INTRODUCING

Assoc. Prof. Dr. Mohamed Eskandar Shah Mohd Rasid

Country of Origin
Malaysia

Qualification
PhD in Finance from Nottingham University Business School (UK)

Phone Number
+603 7651 4203

A Brief Introduction

Associate Professor Dr. Mohamed Eskandar Shah Mohd Rasid has over 23 years of experience in academia, consultancy and senior leadership. He is currently the Chief Executive Officer of ISRA Associates, INCEIF University. He actively leads strategic Islamic finance consultancy projects locally and internationally, delivering impactful and Shariah-compliant solutions to advance the global Islamic finance ecosystem.

He began his academic career at IIUM and later joined INCEIF, where he served as Associate Dean and subsequently Dean of the School of Graduate Studies. Then, he joined Hamad Bin Khalifa University (Qatar Foundation) as Associate Professor and Associate Dean Academic.

Dr. Eskandar has served as a Financial Sector Specialist Consultant for the World Bank, Advisor to the Brunei Institute of Leadership and Islamic Finance (BILIF), and consultant to various government agencies and financial institutions, including local and international government ministries, CIMB Islamic, Responsible Finance Institute (RFI) and ZICO Shariah Advisory. He is currently appointed as a Member of the Commission at the Malaysia Competition Commission (MyCC). 

He holds a Bachelor’s in Business Administration (Hons) from International Islamic University Malaysia (IIUM), a Master’s in International Economics and Finance from the University of Queensland, and a PhD in Finance from Nottingham University Business School (UK). 

Publications

Selected Refereed Articles

  1. “The Rise and Fall of Islamic Finance Education” with Saad Azmat —
    WS Annual Review and Islamic Finance, Vol. 3, 2025.
  2. “Non-tariff Measures in Services Sector: a PPML Analysis” with
    Bushra Faizi and Nasim Shirazi —
    Applied Economics, 28(1), 2024.
  3. “Exploring asymmetries in cryptocurrency’s intraday return and implied
    volatility” with Mahmudul Karim, Abu Haniffa Noman and Larisa Yarovaya —
    International Review of Financial Analysis, 96, 2024.
  4. “Religiosity Compliance Impact and Theological Risk: Evidence from
    Bursa Malaysia” with Murat Yas, Ahmet Aysan and Saad Azmat —
    Turkish Journal of Islamic Economics, 11(2), 2024,
    pp. 38–58 (21 pages).
  5. “Bank lending in times of trade uncertainty: Evidence from China and
    European Union countries” with Hazizi Noordin —
    Bulletin of Monetary Economics and Banking, 27(2), 2024,
    pp. 299–326.
  6. “Financial Development and Economic Diversification in Qatar:
    Does Islamic Finance Matters” with Fekri AlShawtari —
    Journal of Islamic Accounting and Business Research,
    15(6), 2024, pp. 959–987.
  7. “Impact of Non-Intermediation Activities of Banks on Economic Growth
    and Volatility: An Evidence from OIC” with Mohsin Ali and
    Mansor Ibrahim —
    The Singapore Economic Review, 61(7), 2022, pp. 333–348.
  8. “The Substitution Hypothesis of Agency Conflicts: Evidence on
    Shariah Compliant Equities” with Zaheer Anwar, Wajahat Azmi and
    Shamsher Mohamad —
    Global Finance Journal, 41, 2019, pp. 90–103.
  9. “Nonfinancial traits and financial smartness: International evidence
    from Shariah-compliant and Socially responsible funds” with
    Wajahat Azmi and Shamsher Mohamad —
    Journal of International Financial Markets, Institutions &
    Money    , 56, 2018, pp. 201–217.
  10. “Dispelling the Myth of a Value Premium: Contrary Evidence of
    Malaysian Crony Capitalism” with Shahid Ebrahim, Robert Hudson and
    Abdullah Iqbal —
    International Journal of Banking, Accounting and Finance,
    7(1), 2016, pp. 1–33.
  11. “Rationalizing the Value Premium in Emerging Markets” with
    M. Shahid Ebrahim, Sourafel Girma and Jonathan Williams —
    Journal of International Financial Markets, Institutions &
    Money    , 29, 2014, pp. 51–70.
  12. “Dynamic Capital Structure under Political Patronage: The Case of
    Malaysia” with M. Shahid Ebrahim, Sourafel Girma and
    Jonathan Williams —
    International Review of Financial Analysis,
    31, 2014, pp. 117–128.
  13. “Foreign Exchange Rate Exposure and Impact of Policy Switch:
    The Case of Malaysian Firms” with Obiyathulla Ismath,
    Sharifah Raihan and Azhar Mohamad —
    Applied Economics, 45(20), 2013, pp. 2974–2984.

Chapters in Books (Selected)

  1. “Rethinking National Housing Model in Malaysia: Design and Delivery
    of Affordable Housing” with Faris Khamdi —
    Strategic Rebuilding & Sustainable Housing in the Muslim
    World    , Rowman & Littlefield and Lexington Books.
  2. “Islamic Corporate Finance, Capital Structure” with Ajim Uddin and
    Ashraful Ferdous —
    Chapter 3, Islamic Corporate Finance,
    Routledge Taylor & Francis Group, 2019.
  3. “Islamic Equity Market” —
    Islamic Finance; The New Normal,
    RAM Rating Services Berhad in collaboration with INCEIF, 2017.
  4. “Testing the Financial Distress Prediction Model for Sukuk-Issuing
    Companies in Malaysia” with Roslina Mohamad Shafi,
    Sharifah Raihan Syed Mohamad Zain and Ahamed Kameel Mydin Meera —
    Sukuk (Islamic Bonds) Handbook of Empirical Research on Islam
    and Economic Life    , Chapter 29 (Part 5), Edward Elgar, 2017.

Teaching Courses