CURRICULUM VITAE

Name: Abdul Ghafar Ismail

Citizenship: Malaysian

Office
Address:
Professor of Islamic Financial Economics (Contract for service from February 2020 until
February 2022)
Universiti Sains Islam Malaysia
Bandar Baru Nilai, 71800, Nilai,
Negeri Sembilan Darul Khusus, Malaysia
Phone: +6013 6214133
Email: agibab62@gmail.com/abdulghafar_ismail@yahoo.com
Web of Sciences ResearcherID: E-7190-2016
Scopus: https://www.scopus.com/authid/detail.uri?authorId=36987804600
Google Scholar Citation: https://scholar.google.com/citations?user=2nXUlJ0AAAAJ&hl=en

EDUCATION:

PhD Economics University of Southampton 1994

M Ec. Economics Universiti Kebangsaan Malaysia 1987
B.Sc. (Hons) Chemistry Universiti Kebangsaan Malaysia 1985

WORK EXPERIENCE:

1. Chairman Shariah Committee Member, Citibank Berhad (June, 2021 until present)
2. Shariah Committee Member, Sunlife Takaful Malaysia Berhad (April 2021 until present)
3. Distinguished Associate Fellow, Institute of Shariah Governance and Islamic Finance,
Universiti Utara Malaysia (1 March 2021 until present)
4. Working Group Member: Zakah Institutions Governance. Accounting and Auditing for
Islamic Financial Institutions (AAOFI) (January 2021 until present)
5. Visiting Professor, Universitas Pendidikan Indonesia (November 2020 until present)
6. Senate Member, Universiti Sains Islam Malaysia, (July 2020 until present)
7. Shura Council, Universiti Sains Islam Malaysia (July 2020 until present)
8. Chairman, Task Force Committee for Scholarship Fund, Universiti Sains Islam Malaysia, (July
2020 until present)
9. Visiting Professor, Universitas Islam Indonesia (December 2020 until present)
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10. Rector, Johor Islamic Studies College (January 2019 until January 2020)
11. Board of Trustee Member, Yayasan Pembangunan Ekonomi Islam Malaysia (November
2018 until July 2020)
12. Board of Directors, YaPEIM Smart Venture Sdn Bhd (January 2019 until present)
13. Chairperson, The Organization of Islamic Economic Studies and Thoughts (Registration
Number - PPM-017-10-19072018), 45719, Desa Damai Putra, Teras Jernang, Bandar Baru
Bangi, 43650 Selangor Darul Ehsan, Malaysia (www.islamic-econs.org)
14. Consultant, Ministry of National Development Planning, Indonesia (September 2018 until
present)
15. Senate Member, Universiti Islam Sultan Sharif Ali (August, 2017 until June 2018)
16. Professor of Islamic financial economics, Faculty of Islamic Economics and Finance,
Universiti Islam Sultan Sharif Ali (March, 2017 until June 2018)
17. Head of Research Division, Islamic Research and Training Institute, Islamic Development
Bank (June, 2013 until February, 2017)
18. AmBank Group Resident Fellow, Perdana Leadership Foundation (June 2010 until present)
19. Deputy Chairman Shariah Committee Member, Citibank Berhad (2015 until present)
20. Research Fellow and Professor of Islamic Financial Economics, Islamic Economics Studies
and Thoughts Centre (November 2016 until present)
21. Professor of Islamic financial economics, School of Economics, Universiti Kebangsaan
Malaysia (January 2003 until July, 2016) – Scale VK6
22. Head, Centre for Research in Islamic Economics and Finance, Universiti Kebangsaan
Malaysia (January 2010 until June 2013)
23. Associate Professor, School of Economics, Universiti Kebangsaan Malaysia (January, 1996
until October, 2003
24. Lecturer, School of Economics, Universiti Kebangsaan Malaysia , June, 1987 until December,
1995
25. Bank Supervision Advisor of the International Monetary Fund for Djibouti (February 2015)
26. Adjunct Professor, Universiti Sains Islam Malaysia (December 2014 until November 2015)
27. Adjunct Professor, Kolej Universiti Islam Antarabangsa Selangor (September 2017 until
August 2018)
28. Fellow, Yayasan Pembangunan Ekonomi Islam Malaysia, (December 2014 until November
2016)
29. Research Fellow, International Shari’ah Research Academy for Islamic Finance, ISRA
(October 2009 until December 2010)
30. Research Fellow, International Research Centre of Islamic Economics and Finance (IRCIEF),
Kolej Universiti Islam Selangor, (September 2014 until present)
31. Principal Research Fellow, Institut Islam Hadhari (January 2008 until July 2016)
32. Chairman Shariah Committee Member, Citibank Berhad (2005 until 2015)
33. Chairman - Shariah Committee Member, Citibank (Labuan) Berhad (2010 until present)
34. Committee Member for the Establishment of Waqf Funds, Universiti Kebangsaan Malaysia
(2008 until 2010)
35. Trustee Committee for Waqf Funds, Universiti Kebangsaan Malaysia (2010-2013)
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MY PREVIOUS JOB

Rector, Johor Islamic Studies College (January 2019 until January 2020)

I. Purpose

The Rector’s principal purpose is to preside at meetings of the College’s management, the
College’s governing body, at which all major decisions affecting the College are taken and in the
absence of the Chairman meetings of the Board of Director. This very important role is at the
center of the governance arrangements of the College. Elected by board members, the Rector
requires to ensure that the interests of the whole college community are considered in the
Management’s decision making processes. The Rector also represents the College at ceremonial
and other high profile events.

