Prof Faruq Ahmad

Islamic Economics Institute

P. O. Box 80214

Jeddah, 21589

Saudi Arabia

Universiti Brunei Darussalam

Associate Professor

School of Business and Economics

Jalan Tungku Link

Muara Brunei, AK Muara Brunei BE1410 B

Brunei

http://https://expert.ubd.edu.bn/umar.ahmad

International Centre for Education in Islamic Finance (INCEIF)

Lorong Universiti A

Kuala Lumpur

Kuala Lumpur, WY WP 59100

Malaysia

Hamdan Bin Mohammed Smart University

Dubai Academic City

P.O.Box 71400

Dubai

United Arab Emirates

Islamic Cooperative Finance Australia Ltd

Chairman, Shariah Supervisory Committee

Suite 12, Upper Ground Floor

55 Phillip Street

Parramatta, NSW , New South Wales 2150

Australia

http://https://icfal.com.au

SCHOLARLY PAPERS

19

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Ideas:
“  Currently, I am working as Associate Professor of Islamic Finance Law at the Islamic Research Institute, KAU, Jeddah. I have earned BA in Shari`ah from Islamic University of Madinah; PhD (with High Distinction) and an LLM (Hons.) from Western Sydney University, Sydney, Australia. My key research interests revolve around laws and regulation of Islamic Finance, Shariah, Fiqh and Usul al-Fiqh. I have Held various positions during my over 35 years of professional career, which include Associate Professor, Senior Teacher, Senior Researcher, Executive Director, Journal Editor, Translator, Interpreter, Imam cum Islamic Counselor, and Shariah advisor during my work in Australia, Bangladesh, Brunei, Kuwait, Malaysia, UAE and Saudi Arabia. I am a highly passionate, competitive, and creative individual. My hobbies are what have developed my ambitious and disciplined nature. My goal is to spend adding value to the spaces that I thrive in.  ”

Scholarly Papers (19)

1.

Authority of Qawl Al-Sahabi in Fiqh and its Application in Modern Islamic Finance

Number of pages: 15 Posted: 22 Jun 2018 Last Revised: 03 Jul 2020
Prof Faruq Ahmad and Farrukh Habib
Islamic Economics Institute and International Centre for Education in Islamic Finance (INCEIF)
Downloads 186 (203,267)

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Mathhab al-Sahabi, Fatwa of the companions, Usul al-Fiqh, Fiqh al-Mu'amalat, Islamic Finance

2.

Sharing and Transferring Risks in Retakāful and Conventional Reinsurance: A Critical Analysis

Journal of King Abdulaziz University: Islamic Economics, Vol. 28, No. 2, 2015
Number of pages: 36 Posted: 07 Nov 2017
Prof Faruq Ahmad, Ismail Mahbob and Muhammad Ayub
Islamic Economics Institute, Independent and Riphah International University
Downloads 63 (429,623)

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retakāful, conventional reinsurance, retakāful operators, retakāful fund, risk-sharing, risk-transfer, qarḍ ḥasan, commission

3.

Blazing the Trail: The Institutional Framework for Dispute Resolution in Malaysia's Islamic Finance Industry

ISRA International Journal of Islamic Finance, Vol. 4, Issue 2, 2012
Number of pages: 7 Posted: 07 Sep 2018
Umar Aimhanosi Oseni and Prof Faruq Ahmad
International Islamic University of Malaysia (IIUM) and Islamic Economics Institute
Downloads 34 (552,946)

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alternative dispute resolution, court, Islamic finance, Malaysia

4.

Corporate Social Responsibility in Bangladesh: The Role of Islami Bank Bangladesh Limited

Number of pages: 15 Posted: 22 Jun 2018
Shafiqur Rahman and Prof Faruq Ahmad
Independent and Islamic Economics Institute
Downloads 31 (569,287)
Citation 1

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CSR, Role of IBBL, Bangladesh

5.

An Exploratory Analysis of Islamic Finance Products for Housing Finance in the UK Market

International Journal of Excellence in Islamic Banking & Finance, 2014
Number of pages: 19 Posted: 25 Jun 2018
Khalid Hafeez and Prof Faruq Ahmad
University of Sharjah and Islamic Economics Institute
Downloads 14 (684,772)

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Islamic housing finance market, Sharī’ah compliant, cross-product analysis, UK

6.

