Assoc. Prof. Dr. Adam Boon Ka Ng
Qualification:Ph.D.in Islamic Finance, International Centre for Education in Islamic Finance (2014)
Fields/Area of Specialization:Corporate sustainabilitySustainability Banking
Associate Prof. Dr. Adam Ng Boon Ka has been appointed as the Deputy Director, Research Management Centre (RMC) of INCEIF effective 15 May 2017. He graduated with a PhD in Islamic Finance from INCEIF. He also holds law degrees from Oxford University and International Islamic University of Malaysia. He is a part of the Financial Infrastructure Development Team at the Islamic Banking and Takaful Department, Central Bank of Malaysia.

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Top Country : Malaysia

Showing results 1 to 20 of 36
  • banking_sustainability_policy_regulatory_financial_case_action_adam.pdf.jpg
  • Industry article


  • Authors: Ng, Adam Boon Ka (2016)

  • In today’s increasingly challenging era, the financial sector has a significant role in catalysing the global transition to sustainable development and shared prosperity. Sustainability can be practiced from the inside (financial institutions’ internal operation) to the outside (financial institutions’ financing and investment). Yet, can banks do well while doing good? Does a bank that improves its economic, environmental, social and governance performance increase, decrease, or leave unchanged its financial performance? Is the banking sector up to the challenge as the steward of long-term capital, preserving and enhancing different types of capital in the value creation process?

  • benchmarking_objectives_Shariah_Islamic law_index_performance_select_OIC_countries_alaabed.pdf.jpg
  • Journal Article


  • Authors: Alaabed, Alaa; Askari, Hossein; Iqbal, Zamir; Ng, Adam Boon Ka (2016)

  • Islam offers a sustainable and comprehensive development model for humanity that can be systematically categorised as the means as well as the ideal outcome of achieving Maqasid (objectives) of Shari'ah (Islamic law). As a rule-based religion, Islam's prescription for development goes well beyond market regulations and includes rules necessary to maintain a dignified life; in order that the faithful can maximise their intellectual capacity, preserve and promote their health and education, and have equal opportunity for employment and partnership in the economic and social development of society, and unhampered by practices of fraud, cheating, corruption, or property abuse, among other...

  • culture_income_co2_emission_mustafa_adam_hossein.pdf.jpg
  • Journal Article


  • Authors: Dislia, Mustafa; Ng, Adam Boon Ka; Askari, Hossein (2016)

  • Given the devastating effects of global warming, the problem of human-induced climate change, and in particular carbon dioxide emissions, has been high on the global policy agenda. In this study, we examine the relationship between national culture, carbon dioxide emissions, and economic growth in the framework of the Environmental Kuznets Curve (EKC). Applying system GMM panel estimator across 69 developed and developing countries, we confirm the existence of EKC and show that culture significantly affects the income-emission relationship. Moreover, the effects of the six cultural dimensions on EKC can be collapsed into two: (i) masculinity, power distance and indulgence move the EKC...

  • Demystifying_small_and_medium_enterprises_adam_ndieye_et_al.pdf.jpg
  • Journal Article


  • Authors: Ndiaye, Ndeye Djiba; Abdul Razak, Lutfi; Nagayev, Ruslan; Ng, Adam Boon Ka (2018)

  • Applying the General-to-Specific modelling on World Bank Enterprise Survey data for 266 economies, this paper models five performance indicators based on 80 potential factors derived from firm characteristics, finance, informality, infrastructure, innovation, technology, regulation, taxes, trade and workforce concerning small and medium enterprises (SMEs). We find that the factors vary regarding statistical significance and magnitude between small and medium enterprises. For example, the percent of firms using e-mail to interact with clients/suppliers has a positive effect on the annual employment growth of medium enterprises, but not the case of small enterprises. The proportion of i...