II. Key responsibilities

• To preside at meetings of the College Management, the College’s governing-body. To

manage Management meetings, ensuring that: meetings operate in a business like-way;
adequate time is available for discussion of all agenda items (particularly for strategic
issues) and the key decisions and conclusions are drawn out from discussions.
• To promote a culture of openness and debate by facilitating the effective contribution of
Members in discussions, particularly student and staff Members.
• Works with the Registrar and management team to make sure that the College is well
connected and communicates with its stakeholders (staff, students, State Government,
State Religious Council, and the wider community), particularly with students and
Marsah’s Student Association.
• As a Member of Funding Committee (that comprises waqf, zakat and sadaqah), to be
responsible for the long-term sustainability of the institution and its strategic direction.
• As a Member of Management, to provide high-level strategic oversight and ensure that
adequate control and monitoring arrangements exits to support management in
exercising proper stewardship and working towards agreed strategic direction
• To act in accordance with accepted high standards of behaviour in public life, which
embrace selflessness, integrity, objectivity, accountability, openness, honesty and
leadership. All Members of Management are independent members, who act in the best
interests of the College, rather than representing the interests of particular groups.
• To represent the University at events and participate in official ceremonies.

MY PREVIOUS JOB

Head of research division, Islamic Research and Training Division, Islamic Development Bank

I. Strategic and Operational Planning

Key Activities:

• Prepare proper drafting and consolidation of annual plans and budget

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• Conceptualize and lead the preparation of the following proposals to update periodically
a research strategy for the Department and IRTI, defining priorities and key issues
(i) Guideline on Research Grant – including the application form for research grant,
surety bond and progress report
(ii) Guideline on in-House Research
(iii) Draft IRTI Cooperation Agreement with Research Assistant
(iv) Proposal on Editorial Policy of Islamic Economic Studies Journal
(v) Proposal on Textbook Program
(vi) Proposal on Fellowship Program
(vii) Revised Guideline on Visiting Scholar Scheme
(viii) Guidelines on Journal Reward System
(ix) Proposal To Establish IRTI-Maybank Islamic Endowment Fund For Publishing Books
in Islamic Economics and Finance
(x) Enhancement of IES Journal
(xi) Proposal for IRTI Partnership With Emerald and IIUM Press
(xii) Proposal for Research Agenda 2016-2018
• Leader, Community of Practice in Islamic Finance

II. Economic Research and Analysis

Key activities:

(a) Manage and mentor a team of research economists and supporting staffs in the research
division
(b) Lead and inspire the IRTI’s research agenda for Islamic economics and finance:
o Create a cluster for research agenda comprising the five niches: Financial Stability and
Risk Management (FSR); Islamic Financial Products Development (FPD); Islamic
Financial Institutions and financial sector development; Economics Development in
OIC (EDC); and Human Development in light of Maqasid al-Sharia (HDC);
o Research – in House Research
o Publication – published research papers in indexed journal and non-indexed journal;
books and proceedings, chapters in book; working papers, policy papers and reports
o Seminar attended – research papers presented in seminar
(c) Lead the technical preparation of major IRTI organizing events:
o Seminar organized
o Workshop
o Policy roundtable discussion
o In house seminar
(d) Monitoring the preparation of publications, such as Islamic Economic Studies (English – 2
Volumes), Islamic Economic Studies (Arabic – 2 Volumes), Islamic Economic Studies
(France – 2 Volumes), Occasional Papers (1), Working Paper Series (17), Annual Report,
Policy Paper Series (5), Islamic Finance Country Report (3) and Knowledge Review (2).
(e) Monitoring the preparation of other activities
o IDB Prize in Islamic economics and Islamic banking
o Visiting Scholars
o Research Grant Scheme
o Fellowship Scheme
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TEACHING EXPERIENCE:

He has teaching experience in several Islamic economics and finance courses such as Islamic
economic systems, Islamic financial system, money and banking, financial economics, advanced
macroeconomics, monetary economics; financial economics; Islamic economics system, Islamic
money and capital market; international finance; Islamic banking; money, zakat and the real
economy; risk management in Islamic banking; Islamic financial management; humanomics,
Islamic banking management; corporate finance; research methodology and data analysis; Islamic
economics and business; Islamic economics; legal drafting for Islamic banking contracts; risk
management and Islamic banks; Islamic microfinance institutions;

PROFESSIONAL AFFILIATION:

