INTRODUCING

ASSOC. PROF. DR FARES DJAFRI

Country of Origin
Algeria

Qualification
Ph.D. in Islamic Finance, University of Malaya, 2017., M.Sc. in Finance, International Islamic University Malaysia (IIUM), 2012., B.A. in Finance, University of Batna, Algeria, 2008.

Email
[email protected]

Phone Number
+603 7651 4229

A Brief Introduction

Dr. Fares Djafri is an Associate Professor and Head of the MSc in Applied Muamalat Program at INCEIF University, as well as a Senior Research Fellow at ISRA Institute, the research arm of INCEIF University. He is a Shariah Registered Financial Planner (SRFP, MFPC Malaysia), an AAOIFI Certified Shariah Adviser and Auditor (CSAA), and a Certified Trainer under HRD Corp, Ministry of Human Resources, Malaysia. His areas of research interest include Islamic banking and finance, Islamic insurance (takaful), Shariah governance, sustainable finance, and Islamic social finance. He also specializes in the Islamic Capital Market, focusing primarily on commodity trading and sukuk structures. He is the co-author of the book “Bursa Suq Al-Sila: Its Development and Role in Facilitating Commodity Trading” (UM Press).

Dr Fares plays a pivotal role in key projects, including the development of new PhD and MSc Program in Applied Muamalat, the development of a new takaful model applying the concept of Musharakah Ta’awuniyyah (Cooperative Partnership) for Hong Leong MISG Takaful, the assessment of UNHCR’s zakat collection and distribution mechanism in the Asia Pacific region, as well as the development of the Tayyib concept for Islamic financial institutions in Malaysia. He also engages in various consultancy projects through ISRA Associate. These include providing technical assistance in developing Algeria’s legal and regulatory framework for sukuk, as well as supporting the Ministry of Finance in preparing and launching the country’s first sovereign sukuk issuance.

Dr Fares is the Managing Editor of ISRA International Journal of Islamic Finance (Arabic journal) and a member of Editorial Boards of several journals. He has published many chapters in books and several articles in peer-reviewed and high impact journals. He has also presented several papers at prominent national and international conferences.

Publications

Books

Bursa Suq Al-Sila: Its Development and Role in Facilitating Commodity Trading Transactions (2020). University of Malaya Press (UM Press).

Journal Articles

Djafri, F., Hashim, Md., & Hayat, Z. (2026). Profit Distribution Mechanisms for Investment Accounts in Malaysian Islamic Banks: An Analytical Study in Light of Shariah and Accounting Standards. Journal of King Abdulaziz University: Islamic Economics, 39(3). https://doi.org/10.64064/1658-4244.1084
Djafri, F., et al. (2025). Achieving Wealth Preservation via Islamic Crowdfunding: An Analysis from Maqasidic View. Millah: Journal of Religious Studies, 24(2). https://doi.org/10.20885/millah.vol24.iss2.ar12
Djafri, F., et al. (2025). Waqf as a Sustainable Solution: Addressing Climate Change Impacts on Real Estate Through Perpetual Endowment and Community Benefit. Journal of International Conference Proceedings (JICP), 7(3), 695-709. https://doi.org/10.32535/jicp.v7i3.3724
Said, M., & Djafri, F. (2024). Waqf and Microfinance Integration for Enabling Sustainable Financial Inclusion: Analysis of Sharīʿah Compliance. International Journal of Islamic Finance and Sustainable Development, 16(3). https://doi.org/10.55188/ijifsd.v16i3.901
Djafri, F., et al. (2024). أثر جائحة كورونا على الالتزامات العقْدية في المصارف الإسلامية: تقويم نقدي للاجتهادات الفقهية. Bait Al-Mashura Journal, 22(2), 121. https://www.mashurajournal.com/articles/154
Djafri, F., et al. (2024). الإطار القانوني والتنظيمي للاستدامة من منظور مقاصدي: عرض تقويمي للمقاربة الماليزية. ISRA Arabic Journal, 15(2), 2–24. https://journal.inceif.edu.my/index.php/ijif-arabic/article/view/945
Djafri, F., Laldin, M. A., & Mikail, S. A. (2023). تجديد النظر في قضايا مستجدة في التطبيقات المعاصرة للإجارة المنتهية بالتمليك. Jeddah, Saudi Arabia: International Islamic Fiqh Academy.
Djafri, F., & Said, B. (2022). Adoption of the COSO methodology for internal Sharīʿah audit. ISRA International Journal of Islamic Finance, 14(2), 221-235. https://doi.org/10.1108/IJIF-04-2020-0071
Djafri, F., & Laldin, M. A. (2022). The Malaysian Experience in Islamic Insurance (Takaful). At-Tajdid: A Refereed Arabic Biannual, 52(26), 35-70. https://journals.iium.edu.my/at-tajdid/index.php/tajdid/article/view/664
Djafri, F., et al. (2022). Waqf in Malaysia: The Development of Legal and Institutional Framework. Sultan Qaboos University Legal Studies Journal, 1(1), Article 6. https://doi.org/10.61191/squlsj.v1i1.4599
Soualhi, Y., & Djafri, F. (2021). Sharīʿah Framework for Pricing Family Takāful Products. Intellectual Discourse, 29(1), 89–116. https://journals.iium.edu.my/intdiscourse/index.php/id/article/view/1760
Djafri, F., Laldin, M. A., & Laallam, A. (2021). The Global Perspective of Islamic Finance and the Potential for China to Tap into the Islamic Finance Market. Journal of Islamic Business and Management, 11(1), 14-28. https://doi.org/10.26501/jibm/2021.1101-002
Kachkar, O. A., & Djafri, F. (2021). Exploring the Intentional Behaviour of Refugees in Participating in Micro-Enterprise Support Programmes (MESP): Is Theory of Planned Behaviour (TPB) Still Relevant? Journal of Entrepreneurship in Emerging Economies. https://doi.org/10.1108/JEEE-05-2020-0150
Laldin, M. A., & Djafri, F. (2019). Islamic Finance in The Digital World: Opportunities and Challenges (Kewangan Islam dalam Dunia Digital: Peluang dan Cabaran). Journal of Islam in Asia, 16(3), 283–299. https://journals.iium.edu.my/jiasia/index.php/jia/article/view/853
Djafri, F., & Laldin, M. A. (2019). The Malaysian Experience in Sukuk Issuance. ISRA International Journal of Islamic Finance (Arabic Journal), 10(1), 77-114. https://journal.inceif.edu.my/index.php/ijif-arabic/article/view/258
Djafri, F., Noordin, K., & Mohammed, K. N. (2018). The measurement model of performance determinants: A case study of Islamic insurance (takaful) in Malaysia. The International Journal of Systems and Ethics, 34(2), 166-185. https://doi.org/10.1108/IJOES-05-2017-0075
Djafri, F., & Noordin, K. (2017). The impact of workplace spirituality on organizational commitment: A case study of Takaful agents in Malaysia. Humanomics, 33(3), 384-396. https://doi.org/10.1108/H-02-2017-0018

