Staff profile

Before joining Durham University as the Sharjah Chair in Islamic Law and Finance, Habib was Manager, Research and Development, Islamic Banking Development Group, The National Commercial Bank (NCB), Kingdom of Saudi Arabia and worked at Islamic Research & Training Institute of the Islamic Development Bank Group, Saudi Arabia. Habib has taught at the University of Connecticut, USA, the National University of Singapore, and the University of Bahrain. He has worked also as a Visiting Professor at Hamad bin Khalifa University, Qatar and Indonesian International Islamic University. Habib has been a member of the Capital Adequacy Working Group of the Islamic Financial Services Board (IFSB) which is responsible for, among others, setting standards and guidelines for Islamic banks and financial institutions.

Habib was appointed a Fellow (Honorary) at the Cambridge Judge Business School, University of Cambridge in May 2023 and an Honorary Professor at the Department of Islamic Banking, University of Jordan since January 2024. He was awarded the IsDB Prize for Impactful Achievement in Islamic Economics (First Prize) in 2022 for his contributions to research in Islamic economics and finance.

Mini Biography

Before joining Durham University as the Sharjah Chair, Habib was Manager, Research and Development, Islamic Banking Development Group, The National Commercial Bank (NCB), Kingdom of Saudi Arabia. He also worked at the Islamic Research & Training Institute of the Islamic Development Bank Group, Saudi Arabia and taught at the University of Connecticut, USA, the National University of Singapore, and the University of Bahrain.

• Islamic Economics and Finance
• Contemporary applications of Islamic commercial law
• Economics of law
• Non Profit Organisations and Waqf

Authored book

• Ahmed, H. (2011). Product Development in Islamic Banks. Edinburgh University Press
• Ahmed, H. (2007). 'Issues in Islamic Corporate Finance: Capital Structure in Firms'. (Research Paper 70). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H. (2005). 'Operational Format for Islamic Equity Finance: Lessons from Venture Capital'. (69). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H. (2004). 'Role of Zakat and Awqaf in Poverty Alleviation'. (8). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H., & Chapra, M. U. (2002). 'Corporate Governance in Islamic Financial Institutions'(Translated into Arabic). (6). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H. (2002). 'A Microeconomic Model of an Islamic Bank'. (59). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H., & Khan, T. (2001). 'Risk Management: An Analysis of Issues in Islamic Financial Industry'(Translated into Arabic and French). (5). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H. (2001). 'Exchange Rate Stability: Theory and Policies from an Islamic Perspective'. (57). Islamic Research and Training Institute, Islamic Development Bank Group