  • Phd_The_determinants_of_mission_drift_in_microfinance_and_threshold_of_outreach_financial_stability_Ashraful_Mobin.pdf.jpg
  • PhD


  • Authors: Mobin, Mohammad Ashraful (2017)

  • The microfinance industry can reach the poor in large scale and yet attain profitability. To maintain these two objectives which is known as double bottom line, microfinance institutions (MFIs) have to find the right balance between financial sustainability and social performance. However, there have been considerable debates on whether the goals of the double bottom line have been compromised. It is argued that to attain profitability, MFIs have allegedly shifted away from its mandate of serving the poorest borrowers in pursuit of financial sustainability. This phenomenon is described as "mission drift" ... Available in physical copy and downloadable format (Call Number: t HG 178....

  • item.jpg
  • Master


  • Authors: Abdullah (2017)

  • The aim of this paper is to investigate the determinants of ESG disclosure in the OIC banking sector. This study considers bank specific, governance specific and macro variables as potential determinants. By analysing 98 banks using Random Login model, the study suggests that asset size and capitalization are significantly positively associated with the disclosure of environmental and social indicators Banks with higher loan to total asset ratio are most likely to disclose their environmental and social indicators. Lower profitable banks perform better environmental and social activities compare to the higher profitable banks. Available in physical copy only (Call Number: t HG 3368...

  • item.jpg
  • Master


  • Authors: Tanin, Tauhidul Islam (2017)

  • The linkage between the financial performance of microfinance institutions (MFIs) and comprehensive ESG (Environmental, Social and Governance) performance has been ignored by researchers till date albeit this tie may serve as a primary objective for MFIs. This paper aimed at studying whether ESG performance influence MFIs' financial performance based on an annual dataset covering 5 years, 34 countries and 62 MFIs. Econometric evidence of panel data analysis reveals that ESG performance positively affects financial performance for the periods under review yet sub-models (of ESG) documented mixed results ... Available in physical copy only (Call Number: t HG 4026 T164)

  • Does trust contribute to stock market development_Adam.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2016)

  • In view of the increasing contributions of social capital in financial development, we examine the relevance of social capital in stock market development by applying Bayesian model averaging on 37 variables across 60 countries from 2000 to 2006. The results demonstrate that trust is a robust and positive determinant of stock market depth and liquidity, and that trust is the most relevant component of social capital in market development. Macroeconomic instability in the form of inflationary changes has a dampening effect on trust in the trading of stock. Further, social capital and its components, particularly trust, are more relevant to stock market development in countries with wea...

  • doing_well_while_doing_good_the_case_of_islamic_and_sustainability_equity_investing_adam.pdf.jpg
  • Academic Presentation


  • Authors: Ng, Adam Boon Ka; Naeem Azmi, Choudhari Wajahat; Dewandaru, Ginanjar; Nagayev, Ruslan (2016)

  • Sustainability trends present risks and opportunities for companies and various stakeholders. Profits can be derived from doing good: Islamic sustainability equity in vesting offers competitive risk-return profiles at the levels of individual asset and portfolio of global assets particularly during economic expansion, equity bullish and subprime crisis periods. Islamic finance industry should proactively drive main stream sustainability investing.

  • Ethical_behavior_trustworthiness_stock_market_growth_nexus_adam_mansor_abbas.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2015)

  • While formal institutional quality has been used to explain the finance-growth nexus, the role of social capital has not been fully addressed. The proposition of “better finance, more growth” is important amidst concerns over the erosion of ethics and trust in finance in the aftermath of the 2007/2008 global financial crisis. Using threshold estimation technique, this study examines whether the growth effect of stock market development differs according to the distinct levels of ethical behavior and trustworthiness in a cross-section of 73 jurisdictions during the post-crisis period. The results demonstrate that the impact of stock market liquidity on gross domestic product (GDP) and ...

  • impact_social_environmental_sustainability_esma et al.pdf.jpg
  • Journal Article


  • Authors: Nizam, Esma; Ng, Adam Boon Ka; Dewandaru, Ginanjar; Nagayev, Ruslan; Nkoba, Malik Abdul Rahman (2019)

  • While there is ample evidence that non-financial firms' financial performance and social and environmental performance are related, evidence for the banking sector remains limited and inconclusive. This paper examines the impact of access to finance and environmental financing on the financial performance of the banking sector globally. Based on cross-sectional linear regressions and non-linear threshold regressions of 713 banks from 75 countries over the period 2013-2015, we find that access to finance has significantly positive effects on banks' financial performance in most estimation models controlling for both bank-specific and macroeconomic variables. The positive impact on fina...