Research Panel: Science Funds, Ministry of Science, Technology and Innovation; Ministry of
Education (January 2010 until present), Fundamental Research Grant Scehem,
Ministry of Higher Education (March 2020 until present)
Academic Advisor:
(i) Kolej Pengajian Islam Johor
(ii) Faculty of Economics and Commerce, Universiti Malaysia Sabah
(iii) Faculty of Business and Management, Universiti Islam Sultan Sharif Ali, Brunei
(iv) Islamic Business School, Universiti Utara Malaysia
(v) Institute of Islamic Banking and Finance, International Islamic University of
Malaysia
(vi) Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia
(vii) Graduate Education Centre, Selangor International Islamic University College
Visiting Scholar:
(i) Universitas Pendidikan Indonesia
(ii) Universitas Islam Sultan Agong, Indonesia
(iii) Universiti Sultan Zainal Abidan, Malaysia
(iv) Universitas Islam Indonesia, Indonesia
(v) Universitas Sumatera Utara, Indonesia
(vi) Universitas Trisakti, Indonesia
(vii) Markfield Intitute of Higher Education, U.K.
(viii) Universiti Sains Islam Malaysia, Malaysia
(ix) Universitas Syiah Kuala, Indonesia
(x) Tashkent State Technical University, Uzbekistan
Association:
(i) Member, Society for the Advancement of Socio-Economics (June 2020 until
present)
(ii) Member, Association of Shariah Advisors in Islamic Finance, Malaysia (April 2012
until present)
(iii) Member, International Association of Islamic Economics, U.K., 2003 until present
(iv) Member, East Asian Economic Association, 2002 until present.
(v) Member, Asian Academic Accounting Association, 2001 until present.
(vi) Member, Malaysian Finance Association, June 1999 until present.
Consultant:
(i) Islamic Economics Masterplan of Indonesia. Client: Ministry of National Development
Planning, Indonesia (September 2018 until December 2018)
 6

(ii) Regulatory and Supervisory Framework for Islamic Banking in Djibouti. Client:
International Monetary Funds
(iii) Islamic Finance and Sustainable Development Goals. Client: United Nation
Development Program, Istanbul
(iv) Capacity Strengthening Program for Financial Supervision Department (FSD) of Da
Afghanistan Bank (DAB). Client: World Bank
(v) Manpower planning for the State of Sarawak. Client: State Government of Sarawak,
Malaysia. Funded by State Government of Sarawak.
(vi) Impact Study and Plan of Action for Amanah Ikhtiar Malaysia Expansion in Malaysia.
Client: Economic Planning Unit, Prime Miniter Department of Malaysia
(vii) Islamic microfinance: Providing Access to Finance for Microenterprises. Client: Islamic
Development Bank
(viii) National Cooperative Policy. Client: Department of Cooperative Development,
Malaysia
(i) Kajian Penerokaan Sumber Baru Baitulmal Ke Arah Kemantapan Pembangunan
Sosio-Ekonomi Ummah . Client: Jabatan Wakaf, Zakat dan Haji, Malaysia
(ii) Technical Consultant for MIFC on the Conduct of Monetary Policy in an Islamic
Financial System, Bank Negara Malaysia

Trainer:
(i)
(ii) School of Economics and Business, University of Sarajevo,Bosnia
(iii) Centre for Islamic Banking, Finance and Management, Brunei Darussalam
(iv) Arab Monetary Funds, Jordan
(v) Islamic Development Banks, Kingdom of Saudi Arabia
(vi) Department of Islamic Development, Malaysia
(vii) Institut Tadbiran Awam Negara, Malaysia

Member, Editorial Board:

▪ Chief Editor, Jurnal Ekonomi Malaysia. (2000-2006); (2008 until 2011);

▪ Editorial Team, National Accounting Research Journal, November 2002 until present;
▪ Editorial Advisory Committee, ISRA Journal of Islamic Finance, October 2009 until
present;
▪ Editorial Advisory Committee Global Economic and Finance Research Journal (September
2003 until present);
▪ Editorial Advisory Committee, Humanomics, March 2009 until December 2018;
▪ Co-editor, Iqtisad: International Journal of Islamic Economics; June 2008 until present;
▪ Editor-in-chief, Insurance and Takaful Journal (June 2010 until present);
▪ Editorial Advisory Board, Current Research in Malaysia (January 2012 until present);
▪ Co-editor, Journal of Philanthropy, November 2016 until present;
▪ Editorial Advisory Board, International Journal of Islamic and Middle Eastern Finance and
Management (July 2020 until present);
▪ Editor-in-chief, Jurnal Ekonomi dan Kewangan Islam (March 2020 until present);
▪ Managing Editor, International Journal of Zakat (July, 2020 until present);
▪ Editorial Advisory Board, Indonesian Treasury Review (July 2020 until present);
▪ Advisory Board Member, International Journal of Islamic Business (January 2018 until
present);
 7

▪ Chief Editor, Journal of Muamalat and Islamic Finance Research (January 2021 until
present)

Research Activities:

• Supervised 61 PhD (supervisor), 3 PhD (in progress); 23 PhD (Supervisory Committee) and
91 master projects (Completed)
• Published more than 150 papers in refereed journals.
• Published ten major textbook in economics and Islamic banking published by Springer,
Palgrave McMillan, Dewan Bahasa dan Pustaka and Cengage Learning Asia Pte. Ltd
• Edited twelve books – Ar-Rahn: Islamic Pawnbroking; Makroekonomi Malaysia: Perspektif
Dasar; Malaysian Industrialisation: Governance and Technical Change; Zakat: Pensyariatan,
Perekonomian dan Perundangan
• Reviewer for several international journals of repute, such Applied Economics, Review of
Financial Economics, Quantitative Finance, and Thunderbird International Journal, International
Journal of Islamic Middle Eastern Finance and Management, Jurnal Ekonomi Malaysia

PhD Examiner: Universiti Putra Malaysia, University of Malaya, Universiti Malaysia Sabah,
International Islamic University Malaysia, Universiti Sains Malaysia, Universiti Tun Abdul Razak,
Multimedia University, International Centre for Education in Islamic Finance, University of South
Australia, Universiti Malaysia Terengganu, Universiti Utara Malaysia, Universiti Malaya; Multimedia
University, Universitas Sumatera Utara, Universitas Syiah Kuala, Universitas Trisakti, Universiti
Sains Islam Malaysia, Universitas Islam Indonesia, Universiti Teknologi Malaysia

