Asst. Prof. Dr. Ziyaad Mahomed
Qualification:Phd (Islamic Finance), INCEIF
Fields/Area of Specialization:Associate Dean/Director, Executive Education & E-Learning
Asst. Prof. Dr. Ziyaad Mahomed is an Associate Dean/Director for INCEIF's Executive Education & E-Learning. He is also the Chairman of the Shariah Board of HSBC Amanah Malaysia and serves on a number of Shariah boards internationally. He is a multi-award-winning Scholar with almost 20 years of global experience as an executive, consultant and Islamic Scholar in Islamic finance and capital markets. Dr Ziyaad has consulted/trained more than 7,000 Finance Professionals and Islamic Scholars in most disciplines within the Islamic Finance sector in Africa, Europe and the Middle East. He intends to focus on Islamic social finance, Shariah issues & innovation, fintech and Sukuk, amongst other research areas.

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Showing results 1 to 20 of 20
  • connecting_people_through_ICM.pdf.jpg
  • Academic Presentation


  • Authors: Mahomed, Ziyaad (2017)

  • The slides highlight: 1) an overview of the Islamic capital market (ICM); 2) how does the ICM connect people; 3) advantages of ICM regulatory development.

  • crypto_mania_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad; Ramadili Mohd, Shamsher Mohamad (2017)

  • The 17th century was witness to the Dutch Golden Age, the leading global economic power at the time. It was also the period of what was soon after referred to as 'Tulip Mania' for what is considered the first recorded speculative bubble that collapsed in 1637. Many analysts find a stark similarity between tulip mania and the dramatic rise of the cryptocurrency value in 2017. Tulip bulbs became fashionable status symbols, and although having weak fundamentals, reached exorbitant prices. Bitcoin's dramatic 1,500% increase in 2017 alone, attracted a significantly large group of speculative investors to benefit from what many see as an unhinged gamble on what has gained popularity, not on...

  • Financial_innovation_and_riding_the_Fintech_wave_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad; Ramadili Mohd, Shamsher Mohamad (2016)

  • Recent success in the technology sector has witnessed the transformation of start-up companies with relatively small or no seed capital into billion-dollar companies within a very short-space of time. The application of technology in the financial sector has 'disrupted' the traditional "brick-and-mortar" style distribution channels and if not embraced would cause the current financial sector to lose a substantial (estimated between 20 to 40%) portion of their businesses to the firms using 'fintech'.

  • Future_insights_for_Islamic_finance_ziyaad.pdf.jpg
  • Industry Article


  • Authors: Mahomed, Ziyaad (2017)

  • The global Islamic banking and finance industry has been growing consistently notwithstanding the periodic shocks and turbulence economic conditions in various parts of the world. However, looking ahead, what would ensure the growth of the industry and maintain its value proposion? We consider some of these emerging trends. Arguably, the two most significance trends in the financial service space have been the rise of advanced financial technology and the buzz on the "green economy" or sustainable financing.

  • chapter_4_islamic_banking_business_of_conventional_banks_Shamsher_Ziyaad_Nazrol.jpg.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad; Mustaffa Kamil, Nazrol Kamil (2017)

  • Globally, Islamic banking grew by a compound annual growth rate of 17.3 percent between 2009 and 2014. The estimated size of the industry at the end of 2014 was given at US$2.1 trillion. This total follar value of assets held by the Islamic financial institutions is less than 2 percent of the conventional banking industry; nonetheless, this is a huge achievement, considering it started from a zero base in the 1970s (Ernst & Young, 2013). Through the rate of growth has declined in recent years, the industry has nevertheless managed to grow by more than 15 percent even during the 2009 global crisis, whereas the overall banking assets remained static and economic growth in almost all cou...

  • chapter 7_islamic capital market_sukuk_ziyaad.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad (2017)

  • Sukuk are certificates of equal value that represent ownership in tangible assets, usufruct and services, and equity of identified project (AAOIFI, FAS 17 (2010)). They present undivided pro rata ownership of underliying assets (Securities Commission Malaysia, 2011). While sukuk are generally taken to be the counterpart of bonds, they differ from conventional bonds in six basic aspects (Ariff et al., 2012). This chapter explains the sukuk structure and its changing forms. Then, the chapter turns to the discussion of sukuk, capital structure and value of the firm. Before providing a conclusion. issues and challenges faced by the sukuk market are deliberated. Available in physical co...