Chapter in book

• Ahmed, H. The Islamic social sector (zakat and waqf) and development: principles, status and prospects. In A. A. Khan, & A. Cheema (Eds.), Islamic and International Development: Insights for working with Muslim Communities. Practical Action Publishing, Rugby
• Ahmed, H. The Challenge Facing Islamic Banking and Finance: Has it Moved Away from its Core Objectives, with Special Reference to Maqasid. In I. Nassery, R. Ahmed, & M. Tatari (Eds.), The Objectives of Islamic Law: The Promises and Challenges of the Maqasid al-Shari’a. Lexington Books
• Ahmed, H. (2022). Integrating Waqf and Islamic Finance: Creating Synergies for Social Impact. In S. Nazim Ali, & U. A. Oseni (Eds.), Waqf Development and Innovation: Socio-Economic and Legal Perspectives (50-62). Routledge. https://doi.org/10.4324/9781003158073-7
• Ahmed, H. (2019). Legal Constraints to the Development of Waqf. In K. M. Ali, M. K. Hassan, & A. E. E. S. Ali (Eds.), Revitalization of Waqf as Socio-Economic Development, Volume II (153-174). Springer. https://doi.org/10.1007/978-3-030-18449-0_8
• Ahmed, H. (2017). Taking Takaful to the Next Level. In Realising the Value Proposition of the Takaful Industry for a Stable and Inclusive Financial System. Islamic Financial Services Board and World Bank
• Ahmed, H., & Binmahfouz, S. (2015). Conventional Equity Mutual Fund Managers in Saudi Arabia. In M. Asutay, & A. Q. Turkistani (Eds.), Islamic finance: political economy, performance and risk. Volume 3, Performance and efficiency. Grelach Press
• Ahmed, H. (2015). Cooperation Council Countries. In M. Asutay, & A. Q. Turkistani (Eds.), Islamic finance: political economy, performance and risk. Volume 1, Political economy, values and innovation. Grelach Press
• Ahmed, H. (2014). Analytical tools of Islamic economics: choice and the equi-marginal principle. In M. K. Hassan, & M. K. Lewis (Eds.), Handbook on Islam and Economic Life (90-110). Edward Elgar Publishing
• Ahmed, H. (2013). Financial Inclusion and Islamic Finance: Organizational Formats, Products, Outreach and Sustainability. In Z. Iqbal, & A. Mirakhor (Eds.), Economic Development and Islamic Finance (203-229). The World Bank, Washington DC
• Ahmed, H. (2012). Organizational models of Islamic microfinance. In S. Nazim Ali (Ed.), Shari'a Compliant Microfinance (17-32). Routledge
• Ahmed, H. (2012). Waqfs. In H. K. Anheier, M. Juergensmeyer, & V. Faessel (Eds.), Encyclopedia of Global Studies. Sage Publications, Thousand Oaks
• Ahmed, H. (2011). Waqf-Based Microfinance: Realizing the Social Role of Islamic Finance. In M. Kahf, & S. M. Mahamood (Eds.), Essential Readings in Contemporary Waqf Issues. CERT, Kuala Lumpur
• Ahmed, H. (2009). The Methodology of Islamic Economics. In M. Siddiqi (Ed.), Encyclopedia of Islamic Economics, Principles, Definitions & Methodology (177-185). Yildiz A.S., Istanbul
• Ahmed, H., & Khan, T. (2007). 'Risk Management in Islamic Banking'. In M. K. Hassan, & M. K. Lewis (Eds.), Handbook on Islamic Banking. Edward Elgar Publishing
• Ahmed, H. (2006). 'Withdrawal Risk in Islamic Banks, Market Discipline and Bank Stability'. In T. Khan, & D. Muljawan (Eds.), Islamic Financial Architecture: Risk Management and Financial Stability (457-477). Islamic Research and Training Institute, Islamic Development Bank Group
• Ahmed, H. (2005). 'The Islamic Financial System and Economic Growth: An Assessment'. In M. Iqbal, & A. Ahmad (Eds.), Islamic Finance and Economic Development (29-48). Palgrave Macmillan
• Ahmed, H. (2002). 'Incentive Compatible Profit-Sharing Contracts: A Theoretical Treatment'. In M. Iqbal, & D. T. Llewellyn (Eds.), Islamic Banking and Finance: New Perspectives in Profit Sharing and Risk (40-54). Edward Elgar Publishing

Edited book

• Ahmed, H., & Hassan, Z. (Eds.). (2016). Macroeconomics from Islamic Perspectives: Theory and Contemporary Issues. Islamic Research and Training Institute
• Ahmed, H., Asutay, M., & Wilson, R. (Eds.). (2014). Islamic Banking and Financial Crisis: Reputation, Stability and Risks. Edinburgh University Press
• Ahmed, H., & Hoque, M. S. (Eds.). (2011). Handbook of Islamic Economics, Vol I, Exploring the Essence of Islamic Economics. Islamic Research & Training Institute, Islamic Development Bank Group, Jeddah
• Ahmed, H., & Iqbal, M. (Eds.). (2005). Poverty in Muslim Countries and the New International Economic Order. Palgrave Macmillan
• Ahmed, H. (Ed.). (2002). Theoretical Foundations of Islamic Economics. Islamic Research and Training Institute, Islamic Development Bank, Jeddah