  • incorporating_sustainability_criteria_islamic_investment_framework.pdf.jpg
  • Academic Presentation


  • Authors: Ng, Adam Boon Ka; Dewandaru, Ginanjar (2017)

  • The slides highlight: 1) enhancing responsible business and sustainability practices; 2) enhancing positive impact while minimizing negative impact; 3) incorporating sustainability demands big data and robust research methodology.

  • small_new_big_Islamic_banking_SMEs_Turkey_adam.pdf.jpg
  • Journal Article


  • Authors: Aysan, Ahmet F.; Disli, Mustafa; Ng, Adam Boon Ka; Ozturk, Huseyin (2016)

  • While SMEs constitute the backbone of many economies, many SMEs have limited access to finance. Yet, banks in some countries are actively financing SMEs. This paper examines whether this is true in the case of Turkey, a G20 economy that has a significant SME sector. We study the determinants of banks' willingness to finance SMEs and banks' processing ability of SME financing portfolio in Turkey based on a unique quarterly small business panel data set of 40 commercial banks from 2006 to 2014. Employing pooled OLS and fixed-effects estimators, we find that Islamic banks (known as Participation banks in Turkey) are more inclined toward financing SMEs than conventional banks. We also fin...

  • is_the_regime_of_risk_transfer_sustainable_abbas_adam_ginanjar_baharom.pdf.jpg
  • Journal Article


  • Authors: Mirakhor, Abbas; Ng, Adam Boon Ka; Dewandaru, Ginanjar; Abdul Hamid, Baharom (2017)

  • In a risk transfer and shifting financial systems, an interest rate based debt contract is an "impossible contract," since, under the axioms of conventional economics, the borrower has an incentive not to repay the loan. Such impossible contract is made possible by creating a virtual world of certainty through mechanisms such as collateral requirements and an edifice of legal, administrative, policy incentive mechanisms that include positive and negative enforcements that protect the creditor. The society has to bear huge costs to make them possible. Risk sharing has the potential to enhance efficiency as each party to contracts has "skin-in-the-game", thus eliminating or minimizing t...

  • islamic finance in malaysia_policymaking and stakeholder contributions_adam ng_1st page.jpg.jpg
  • Chapter in Book


  • Authors: Ng, Adam Boon Ka (2017)

  • Malaysia has developed a progressive and comprehensive Islamic finance ecosystem that has grown from strength to strength over the last 30 years. The ecosystem provides a conducive and vibrant environment that is characterised by active Islamic financial markets and well-established financial infrastructure, underpinned by a sound regulatory, supervisory, legal ans Shari'ah framework, and reinforced by a skilled talent pool with global capabilities. This chapter builds on existing literature in an integrated fashion by focusing on the roles and contributions of BNM and the SC in the development of the Islamic finance industry ... Available in physical copy only (Call Number: HG 336...

  • macroeconomic shocks and Islamic bank behavior in turkey_Ahmet_Mustafa_Adam_Huseyin.jpg.jpg
  • Chapter in Book


  • Authors: Aysan, Ahmet F.; Disli, Mustafa; Ng, Adam Boon Ka; Ozturk, Huseyin (2017)

  • Events such as the 'credit crunch', 'bank run', 'financial contagion', 'flight to quality' and 'systemic risks' have widely transpired in recent times. One important dimension permeating these events is the dynamic link between macroeconomic shocks and banks' behaviour. Economic crises experienced by five East Asian countries in the late 1990s were accompanied by financial sector problems. The Great Recession of the late 2000s also corresponded to heightened solvency risks affecting over-leveraged banks and financial institutions in many developed countries. In a world of imperfect information, adverse macroeconomic shocks could weaken firms' balance sheets, diminish bank capital and ...

