funding in Progress

1. “Rapid, simple and sensitive detection of porcine and other animal species using lateral flow dipstick”. Concept note submitted (July 2017) to UBD for Competitive Research Grant (CRG) through Faculty of Sciences for BND 60,000 research grant.

2. "Post default restructuring and rescheduling: a critical analysis from Sharīʿah perspectives". Concept note submitted (January 2018) to UBD for FIC Research Grant (FRG) through School of Business and Economics (UBDSBE) for BND 23,220 research grant.

2.2 Postgraduate Students

PhD Thesis Supervision

My supervisory role: Principal Supervisor
Name of student: Ssemambo Hussein Kakembo
Title of thesis: Analysing the Role of Islamic Microfinance as an Ethical Alternative to Poverty Alleviation Among Muslims in Uganda
Date commenced: March 2017
Date of anticipated completion: 2020

Theses Examination

Name of university Department Thesis Year of examination Type of examination

Universiti Islam Sultan Sharif Ali Faculty of Shariah Doctoral thesis 2017 External
Universiti Teknologi MARA Faculty of Accountancy Doctoral thesis 2017 External
Universiti Brunei Darussalam School of Business and Economics Masters thesis 2016 Internal
Victoria University, Australia School of Social Sciences and Psychology Doctoral thesis 2014 External
La Trobe University, Australia School of Economics and Finance Doctoral thesis 2013 External

Student Advisor

2010 - 2012: Acted as academic advisor of 120 students, School of Business and Quality Management at Hamdan Bin Mohammed Smart University, Dubai.

Supervisor: Project Paper

2015 - Present: Supervised 10 Internship project papers as Supervisor at UBD School of Business and Economics, Universiti Brunei Darussalam.

2013 - 2015: Supervised 112 Internship project papers as Supervisor, INCEIF, The Global University of Islamic Finance, Kuala Lumpur, Malaysia.

2010 - 2012: Supervised 12 Internship project papers as Supervisor, eSchool of Business and Quality Management at Hamdan Bin Mohammed Smart University, Dubai.


Jury Board: Member

International Research, Invention and Innovation Exhibition 2014 (IRIIE), International Islamic University Malaysia

Assessor, Faculty Member Promotion 2014, International Islamic University Malaysia.

2.3 Services to Research

Editor: Academic Peer Reviewed Journal

2010 - 2016: International Journal of Excellence in Islamic Banking and Finance, UAE, (International) - Editor

Editor: Associate Editor

2013 - Present: Australian Journal of Basic and Applied Sciences, Jordan. (International) – Senior Editor

2013 - 2015: ISRA International Journal of Islamic Finance, Malaysia. (International) – Co-editor


3. RESEARCH RECOGNITION

3.1 Peer recognition

Keynote Address

“Can alternative dispute resolution mechanisms resolve Islamic finance disputes in Malaysia?” International Conference on Management, Education and Social Sciences Research. 04-05 April, 2015. Karachi, Pakistan

“Sharī‘ah scholars, ijtihad and decision making in Islamic finance”, International Seminar on Usul Fiqh 2013, 23-24 October, 2013. Kuala Lumpur, Malaysia.

“Problems of Islamic banking in Bangladesh”, Seminar of Islamic Economics Research Bureau Bangladesh. 09 January. Dhaka, Bangladesh.


3.2 Invited Speech

“Developments and challenges in legal infrastructure of Sukuk: a cross country analysis”. 6th IFSB Legal Seminar on Innovation in Sukūk Securitisation and Islamic Hedging Instruments: Developments and Challenges. 25 March. Bandar Seri Begawan, Brunei.

“Islamic banking: the evidence from Bangladesh”, International Islamic University Chittagong (IIUC). 31 December, 2001. Chittagong, Bangladesh.

“Islamic microfinance in Australia”, BIBF (Bahrain Institute of Banking and Finance). 17 May, 2006. Manama: Bahrain.

CONSULTANCY

I have recently been appointed as Honorary 'Sharī‘ah Audit Executive' of Islamic Bank of Australia, the first Australian owned fully functional Islamic bank project in Australia under the Islamic Financial Services Australia (IFSA).

My consultancy also includes the following, among others.