Last 5 years Publications: (2016-present)

Articles:

1. Dodik Siswantoro, Mohammad Soleh Nurzaman, Sri Nurhayati, Agus Munandar, Abdul
Ghafar Ismail (2021) Incentive Zakat Agency Mechanism, a Comparison between Indonesia
and Malaysia. International Journal of Islamic Business and Economics 5 (no. 1): 1-15.
https://doi.org/10.28918/ijibec.v5i1.3067
2. Ismail, A,G, (2021) A Model of Islamic Public Finance in Malaysia’s Constitution. Diponegoro
Law Review 6 (No. 1): 33-50. https://doi.org/10.14710/dilrev.6.1.2021.33-50
3. Wibowo, K.A., A.G. Ismail, A Tohirin, J Sriyana (2020) Factors Determining Intention to
Use Banking Technology in Indonesian Islamic Microfinance. The Journal of Asian Finance,
Economics, and Business 7(12): 1053-1064.
4. KH Kamil, KH, AG Ismail, S Shahimi, Z Isa (2020) Multi-choice Goal Programming Model
for Optimal Financial Resources. Jurnal Pengurusan 59
https://ejournal.ukm.my/pengurusan/article/view/43060
5. Bhuiyan, A.B., AG Ismail, MJ Ali, and M Solaiman (2020) Islamic Economics Methodology
Patterns Of Reasoning And The Structure Of Theories. International Journal of Shari'ah and
Corporate 3(2): 10-24. https://doi.org/10.46281/ijscgr.v3i2.849
6. Bhuiyan, A.B., AG Ismail, MZB Nor, MJ Ali, M Solaiman (2020) The Islamic Economics
Philosophy And Application Reality In The Existing Islamic Economic Activities In The
World. International Journal of Shari'ah and Corporate 3(2): 25-39.
https://doi.org/10.46281/ijscgr.v3i2.850
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7. Bayu Taufiq Possumah and Abdul Ghafar Ismail (2020) Reconstruction of Islamic Economic
Theory: From Revelation to Methodology. Turkish Journal of Islamic Economics 7 (Issue no
2): 50-69. DOI: http://dx.doi.org/10.26414/A07
8. Wan Hakimah Wan Ibrahim and Abdul Ghafar Ismail (2020) Do Regulation, Maqasid
Shariah And Institutional Parameter Improve Islamic Bank Efficiency? Journal of Islamic
Monetary Economics and Finance 6(1)
9. Abdul Ghafar Ismail, Wahyu Ario Pratomo (2019) Waqf Law and Islamic Religious
Revenue: New Sources of a State Revenue. In Khalifa Mohamed Ali, M. Kabir Hassan and
Abdelrahman Elzahi Saaid Ali (eds) Revitalization of Waqf for Socio-economic
Development Vol II. Switzerland: Springer Nature.
10. Shamsuddin, Z., Ismail, A.G., Zaidi, M.A.S., Daud, W.M.N.W., and Yusuff, W.S (2019) Does
the governance compliance effect cooperative performance? International Journal of
Innovation, Creativity and Change 5(2): 1701-1720
11. Nurul Syazwani Mohd Noor, Muhammad Hakimi Mohd Shafiai and Abdul Ghafar Ismail.
(2019). The Derivation of Shariah Risk in Islamic Finance: A Theoretical Approach. Journal
of Islamic Accounting and Business Research, Volume 10, Issue 05. (Q2)
12. Salman Ahmed Shaikh, Mohd Adib Ismail, Abdul Ghafar Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd Shafiai (2019) Overview of progress in Islamic commercial and
social finance in Pakistan. In Hussain Mohi-ud-Din Qadri, M. Ishaq Bhatti (eds) The Growth
of Islamic Finance and Banking: Innovation, Governance and Risk Mitigation. Oxford:
Routledge
13. Salman Ahmed Shaikh, Abdul Ghafar Ismail, Mohd Adib Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd Shafiai (2019) Governance–Development Nexus in the OIC
Countries. In Toseef Azid, Ali Abdullah Alnodel, and Muhamad Azeem Qureshi (eds)
Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice.
Bingley: Emerald Publishing
14. Salman Ahmed Shaikh, Abdul Ghafar Ismail, and Mohd Adib Ismail (2019) Shari’ah
Compliance Governance for Islamic Investments and Their Effects on Performance. In Toseef
Azid, Ali Abdullah Alnodel, and Muhamad Azeem Qureshi (eds) Research in Corporate and
Shari’ah Governance in the Muslim World: Theory and Practice. Bingley: Emerald Publishing
15. Salman Ahmed Shaikh, Mohd Adib Ismail, Abdul Ghafar Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd. Shafiai, (2019) Comparative analysis of Shari’ah-compliant
portfolios: evidence from Pakistan. Journal of Islamic Accounting and Business Research
10 (Issue: 3): 466-487, https://doi.org/10.1108/JIABR-10-2016-0121
16. Salman Ahmed Shaikh, Abdul Ghafar Ismail, Mohd Adib Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd. Shafiai (2019), Governance–Development Nexus in the OIC
