Staff Directory
Academic Qualification
- Doctor of Philosophy in Business Administration (Finance) - Doctorate of Business Admin., Universiti Kebangsaan Malaysia (UKM)
- Master of Business Administration (Finance) - Masters Degree, International Islamic University Malaysia
- Bachelor of Business Administration (Finance) - Bachelor Degree, Universiti Teknologi MARA (UiTM)
- Diploma in Investment Analysis - Diploma, Universiti Teknologi MARA (UiTM)
Razali Bin Haron (Prof. Dr.)
Professor
IIUM Gombak Campus
INSTITUTE OF ISLAMIC BANKING AND FINANCE
Other's position:
Head, Institute of Islamic Banking and Finance
hrazali@iium.edu.my
4183
Expert Profile
Prof. Dr. Razali Haron obtained his DBA from UKM in 2012, MBA (Finance) from IIUM in 2003 and BBA (Finance) from UiTM in 1994. Prior to joining IIUM in 2003, he had extensive industrial experience for almost 13 years covering the capital market, portfolio management, unit trust industry and merchant (investment) banking in Malaysia. With his vast industry experience, he has been appointed as a member of the IIUM Investment sub-Committee since 2012. His area of expertise includes the corporate finance, capital market and portfolio management and has published his research works with reputable international publishers such as the Emerald, Elsevier, Sage, Inderscience and Palgrave Macmillan. Being an active researcher, he has been awarded with - The Best Researcher Award and Best Indexed Journal Article (Department of Finance) in 2014, Highest Citation in Citation Index Journal (Social Science) at the IIUM Quality Day 2015, Top 250 Contributors to IIUM Research Performance 2015-2017, Highest Number of Publications Award (IIiBF - 2019) and Top 30 Contributors to IIUM Research Performance at the IIUM Takrim Day 2019. He was the research coordinator at the Department of Finance (2012-2014), Head Master of Management Program at the Graduate School of Management (2012 to 2014) and Deputy Dean (Research and Publication) of IIiBF (2017-2018) (2022-2023) and Head of Research (2023-2024). He has edited three research books; Islamic Fund and Wealth Management (2019-IIiBF), Banking and Finance (2020-IntechOpen, UK) and Handbook of Research on Islamic Social Finance and Economic Recovery After a Global Health Crisis (2021-IGI Global). Very recently, his co-authored paper on Bitcoin Currency has been awarded with The Highly Commended Paper in the 2020 Emerald Literati Awards. The editorial team of Emerald stated that it is one of the most exceptional pieces of work they saw throughout 2019. Dr Razali is currently the Editor-in-Chief of Journal of Islamic Finance and Associate Editor of The Capital Market Review.
Area of Specialisation
- Economics, Business And Management ~ Economics, Business And Management ~ Entrepreneurship ~ Small-Medium Enterprises (SME) - SME Financing
- Economics, Business And Management ~ Economics, Business And Management ~ Investment ~ Islamic Investment Instrument - Unit Trust Funds/Sukuk
- Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Risk Management - Portfolio Diversification/Options Pricing
- Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Corporate Finance - Capital Structure
- Unspecified ~ Economics, Business And Management ~ Investment ~Stock Market Studies - Integration
Professional Membership
- 2006 - 2013: Member of Profesional Body / Association, Malaysian Finance Association
- 2010 - 2013: Member of Profesional Body / Association, Financial Planning Association of Malaysia
Teaching Responsibilities
BUSINESS MATHEMATICS AND STATISTICS | 2021/2022 |
CORPORATE FINANCE | 2003/2004 |
FINANCIAL DERIVATIVES | 2013/2014 2012/2013 2011/2012 |
FINANCIAL MANAGEMENT ANALYSIS | 2023/2024 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 |
FINANCIAL MANAGEMENT AND POLICIES | 2014/2015 2013/2014 2012/2013 |
FINANCIAL MANAGEMENT I | 2005/2006 2004/2005 2003/2004 |
FINANCIAL MANAGEMENT II | 2003/2004 |
FINANCIAL STATEMENT ANALYSIS | 2014/2015 2012/2013 2011/2012 2009/2010 |
FUTURES, OPTIONS & RISK MANAGEMENT | 2017/2018 2012/2013 2011/2012 2010/2011 2009/2010 |
FUTURES,OPTIONS AND RISK MANAGEMENT | 2013/2014 2012/2013 |
INTERNATIONAL FINANCE | 2011/2012 |
INVESTMENT ANALYSIS | 2017/2018 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2010/2011 2005/2006 2004/2005 |
ISLAMIC CAPITAL MARKET | 2018/2019 2017/2018 2016/2017 |
ISLAMIC FINANCING MANAGEMENT | 2015/2016 2014/2015 2013/2014 |
MANAGERIAL FINANCE | 2015/2016 2014/2015 |
MANAGING RISK-FUTURES & OPTIONS | 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 |
MANAGING RISKS WITH FUTURES AND OPTIONS | 2015/2016 |
PORTFOLIO MANAGEMENT | 2021/2022 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2005/2006 |
PRINCIPLES OF ACCOUNTING AND FINANCE | 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 |
QUANTITATIVE METHODS | 2023/2024 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 |
SEMINAR IN FINANCE | 2012/2013 |
Supervision
The Role Of Zakat Institution In Entrepreneurship Programme In Indonesia Case Study On Zakat Institution Of Muhammadiyah (Lazismu)
.
