Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir
Qualification:Ph.D. in Fiqh, Usul al-Fiqh and Islamic Finance, University of Malaya (UM) (2011)
Fields/Area of Specialization:Islamic Banking
Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir holds a Master in Shariah & Ph.D. in Fiqh, Usul al-Fiqh and Islamic Finance from University of Malaya (UM). Prior to joining INCEIF, he served International Islamic University Malaysia (IIUM) as an Associate Professor at Cluster of Islamic Accounting, Finance and Banking. He also served International Shari’ah Research Academy for Islamic Finance (ISRA) as a researcher and headed the Islamic Banking Unit. He has presented numerous research papers in local and international conferences and forums.

Content Distribution

ABSTRACTS VIEWS

240

VIEWS & DOWNLOAD

86

Top Country : Malaysia

Showing results 1 to 12 of 12
  • Bilateral_rebate_ibra_mutabadal_Islamic_banking_operation_critical_appraisal_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2016)

  • This study aims to examine the scholars' views on the legality of bilateral rebate in Islamic financial transactions. It also aims to evaluate the contemporary application of bilateral rebate in Islamic banking operation as an alternative to the conventional mechanism in handling the events of early settlement of debt, early termination of debt facility and early withdrawal of term deposit. The study used deductive and inductive methods to analyze the juristic literature of all the major schools of law on the legality of both bilateral and unilateral rebate in a financial transaction. The study found bilateral rebate (ibra' mutabadal), instead of unilateral rebate, to be the best and ...

  • The_Shari'ah_basis_for_imposition_fees_charges_Islamic_banking_products_services_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • This research is essentially intended to explore relevant Shari'ah principles that may underlie imposition of fees and charges in various lslamic banking products and services (IBPS). It also aims at constructing a Shari'ah parameter for imposition of fees and charges in IBPS. This is a library research in which data has been collected from various materials such as classical fiqh books, regulators' policy guidelines and journal articles. In addition, deductive and inductive rnethods have also been employed to analyze the data critically in search for conclusive findings. The expected outcomes of this research may be in the form of a Shari'ah-compliant guide for practitioners and indu...

  • Accounting_issues_reporting_profit sharing_investment_accounts_Fairooz et al.pdf.jpg
  • Journal Article


  • Authors: Rosman, Romzie; Abdul Khir, Mohamed Fairooz; Mohd Saat, Nur Ashikin; Abdul Rahman, Abdul Rahim (2015)

  • Issues in the reporting of Islamic financial instruments have been discussed since early 2000. Among these issues is the debate about whether the accounting standards promulgated by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) or the International Financial Reporting Standards (IFRS) should be adopted for reporting Islamic financial transactions. Abdel Karim (2001) explained the need to implement the AAOIFI accounting standards as these standards specifically cater for the unique characteristics of the contracts that govern the operations of Islamic banks. The IFRS, on the other hand, do not have any specific reporting standards for the unique c...

  • The_concept_actual_financial_loss_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • As a financial intermediary, an Islamic financial institution's (IFI) efficiency in liquidity management is determined by its financing to deposit ratio which is calculated as the amount of the respective IFI's financing divided by the amount of its deposits at any given time. The higher the ratio, the more the IFI is said to be utilising the funds and the more the bank is deemed efficient, provided that its cost of operation is managed efficiently. Most deposits need to be paid back to the depositors in a certain period of time, depending upon the types of deposit. To generate assets, an IFI usually provides Islamic financing facilities from these much shorter maturity funds (deposit...

  • ISRA_Bloomberg_quarterly_sukuk_review_Q2_2015_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Pg. Sulaiman, Ak. Muhd. Fahmi (2015)

  • A summary of some Q2 2015 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Hong Kong Sukuk 2015 Ltd, Jambatan Kedua Sdn Bhd, Garuda Indonesia Global Sukuk Limited, Noor Sukuk Company Ltd, and Perusahaan Penerbit SBSN Indonesia III.

  • Shariah_perspective_gold_Fairooz.pdf.jpg
  • Industry Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • The Quran confirms that gold as a currency is desired by all of mankind due to its inherent nature of purchasing power and store of value that enables mankind to gain ownership. Al-Razi in his commentary on Chapter Ali-Imran, verse 14 stated that, "the owner of gold and silver are the owner of everything." Recently, there has been an increasing demand for gold as it continues to display its positive stable qualities that qualifies it as a risk management tool, particularly during adverse financial markets scenarios. According to the latest Gold Demand Trends annual report from the World Gold Council (WGC), gold demand in Q4 2014 increased by 6% as compared to that in Q4 2013. In addit...

  • ISRA_Bloomberg_quarterly_sukuk_review_Q3_2014_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Hussin, Nur Najihah (2014)

  • A summary of some Q3 2014 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Bumi Armada Capital Sdn Bhd, Bumitama Agri Ltd, Hong Kong Sukuk 2014 Limited, Perusahaan Penerbit SBSN Indonesia III, and Perbadanan Tabung Pendidikan Tinggi Nasional.