Sharī‘Ah-Compliant Equities and Sharī‘Ah Screening: Need for Convergence of Ethical Screening of Stocks with Sharī‘Ah Screening

Forthcoming, International Journal of Emerging Markets
Number of pages: 34 Posted: 04 Sep 2021
Tauhidul Islam Tanin and Prof Faruq Ahmad
Monash University and Islamic Economics Institute
Downloads 11 (715,987)

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Ethical screening, Sharī‘ah screening, Sharī‘ah-compliant equities, Islamic stocks, Whitelisted companies

7.

Current Regulation and Supervision for Islamic Financial Market: Evidence from Australia

Number of pages: 47 Posted: 13 Oct 2018
Prof Faruq Ahmad
Islamic Economics Institute
Downloads 11 (708,228)

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Regulation, supervision, financial markets, Islamic finance, Australia

8.

Building Trust in Waqf Management: Implications of Good Governance and Transparent Reporting

Hasan, R., and Ahmad, A.U.F. (2020). Building trust in waqf management: implications of good governance and transparent reporting. Singapore Economic Review, World Scientific Publishing Company Pte Ltd., Singapore, DOI: https://doi.org/10.1142/S0217590820420059
Number of pages: 26 Posted: 04 Sep 2021
RASHEDUL HASAN, Prof Faruq Ahmad and Siti Alawiah Bt. Siraj
INTI International University, Islamic Economics Institute and International Islamic University of Malaysia (IIUM)
Downloads 8 (731,939)

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Waqf, Trust, Governance, Reporting, Accountability, Shari’ah

9.

Money Laundering from Maqāsid Al-Sharī‘Ah Perspective with Particular Reference to Preservation of Wealth (Hifz Al-Mal)

Number of pages: 10 Posted: 01 Sep 2021
Muhammad Nazmul Hoque, Jamaliah Said and Prof Faruq Ahmad
Universiti Teknologi MARA (UiTM), Universiti Teknologi MARA (UiTM) and Islamic Economics Institute
Downloads 8 (731,939)

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Maqaṣid al-Sharīʿah, Money Laundering, Hifz al-Māl, Sharīʿah Restrictions

10.

Is Interest Rate as a Monetary Policy Instrument Appropriate for OIC Countries?

Uddin, M.A., Ahmad, A.U.F., and El Morabit, F. (2021). "Is Interest rate as a monetary policy instrument appropriate for OIC countries?", in Toseef Azid, et al, (eds.), Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview. (Chapter 7: pp.113-126). Emerald
Posted: 07 Oct 2021
M. A. Uddin, Prof Faruq Ahmad and F. El Morabit
Independent, Islamic Economics Institute and Independent

Abstract:

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11.

External Sharī‘Ah Audit and Review Committee Vis-a-Vis Sharī‘Ah Compliance Quality and Accountability: A Case of Islamic Banks in Bangladesh

Alam, K., Ahmad, A.U.F., and Muneezah, A. (2020). External Sharī‘ah audit and review committee vis-a-vis Sharī‘ah compliance quality and accountability: a case of Islamic banks in Bangladesh, Journal of Public Affairs (JPA), (ESCI, SCOPUS Q3, ABDC B ranked). Early view, 1-10. John Wiley & Sons L
Posted: 07 Oct 2021
Prof Faruq Ahmad and A. Muneezah
Islamic Economics Institute and Independent

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12.

Conventional Futures: Derivatives in Islamic Law of Contract

Uddin, M.A. and Ahmad, A.U.F. (2020) Conventional futures: derivatives in Islamic law of contract, International Journal of Law and Management, 62(4), pp.315-337. Emerald Publishing Limited. DOI: https://doi.org/10.1108/IJLMA-10-2017-0242
Posted: 07 Sep 2021
Prof Faruq Ahmad
Islamic Economics Institute

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Futures contract, derivatives, Islamic Law of Contract, gharar, speculation, sale of debt

13.