  • islamic_finance_insolvencies.pdf.jpg
  • Chapter in Book


  • Authors: Zada, Najeeb; Lahsasna, Ahcene; Mahomed, Ziyaad; Saleem, Muhammad Yusuf (2017)

  • Like many other financial institutions, Bahrain-based Arcapita Bank operating in the United States was hit hard by the Eurozne crisis that followed the global financial crisis. Unable to restructure its $1.1 billion debt obligations due in March 2013, the bank decided to file for Chapter 11 protection in the US Bankruptcy Court. This case study introduces Arcapita and its operations, explains the US Chapter 11 and its important aspects like debtor in possession (DIP) financing, highlights the most significant episodes of the Arcapita case, and concludes with important lessons embedded in the proceedings. Available in physical copy only (Call Number: HG 3368 A6 I82Na)

  • CIAWM_Issue3_islamic_social_finance_investment_imperative_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2017)

  • The rapid growth of global Islamic wealth and asset management has contributed to the establishment of a niche market based on the Islamic finance paradigm of interest-free, transparent, profit and loss sharing and mutually beneficial contracts. However, Islamic wealth and finance has been criticized for converging into conventional practices rather than its core principles of socio-economic empowerment and justice. The capitalist attributes of profit maximization without the ethical and moral boundaries has pervaded this industry that was supposed to espouse the ethical and socio-economic tenets as its value prepositions for its future growth and survival. There is an emerging trend ...

  • Islamic_social_finance_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2017)

  • The consistent growth of the global Islamic banking and finance has provided a niche market with solutions and financial inclusion through a well-defined Islamic ethos. Unfortunately, Islamic finance has been criticised for having diverted from its core principles of socio-economic empowerment and upliftment. As in mainstream interest-based finance, Islamic financing and advances rely on the customers' credit-worthiness and the ability to repay, inevitably supporting those with good credit standing to improve their financial status. But, how has Islamic finance improved the lot of the downtrodden? What about the ethical, socio-economic tenets that Islamic finance has so vociferously e...

  • item.jpg
  • Newsletter & Bulletin


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad (2017)

  • Islam has a unique dispensation on the concept of wealth, its ownership and distribution. Wealth is not regarded as an end per se, but a means to an end: the end being the paradise in the hereafter. Essentially, material possessions are considered the primary form of weakth, perceived to be generated, accumulated and/or invested by the one who acquired it. Inclusively, wisdom, knowledge, salvation and even contentment can all be categorized as wealth. From the Islamic perspective, Allah (to Him be Praise) is the true owner of all wealth and He entrusts it to man for beneficial use (Quran 20:6). Therefore, a Muslim is required to earn and invest wealth in Islamically permissibale metho...

  • Malaysia_global_hub_for_fund_administration.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad (2017)

  • The last decade has witnessed significant growth of fund management companies in the Southeast Asian region, and Malaysia has shown immense potential in this area. The expansion of the middle income class, outstanding talent and abundant natural resources have contributed to this growth. Despite significant developments in the recent past, the mutual fund industry in Malaysia is relatively small compared with other market in Malaysia, particularly in the area of Islamic fund administration, requires a comprehensive financial ecosystem that is globally competitive.

  • The_resurgence_of_Islamic_social_finance_Ziyaad.pdf.jpg
  • Industry Article


  • Authors: Mahomed, Ziyaad (2017)

  • The consistent growth of the global Islamic banking and finance has provided a niche market with solutions and financial inclusion through a well-defined Islamic ethos. Unfortunately, Islamic finance has been criticised for having diverted from its core principles of socio-economic empowerment and upliftment. As in mainstream interest-based finance, Islamic financing and advances rely on the customers' credit-worthiness and the ability to repay, inevitably supporting those with good credit standing to improve their financial status. But, how has Islamic finance improved the lot of the downtrodden? What about the ethical, socio-economic tenets that Islamic finance has so vociferously e...

  • Sukuk_and_its_wealth_effect_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2016)

  • Classical corporate finance theory considers capital market behavior crucial to understanding how to maximize firm value and shareholder wealth. How this is achieved has been debated extensively over the last century. It stands to reason though, that maximizing firm value requires effective investment decisions which in turn necessitates a valuable source of capital. This capital can be provided either internally or externally, each influencing the risk of the firm and initiating varied wealth effects.

