INTRODUCING

Dr. Afzol Husain

Country of Origin
Malaysia

Qualification
PhD in Business from Swinburne University of Technology

Email

Phone Number
+603 7651 4225

A Brief Introduction

Dr. Afzol Husain is a Research Fellow at INCEIF University. He holds a PhD in Business from Swinburne University of Technology, where he investigated cryptocurrency as safe haven during crises. His specialisation includes quantitative finance, sustainable finance, digital finance, cryptocurrency investment, and portfolio risk management. With an extensive publication track record in top-tier Scopus Q1, ABDC A/A*, and ABS 3 journals, his research primarily focuses on clean energy risk, green finance, and market connectedness. In addition to his research contributions across various funded projects funded, he teaches courses including Financial Analysis and Valuation (MBA) and International Finance (MSc & PhD).

Publications

Journal Articles

  1. Afzol Husain, Chien Chiang Lee, & Kwang-Jing Yii. Dynamic spillover and portfolio strategies relating to energy cryptocurrencies, clean energy stocks, and clean energy metals. Financial Innovation. Accepted, forthcoming. [SCOPUS: Q1, ABS: 2].
  2. Rubaiyat Ahsan Bhuiyan, Afzol Husain, & Mohammad Abdullah. Chasing scarcity: How climate risk reshapes precious metals markets. Mineral Economics. [SCOPUS: Q1]. [https://doi.org/10.1007/s13563-026-00679-y](https://doi.org/10.1007/s13563-026-00679-y)
  3. Afzol Husain, Kwang-Jing Yii, Chorng Yuan Fung, & Richard Busulwa. (2025). Portfolio Risk of Cryptocurrency Inclusion: A Comparison Between Conventional And Islamic Cryptocurrencies. Eurasian Economic Review. [SCOPUS: Q1]. [https://doi.org/10.1007/s40822-025-00320-3](https://doi.org/10.1007/s40822-025-00320-3)
  4. Sitara Karim, Afzol Husain, Weng Marc Lim, Ling-Foon Chan, & Shehnaz Tehseen. (2024). AI, FinTech and clean minerals: A wavelet analysis and quantile value-at-risk investigation. Resources Policy. [SCOPUS: Q1, ABDC: B, ABS: 2]. [https://doi.org/10.1016/j.resourpol.2024.105320](https://doi.org/10.1016/j.resourpol.2024.105320)
  5. Afzol Husain, Sitara Karim, & Ahmet Sensoy. (2024). Financial fusion: Bridging Islamic and Green investments in the European stock market. International Review of Financial Analysis. [SCOPUS: Q1, ABDC: A, ABS: 3]. [https://doi.org/10.1016/j.irfa.2024.103341](https://doi.org/10.1016/j.irfa.2024.103341)
  6. Muhammad Abubakr Naeem, Afzol Husain, Ahmed Bossman, & Sitara Karim. (2024). Assessing the linkage of energy cryptocurrency with clean and dirty energy markets. Energy Economics. [SCOPUS: Q1, ABDC: A*, ABS: 3]. [https://doi.org/10.1016/j.eneco.2023.107279](https://doi.org/10.1016/j.eneco.2023.107279)
  7. Afzol Husain, Kwang-Jing Yii, & Chien-Chiang Lee. (2023). Are green cryptocurrencies really green? New evidence from wavelet analysis. Journal of Cleaner Production. [SCOPUS: Q1, ABDC: A, ABS: 2]. [https://doi.org/10.1016/j.jclepro.2023.137985](https://doi.org/10.1016/j.jclepro.2023.137985)
  8. Rubaiyat Ahsan Bhuiyan, Afzol Husain, & Changyong Zhang. (2023). Diversification evidence of bitcoin and gold from wavelet analysis. Financial Innovation. [SCOPUS: Q1]. [https://doi.org/10.1186/s40854-023-00495-1](https://doi.org/10.1186/s40854-023-00495-1)
  9. Rubaiyat Ahsan Bhuiyan, Afzol Husain, & Changyong Zhang. (2021). A Wavelet Approach for Causal Relationship between Bitcoin and Conventional Asset Classes. Resources Policy. [SCOPUS: Q1, ABDC: A, ABS: 2]. [https://doi.org/10.1016/j.resourpol.2020.101971](https://doi.org/10.1016/j.resourpol.2020.101971)

Achievement

  • Innovation Award: Awarded the Gold Medal at the InTEX Innovation Expo 2023 for research on hydrogen energy finance.

  • Academic Honors: Recipient of the Swinburne University Sarawak fully funded postgraduate research scholarship.

Teaching Courses