Ph.D
Completed
2024
Main Supervisor
|
Corporate Governance And Capital Structure: Empirical Evidence On Shariah And Non-Shariah Stocks In Indonesia.
Ph.D
Completed
2024
Main Supervisor
|
An Islamic Equity-Based Microfinance Models For Msmes In The State Of Libya.
Ph.D
Completed
2023
Main Supervisor
|
The Impact Of Corporate Governance On
Foreign Ownership: Empirical Evidence On
Islamic Capital Market In Kuwait.
Ph.D
Completed
2023
Main Supervisor
|
The Impact Of Basel Iii On The Risk Of Islamic
Banks.
Ph.D
Completed
2023
Co-supervisor
|
The Influence Of Corporate And Shariah Governance Mechanisms On The Values-Based Performance (Vbp) Of Islamic Banks In Malaysia
.
Ph.D
Completed
2023
Co-supervisor
|
Factors Affecting Intention To Re-Endow Among The Cash Waqf Endowers In Klang Valley Malaysia.
Ph.D
Completed
2023
Co-supervisor
|
Optimizing Solvency Margin In Family Takaful And Life Insurance Institutions In Malaysia
.
Ph.D
Completed
2023
Co-supervisor
|
Corporate Governance, Corporate Social Responsibility Disclosure And Financial Performance Of Shariah Compliant Public Listed Companies In Malaysia.
Ph.D
Completed
2022
Main Supervisor
|
Effects Of Financial Liberalisation On The Financial Stability: A Comparative Analysis Between Islamic Banks And Conventional Banks In Malaysia.
Ph.D
Completed
2022
Co-supervisor
|
Monetary Policy Transmission In Economic System Through Credit Channel Of Islamic And Conventional Banks In Pakistan
.
Ph.D
Completed
2022
Co-supervisor
|
Impacts Of Derivatives And Managerial Ownership On The Financial Performance Of Shari'Ah Compliant Firms.
Ph.D
Completed
2021
Main Supervisor
|
Determinants Of Home Bias And Foreign Bias In The Global Portfolio Investment Of Selected Oic Countries
.
Ph.D
Completed
2021
Co-supervisor
|
Corporate Governance, Intellectual Capital Efficiency And Performance Of Islamic Banks: Evidence From Islamic Countries.
Ph.D
Completed
2020
Main Supervisor
|
Dual Board Governance, Ownership Structure And Performance Of Islamic Banks: A Comparative Analysis On Selected Countries
.
Ph.D
Completed
2019
Main Supervisor
|
Volatility, Asymmetric Relationship, And Hedging Effectiveness: A Study On Derivative Markets In Malaysia.
Ph.D
Completed
2018
Main Supervisor
|
The Impact Of Capital Regulation, Income Diversification And Ownership Structure On Risk Of Commercial Banks.
Ph.D
Completed
2018
Main Supervisor
|
The Determinants And The Impact Of Bank Regulations And Supervision On The Efficiency Of Islamic Banks.
Ph.D
Completed
2018
Main Supervisor
|
Capital Structure In China: Firm-Specific Factors, Corporate Governance And Institutional Factors.