  • IF_Hub_Issue_2_Sukuk_announcement_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2017)

  • Capital market behavior and the effects of varying sources of capital on share price has long intrigued finance theorists (Brown & Warner, 1980) and the choice of conventional capital market instruments based on investor reaction, has been researched extensively (Abdul Rahim, 2012). Profit-driven firms focus on profit maximization and the creation of shareholder wealth. However, opting for internal funds over public fund-raising has been shown to signal quality to the market, thereby affecting overall company value (Ross, 1977). The introduction of Sukuk instruments since 2001 has also influenced market reaction (Ashhari et al., 2009). Therefore, we investigate the effects of Sukuk an...

  • Sukuk_announcement_effects_during_financial_crisis_the_case_for_Indonesia_ziyaad_et_al.pdf.jpg
  • Journal Article


  • Authors: Mahomed, Ziyaad; Ramadili Mohd, Shamsher Mohamad; Ariff, Mohamed (2018)

  • The effects of capital-raising announcements have long been used as an indicator of increased shareholder wealth (Brown and Warner, 1985). Studies on bond announcements, for example, have been largely inconclusive. However, when effects are measured based on bond underlying structure, 'straight and convertible bonds', then the results are more conclusive (Abdul Rahim, 2012). Furthermore, issuances around crisis period are expected to result in negative market reaction as investors prefer liquidity (Fenn, 2000). Sukuk are bond-like instruments that are issued based on the Sharia guidelines and perceived to be less risky due to their risk sharing attribute. Sukuk are issued by the gover...

  • Wealth_effect_of_sukuk_issuance_announcement_in_two_markets_ziyaad_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This chapter is written with a view to explain how stock prices react to the issuance of a new kind of debt instrument (the sukuk debt certificates) in two stock markets in the period 2001-15. The existing classical corporate finance theory considers share prices' response to capital issuances to be crucial to any understanding on how to maximize the firm value and thus the shareholder wealth. How this is achieved has been debated extensively and deliberated elaborately by academics over six decades. It stands to reason, though, that maximizing firm value requires effective investment decisions which in turn necessitates access to a valuable source of capital.

  • PhD_wealth_effects_corporate_sukuk_announcements_Ziyaad_Mahomed.pdf.jpg
  • PhD


  • Authors: Mahomed, Ziyaad (2016)

  • This thesis evaluates the wealth effects of corporate Sukuk issuances, based on specific sample traits, for the three largest issuing countries: Malaysia, Indonesia and Saudi Arabia. The sample traits include underlying structure, size of issuance and tenor. Previous studies are inconclusive and relate mainly to Malaysian firms only. This could be attributed to the failure to incorporate the effects of Sukuk types, properly identified crisis period effects and market differences ... Available in physical copy and downloadable format (Call Number: t HG 4651 M216)

  • Zakat_in_Islamic_wealth_management_ziyaad.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad (2017)

  • The common understanding of investments is to manage wealth such that there is wealth increase with rare losses of the starting value to compensate wealth holders (i) against inflation via risk-free return and (ii) plus a risk premium for the risk of the investment. It thus has the twin objectives of growth in wealth and preservation of wealth. This is achieved by means of a planned strategy that defines the goals of the investor. Wealth management includes the following: to achieve maximum growth with minimal risk (or maximum growth for a target level of risk); to manage risk as far as is possible to minimise taxation and other costs to receive a consistent income; to have a consiste...

  • Zakat_Islamic_wealth_management_wealth_effects_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2016)

  • The purification of wealth through charity is considered a significant part of the trusteeship of wealth or wealth management. In the Quranic verses 17:26-27 & 29-30, Almighty Allah clarifies the right that the deserving and the needy have over the wealth entrusted to man, further instructing that these rights be fulfilled as a financial obligation. For example, hoarding excessive wealth (wealth that is not invested) is actually irrational as zakat is charged on all financial and real assets, resulting in a negative rate of return (zakat rate) Al-Jarhi (1985).