Countries, in Toseef Azid, Ali Abdullah Alnodel, Muhamad Azeem Qureshi (ed.)
Research in Corporate and Shari’ah Governance in the Muslim World: Theory and
Practice, pp.355 - 370
17. Salman Ahmed Shaikh, Abdul Ghafar Ismail, Mohd Adib Ismail, (2019), Shari’ah
Compliance Governance for Islamic Investments and Their Effects on Performance, in
Toseef Azid, Ali Abdullah Alnodel, Muhamad Azeem Qureshi (ed.) Research in
Corporate and Shari’ah Governance in the Muslim World: Theory and Practice ,
pp.209-219
18. Abu Bakar Jaafar and Abdul Ghafar Ismail (2019) Ricardian Equivalence Theorem: What
Other Studies Say. Proceedings of the Regional Conference on Science, Technology and
Social Sciences. Singapore: Springer
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19. Nurul Syazwani Mohd Noor, Abdul Ghafar Ismail and Muhammad Hakimi Mohd. Shafiai
(2018) Modelling Shariah Risk in Islamic Finance: A Probability Approach. International
Journal of Business and Society 19 (No 3): 870-885 (Q3)
20. Salman Ahmed Sheikh, Mohd Adib Ismail, Abdul Ghafar Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd Shafiai. In Hussain Mohi-ud-Din Qadri and M. Ishaq Bhatti
(Eds). The Growth of Islamic Finance and Banking: Innovation, Governance and Risk
Mitigation. Oxford: Routledge
21. Nafisah Mohammed, Junaina Muhammad and Abdul Ghafar Ismail (2018) The Degree of
Competition in the Malaysian Dual Banking Industry. Jurnal Ekonomi Malaysia 52(3)
22. Salman Ahmed Sheikh, Mohd Adib Ismail, Abdul Ghafar Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd Shafiai, (2018) Intertemporal consumption behaviour in OIC
countries. International Journal of Islamic and Middle Eastern Finance and Management
11(Issue: 4): 529-552
23. Herlin Hamimi, Abdul Ghafar Ismail, Muhammad Hasbi Zaenal (2018) Strategic Role of
Zakat in Multidimensional Quality of Life in Sijunjung, Indonesia. The Journal of Muamalat
and Islamic Finance Research 55-72
24. Abdul Ghafar Ismail, Bayu Taufiq Possumah and Mohd. Akil Mohd Ali (2018) What you
sell is what you lend – Revealing complexity of riba in loan contract. European Journal of
Law and Economic 45 (Issue No 3): 591-609
25. Salman Ahmed Shaikh, Mohd Adib Ismail, Abdul Ghafar Ismail, Shahida Shahimi,
Muhammad Hakimi Mohd Shafiai (2018) Exploring Dynamics of Private Giving as Income
Support Institution for Endowment Deficient Consumers. Journal of Islamic Economics,
Banking and Finance 14 (no. 1): 146-167.
26. Faizulayev, A., E, Bektas and A.G., Ismail (2018) Profitability and persistency in the service
industry: the case of QISMUT+3. The Service Industries Journal : 1-25
27. Nurul Syazwani Mohd Noor, Abdul Ghafar Ismail and Muhammad Hakimi Mohd. Shafiai
(2018) Shariah Risk: Its Origin and Definition in Islamic Finance. Sage Open April-June
2018: 1–12. (Q2)
28. Daud, W.N.M, MA Rahim, F.A., Zainol and A.G., Ismail (2018) Leader's qualities and
organisational performance: a case of Malaysian Takaful operator. International Journal of
Business Performance 19(2): 189-208.
29. Seck, O., and A.G., Ismail (2018) What's in It for Me? Profiling Opportunity Seeking
Customers in Malaysian Islamic Banking Sector. Islamic Economic Studies 25 (No. 3): 45-
59
30. Suhal Kusairi, Nur Azura Sanusi and Abdul Ghafar Ismail (2017) Deposit Insurance and the
Banking Industry Stability in ASEAN: Evidence from a Dynamic Panel Investigation. Borsa
Istanbul Review 1-8
31. Zuryati Ahmad and Abdul Ghafar Ismail (2017) Full Reserve System and the Maqasid
Shariah. Journal of Emerging Economies and Islamic Research 5(2): 58-66
32. Abu Bakar Jaafar and Abdul Ghafar Ismail (2017) Tax Rate and Its Determinants: An Opinion
from Ibn Khaldun. International Journal of Academic Research in Business and Social
Sciences 7 (no. 4): 881-899.
33. Abdul Ghafar Ismail and Fadhilah Mat Nor (2017) Institutional Economics Relevant To
Islamic Finance. Media Syari'ah 13 (no. 1):1-20
34. Abdul Ghafar Ismail and Salman Ahmed Shaikh (2017) Need for Effective Mobilization,
Institutionalization and Utilization of Philanthropy and Humanitarian Aid in OIC Countries.
Journal of Philanthropy 1 (no. 1): 21-40
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35. Abul Bashar Bhuiyan,Chamhuri Siwar, Abdul Ghafar Ismail and Normah Omar (2017) The