Ph.D
Completed
2018
Main Supervisor
|
The Determinants Of Debt Financing And Firm Performance: Evidence On Shariah Approved Firms.
Ph.D
Completed
2018
Co-supervisor
|
Development And Validation Of A Financially Affordable Islamic Home Financing Model In Malaysia
.
Ph.D
Completed
2018
Co-supervisor
|
Banks Stability Measures For Selected Oic Countries With Dual Banking System.
Ph.D
Completed
2018
Co-supervisor
|
Blue Ocean Strategy Model For Development Of Islamic Banking In Indonesia.
Ph.D
In Progress
Main Supervisor
|
G Factor Of Esg & Technical Effiency In Dual Banking Systems.
Ph.D
In Progress
Main Supervisor
|
Critical Success Factors For Penetration Of Family Takaful In Malaysia :An Extension Of Utaut2 Theory
.
Ph.D
In Progress
Main Supervisor
|
Factors Influencing Corporate Sukuk Market
Issuance: The Case Of Selected Oic Countries:
Before And During Covid-19.
Ph.D
In Progress
Main Supervisor
|
The Impact Of Environmental, Social, And Governance (Esg) Practices On Firm Risk: A Moderating Role Of A Country'S Esg.
Ph.D
In Progress
Main Supervisor
|
Working Capital Management
Efficiency: Evidence From Oic Countries And Non-Oic Countries.
Ph.D
In Progress
Main Supervisor
|
The Intention Of Retail Investors To Use Islamic Fintech In Indonesia Islamic Capital Market.
Ph.D
In Progress
Main Supervisor
|
Bank Specific And
Macroeconomic Determinants
Of Credit Risk An Empirical
Study Of Islamic Bank In
Indonesia..
Ph.D
In Progress
Main Supervisor
|
Sustainability Of Takaful Industry In Nigeria.
Ph.D
In Progress
Main Supervisor
|
Herding Behaviour In Islamiccapital Market: Evidence From International Capital Market.
Ph.D
In Progress
Main Supervisor
|
Esg Scores And Financial Performance Of Shariah Compliantfirms: Empirical Evidence On Indonesia And Malaysia Islamic Capital Market.
Ph.D
In Progress
Main Supervisor
|
The Impact Of Intellectual
Capital And Shariah Governance
On Value Based Performance Of
Islamic Financial Institutions.
Ph.D
In Progress
Main Supervisor
|
Issues Of Zakat Collection Through Salary Deduction In Selangor. A Proposed Framework For Sustainability.
Ph.D
In Progress
Main Supervisor
|
SharīʿAh Governance And Performance Of Southeast Asia And Gcc Islamic Banks: The
Moderating Effect Of Institutional Shareholding.
Ph.D
In Progress
Main Supervisor
|
Impact Of Fintech On Financial Inclusion In Nigerian Banks.
Ph.D
In Progress
Co-supervisor
|
Digital Banking For The Socio-Economic Advancement In Malaysia Through Islamic Social Finance Instruments..
Ph.D
In Progress
Co-supervisor
|
The Intention Of Retail Investors To Use Islamic Fintech In Indonesia Islamic Capital Market.
Ph.D
In Progress
Co-supervisor
|
Impact Of Macroeconomics, Banks Specific Variables, And Fintech On Credit And Credit Risk: Comparing Islamic And Conventional Banks In Indonesia.
Ph.D
In Progress
Co-supervisor
|
Cross-Border Dynamics: An Empirical Study Of Return And Volatility Spillover Among Publicly Listed Islamic Banks In Several Countries.
Master
Completed
2024
Main Supervisor
|
Herding Behaviour In Islamic And Conventional Stock Market: Evidence From Sea Stock Market.
Master
Completed
2023
Main Supervisor
|
Does Shariah Governance Affect Innovation, Performance & Sustainability Of Islamic Bank? Empirical Evidence From Malaysia & Saudi Arabia..
Master
Completed
2023
Main Supervisor
|
The Effect Of Murabahah, Musyarakah, And Mudharabah Financing On The Profitability Of Islamic Commercial Bank In Indonesia.
Master
Completed
2022
Main Supervisor
|
Corporate Governance And Corporate Social Responsibility In Islamic Banks: A Systematic Literature Review.