Assoc. Prof. Dr. Adam Boon Ka Ng
author picture
Qualification: Ph.D.in Islamic Finance, International Centre for Education in Islamic Finance (2014)
Fields/Area of Specialization: Corporate sustainabilitySustainability Banking
Associate Prof. Dr. Adam Ng Boon Ka has been appointed as the Deputy Director, Research Management Centre (RMC) of INCEIF effective 15 May 2017. He graduated with a PhD in Islamic Finance from INCEIF. He also holds law degrees from Oxford University and International Islamic University of Malaysia. He is a part of the Financial Infrastructure Development Team at the Islamic Banking and Takaful Department, Central Bank of Malaysia.
Showing results 1 to 20 of 36
  • banking_sustainability_policy_regulatory_financial_case_action_adam.pdf.jpg
  • Industry article


  • Authors: Ng, Adam Boon Ka (2016)

  • In today’s increasingly challenging era, the financial sector has a significant role in catalysing the global transition to sustainable development and shared prosperity. Sustainability can be practiced from the inside (financial institutions’ internal operation) to the outside (financial institutions’ financing and investment). Yet, can banks do well while doing good? Does a bank that improves its economic, environmental, social and governance performance increase, decrease, or leave unchanged its financial performance? Is the banking sector up to the challenge as the steward of long-term capital, preserving and enhancing different types of capital in the value creation process?

  • benchmarking_objectives_Shariah_Islamic law_index_performance_select_OIC_countries_alaabed.pdf.jpg
  • Journal Article


  • Authors: Alaabed, Alaa; Askari, Hossein; Iqbal, Zamir; Ng, Adam Boon Ka (2016)

  • Islam offers a sustainable and comprehensive development model for humanity that can be systematically categorised as the means as well as the ideal outcome of achieving Maqasid (objectives) of Shari'ah (Islamic law). As a rule-based religion, Islam's prescription for development goes well beyond market regulations and includes rules necessary to maintain a dignified life; in order that the faithful can maximise their intellectual capacity, preserve and promote their health and education, and have equal opportunity for employment and partnership in the economic and social development of society, and unhampered by practices of fraud, cheating, corruption, or property abuse, among other...

  • culture_income_co2_emission_mustafa_adam_hossein.pdf.jpg
  • Journal Article


  • Authors: Dislia, Mustafa; Ng, Adam Boon Ka; Askari, Hossein (2016)

  • Given the devastating effects of global warming, the problem of human-induced climate change, and in particular carbon dioxide emissions, has been high on the global policy agenda. In this study, we examine the relationship between national culture, carbon dioxide emissions, and economic growth in the framework of the Environmental Kuznets Curve (EKC). Applying system GMM panel estimator across 69 developed and developing countries, we confirm the existence of EKC and show that culture significantly affects the income-emission relationship. Moreover, the effects of the six cultural dimensions on EKC can be collapsed into two: (i) masculinity, power distance and indulgence move the EKC...

  • Demystifying_small_and_medium_enterprises_adam_ndieye_et_al.pdf.jpg
  • Journal Article


  • Authors: Ndiaye, Ndeye Djiba; Abdul Razak, Lutfi; Nagayev, Ruslan; Ng, Adam Boon Ka (2018)

  • Applying the General-to-Specific modelling on World Bank Enterprise Survey data for 266 economies, this paper models five performance indicators based on 80 potential factors derived from firm characteristics, finance, informality, infrastructure, innovation, technology, regulation, taxes, trade and workforce concerning small and medium enterprises (SMEs). We find that the factors vary regarding statistical significance and magnitude between small and medium enterprises. For example, the percent of firms using e-mail to interact with clients/suppliers has a positive effect on the annual employment growth of medium enterprises, but not the case of small enterprises. The proportion of i...