Journal Article

• Ahmed, H. (online). Microtakaful: Financial inclusion and microtakaful
• Ahmed, H. (2024). Security tokens, ecosystems and financial inclusion: Islamic perspectives. International Journal of Islamic and Middle Eastern Finance and Management, 17(4), 730-745. https://doi.org/10.1108/IMEFM-04-2024-0195
• Elsayed, A. H., Ahmed, H., & Husam Helmi, M. (2023). Determinants of financial stability and risk transmission in dual financial system: Evidence from the COVID pandemic. Journal of International Financial Markets, Institutions and Money, 85, https://doi.org/10.1016/j.intfin.2023.101784
• AlQassar, A., & Ahmed, H. (2022). Regulatory Regimes for Shariah Governance: A Framework of Assessment and Analysis. Journal of Banking Regulation, 23(2), 139-154. https://doi.org/10.1057/s41261-021-00153-5
• Raouf, H., & Ahmed, H. (2022). Risk Governance and Financial Stability: A Comparative Study of Conventional and Islamic Banks in the GCC  . Global Finance Journal, 52, Article 100599. https://doi.org/10.1016/j.gfj.2020.100599
• Abdelsalam, O., Elnahass, M., Ahmed, H., & Williams, J. (2022). Asset Securitizations and Bank Stability:Evidence from Different Banking Systems. Global Finance Journal, 51, Article 100551. https://doi.org/10.1016/j.gfj.2020.100551
• Ahmed, H., & Abozaid, A. (2022). State Law and Shariah Compatibility: Methodological Overview and Application to Financial Laws. Manchester Journal of Transnational Islamic Law & Practice, 18(1), 123-139
• Ahmed, H., & Aassouli, D. (2022). Entrepreneurial finance, agency problems and Islamic ethics: complementarities and constraints. Venture Capital, 24, https://doi.org/10.1080/13691066.2022.2067017
• Hasan, A., Karbhari, Y., & Ahmed, H. (2021). Religious Governance, Regulation and Standardisation: Evidence from Malaysian Islamic Banks. International Journal of Business Governance and Ethics, 15(1), https://doi.org/10.1504/ijbge.2020.10028589
• Moqbel, T., & Ahmed, H. (2020). Flexibility and Shari'ah Compliance of Islamic Financial Contracts: An Evaluative Framework. Arab Law Quarterly, 35(1-2), 92-115. https://doi.org/10.1163/15730255-bja10052
• Ahmed, H., & Elsayed, A. (2019). Are Islamic and Conventional Capital Markets Decoupled? Evidence from Stock and Bonds/Sukuk Markets in Malaysia. The Quarterly Review of Economics and Finance, 74, 56-66. https://doi.org/10.1016/j.qref.2018.04.005
• Al Mannai, M., & Ahmed, H. (2019). Exploring the workings of Shari’ah Supervisory Board in Islamic finance: a perspective of Shari’ah scholars from GCC. The Quarterly Review of Economics and Finance, 74, 97-108. https://doi.org/10.1016/j.qref.2018.05.017
• Alziyadat, N., & Ahmed, H. (2019). Ethical Decision-Making in Islamic Financial Institutions in Light of Maqasid Al-Sharia: A Conceptual Framework. Thunderbird International Business Review, 61(5), 707-718. https://doi.org/10.1002/tie.22025
• Rizaldy, M., & Ahmed, H. (2019). Islamic legal methodologies and Shariah screening standards: application in the Indonesian stock market. Thunderbird International Business Review, 61(5), 793-805. https://doi.org/10.1002/tie.22042
• Ahmed, H., Ariffin, F., Karbhari, Y., & Shafii, Z. (2019). Diverse Accounting Standards on Disclosures of Islamic Financial Transactions: Prospects and Challenges of Narrowing Gaps. Accounting, Auditing and Accountability Journal, 32(3), 866-896. https://doi.org/10.1108/aaaj-10-2015-2266
• Basiruddin, R., & Ahmed, H. (2019). Corporate governance and shariah noncompliant risk in Islamic banks: Evidence from Southeast Asia. Corporate Governance, 20(2), 240-262. https://doi.org/10.1108/cg-05-2019-0138
• Ahmed, H., & Ibrahim, I. (2018). Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework. Journal of Consumer Policy, 41(2), 159-175. https://doi.org/10.1007/s10603-018-9369-0
• Ahmed, H., & Salleh, H. (2016). Inclusive Islamic Financial Planning: A Conceptual Framework. International Journal of Islamic and Middle Eastern Finance and Management, 9(2), 170-189. https://doi.org/10.1108/imefm-01-2015-0006
• Ahmed, H. (2015). Basel III liquidity requirement ratios and Islamic banking. Journal of Banking Regulation, 16(4), 251-264. https://doi.org/10.1057/jbr.2014.20
• Fauziah Nasution, R., & Ahmed, H. (2015). Outreach and Profitability Trade-off: Does Synergy between Islamic Banking and Islamic Microfinance Institutions Matter?. Indonesian Capital Market Review, 7(2), 57-73. https://doi.org/10.21002/icmr.v7i2.4853