Asst. Prof. Dr. Ziyaad Mahomed
author picture
Qualification: Phd (Islamic Finance), INCEIF
Fields/Area of Specialization: Associate Dean/Director, Executive Education & E-Learning
Asst. Prof. Dr. Ziyaad Mahomed is an Associate Dean/Director for INCEIF's Executive Education & E-Learning. He is also the Chairman of the Shariah Board of HSBC Amanah Malaysia and serves on a number of Shariah boards internationally. He is a multi-award-winning Scholar with almost 20 years of global experience as an executive, consultant and Islamic Scholar in Islamic finance and capital markets. Dr Ziyaad has consulted/trained more than 7,000 Finance Professionals and Islamic Scholars in most disciplines within the Islamic Finance sector in Africa, Europe and the Middle East. He intends to focus on Islamic social finance, Shariah issues & innovation, fintech and Sukuk, amongst other research areas.
Showing results 1 to 20 of 20
  • connecting_people_through_ICM.pdf.jpg
  • Academic Presentation


  • Authors: Mahomed, Ziyaad (2017)

  • The slides highlight: 1) an overview of the Islamic capital market (ICM); 2) how does the ICM connect people; 3) advantages of ICM regulatory development.

  • crypto_mania_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad; Ramadili Mohd, Shamsher Mohamad (2017)

  • The 17th century was witness to the Dutch Golden Age, the leading global economic power at the time. It was also the period of what was soon after referred to as 'Tulip Mania' for what is considered the first recorded speculative bubble that collapsed in 1637. Many analysts find a stark similarity between tulip mania and the dramatic rise of the cryptocurrency value in 2017. Tulip bulbs became fashionable status symbols, and although having weak fundamentals, reached exorbitant prices. Bitcoin's dramatic 1,500% increase in 2017 alone, attracted a significantly large group of speculative investors to benefit from what many see as an unhinged gamble on what has gained popularity, not on...

  • Financial_innovation_and_riding_the_Fintech_wave_ziyaad_shamsher.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad; Ramadili Mohd, Shamsher Mohamad (2016)

  • Recent success in the technology sector has witnessed the transformation of start-up companies with relatively small or no seed capital into billion-dollar companies within a very short-space of time. The application of technology in the financial sector has 'disrupted' the traditional "brick-and-mortar" style distribution channels and if not embraced would cause the current financial sector to lose a substantial (estimated between 20 to 40%) portion of their businesses to the firms using 'fintech'.

  • Future_insights_for_Islamic_finance_ziyaad.pdf.jpg
  • Industry Article


  • Authors: Mahomed, Ziyaad (2017)

  • The global Islamic banking and finance industry has been growing consistently notwithstanding the periodic shocks and turbulence economic conditions in various parts of the world. However, looking ahead, what would ensure the growth of the industry and maintain its value proposion? We consider some of these emerging trends. Arguably, the two most significance trends in the financial service space have been the rise of advanced financial technology and the buzz on the "green economy" or sustainable financing.

  • chapter_4_islamic_banking_business_of_conventional_banks_Shamsher_Ziyaad_Nazrol.jpg.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad; Mustaffa Kamil, Nazrol Kamil (2017)

  • Globally, Islamic banking grew by a compound annual growth rate of 17.3 percent between 2009 and 2014. The estimated size of the industry at the end of 2014 was given at US$2.1 trillion. This total follar value of assets held by the Islamic financial institutions is less than 2 percent of the conventional banking industry; nonetheless, this is a huge achievement, considering it started from a zero base in the 1970s (Ernst & Young, 2013). Through the rate of growth has declined in recent years, the industry has nevertheless managed to grow by more than 15 percent even during the 2009 global crisis, whereas the overall banking assets remained static and economic growth in almost all cou...

  • chapter 7_islamic capital market_sukuk_ziyaad.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad (2017)

  • Sukuk are certificates of equal value that represent ownership in tangible assets, usufruct and services, and equity of identified project (AAOIFI, FAS 17 (2010)). They present undivided pro rata ownership of underliying assets (Securities Commission Malaysia, 2011). While sukuk are generally taken to be the counterpart of bonds, they differ from conventional bonds in six basic aspects (Ariff et al., 2012). This chapter explains the sukuk structure and its changing forms. Then, the chapter turns to the discussion of sukuk, capital structure and value of the firm. Before providing a conclusion. issues and challenges faced by the sukuk market are deliberated. Available in physical co...