Master
Completed
2022
Main Supervisor
|
Corporate Governance And Firm Performance: Empirical Evidence From The Property-Listed Companies In Malaysia.
Master
Completed
2021
Main Supervisor
|
Review On The Efficiency Of Takaful And Insurance Companies In
Malaysia.
Master
Completed
2021
Main Supervisor
|
The Influence Of The Investment Policy, Debt Policy, And Dividend Policy On The Stock Return Of Shariah Compliant Stocks In Indonesia (Issi).
Master
Completed
2021
Main Supervisor
|
The Effect Of Financial Inclusion And Islamic Banking Development Of Financial Stability In Islamic Countries (Oic).
Master
Completed
2020
Main Supervisor
|
Service Quality, Customer Satisfaction And Loyalty In Banking Sector, The Role Of Digital Banking Transformation In Rhb Bank Berhad.
Master
Completed
2020
Main Supervisor
|
Shariah Board And Islamic Banks Performance.
Master
Completed
2020
Main Supervisor
|
Zakat And The Performance Of Islamic Banks In Malaysia.
Master
Completed
2020
Main Supervisor
|
A Critical Review On Performance Of Takaful And Insurance Companies In Malaysia.
Master
Completed
2020
Main Supervisor
|
An Investigation On Options In Islamic Transaction : The Evidence From Past And Contemporary Practice.
Master
Completed
2019
Main Supervisor
|
An Investigation On Options In Islamic Transaction : The Evidence From Past And Contemporary Practice.
Master
Completed
2019
Main Supervisor
|
Issues On Faraid Practices In Malaysia : Qualitative Inquiries.
Master
Completed
2019
Main Supervisor
|
The Impact Of Islamic Microfinance On Micro-Enterprises Performance In Somali Land.
Master
Completed
2019
Main Supervisor
|
The Role Of Islamic Banks In Promoting Sme'S In Malaysia.
Master
Completed
2019
Main Supervisor
|
Comparative Study Of Islamic Reits And Conventional Reits Based On Risk Adjusted Performance.
Master
Completed
2019
Main Supervisor
|
The Effect Of Corporate Governance On Firm Performance In Indonesia Shariah Compliant Companies.
Master
Completed
2019
Main Supervisor
|
The Effect Of Corporate Governance To Islamic Banking Performance Using Maqasid Index Approach In Indonesia.
Master
Completed
2018
Main Supervisor
|
The Potential Of Crowdfunding And Blockchain In The Development Of Cash-Waqf.
Master
Completed
2018
Main Supervisor
|
Service Quality On Customer Satisfaction And Loyalty: Mediating Role Of Trust.
Master
Completed
2018
Main Supervisor
|
The Role Of Maslahah In Constructing Contemporary Banking Fatwas An Analytical Study Of Selected Fatwas Issued By Bank Negara And Securities Commission Of Malaysia.
Master
Completed
2018
Main Supervisor
|
Board Size, Chief Risk Officer And Islamic Banks Risk Taking : The Role Of Shariah Supervisiory Board.
Master
Completed
2018
Co-supervisor
|
Waqf For Higher Education : An Exploratory Study On The Awareness Of Waqf Practice By Iium Endowment Fund Among Iium Staff.
Master
Completed
2018
Co-supervisor
|
Shariah Supervision Board, Board Of Directors, Risk Committee And Risk-Taking Of Islamic Banks In Malaysia.
Master
Completed
2018
Co-supervisor
|
Risk Mitigation Between Investment Account Platform And Equity Crowdfunding.
Master
Completed
2017
Main Supervisor
|
Determinants Of Bank Profitability In Malaysia : Conventional Versus Islamic.
Master
Completed
2017
Co-supervisor
|
Determinants Of Efficiency Of Islamic Banks : Indonesian Evidence.
Master
Completed
2016
Main Supervisor
|
Shariah Governance Quality And The Efficiency Of Takaful Industry In Malaysia.
Master
Completed
2016
Co-supervisor
|
The Performance Of Unit Trust Funds In Malaysia: A Dea Approach.
Master
Completed
2015
Main Supervisor
|
Financial Planning And Unit Trust Investment: Survey Evidence.
