Staff Directory
Academic Qualification
- Doctor of Philosophy (Accounting) - Doctor of Philosophy, International Islamic University Malaysia
- Master on Arts in Corporate Strategy and Governance - Masters Degree, University of Nottingham
- Bachelor of Science in Business Administration - Bachelor Degree, University of Denver
Zulkufly Bin Ramly (Assoc. Prof. Dr.)
Associate Professor
IIUM Gombak Campus
KULLIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES
zul_ramly@iium.edu.my
4677
Expert Profile
Dr. Zulkufly Ramly is an Associate Professor at the Department of Finance. He was the Deputy Dean (Postgraduate and Responsible Research) at the Kulliyyah of Economics and Management Sciences from 2021 to 2023. Prior to this he was the Head of MBA Programme at IIUM Graduate School of Management in 2021 and an Academic Advisor of the Finance Department from 2014 to 2016. As the Head of MBA Dr Zul led a Curriculum Review Panel to review the curriculum of MBA in 2021. He was also the Chair of the Curriculum Review Committee for the Bachelor of Science (Islamic Finance) (Honours) from 2016 to 2018.
Dr Zul started his career in IIUM as an Assistant Professor in 2013. Prior to joining IIUM he was an academic staff of the Faculty of Business and Accountancy, University of Malaya (UM) and University Tunku Abdul Rahman (UTAR) for about 6 years and 3 years respectively. He has 8 years industry experience in a global bank operating in Malaysia. He started his academic career about 20 years ago after completing his Master's degree. He holds a Ph.D. in Accounting specializing in Corporate Governance from IIUM and Master of Arts in Corporate Strategy and Governance from the University of Nottingham, United Kingdom. In 1994, Dr Zul obtained his Bachelor of Science in Business Administration, majored in Finance with Magna Cum Laude from the University of Denver, Colorado, USA.
He is a subject matter expert in the areas of corporate governance and ethics, risk management, banking, financial planning and corporate finance. He has supervised to completion a number of MSc (Finance). DBA and PhD candidates in the areas of corporate governance, corporate finance, public governance, banking and Islamic banking and finance. He is currently supervising a PhD and a Master in Finance candidate in corporate finance and green finance, respectively. He had completed two research grants from the Ministry of Education, Malaysia for the research projects on Shariah and corporate governance and Islamic banks' risk-taking and Goods and Services Tax (GST) respectively. He was a co-researcher for a research grant on the study of GST and inflation awarded by PNB Research Institute in 2018. His current research interests are in working capital management skills of women microentrepreneurs, climate change risk, financial stability, ESG and green finance.
Dr. Zul co-authored and published university textbooks on business ethics and corporate finance with Oxford University Press. He has also published a research book on Value-Added Tax, Country Governance and Economic Efficiency with UM Press. In 2022, he published another research book on Value-Added-Tax and Inflationary Episodes with IIUM Press. He has also published research papers in Review of Managerial Sciences, Panoeconomicus, Global Economics Review, Economics and Management Journal, UKM Journal of Management, Asia-Pacific Social Science Review, International Journal of Economics and Financial Issues and other refereed journals. He is an ad-hoc article reviewer of Corporate Governance: An International Journal of Business and Society, Asian Journal of Business and Accounting, International Journal of Economics, Management and Accounting, Journal of Accounting Perspective, International Journal of Business and Economics Research, International Journal of Economics and Management, UKM Journal of Management, Malaysian Journal of Economic Studies, Jurnal Ekonomi Malaysia, Asia-Pacific Social Science Review, SAGE Open, Asian Academy of Management Journal of Accounting and Finance. Cogent Economics and Finance, Cogent Business and Management, Cogent Social Sciences, and a book reviewer for Oxford University Press.
Currently, Dr Zul is the Editor of International Journal of Economics, Management and Accounting (IJEMA)for the 2024-2026 term. He was an Associate Editor of IJEMA in 2018 prior to his sabbatical leave in 2019. In terms of professional contribution, he has been a member of the Assessment Review Panel of the Chartered Secretaries Malaysia since 2017, collectively responsible for ensuring the quality and rigor of the professional examination papers of the Chartered Governance Qualifying Programme (CGQP). He has taught undergraduate courses in financial management, financial statement analysis, Islamic financing management, corporate governance and ethics, and bank management. He frequently delivers Risk Management for Islamic Financial Institutions, Corporate Governance and Ethics and Personal Financial Planning courses for the Bachelor of Finance (Islamic Finance) programme. He has previously taught advanced finance, strategic finance, managerial finance, corporate ethics and governance for Master in Finance, Master of Management, MBA and DBA programmes.
