Dr Zaki Ahmad

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• Doctor of Philosophy (Finance and Banking)
• Researcher at Northern University of Malaysia

This study examines the role of financial inclusiveness in explaining the relationship between remittances and economic growth in developing countries. Using panel data for 79 countries from 2011 to 2021, the study employed Random Effects (RE), Fixed Effects (FE), and Generalized Method of Moments (GMM) to estimate how remittances influence Gross d...

The present study aims to compute the level of financial inclusiveness in MENA region countries, considering the three fundamental dimensions that impact financial inclusion: depth, accessibility, and usage of financial services. Moreover, this article incorporates digital payments-related indicators, credit and debit cards, total borrowers, savers...

The implementation of Islamic finance has become one of the main instruments in improving economic welfare among Muslim communities. However, challenges such as low Islamic financial literacy and limited access to financial services still hinder the optimization of this system. The purpose of this research is to examine the impact of Islamic financ...

The goal of this study is to evaluate the relationship between corporate social responsibility disclosure and financial performance (Return on Equity and Tobin’s Q) in Halal food companies. The sample consists of 75 listed Halal food companies on the Bursa Malaysia Stock Exchange for the period between 2012 and 2021. Based on the empirical results...

In the context of the global health crisis and economic downturn, ASEAN nations experienced a significant rise in public debt, highlighting the need to examine key economic determinants for sustainable debt management. This study investigates the impact of budget balance, real interest rate, current account balance, and GDP growth on public debt in...

The research highlights a limited understanding of Maqasid al-Shariah and financial management principles among the rural community, coupled with inadequate digital and financial literacy. Economic hardships, lack of access to modern financial tools, and insufficient emphasis on long-term planning hinder their ability to achieve financial stability...

This research investigates the impact of Artificial Intelligence (AI), represented by Chat Generative Pre-Trained Transformer (ChatGPT), in the domains of endowment management and investment. By leveraging AI tools like ChatGPT, investment professionals and endowment managers gain access to innovative capabilities in data analysis, predictive analy...

With growing concerns about environmental degradation and its impact on global ecosystems, the Halal food industry is facing increasing scrutiny and pressure to adopt sustainable practices. This research examines the relationship between green sustainability and the financial performance of Halal food companies in Malaysia. Applying a dynamic panel...

With increasing global emphasis on sustainability, corporate transparency in ESG practices has become a critical factor for investors and stakeholders. This study investigates the impact of Environmental, Social, and Governance (ESG) disclosures on the financial performance of listed companies in ASEAN countries. This research employs a dynamic Gen...

The rapid evolution of financial technology (fintech) has redefined the global financial landscape, playing a key role in promoting financial inclusion and sustainability, particularly in emerging markets. This study explores the impact of fintech innovations on financial sustainability by focusing on four key factors: financial inclusion, operatio...

This study investigates the relationship between Artificial Intelligence (AI) and environmental sustainability, focusing on how AI-driven resource efficiency, energy consumption, environmental monitoring, and carbon emission reduction contribute to sustainability outcomes. The purpose of this research is to examine the dual nature of AI's impact on...

The research aims to identify the use of artificial intelligence applications as a pivotal technology to improve the quality of financial reports in UAE Corporations, as these applications help process and analyze data quickly and accurately. the problem of the study was the lack of confidence and credibility in the quality of financial reports in...

This research explores economic growth dynamics in five ASEAN countries (1980–2020), analyzing the short and long-term impact of financial development (FD), oil prices, investment (INV), and inflation on GDP growth. Panel ARDL analysis reveals a transient positive link between FD and long-term GDP growth, necessitating a holistic approach for short...

This study investigates the critical issues surrounding the accounting treatment of Murabaha and Tawarruq within the scope of Islamic finance. It aims to propose recommendations for augmenting the Islamic financial accounting standards, thereby aligning them with Shariah principles and ensuring their practicality and relevance in financial reportin...

global Islamic finance industry has experienced significant growth in recent years, establishing Islamic financial institutions (IFIs) as prominent players in the international financial landscape. To maintain competitiveness and sustainability, IFIs must embrace innovation and explore avenues for maximising their performance. This research aims to...

In the dynamic landscape of the halal industry, the blending of lifelong learning and technology stands as a transformational force. This chapter explores the crucial role of continuous learning in equipping halal industry professionals with the skills and knowledge essential for thriving in the digital age. It explores the integration of cutting-e...

The objective of this study is to examine the impact of the digital financial inclusion index on Gross National Income per Capita in upper-income countries. Using the Principal Components Analysis (PCA) method, the study has constructed a digital financial inclusion index with the data collected from the World Development Indicator for the years 20...

The purpose of this study is to examine the impact of corporate social responsibility (CSR) disclosure on the profitability and firm performance of Halal food companies in Malaysia. Applying a quintitative method, the study utilised a dynamic GMM-based statistical technique for analysing the data from 75 public-listed Halal food companies in Malays...