  • Actual_costs_fees_and_charges_Islamic_banking_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2014)

  • A bank is a financial intermediary that generates income from its fund-based and fee-based products and services. As for the former, the bank has to share the profits with parties from whom it sources funds such as depositors and shareholders to provide financing facilities for its customers. Unlike its fund-based products and services, the bank can recognise any profit generated from its fee-based products and services solely as its own income without having to share it with other parties as it does not utilise others' money in offering such products and services.

  • Critical_appraisal of rahn-based Islamic microcredit facility from Shari’ah_perspective_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz; Badri, Mohd Bahroddin; Hussain, Lokmanulhakim (2013)

  • The rahn-based Islamic microcredit facility is currently popular among Islamic financial institutions in Malaysia, essentially because of its commercial features, which make it attractive and competitive with conventional pawnbroking. However, the substance of this product triggers some Shari`ah issues, which are mainly centred on the safekeeping fee the bank charges the customer under the principle of ijarah al-hifz (safekeeping fee) and wadi`ah yad al-damanah (guaranteed safe custody). This paper is primarily intended to examine the key Shari`ah issues associated with the structure that is widely accepted at present. It undertakes a case study of two selected Islamic banks that offe...

  • item.jpg
  • Research Monograph


  • Authors: Abdul Khir, Mohamed Fairooz (2012)

  • The concept of the time value of money (TVM) has been well accepted and widely applied in the conventional financial system for a very long time. However, Islamic scholars hold differing views regarding its conceptual and practical foundation in the Islamic financial system. The opponents of TVM have argued that recognizing it will lead to acceptance of riba, against which Islam is at war. This may, however, be a hasty judgment. Islam does not reject any concept that aligns with its teaching, promotes justice among people and secures their interests, particularly in financial transactions. The concept of TVM establishes that time can be given a counter-value in association with real c...

  • Revisiting_fiqh_characterisations_rahn-based_Islamic_microcredit_product_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2011)

  • The rahn-based Islamic microcredit product is an increasingly popular financing option among small entrepreneurs, lower income groups and gold traders. However, its Shari'ah structure has been sharply criticised by some Islamic scholars despite its success for those who offer it such as Islamic banks and Islamic pawnshops. Hence, it is undeniable that there are some debatable Shari'ah issues that need further examination and immediate solution. This situation is most likely a result of using the contract of rahn (pledge) in an income-generating product, which obviously contravenes the fundamental purpose of rahn. In fact, rahn is merely a security contract ('aqd al-tawthiq) that serve...

Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir
author picture
Qualification: Ph.D. in Fiqh, Usul al-Fiqh and Islamic Finance, University of Malaya (UM) (2011)
Fields/Area of Specialization: Islamic Banking
Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir holds a Master in Shariah & Ph.D. in Fiqh, Usul al-Fiqh and Islamic Finance from University of Malaya (UM). Prior to joining INCEIF, he served International Islamic University Malaysia (IIUM) as an Associate Professor at Cluster of Islamic Accounting, Finance and Banking. He also served International Shari’ah Research Academy for Islamic Finance (ISRA) as a researcher and headed the Islamic Banking Unit. He has presented numerous research papers in local and international conferences and forums.
Showing results 1 to 12 of 12
  • Bilateral_rebate_ibra_mutabadal_Islamic_banking_operation_critical_appraisal_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2016)

  • This study aims to examine the scholars' views on the legality of bilateral rebate in Islamic financial transactions. It also aims to evaluate the contemporary application of bilateral rebate in Islamic banking operation as an alternative to the conventional mechanism in handling the events of early settlement of debt, early termination of debt facility and early withdrawal of term deposit. The study used deductive and inductive methods to analyze the juristic literature of all the major schools of law on the legality of both bilateral and unilateral rebate in a financial transaction. The study found bilateral rebate (ibra' mutabadal), instead of unilateral rebate, to be the best and ...

  • The_Shari'ah_basis_for_imposition_fees_charges_Islamic_banking_products_services_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • This research is essentially intended to explore relevant Shari'ah principles that may underlie imposition of fees and charges in various lslamic banking products and services (IBPS). It also aims at constructing a Shari'ah parameter for imposition of fees and charges in IBPS. This is a library research in which data has been collected from various materials such as classical fiqh books, regulators' policy guidelines and journal articles. In addition, deductive and inductive rnethods have also been employed to analyze the data critically in search for conclusive findings. The expected outcomes of this research may be in the form of a Shari'ah-compliant guide for practitioners and indu...

  • Accounting_issues_reporting_profit sharing_investment_accounts_Fairooz et al.pdf.jpg
  • Journal Article


  • Authors: Rosman, Romzie; Abdul Khir, Mohamed Fairooz; Mohd Saat, Nur Ashikin; Abdul Rahman, Abdul Rahim (2015)

  • Issues in the reporting of Islamic financial instruments have been discussed since early 2000. Among these issues is the debate about whether the accounting standards promulgated by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) or the International Financial Reporting Standards (IFRS) should be adopted for reporting Islamic financial transactions. Abdel Karim (2001) explained the need to implement the AAOIFI accounting standards as these standards specifically cater for the unique characteristics of the contracts that govern the operations of Islamic banks. The IFRS, on the other hand, do not have any specific reporting standards for the unique c...