  • islamic_finance_insolvencies.pdf.jpg
  • Chapter in Book


  • Authors: Zada, Najeeb; Lahsasna, Ahcene; Mahomed, Ziyaad; Saleem, Muhammad Yusuf (2017)

  • Like many other financial institutions, Bahrain-based Arcapita Bank operating in the United States was hit hard by the Eurozne crisis that followed the global financial crisis. Unable to restructure its $1.1 billion debt obligations due in March 2013, the bank decided to file for Chapter 11 protection in the US Bankruptcy Court. This case study introduces Arcapita and its operations, explains the US Chapter 11 and its important aspects like debtor in possession (DIP) financing, highlights the most significant episodes of the Arcapita case, and concludes with important lessons embedded in the proceedings. Available in physical copy only (Call Number: HG 3368 A6 I82Na)

  • CIAWM_Issue3_islamic_social_finance_investment_imperative_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2017)

  • The rapid growth of global Islamic wealth and asset management has contributed to the establishment of a niche market based on the Islamic finance paradigm of interest-free, transparent, profit and loss sharing and mutually beneficial contracts. However, Islamic wealth and finance has been criticized for converging into conventional practices rather than its core principles of socio-economic empowerment and justice. The capitalist attributes of profit maximization without the ethical and moral boundaries has pervaded this industry that was supposed to espouse the ethical and socio-economic tenets as its value prepositions for its future growth and survival. There is an emerging trend ...

  • Islamic_social_finance_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2017)

  • The consistent growth of the global Islamic banking and finance has provided a niche market with solutions and financial inclusion through a well-defined Islamic ethos. Unfortunately, Islamic finance has been criticised for having diverted from its core principles of socio-economic empowerment and upliftment. As in mainstream interest-based finance, Islamic financing and advances rely on the customers' credit-worthiness and the ability to repay, inevitably supporting those with good credit standing to improve their financial status. But, how has Islamic finance improved the lot of the downtrodden? What about the ethical, socio-economic tenets that Islamic finance has so vociferously e...

  • item.jpg
  • Newsletter & Bulletin


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad (2017)

  • Islam has a unique dispensation on the concept of wealth, its ownership and distribution. Wealth is not regarded as an end per se, but a means to an end: the end being the paradise in the hereafter. Essentially, material possessions are considered the primary form of weakth, perceived to be generated, accumulated and/or invested by the one who acquired it. Inclusively, wisdom, knowledge, salvation and even contentment can all be categorized as wealth. From the Islamic perspective, Allah (to Him be Praise) is the true owner of all wealth and He entrusts it to man for beneficial use (Quran 20:6). Therefore, a Muslim is required to earn and invest wealth in Islamically permissibale metho...

  • Malaysia_global_hub_for_fund_administration.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Ramadili Mohd, Shamsher Mohamad; Mahomed, Ziyaad (2017)

  • The last decade has witnessed significant growth of fund management companies in the Southeast Asian region, and Malaysia has shown immense potential in this area. The expansion of the middle income class, outstanding talent and abundant natural resources have contributed to this growth. Despite significant developments in the recent past, the mutual fund industry in Malaysia is relatively small compared with other market in Malaysia, particularly in the area of Islamic fund administration, requires a comprehensive financial ecosystem that is globally competitive.

  • The_resurgence_of_Islamic_social_finance_Ziyaad.pdf.jpg
  • Industry Article


  • Authors: Mahomed, Ziyaad (2017)

  • The consistent growth of the global Islamic banking and finance has provided a niche market with solutions and financial inclusion through a well-defined Islamic ethos. Unfortunately, Islamic finance has been criticised for having diverted from its core principles of socio-economic empowerment and upliftment. As in mainstream interest-based finance, Islamic financing and advances rely on the customers' credit-worthiness and the ability to repay, inevitably supporting those with good credit standing to improve their financial status. But, how has Islamic finance improved the lot of the downtrodden? What about the ethical, socio-economic tenets that Islamic finance has so vociferously e...

  • Sukuk_and_its_wealth_effect_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2016)

  • Classical corporate finance theory considers capital market behavior crucial to understanding how to maximize firm value and shareholder wealth. How this is achieved has been debated extensively over the last century. It stands to reason though, that maximizing firm value requires effective investment decisions which in turn necessitates a valuable source of capital. This capital can be provided either internally or externally, each influencing the risk of the firm and initiating varied wealth effects.