Islamic Microfinancing Contributions on Sustainable Livelihood of the Borrowers in
Bangladesh. International Journal of Business and Society 18: 79-96
36. Salman Ahmed Shaikh, Abdul Ghafar Ismail and Muhammad Hakimi Mohd. Shafiai (2017)
Application of waqf for social and development finance. ISRA International Journal of
Islamic Finance 9 (Issue 1), 5-14.
37. Mohd Adib Ismail, Muhammad Hakimi Mohd. Shafiai, Salman Ahmed Shaikh, Mohd Adib
Ismail, Muhammad Hakimi Mohd. Shafiai, Abdul Ghafar Ismail, and Shahida Shahimi (2017)
Cross Section of Stock Returns on Shari’ah Compliant Stocks: Evidence From Pakistan.
International Journal of Islamic and Middle Eastern Finance and Management (forthcoming)
38. Salman Ahmed Shaikh and Abdul Ghafar Ismail (2017) Towards an integrative framework
for understanding Muslim consumption behaviour. Humanomics 33 (no. 2): 133-149
39. Rose Abdullah and Abdul Ghafar Ismail (2017) Taking Stock on the Waqf-Based Islamic
Microfinance Model. International Journal of Social Economics 44 (Issue no 8): 1018-1031
40. Nafisah Mohammed, Abdul Ghafar Ismail, and Junaina Muhammad (2016) Concentration
and Competition in Dual Banking Industry: A Structural Approach. Jurnal Ekonomi Malaysia
50(2), 49-70. http://www.ukm.my/fep/jem/content/2016-2.html
41. Salman Ahmed Shaikh, Mohd Adib Ismail, Muhammad Hakimi Mohd. Shafiai, Abdul Ghafar
Ismail, and Shahida Shahimi (2017) The Role of Islamic banking in financial inclusion:
prospects and challenges. In Nafis Alam, Syed Aun R. Rizvi (eds) Islamic Banking: Growth,
Stability and Inclusion. Switzerland: Springer International Publishing.
http://rd.springer.com/chapter/10.1007%2F978-3-319-45910-3_3
42. Abdul Ghafar Ismail (2016) Between Free Market and State Capitalism: How Islamic
Economics System Shape the Future Global Economy? In Doreen Peters (ed) Islam: Global
Issues, Challenges and Perspectives of the 21st Century. New York: Nova Science
Publishers.
https://www.novapublishers.com/catalog/product_info.php?products_id=59121&osCsid=
24b58bf78187706fbf8f8061f306fa96
43. Raudha Md Ramli, Abdul Ghafar Ismail and Muhammad Tasrif (2016) Maslahah-Based
Development Index (M-Dex) Among the Islamic Countries. In Abdul Ghafar Ismail, Salman
Syed Ali and Latifa Bibi Musafar Hameed (eds.) Policy Discussion on Maqasid Shariah for
Social Economic Development. Bangi. Penerbit KUIS.
44. Noraina Mazuin Sapuan, Nur Azura Sanusi, Abdul Ghafar Ismail, Antoni Wibowo (2016)
Social learning and principal-agent problems in profit sharing contract. Humanomics 32(4):
498-515
45. Abdul Ghafar Ismail and Mohd Ali Mohd Noor (2016) Halal Finance and Halal Foods: Are
They Falling Apart? Œconomica 12 (No 3): http://journals.univ-
danubius.ro/index.php/oeconomica/article/view/3450/3308
46. Salman Ahmed Shaikh, Muhammad Hakimi Mohd. Shafiai, Abdul Ghafar Ismail, Mohd Adib
Ismail (2016) Exploring Efficiency, Co-integration, Causality and Volatility Clustering in
Unrestricted and Islamic Portfolios. In Nafis, A. and S.A.R., Rizvi (eds.) Islamic Capital
Markets: Volatility, Performance and Stability. London: Palgrave Macmillan. Pp: 101-122.
ISBN 978-3-319-33990-0, DOI 10.1007/978-3-319-33991-7
https://www.palgrave.com/de/book/9783319339900
47. Raudha Md. Ramli Shahida Shahimi Abdul Ghafar Ismail (2016) Hedging Against Capital
Depreciation: A Case Study of BIMB Malaysia Berhad. International Research Journal of
Applied Finance (Case Study Series) VII (Issue no 7): 1-18. https://www.irjaf.com/case-
studies-2016.html
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48. Zelhuda Shamsuddin and Abdul Ghafar Ismail (2016) The Partnership Theory in Explaining
Cooperatives Organizational Structure. International Business Management 10 (Issue 15):
3313-3318 DOI: 10.3923/ibm.2016.3313.3318.
http://www.medwelljournals.com/abstract/?doi=ibm.2016.3313.3318
49. Abdul Ghafar Ismail, Nik Abdul Rahim Nik Abdul Ghani and Mat Nor Mat Zain (2016)
Tawarruq Time Deposit with Wakalah Principle: An option That Triggers New Issues.
International Journal of Islamic and Middle Eastern Finance and Management 9 (no. 3):
388-396. http://www.emeraldinsight.com/doi/pdfplus/10.1108/IMEFM-05-2014-0048