• Kasri, R., & Ahmed, H. (2015). Assessing Socio-Economic Development based on Maqāṣid al-Sharīʿah Principles: Normative Frameworks, Methods and Implementation in Indonesia. Islamic Economic Studies, 23(1), 73-100. https://doi.org/10.12816/0012264
• Ahmed, H., & Mohammad, A. (2014). Debate on Tawarruq: Historical Discourse and Current Rulings. Arab Law Quarterly, 28(3), 278-294. https://doi.org/10.1163/15730255-12341282
• Ahmed, H. (2014). Islamic Banking and Shari’ah Compliance: A Product Development Perspective. Journal of Islamic Finance, 3(2), 15-29. https://doi.org/10.12816/0025102
• BinMahfouz, S., & Ahmed, H. (2014). Shariah Investment Screening Criteria: A Critical Review
• Masyita, D., & Ahmed, H. (2013). Why is Growth of Islamic Microfinance Lower than its Conventional Counterparts in Indonesia?. Islamic Economic Studies, 21(1), 35-62
• Ahmed, H. (2012). Islamic Law, Investors' Rights and Corporate Finance. Journal of Corporate Law Studies, 12 (2), 367-392. https://doi.org/10.5235/jcls.12.2.367
• Ahmed, H. (2012). The Islamization of Economies and Knowledge: A New Institutional Economics Perspective. The American journal of Islamic social sciences, 29(4), 22-45
• Ahmed, H. (2011). Maqasid al-Shari’ah and Islamic Financial Products: A Framework for Assessment. ISRA International Journal of Islamic Finance, 3(1), 149-160
• Ahmed, H. (2011). Risk Management Assessment Systems: An Application to Islamic Banks. Islamic Economic Studies, 19(1), 63-86
• Ahmed, H. (2011). Shar'iah Governance Regimes for Islamic Finance: Types and Appraisal -I regimi di governance conformi alla shari’ah nella finanza islamica: tipologia e valutazione. Economia Internazionale (Testo stampato), 64(4), 393-412
• Ahmed, H. (2010). Islamic Finance at a crossroads: the dominance of the asset-based sukuk. Butterworths journal of international banking and financial law, 25(6), 366-367
• Ahmed, H. (2009). 'Financial Crisis: Risks and Lessons for Islamic Finance'. ISRA International Journal of Islamic Finance, 1(1), 7-32
• Ahmed, H. (2008). 'Zakah, Macroeconomic Policies and Poverty Alleviation: Lessons from Simulation on Bangladesh'
• Ahmed, H., Hallwood, C. P., & Miller, S. M. (2008). The Exchange Rate Investment Nexus and Exchange Rate Instability: Another Reason for ‘Fear of Floating’
• Ahmed, H. (2006). 'Islamic Law, Adaptability and Financial Development'. Islamic Economic Studies, 13(2), 79-101
• Ahmed, H. (2004). 'Frontiers of Islamic Banking: A Synthesis of Social Role and Microfinance'. The European journal of management and public policy, 3(1), 120-140
• Ahmed, H. (2002). 'Financing Microenterprises: An Analytical Study of Islamic Microfinance Institutions'. Islamic Economic Studies, 9(2), 27-64
• Ahmed, H., & Miller, S. M. (2002). 'The Level of Development and the Determinants of Productivity Growth: A Cross-Country Analysis'. Applied Economics, 34, 1089-1095
• Ahmed, H., & Dua, P. (2001). Effects of Monetary Variables on Real Output: Sensitivity Analysis. Applied Economics Letters, 8, 65-69
• Ahmed, H., & Miller, S. M. (2000). Crowding-out and crowding-in effects of the components of government expenditure. Contemporary Economic Policy, 18(1), 124-133. https://doi.org/10.1111/j.1465-7287.2000.tb00011.x
• Ahmed, H. (1999). 'The Operating Format of Microfinance Schemes and the Core Poor under Persistent Shocks'
• Ahmed, H. (1998). 'Responses in Price and Output to Monetary Shocks and the Interest Rates: A Rational Expectations Model with Working Capital'. Economics Letters, 61, 351-58
• Ahmed, H., & Tongzon, J. (1998). An Investigation of Economic Linkages among ASEAN Group of Countries. ASEAN economic bulletin, 15(2), 121-36
• Ahmed, H., & Miller, S. M. (1997). 'Monetary and Exchange Rate Policies in Multisectoral Economies'
• Ahmed, H., & Randolph, S. (1995). Liquidity Constraints, Productivity, Employment, and Output: Evidence from Nonagricultural Activities in Bangladesh

Other (Print)

• Ahmed, H. (2013). Islamic Wealth Management: Goals and Instruments
• Ahmed, H. (2012). Defining Ethics in Islamic Finance: Looking Beyond Legality
• Ahmed, H. (2012). A different perspective on the financial crisis
• Ahmed, H. (2011). Waqf as a Sustainable Social Enterprise: Organisational Architecture and Prospects