Takyif Fiqhi on the Permissibility of Ijarah Mawsufah Fi Al-Dhimmah: A Critical Analysis

Ahmad, A.U.F., Munawer A.T.M. and Olorogun, L. A. (2020). Takyif fiqhi on the permissibility of ijarah mawsufah fi al-dhimmah: a critical analysis. International Journal of Islamic Thought, 17 (1), 1-14. Universiti Kebangsaan Malaysia. DOI: https://doi.org/10.24035/ijit.17-2020-165
Posted: 07 Sep 2021
Prof Faruq Ahmad, Monawer and Lukman Olorogun
Islamic Economics Institute, University of Malaya and Istanbul Gelisim University

Abstract:

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‘ijarah mawsufah fi al-dhimmah, leasing, forward sale, permissibility, fiqhi schools, classical fiqh, Hanafi school, contemporary scholars

14.

Risk Sharing in Retakāful: A Critical Analysis

Ahmad, Prof (Assoc) Abu Umar Faruq and Ayub, Muhammad, Risk Sharing in Retakāful: A Critical Analysis (November 15, 2019). Islamic finance and social welfare
Posted: 04 Sep 2021
Prof Faruq Ahmad
Islamic Economics Institute

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Retakāful, retakāful operators, takāful fund, risk-sharing, risk-transfer, qarḍ ḥasan, Retakāful commission

15.

Sukuk risks: a structured review of theoretical research

Hasan, R., Ahmad, A.U.F., and Parveen, T. (2018). Sukuk risks: a structured review of theoretical research. Journal of Islamic Accounting and Business Research. 10 (1). pp. 35-49. Emerald Publishing Limited. DOI: https://doi.org/10.1108/JIABR-06-2015-0026
Posted: 04 Sep 2021
RASHEDUL HASAN, Prof Faruq Ahmad and Tamiza Parveen
INTI International University, Islamic Economics Institute and International Islamic University of Malaysia (IIUM)

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Sukuk, Risk, Riba, Islamic capital market, Sharīʿah

16.

Employing Islamic Microfinance in Addressing Poverty Challenges in Brunei: A Mudarabah Approach

Ahmad, Prof (Assoc) Abu Umar Faruq, Employing Islamic microfinance in addressing poverty challenges in Brunei: a mudarabah approach (December 27, 2019). Available at SSRN: https://ssrn.com/abstract=3642514, Ahmad, Prof (Assoc) Abu Umar Faruq, Employing Islamic microfinance in addressing poverty challenges in Brunei: a mudarabah approach (December 27, 2019). Available at SSRN: https://ssrn.com/abstract=3642514
Posted: 03 Sep 2021
Ssemambo Hussein Kakembo and Prof Faruq Ahmad
University of Brunei Darussalam and Islamic Economics Institute

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Islamic Microfinance, Mudharaba, Poverty, Poverty Alleviation, Sadaqah, Zakah

17.

Regulation and Performance of Islamic Banking in Bangladesh

Thunderbird International Business Review, Vol. 49(2) 251–277 • March–April 2007
Posted: 07 Nov 2018 Last Revised: 06 Aug 2021
Prof Faruq Ahmad and M. Kabir Hassan
Islamic Economics Institute and University of New Orleans - College of Business Administration - Department of Economics and Finance

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Legal and Regulatory Issues, Islamic Banking, Bangladesh

18.

Evaluation of Takaful Operators’ Efforts in Realising Maqasid Al-Sharīah

Journal of Islamic Monetary Economics and Finance, Vol. 3, No. 2, 2018
Posted: 25 Jun 2018
Rashedul Hasan and Prof Faruq Ahmad
Nilai University - Department of Accounting and Finance and Islamic Economics Institute

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Takāful, Maqasid al-Sharīʿah, Maslaha, Tax, Zakah

19.

Evaluation of Takāful Operators’ Efforts in Realising Maqasid Al-SharīʿAh: Evidence from Malaysia

Posted: 25 Jun 2018
Rashedul Hasan and Prof Faruq Ahmad
Nilai University - Department of Accounting and Finance and Islamic Economics Institute

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Takāful, Maqasid al-Sharīʿah, Maslaha, Tax, Zakah