  • Phd_The_determinants_of_mission_drift_in_microfinance_and_threshold_of_outreach_financial_stability_Ashraful_Mobin.pdf.jpg
  • PhD


  • Authors: Mobin, Mohammad Ashraful (2017)

  • The microfinance industry can reach the poor in large scale and yet attain profitability. To maintain these two objectives which is known as double bottom line, microfinance institutions (MFIs) have to find the right balance between financial sustainability and social performance. However, there have been considerable debates on whether the goals of the double bottom line have been compromised. It is argued that to attain profitability, MFIs have allegedly shifted away from its mandate of serving the poorest borrowers in pursuit of financial sustainability. This phenomenon is described as "mission drift" ... Available in physical copy and downloadable format (Call Number: t HG 178....

  • item.jpg
  • Master


  • Authors: Abdullah (2017)

  • The aim of this paper is to investigate the determinants of ESG disclosure in the OIC banking sector. This study considers bank specific, governance specific and macro variables as potential determinants. By analysing 98 banks using Random Login model, the study suggests that asset size and capitalization are significantly positively associated with the disclosure of environmental and social indicators Banks with higher loan to total asset ratio are most likely to disclose their environmental and social indicators. Lower profitable banks perform better environmental and social activities compare to the higher profitable banks. Available in physical copy only (Call Number: t HG 3368...

  • item.jpg
  • Master


  • Authors: Tanin, Tauhidul Islam (2017)

  • The linkage between the financial performance of microfinance institutions (MFIs) and comprehensive ESG (Environmental, Social and Governance) performance has been ignored by researchers till date albeit this tie may serve as a primary objective for MFIs. This paper aimed at studying whether ESG performance influence MFIs' financial performance based on an annual dataset covering 5 years, 34 countries and 62 MFIs. Econometric evidence of panel data analysis reveals that ESG performance positively affects financial performance for the periods under review yet sub-models (of ESG) documented mixed results ... Available in physical copy only (Call Number: t HG 4026 T164)

  • Does trust contribute to stock market development_Adam.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2016)

  • In view of the increasing contributions of social capital in financial development, we examine the relevance of social capital in stock market development by applying Bayesian model averaging on 37 variables across 60 countries from 2000 to 2006. The results demonstrate that trust is a robust and positive determinant of stock market depth and liquidity, and that trust is the most relevant component of social capital in market development. Macroeconomic instability in the form of inflationary changes has a dampening effect on trust in the trading of stock. Further, social capital and its components, particularly trust, are more relevant to stock market development in countries with wea...

  • doing_well_while_doing_good_the_case_of_islamic_and_sustainability_equity_investing_adam.pdf.jpg
  • Academic Presentation


  • Authors: Ng, Adam Boon Ka; Naeem Azmi, Choudhari Wajahat; Dewandaru, Ginanjar; Nagayev, Ruslan (2016)

  • Sustainability trends present risks and opportunities for companies and various stakeholders. Profits can be derived from doing good: Islamic sustainability equity in vesting offers competitive risk-return profiles at the levels of individual asset and portfolio of global assets particularly during economic expansion, equity bullish and subprime crisis periods. Islamic finance industry should proactively drive main stream sustainability investing.

  • Ethical_behavior_trustworthiness_stock_market_growth_nexus_adam_mansor_abbas.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2015)

  • While formal institutional quality has been used to explain the finance-growth nexus, the role of social capital has not been fully addressed. The proposition of “better finance, more growth” is important amidst concerns over the erosion of ethics and trust in finance in the aftermath of the 2007/2008 global financial crisis. Using threshold estimation technique, this study examines whether the growth effect of stock market development differs according to the distinct levels of ethical behavior and trustworthiness in a cross-section of 73 jurisdictions during the post-crisis period. The results demonstrate that the impact of stock market liquidity on gross domestic product (GDP) and ...