Book Chapters

Djafri, F. (2024). Malaysian Institutions Collaborative Efforts in the Development of Islamic Finance in Turkiye. In I. J. Asyraf & A. Ömer (Eds.), Deepen the Ties: A Multi-dimensional Perspectives of Malaysia-Turkiye Relations. Kuala Lumpur: UP Press.
Djafri, F. (2023). Takaful and Re-takaful. In Islamic Financial System: Principles and Operations (3rd ed.). Kuala Lumpur, Malaysia: International Shariah Research Academy for Islamic Finance (ISRA).
Djafri, F., et al. (2022). Law of Property and Property Rights in Islam: A Summary of Fiqh Al Maal. In M. Ayub (Ed.), Economics and Economic Policy: Islamic Perspective (pp. 93-109). Riphah International University (RIU), International Institute of Islamic Thought (IIIT).
Djafri, F., & Laldin, M. A. (2021). The Role of Islamic Finance in Achieving Sustainable Development Goals (SDGs). In M. Kabir Hassan, M. Saraç, & A. Khan (Eds.), Islamic Finance and Sustainable Development: A Sustainable Economic Framework for Muslim and Non-Muslim Countries (pp. 107-126). Palgrave Macmillan, Springer. https://doi.org/10.1007/978-3-030-76016-8_6
Laldin, M. A., Syed Abdul Kader, S. Z., & Djafri, F. (2021). Waqf Development in Malaysia. In S. N. Ali & U. A. Oseni (Eds.), Waqf Development and Innovation: Socio-Economic and Legal Perspectives. London. https://doi.org/10.4324/9781003158073
Laldin, M. A., Djafri, F., & Mikail, S. A. (2020). Ethics in the Light of Maqasid Al-Shari’ah: A Case Study of Islamic Economics and Finance. In A. Mirakhor, Z. Iqbal, & S. K. Sadr (Eds.), Handbook of Ethics of Islamic Economics and Finance (pp. 21-47). Berlin, Boston: De Gruyter, Academic Press. https://doi.org/10.1515/9783110593419-002
Noordin, K., & Djafri, F. (2016). Issues and Challenges in Introducing Islamic Insurance (Takaful) into the Algerian Financial Market: Lessons from Malaysia. In S. K. Ab. Manan, F. Abd Rahman, & M. Sahri (Eds.), Contemporary Issues and Development in the Global Halal Industry. Springer.

Industrial Reports

Artificial Intelligence and Buy Now Pay Later: New Tools or New Threats to Financial Shariah Compliance (2025). Centre of Islamic and Middle Eastern Law (CIMEL), SOAS University of London.
Scholars Review of Tayyib Concept Discussion Paper (2024). MIFC Leadership Council.
Decentralized Assets, Bank Failures and Green Finance Time for A Shariah-Compliant Monetary System? Centre of Islamic and Middle Eastern Law (CIMEL), SOAS University of London, 2024.
Cryptos: Distinguishing Hype & Realities in Islamic Finance (2023). Centre of Islamic and Middle Eastern Law (CIMEL), SOAS University of London.
Islamic Finance: Shariah and The SDGs (2021). Thought Leadership Series Part 4. Joint report: ISRA & UKIFC.