Books:

1. Abdul Ghafar Ismail, Rose Abdullah and Muhammad Hasbi Zaenal (2021) Islamic
Philanthropy. New York: Palgrave McMillan (forthcoming)
2. Abdul Ghafar Ismail (2021) The Future of Islamic Banking in the Global Market .
Putrajaya: Perdana Leadership Foundation. (forthcoming)
3. Abdul Ghafar Ismail (2021) The Economics of Zakat and Waqf. Kuala Lumpur: Dewan
Bahasa dan Pustaka (forthcoming)
4. Abdul Ghafar Ismail and Muhamed Zulkhibri (2021) Economic Capital and Risk
Management in Islamic Banking. Cheltenham: Edward Elgar Publishing. (forthcoming)
5. Abdul Ghafar Ismail, Muhammad Hakimi Mohd. Shafiai and Salman Ahmed Shaikh
(2019) Taxation and Zakat on Islamic Finance Instruments . Bangi: Penerbit Universiti
Kebangsaan Malaysia.
6. Abdul Ghafar Ismail; Abd Elrahman Elzahi Saaid Ali; Hafas Furqani; Nazaruddin A. Wahid
(2019) Public Policy in Islamic Framework: Principles and Guidelines in Policy
Formulation. Jeddah: Islamic Research and Training Institute
7. Abdelrahman Elzahi Saaid Ali, Abdul Ghafar Ismail, Roslyn Mohd Yusuf, and Nor Hayati
Ahmad (2018) Intra Trade in OIC. Jeddah: , Islamic Research and Training Institute
8. Abdul Ghafar Ismail (2018) Money, Islamic Banking and Real Economy (2nd. Ed.) Singapore:
Cengage Learning Asia Pte. Ltd.
9. Abdul Ghafar Ismail and Abdelrahman Elzahi Saaid Ali (2018) Financial Inclusiveness of
the Poor: Beyond Microfinance. Gombak: IIUM Press
10. Abdul Ghafar Ismail, Khalifa Muhamed Ali and Raditya Sukmana (2018) Waqf and Socio
Economic Development. Gombak: IIUM Press
11. Abdul Ghafar Ismail and Abdelrahman Elzahi Saaid Ali (2018) Regulation and Supervision
of Islamic Microfinance. Gombak: IIUM Press
12. Abdul Ghafar Ismail, Salman Syed Ali and Achmad Tohirin (2018) Maqasid Al Shariah Based
Index of Socio Economic Development. Gombak: IIUM Press
13. Muhamed Zulkhibri and Abdul Ghafar Ismail (2017) Financial Inclusion and Poverty
Alleviation: Perspective from Islamic Institutions and Instruments. New York: Palgrave
McMillan
14. Selamah Maamor Widiyanto Mislan Cokrohadisumarto and Abdul Ghafar Ismail (2017)
Islamic Microfinance Institutions: Efficiency and Sustainability. Bangi: Penerbit UKM.
15. Aishah Abdul-Rahman, Shahida Shahimi and Abdul Ghafar Ismail (2017) Case Studies in
Islamic Banking and Finance. Bangi: UKM Press
16. Abdul Ghafar Ismail and Hailani Muji Tahir (2016) Zakat: Pensyariatan, Perekonomian &
Perundangan. (2nd Edition). Bangi: UKM Press. ISBN 9789679427950.
http://www.ukm.my/penerbit/New2016/zakat.html
17. Abdul Ghafar Ismail, Rose Abdullah and Khalifa Muhamed Ali (2017) Islamic Financial
Literacy. Gadong: UNISSA Press
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18. Abdul Ghafar Ismail, Salman Syed Ali and Latifa Bibi Musafar Hameed (2017) Policy
Discussion on Maqasid Shariah for Social Economic Development. Bangi. Penerbit KUIS
19. Muhamed Zulkhibri, Abdul Ghafar Ismail, and Sutan Emir Hidayat (2016) Macroprudential
Regulation and Policy for the Islamic Financial Industry: Theory and Applications.
Switzerland: Springer International Publishing. ISBN 978-3-319-30443-4
20. Widiyanto Mislan Cokrohadisumarto, Abdul Ghafar Ismail and Kartiko A. Wibowo (2016)
BMT: Praktik dan Kasus. Jakarta: Rajawali Pers. ISBN 978-979-769-975-8.

Last 5 years Research: (2016-present)

1. Information Economics and the Web of State Islamic Religious Council (SIRC) in Malaysia
(2020-2021). Funded by Universiti Kebangsaan Malaysia
2. Civilisational Mission of Halal Economy and Islamic Social Finance (2020-2023). Funded
by Kyoto University, Japan.
3. Law and Islamic Religious Revenues (2018) Funded by Universiti Islam Sultan Sharif Ali
4. Crowding Out and Crowdfunding (2017). Funded by Universiti Islam Sultan Sharif Ali
5. Improving Rural Livelihoods: A Study of Shariah Cooperatives in Thailand (2016). Funded
by Islamic Research and Training Institute, Islamic Development Bank.
6. Stress Testing of the Stability of the Islamic Banking System (2016). Funded by Islamic
Research and Training Institute, Islamic Development Bank.
7. Human Behavior towards Al Mal (2015). Funded by Islamic Research and Training
Institute, Islamic Development Bank.
8. Free Economy: How Islamic Economics System Shape the Future Global Economy (2015).
Funded by Islamic Research and Training Institute, Islamic Development Bank.
9. Al Tawhid in Relation to the Economic Order of Microfinance Institutions (2015). Funded
by Islamic Research and Training Institute, Islamic Development Bank.