Journals' Editorial Advisory Board Member

2017 - Present: Journal of Islamic Law and Judiciary, Bangladesh
2016 - Present: Shirkah Journal of Economics and Business, Indonesia
2014 - Present: International Journal of Islamic Thoughts, Bangladesh
2014 - Present: Journal of Islamic Economics, Banking and Finance (Scopus), Bangladesh
2010 – Present: Humanomics: The International Journal of System and Ethics, UK (Scopus)
2010 – Present: Journal of Islamic Accounting and Business Research, UK (Scopus)
2009 – Present: International Journal of Islamic and Middle Eastern Finance and Management, UK (Scopus)
2009 – Present: The Open Law Journal, USA
2008 – Present: Global Islamic Finance Magazine, UK

Ad hoc Reviewer for Peer Reviewed Refereed Journals

2016 - Journal of King Abdulaziz University: Islamic Economics (Scopus)
2015 - Present: Deakin Law Review, Australia (ABDC)
2010 – Present: University of New South Wales Law Journal, Australia (ABDC)
2009 – Present: Islamic Economic Studies, Saudi Arabia
2009 – Present: Review of Islamic Economics, UK
2009 – Present: African Journal of Business Management, South Africa
2008 – Present: American Journal of Islamic Social Sciences, USA
2007 – Present: Thunderbird International Business Review, USA (Scopus)

Industry, Institute, or Organisation Collaboration

I have active collaboration with Islamic finance industry since 1997. I have been invited as speaker by Islamic Research and Training Institute (IRTI) of Islamic Development Bank (IsDB), Jeddah at many international conferences held in Brunei, Bangladesh, Malaysia, Sudan, Nigeria, Qatar, Saudi Arabia and Indonesia. I have also been invited by Islamic Financial Services Board as keynote speaker at the 6th IFSB Seminar on Legal Issues in the Islamic Financial Services Industry held in Brunei in 2014. I have also been engaged by International Sharī‘ah Research Academy for Islamic Finance (ISRA), Khazanah Nasional, and Securities Commission (SC) Malaysia as coordinator of a book publication project entitled 'A Textbook on Sukuk' which is published in 2017.

INDUSTRY EXPERIENCE

June, 2016 – Present: Sharī‘ah Audit Executive, Islamic Bank Australia Project, Sydney, Australia

July, 1998 – Present: Chairman, Sharī‘ah Supervisory Board, Islamic Cooperative Finance Australia Limited, Sydney, Australia

November, 1997 - July, 2000: Islamic Legal Advisor, Bangladesh Islamic Centre of NSW Inc., Sydney, Australia

March, 1997 - November, 1997: Sharī‘ah Supervisor, Islami Bank Bangladesh Limited, Bangladesh

SOCIAL, ECONOMIC, or ACADEMIC BENEFITS

I have gained plethora of experience in meaningful community engagement and partnership initiatives beginning from my work as Executive Director of an NGO in Bangladesh, an ongoing Advisor of Bangladesh community organisation (Bangladesh Islamic Center Inc.) living in Sydney and my current role as Advisory Board Chairman of 2 community welfare organisations in Sydney, namely the Australian Muslim Welfare Center Inc. and Islamic Cooperative Finance Australia Limited. Besides, I have championed Islamic finance in Australia. My research on the subject is the first landmark contribution to Australian Islamic finance in terms of its regulation and the Sharī‘ah compliance of its current practice. Given the recommendations I have made in my groundbreaking work on Theory and practice of modern Islamic finance: The case analysis from Australia, the Australian government is now taking serious steps to promote Islamic finance as an opportunity for Australia to access offshore capital pools from the Middle East and Asia to finance domestic investment needs. In response to Dr Ahmad's recommendations, Australia is now also planning legislative changes to provide a level playing field for Islamic finance products. His contributions have greatly helped nurture Islamic finance in Australia.

In recognition of my reputation and contribution to research in the Australian Islamic finance industry, I was approached by the NSW Department of Premier and Cabinet to help introduce laws in Australia in order to create a level playing field for Islamic and non-Islamic finance. Along with many others in this field, my pioneering efforts during the last 20 years have resulted in wider acceptance for Islamic finance and it is hoped that the relevant regulatory bodies in Australia will introduce independent Islamic finance regulations in the near future.