Master
Completed
2015
Main Supervisor
|
Factors Affecting Working Capital Management Before And During The Financial Crisis 1990s: Evidence From Malaysia.
Master
Completed
2014
Main Supervisor
|
Efficiency Of Turkish Banks : Application Of First Stage Dea And Second Stage Dea On Panel Data Analysis.
Master
Completed
2014
Main Supervisor
|
Efficiency Of Islamic And Conventional Banks In Qatar : An Empirical Investigation Based On Data Envelopment Analysis (Dea).
Master
Completed
2014
Main Supervisor
|
Ownership Structure, Capital Structure And Firma Performance: Evidence From Malaysia.
Master
Completed
2014
Main Supervisor
|
Long Run Relationship And Volatility Of Futures Market: Empirical Evidence On Malaysian Crude Palm Oil (Cpo) Futures.
Master
Completed
2014
Main Supervisor
|
Dynamic Capital Structure - Indonesian Evidence.
Master
Completed
2013
Main Supervisor
|
Pricing Efficiency Of Malaysia Stock Index Futures.
Master
Completed
2013
Main Supervisor
|
The Pricing Efficiency Of Equity Warrants: Malaysia Empirical Evidence.
Master
Completed
2013
Main Supervisor
|
Research Projects
Completed
2021 - 2023 | MUSHARAKAH AS AN ISLAMIC FINANCIAL STRUCTURE FOR VENTURE CAPITAL: ITS POTENTIALS AND POSSIBLE APPLICATIONS FOR SMALL AND MEDIUM ENTERPRISES (SMEs) IN MALAYSIA |
2016 - 2018 | Property Price Hike and Speculation |
2016 - 2018 | A Second Order Self-Reported Religiosity Measurement Invariance Analysis of the Psychological Biases among Muslim Retail Investors in Malaysia |
2014 - 2015 | What Can We Learn from Working Capital Management during the Different Business Cycles of Malaysian Firms |
2013 - 2016 | Formulating New Model to Mitigate Access to Financing Problem Among SMEs in Malaysia |
2013 - 2017 | Developing an Islamic Financing Model for Abandoned Housing Projects |
2012 - 2016 | A Conceptual Analysis on the Application of REITs in Developing Waqaf Land in Malaysia |
2012 - 2016 | Capital Structure and the Financing Decisions of SMEs: Survey and Empirical Evidence on Malaysia |
2012 - 2015 | Firms Rational Financing Behaviour: Malaysia Evidence |
2011 - 2012 | Speed of Adjustment towards Target Capital Structure: Southeast Asia Evidence (RU 2011) |
2011 - 2013 | How Important is the Impact of Market Timing on Capital Structure? A Management Perspective (RU 2011) |
On-Going
2024 - Present | IIiBF Research Database Project |
2024 - Present | Integrating Islamic Social Finance for Women Empowerment: Challenges, Strategy, and Future Direction |
Award & Recognition
24 Jul, 2019 | Highest Number of Publications Award (Index Journal Articles) - Kulliyyah Level - International Islamic University Malaysia | University |
24 Jul, 2019 | Top 30 Contributors to IIUM Research Performance - International Islamic University Malaysia | University |
23 Jul, 2018 | Top 250 Contributors to IIUM Research (MyRA) Performance (2015-2017) - International Islamic University Malaysia | University |
24 Jun, 2015 | Best Indexed Journal Article - KENMS | KCDIO |
29 Apr, 2015 | Highest Citation in Citation Index Journal Award - IIUM | University |
19 Sep, 2014 | Best Resercher Award 2014 Finance Department - Kulliyyah of Economics and Management Sciences | University |
20 Feb, 2013 | IIUM IRIIE 2013 - IIUM | University |
13 Oct, 2012 | Best Thesis Award (UKM 40th Convocation) - Graduate School of Business-Universiti Kebangsaan Malaysia | National |
15 Jun, 2012 | IIUM IRIIE 2012 - IIUM | University |
17 Jun, 2011 | Best Research Paper Award - Global Business and Social Science Research Conference, China (2011) | International |
17 Jun, 2005 | Quality Award - IIUM | University |
Publications
Article
Conference or Workshop Item
Book
Book Section
Monograph
2012 | Speed of adjustment towards target capital structure: Southeast Asia evidence. In: s.n, |