Area of Specialisation
- Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Corporate Finance - Ownership, Corporate risk-taking, capital structure
- Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Financial Literacy - Spending, investment and savings behaviour, financial education
Teaching Responsibilities
ADVANCED FINANCE | 2020/2021 2019/2020 |
BANK MANAGEMENT | 2017/2018 2016/2017 2015/2016 2014/2015 2013/2014 |
BANK OPERATIONS AND MANAGEMENT | 2022/2023 |
CORPORATE ETHICS AND GOVERNANCE | 2023/2024 2020/2021 2019/2020 |
CORPORATE FINANCE | 2020/2021 |
CORPORATE GOVERNANCE AND ETHICS | 2023/2024 2022/2023 |
CORPORATE GOVERNANCE, GOVERNMENT & SOCIETY | 2022/2023 2019/2020 |
ETHICS AND VALUES IN MANAGEMENT | 2022/2023 |
ETHICS, INTEGRITY & SUSTAINABILITY IN BUSINES | 2022/2023 2021/2022 |
FINANCIAL MANAGEMENT AND POLICIES | 2019/2020 2018/2019 |
FINANCIAL MANAGEMENT I | 2013/2014 |
FINANCIAL MANAGEMENT II | 2020/2021 2019/2020 2018/2019 2017/2018 |
FINANCIAL STATEMENT ANALYSIS | 2017/2018 2016/2017 2013/2014 |
FINC. ANALYSIS FOR STRATEGIC DECISION MAKING | 2022/2023 |
FUNDAMENTALS OF FINANCIAL MANAGEMENT | 2021/2022 |
INTERMEDIATE FINANCIAL MANAGEMENT | 2021/2022 |
ISLAMIC FINANCING MANAGEMENT | 2020/2021 2016/2017 2015/2016 |
MANAGERIAL FINANCE | 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 2013/2014 |
PERSONAL FINANCIAL PLANNING | 2023/2024 |
RISK MANAGEMENT OF ISLAMIC FINANCIAL INSTITUTIONS | 2023/2024 2022/2023 |
STRATEGIC FINANCE | 2023/2024 |
Supervision
Corporate Governance Mechanisms And Risk-Taking In Oic Countries:Analysis Of Islamic And Conventional Banks.
Ph.D
Completed
2023
Main Supervisor
|
The Effect Of Firm-Specific Factors On Systematic Risk Across Various Industries In Asean-5 Countries: Panel Data Evidence.
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
|
Capital Structure In China: Firm-Specific Factors, Corporate Governance And Institutional Factors.
Ph.D
Completed
2018
Co-supervisor
|
Working Capital Management And Economic Sustainability Of Micro Enterprises. The Moderating Role Of Entrepreneurial Finance Skills And Entrepreneurship Training Programme.
Ph.D
In Progress
Main Supervisor
|
Board Size, Chief Risk Officer And Islamic Banks Risk Taking : The Role Of Shariah Supervisiory Board.
Master
Completed
2018
Main Supervisor
|
Shariah Supervision Board, Board Of Directors, Risk Committee And Risk-Taking Of Islamic Banks In Malaysia.
Master
Completed
2018
Main Supervisor
|
Board Capital, Board Independence And Bank Risk Taking Behaviour Of Malaysian Commercial Banks.
Master
Completed
2017
Main Supervisor
|
The Efficiency And Growth Trajectory Of Domestic And Foreign Banks: Empirical Evidence From Commercial Banks In Algeria.
Master
Completed
2017
Co-supervisor
|
Ownership Structure And Risk Taking Behaviour Of Malaysian Commercial Banks.
Master
Completed
2016
Main Supervisor
|
Shariah Governance Quality And The Efficiency Of Takaful Industry In Malaysia.
Master
Completed
2016
Main Supervisor
|
Independent Directores And Risk-Taking Behavior Of Islamic Banks: The Moderating Role Of Shariah Governance.
Master
Completed
2016
Main Supervisor
|
Climate Change And Bank Stability. The Moderating Effect Of Green Financing And Esg In Malaysian Islamic And Conventional Banks.
Master
In Progress
Main Supervisor
|
Research Projects
Completed
2015 - 2019 | Modelling the Effect of Shari?ah Governance, Risk Governance and Corporate Governance in Predicting Risk-Taking Behaviour of Malaysian Islamic Banks |
2015 - 2015 | Malaysia Islamic Finance Education Report (MIFER) |
On-Going
2018 - Present | China's Outbound Direct Investment And The World Economic |
2018 - Present | The Effect of Goods and Services Tax on Inflationary Episode |
2016 - Present | Modelling Risk-Taking Behaviour of Islamic and Conventional Banks |
Award & Recognition
15 Aug, 2015 | Best Paper Award - Kuala Lumpur International Business, Economics and Law Conference 7 (KLIBEL7) | International |
Publications
Article
Conference or Workshop Item
2015 | Gender diversity, board monitoring and bank efficiency in ASEAN-5. In: 7th Kuala Lumpur International Business, Economics and Law Conference 7 (KLIBEL7), |
2015 | Public spending efficiency and economic growth: the moderating roles of value-added tax and country governance. In: The International Conference on Economics, Accounting and Business Management (EABM 2015), |
2014 | Board governance, diversity and efficiency: evidence from ASEAN-5 commercial banks . In: The UUM International Conference on Governance 2014 (ICG 2014), |
2014 | Model of good corporate governance: a study of commercial banks in ASEAN5. In: 12th International Conference on Data Development Analysis, |
Book
2022 | Tax reform and inflationary episode. IIUM Press, ISBN: 9789674911997 |
2021 | Financial Intelligence. -, ISBN: |
2019 | Value-added tax, country governance and economic efficiency. University of Malaya Press, ISBN: 978-967-488-077-4 |
2018 | Business ethics, 2nd edition. Oxford University Press, ISBN: 978-983-47-2621-8 |
2018 | Corporate finance: an Asian perspective. Oxford University Press, ISBN: 9789672113294 |
2016 | Malaysia: Islamic finance education report (MIFER) 2015. UUM Press, ISBN: 9789671390313 |
2014 | Business ethics. Oxford University Press, ISBN: 978 983 47 1271 6 |