  • IF_Hub_Issue_2_Sukuk_announcement_Ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2017)

  • Capital market behavior and the effects of varying sources of capital on share price has long intrigued finance theorists (Brown & Warner, 1980) and the choice of conventional capital market instruments based on investor reaction, has been researched extensively (Abdul Rahim, 2012). Profit-driven firms focus on profit maximization and the creation of shareholder wealth. However, opting for internal funds over public fund-raising has been shown to signal quality to the market, thereby affecting overall company value (Ross, 1977). The introduction of Sukuk instruments since 2001 has also influenced market reaction (Ashhari et al., 2009). Therefore, we investigate the effects of Sukuk an...

  • Sukuk_announcement_effects_during_financial_crisis_the_case_for_Indonesia_ziyaad_et_al.pdf.jpg
  • Journal Article


  • Authors: Mahomed, Ziyaad; Ramadili Mohd, Shamsher Mohamad; Ariff, Mohamed (2018)

  • The effects of capital-raising announcements have long been used as an indicator of increased shareholder wealth (Brown and Warner, 1985). Studies on bond announcements, for example, have been largely inconclusive. However, when effects are measured based on bond underlying structure, 'straight and convertible bonds', then the results are more conclusive (Abdul Rahim, 2012). Furthermore, issuances around crisis period are expected to result in negative market reaction as investors prefer liquidity (Fenn, 2000). Sukuk are bond-like instruments that are issued based on the Sharia guidelines and perceived to be less risky due to their risk sharing attribute. Sukuk are issued by the gover...

  • Wealth_effect_of_sukuk_issuance_announcement_in_two_markets_ziyaad_ariff_shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2017)

  • This chapter is written with a view to explain how stock prices react to the issuance of a new kind of debt instrument (the sukuk debt certificates) in two stock markets in the period 2001-15. The existing classical corporate finance theory considers share prices' response to capital issuances to be crucial to any understanding on how to maximize the firm value and thus the shareholder wealth. How this is achieved has been debated extensively and deliberated elaborately by academics over six decades. It stands to reason, though, that maximizing firm value requires effective investment decisions which in turn necessitates access to a valuable source of capital.

  • PhD_wealth_effects_corporate_sukuk_announcements_Ziyaad_Mahomed.pdf.jpg
  • PhD


  • Authors: Mahomed, Ziyaad (2016)

  • This thesis evaluates the wealth effects of corporate Sukuk issuances, based on specific sample traits, for the three largest issuing countries: Malaysia, Indonesia and Saudi Arabia. The sample traits include underlying structure, size of issuance and tenor. Previous studies are inconclusive and relate mainly to Malaysian firms only. This could be attributed to the failure to incorporate the effects of Sukuk types, properly identified crisis period effects and market differences ... Available in physical copy and downloadable format (Call Number: t HG 4651 M216)

  • Zakat_in_Islamic_wealth_management_ziyaad.jpg.jpg
  • Chapter in Book


  • Authors: Mahomed, Ziyaad (2017)

  • The common understanding of investments is to manage wealth such that there is wealth increase with rare losses of the starting value to compensate wealth holders (i) against inflation via risk-free return and (ii) plus a risk premium for the risk of the investment. It thus has the twin objectives of growth in wealth and preservation of wealth. This is achieved by means of a planned strategy that defines the goals of the investor. Wealth management includes the following: to achieve maximum growth with minimal risk (or maximum growth for a target level of risk); to manage risk as far as is possible to minimise taxation and other costs to receive a consistent income; to have a consiste...

  • Zakat_Islamic_wealth_management_wealth_effects_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2016)

  • The purification of wealth through charity is considered a significant part of the trusteeship of wealth or wealth management. In the Quranic verses 17:26-27 & 29-30, Almighty Allah clarifies the right that the deserving and the needy have over the wealth entrusted to man, further instructing that these rights be fulfilled as a financial obligation. For example, hoarding excessive wealth (wealth that is not invested) is actually irrational as zakat is charged on all financial and real assets, resulting in a negative rate of return (zakat rate) Al-Jarhi (1985).