Consultancy Services

1. Masterplan of Islamic Economics for Indonesia. Client: Ministry of National Development

Planning (September 2018 until present)
2. Supervisory Framework for Islamic Bank in Djibouti. Client: International Monetary Funds
(February 2015)
3. Study on IDB Experience in Islamic Microfinance. Client: Islamic Development Bank
(September 2014-August 2015)
4. Commodity Murabahah Tier 2 Sukuk, March 2012. Client: Citibank Malayisa
5. The Exploration of Baitulmal's New Resources to the Sustainability of Socio-Economic
Development of the Ummah. Client: Jabatan Wakaf, Zakat dan Haji, Prime Minister
Department, Malaysia (March 2011-August 2011)
6. Negotiable Investment Deposit-i, November 2011. Client: Citibank Malayisa
7. Impact Study and Plan of Action for Amanah Ikhtiar Malaysia (AIM) Expansion in Malaysia.
Client: Economic Planning Unit, Prime Minister Department. January 2009 until December
2010)
8. Sukuk Ijarah Origination for KLIA2. Malaysia Airport Holding Berhad, August 2010. Client:
Citibank Malayisa
9. Fund Services, February 2009. Client: Citibank Malayisa
10. Custodial Services, November 2008. Client: Citibank Malayisa
11. Wakalah Saving Account, May 2007. Client: Citibank Malayisa
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12. Commodity Murabahah Product Origination. Citibank Malaysia Berhad, October 2006.
Client: Citibank Malayisa
13. Musaharakah Mutanaqisah Home Financing. Citibank Malaysia Berhad, March 2006. Client:
Citibank Malayisa
14. Market linked Investment, November 2006. Client: Citibank Malayisa
15. Islamic Cross Currency Swap, September 2006. Client: Citibank Malayisa
16. Islamic Profit Rate Swap, February 2006. Client: Citibank Malayisa
17. Islamic Tawaruq-Murabahah Foreign Currency Delivery, October 2005. Client: Citibank
Malayisa
18. Islamic Salam-Murabahah Foreign Currency Delivery, October 2005. Client: Citibank
Malayisa
19. Murabahah Deposit, September 2005. Client: Citibank Malayisa
20. The contribution of Johore Corporation to The Johor’s Economy (October 2003 – December
2004). Client: Johore Corporation
21. Agricultural-Based Cooperative Restructuring Study. Client: Lembaga Pertubuhan
Peladang, Malaysia, August, 1997-December, 1998.
22. Co-operative In Malaysia: Towards the Development of a Cooperative Movement. Client:
Jabatan Pembangunan Koperasi, Malaysia. August, 1997-December, 1998.
23. The External Indicators Affecting The Malaysian Insurance Industry. Client: The Malaysian
Insurance Institute, July, 1996-December, 1996.
24. The Conceptual Development Study Leading to Labuan Master Plan (Labuan as an
International Offshore Financial Centre). Client: Labuan Development Authority, July, 1995-
December, 1995.
25. The East Johore Structural Plan (Employment, Income, Commercial and Industrial Sectors.
Client: Johore State Government, June, 1990-July, 1991.

Training Conducted

1. Zakat Practices in Malaysia. Delivered at Islamic Economics Winter Course 2020. Badan Zakat
Nasional (Baznas), Indonesia, 14-23 September 2020
2. A Book Proposal: Get Feedback From Publisher. Training delivered at Textbook Writing
Workshop, 9-10th December 2020, Malaysia
3. Fiqh Muamalat. Training delivered for Marsah and Johore Islamic Religious Council, 16
March 2019, Malaysia
4. Shariah research in Islamic finance. Training delivered at Centre for Islamic Banking, Finance
and Management, 9-10 June 2018, Brunei Darussalam
5. Potential of Zakat in Poverty Alleviation. Training delivered at Zakat Management, 5-7 April
2017. Jakarta, Indonesia.
6. Public-Private Partnership Financing: How does it work? Training delivered at Islamic
Finance Intellectual Discourse, 18-20th October 2016, Melaka, Malaysia
7. Risk Management in Islamic Financial Institutions. Training delivered at Risk management
and Shari'ah Governance Course, Amman, 26-31 July 2015
8. Regulatory Framework for Islamic Banks. Training delivered at Awareness Program in
Islamic Finance, 9th June 2015, Maputo, Mozambique
9. Tax Incentive for Green Sukuk: the case of Sime Darby Plantation. Training delivered at
Deloitte and IRTI Executive Workshop on Unlocking the Potential of Agri-Business: the case
for Agri-Sukuk, 20-21 January 2015, Khartoum, Sudan
10. Risk management in Islamic Bank. Training delivered at University of Sarajevo, 22-23
 14

November 2014
11. Governance Risk and Compliance – Strengthening Sharia Governance Framework. Training
delivered at Deloitte and IRTI executive workshop on Strengthening Risk Governance in
Islamic Finance, June 18, 2014, Manama, Kingdom of Bahrain
12. Risk Management Tools A Case Study of Sukuk KLIA-2. Training delivered at the Deloitte
Dubai 27th March 2014, Dubai, United Arab Emirates
13. Skills to publish. Training delivered at Islamic Development Bank, 13 January 2014
14. Basics Islamic Banking. Training delivered at Basics Islamic Banking Course, Islamic
Development Bank, 15 January 2014
15. Sukuk Issuance: lessons from IDB. Training delivered at Roundtable on Sukuks, IDB 27
January 2014
16. Training on Writing Article in High Impact Journal, Universitas Sriwijaya, 22 May 2013
17. An Overview of GP8 (Guideline on Financial Reporting for a Licensed Islamic Bank). Training
delivered at Sharing Session on How To Read Islamic Bank’s Financial Statement, 2 April
2013

10 June 2021