  • The_concept_actual_financial_loss_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • As a financial intermediary, an Islamic financial institution's (IFI) efficiency in liquidity management is determined by its financing to deposit ratio which is calculated as the amount of the respective IFI's financing divided by the amount of its deposits at any given time. The higher the ratio, the more the IFI is said to be utilising the funds and the more the bank is deemed efficient, provided that its cost of operation is managed efficiently. Most deposits need to be paid back to the depositors in a certain period of time, depending upon the types of deposit. To generate assets, an IFI usually provides Islamic financing facilities from these much shorter maturity funds (deposit...

  • ISRA_Bloomberg_quarterly_sukuk_review_Q2_2015_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Pg. Sulaiman, Ak. Muhd. Fahmi (2015)

  • A summary of some Q2 2015 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Hong Kong Sukuk 2015 Ltd, Jambatan Kedua Sdn Bhd, Garuda Indonesia Global Sukuk Limited, Noor Sukuk Company Ltd, and Perusahaan Penerbit SBSN Indonesia III.

  • Shariah_perspective_gold_Fairooz.pdf.jpg
  • Industry Article


  • Authors: Abdul Khir, Mohamed Fairooz (2015)

  • The Quran confirms that gold as a currency is desired by all of mankind due to its inherent nature of purchasing power and store of value that enables mankind to gain ownership. Al-Razi in his commentary on Chapter Ali-Imran, verse 14 stated that, "the owner of gold and silver are the owner of everything." Recently, there has been an increasing demand for gold as it continues to display its positive stable qualities that qualifies it as a risk management tool, particularly during adverse financial markets scenarios. According to the latest Gold Demand Trends annual report from the World Gold Council (WGC), gold demand in Q4 2014 increased by 6% as compared to that in Q4 2013. In addit...

  • ISRA_Bloomberg_quarterly_sukuk_review_Q3_2014_Fairooz et al.pdf.jpg
  • Industry Article


  • Authors: Mohamad, Shamsiah; Abdul Khir, Mohamed Fairooz; Azrak, Tawfik; Hussin, Nur Najihah (2014)

  • A summary of some Q3 2014 sukuk issuances are presented along with ISRA's views on the sukuk tradability, transaction flow and shariah compliance. The following sukuk are reviewed from Bumi Armada Capital Sdn Bhd, Bumitama Agri Ltd, Hong Kong Sukuk 2014 Limited, Perusahaan Penerbit SBSN Indonesia III, and Perbadanan Tabung Pendidikan Tinggi Nasional.

  • Actual_costs_fees_and_charges_Islamic_banking_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2014)

  • A bank is a financial intermediary that generates income from its fund-based and fee-based products and services. As for the former, the bank has to share the profits with parties from whom it sources funds such as depositors and shareholders to provide financing facilities for its customers. Unlike its fund-based products and services, the bank can recognise any profit generated from its fee-based products and services solely as its own income without having to share it with other parties as it does not utilise others' money in offering such products and services.

  • Critical_appraisal of rahn-based Islamic microcredit facility from Shari’ah_perspective_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz; Badri, Mohd Bahroddin; Hussain, Lokmanulhakim (2013)

  • The rahn-based Islamic microcredit facility is currently popular among Islamic financial institutions in Malaysia, essentially because of its commercial features, which make it attractive and competitive with conventional pawnbroking. However, the substance of this product triggers some Shari`ah issues, which are mainly centred on the safekeeping fee the bank charges the customer under the principle of ijarah al-hifz (safekeeping fee) and wadi`ah yad al-damanah (guaranteed safe custody). This paper is primarily intended to examine the key Shari`ah issues associated with the structure that is widely accepted at present. It undertakes a case study of two selected Islamic banks that offe...

  • item.jpg
  • Research Monograph


  • Authors: Abdul Khir, Mohamed Fairooz (2012)

  • The concept of the time value of money (TVM) has been well accepted and widely applied in the conventional financial system for a very long time. However, Islamic scholars hold differing views regarding its conceptual and practical foundation in the Islamic financial system. The opponents of TVM have argued that recognizing it will lead to acceptance of riba, against which Islam is at war. This may, however, be a hasty judgment. Islam does not reject any concept that aligns with its teaching, promotes justice among people and secures their interests, particularly in financial transactions. The concept of TVM establishes that time can be given a counter-value in association with real c...

  • Revisiting_fiqh_characterisations_rahn-based_Islamic_microcredit_product_Fairooz.pdf.jpg
  • Journal Article


  • Authors: Abdul Khir, Mohamed Fairooz (2011)

  • The rahn-based Islamic microcredit product is an increasingly popular financing option among small entrepreneurs, lower income groups and gold traders. However, its Shari'ah structure has been sharply criticised by some Islamic scholars despite its success for those who offer it such as Islamic banks and Islamic pawnshops. Hence, it is undeniable that there are some debatable Shari'ah issues that need further examination and immediate solution. This situation is most likely a result of using the contract of rahn (pledge) in an income-generating product, which obviously contravenes the fundamental purpose of rahn. In fact, rahn is merely a security contract ('aqd al-tawthiq) that serve...