Cash Waqf has gained acceptability in Malaysia, with the Malaysian National Fatwa Council issuing a fatwa allowing cash Waqf in 2007. Waqf is seen as a strong instrument that could help Malaysia's poverty problems. Waqf management in Malaysia has to be strengthened and revitalized, nevertheless. The goal of this study to provide a technology-based...

Anticipating a significant rise to 27% of the global population by 2030, the halal industry is garnering noteworthy attention worldwide. This study provides a comprehensive investigation of halal industrial players with the elements of products and the United States' regulatory landscape. It aims to scrutinize the hurdles faced by the halal industr...

This study examines Malaysia's crucial role in the global Halal market, focusing on stakeholder perspectives, product analyses, and policy evaluations. Interviews with key industry players and coupled with a phone interview reveal diverse insights. Stakeholders emphasize the industry's commitment to producing lawful consumer goods and highlight cha...

The study examines the relationships between energy consumption and a range of key economic determinants within the ASEAN-5 countries spanning four decades from 1980 to 2020. Utilizing robust regression analysis, it explores the complex dynamics linking energy consumption to economic growth, inflation rate, financial development, and total populati...

Gross domestic saving (GDS) is important for all countries to achieve steady economic growth. It shows how much money a country saves, which boosts investor confidence and attracts foreign investment. The current study aims to analyse the relationship between GDS and four other determinants, which are energy consumption, gross domestic product (GDP...

Over the past four decades, Malaysia has created a progressive and sophisticated Islamic financial market. Islamic financial institutions represent the largest segment, with total assets valued at US$4 trillion and projected to increase to US$5.9 trillion by 2026. While the industry's extraordinary expansion is an important indicator of progress, m...

The study proposes a modified microfinance model for Islamic banks (IBs) existing in Pakistan under worldwide accepted Shariah practice. The study is based on an in-depth review of microfinance literature with the ultimate objective of establishing a rationale model for Islamic banking to take part in a microfinance effort. The suggested framework...

The world is currently experiencing a significant demographic shift characterised by a rapidly increasing ageing population. This phenomenon is primarily a result of improved healthcare and reduced birth rates, leading to an unprecedented rise in the proportion of older individuals in society. The rapid growth in the ageing population is expected t...

The aim of this paper is to investigate how the takaful industry can address the issue of technological advancement. Furthermore, to explore the way by which takaful operators can compete with fintech insurers as well as in which areas takaful operators should focus on to innovate, e.g., technology or products, Additionally, to find out if there ar...

This article examines the relationship between positive parenting practices and heightened academic achievements and improved behavioural stability in children. This exploration underscores the pivotal role of parental practices in shaping a child's academic disposition and overall behavior within educational contexts. Examining this dimension with...

The World Englishes paradigm highlights the linguistic diversity of the global language, embracing the dynamic interplay between language, culture, and Indian society. This paradigm rejects the notion of a unified standard, embracing cultural diversity and the coexistence of English and local languages. Each variety of World English has its own voc...

An Overview of Economic Growth in the Era of Digitalization

The aim of this paper is to investigate the differences between the contemporary Shariah governance frameworks of Malaysia and Pakistan. The study also examines the ways in which the Shariah governance frameworks of both countries can complement each other. This research concludes that the SGF principles of both countries under discussion abide by...

Bitcoin is one of the most successful cases of blockchain use. The objective of this paper is to examine the characteristics of cryptocurrencies, with a specific emphasis on bitcoin. The fundamental attributes, features of bitcoin and how they operate on blockchain are evaluated from the Shariah perspective to determine if they are consistent with...

Demand for Takaful products is increasing due to increased awareness of financial risks; the total number of certificates in force in 2022 was 6.63 million, an increase from the 6.07 million certificates in 2021. In addition, there was a total of 1.31 million new business certificates given in the year 2022, representing a 15.6% increase over the 1...

The molecular recognition of a particular DNA target is essential not only for the development of new drugs, forensic research, and medical diagnostics but also for Halal authentication. Halal food products are those that are prepared in accordance with Islamic Shariah law while also being hygienic. Food safety plays an essential role in determinin...

The aim of this paper is to understand the practical application of investment and deposit products in comparison with the guidelines offered by the Islamic Financial Services Act (IFSA). Here, the products’ features and benefits of the banks’ deposit and investment products are highlighted. A performance analysis of both products is conducted amon...

The capital market is a financial market that links buyers and sellers to trade stocks, bonds, currencies and otherfinancial assets. It permits the free flow of cash and capital and their routing to areas where they can be utilized mosteffectively. Reinsurers' access to capital markets dictates the overall reinsurance capacity, and insurance compan...

Importers prefer to pay upon the receipt of products and exporters prefer to be paid upon product shipment. In such scenarios, it is crucial that both parties have a trustworthy business relationship. The first option is to have an open credit arrangement. This usually requires longstanding trade relationships and robust creditworthiness. Secondly,...

Tawarruq which is also known as commodity Murabahah in Islamic banking is widely practiced in Malaysia to structure different types of Islamic banking products. The widespread use of tawarruq has made Islamic banks to be re-named as “tawarruq banks” and some even call tawarruq as the “magic lamp” of the industry. Shariah scholars have criticised th...