  • impact_social_environmental_sustainability_esma et al.pdf.jpg
  • Journal Article


  • Authors: Nizam, Esma; Ng, Adam Boon Ka; Dewandaru, Ginanjar; Nagayev, Ruslan; Nkoba, Malik Abdul Rahman (2019)

  • While there is ample evidence that non-financial firms' financial performance and social and environmental performance are related, evidence for the banking sector remains limited and inconclusive. This paper examines the impact of access to finance and environmental financing on the financial performance of the banking sector globally. Based on cross-sectional linear regressions and non-linear threshold regressions of 713 banks from 75 countries over the period 2013-2015, we find that access to finance has significantly positive effects on banks' financial performance in most estimation models controlling for both bank-specific and macroeconomic variables. The positive impact on fina...

  • incorporating_sustainability_criteria_islamic_investment_framework.pdf.jpg
  • Academic Presentation


  • Authors: Ng, Adam Boon Ka; Dewandaru, Ginanjar (2017)

  • The slides highlight: 1) enhancing responsible business and sustainability practices; 2) enhancing positive impact while minimizing negative impact; 3) incorporating sustainability demands big data and robust research methodology.

  • small_new_big_Islamic_banking_SMEs_Turkey_adam.pdf.jpg
  • Journal Article


  • Authors: Aysan, Ahmet F.; Disli, Mustafa; Ng, Adam Boon Ka; Ozturk, Huseyin (2016)

  • While SMEs constitute the backbone of many economies, many SMEs have limited access to finance. Yet, banks in some countries are actively financing SMEs. This paper examines whether this is true in the case of Turkey, a G20 economy that has a significant SME sector. We study the determinants of banks' willingness to finance SMEs and banks' processing ability of SME financing portfolio in Turkey based on a unique quarterly small business panel data set of 40 commercial banks from 2006 to 2014. Employing pooled OLS and fixed-effects estimators, we find that Islamic banks (known as Participation banks in Turkey) are more inclined toward financing SMEs than conventional banks. We also fin...

  • is_the_regime_of_risk_transfer_sustainable_abbas_adam_ginanjar_baharom.pdf.jpg
  • Journal Article


  • Authors: Mirakhor, Abbas; Ng, Adam Boon Ka; Dewandaru, Ginanjar; Abdul Hamid, Baharom (2017)

  • In a risk transfer and shifting financial systems, an interest rate based debt contract is an "impossible contract," since, under the axioms of conventional economics, the borrower has an incentive not to repay the loan. Such impossible contract is made possible by creating a virtual world of certainty through mechanisms such as collateral requirements and an edifice of legal, administrative, policy incentive mechanisms that include positive and negative enforcements that protect the creditor. The society has to bear huge costs to make them possible. Risk sharing has the potential to enhance efficiency as each party to contracts has "skin-in-the-game", thus eliminating or minimizing t...

  • islamic finance in malaysia_policymaking and stakeholder contributions_adam ng_1st page.jpg.jpg
  • Chapter in Book


  • Authors: Ng, Adam Boon Ka (2017)

  • Malaysia has developed a progressive and comprehensive Islamic finance ecosystem that has grown from strength to strength over the last 30 years. The ecosystem provides a conducive and vibrant environment that is characterised by active Islamic financial markets and well-established financial infrastructure, underpinned by a sound regulatory, supervisory, legal ans Shari'ah framework, and reinforced by a skilled talent pool with global capabilities. This chapter builds on existing literature in an integrated fashion by focusing on the roles and contributions of BNM and the SC in the development of the Islamic finance industry ... Available in physical copy only (Call Number: HG 336...

  • macroeconomic shocks and Islamic bank behavior in turkey_Ahmet_Mustafa_Adam_Huseyin.jpg.jpg
  • Chapter in Book


  • Authors: Aysan, Ahmet F.; Disli, Mustafa; Ng, Adam Boon Ka; Ozturk, Huseyin (2017)

  • Events such as the 'credit crunch', 'bank run', 'financial contagion', 'flight to quality' and 'systemic risks' have widely transpired in recent times. One important dimension permeating these events is the dynamic link between macroeconomic shocks and banks' behaviour. Economic crises experienced by five East Asian countries in the late 1990s were accompanied by financial sector problems. The Great Recession of the late 2000s also corresponded to heightened solvency risks affecting over-leveraged banks and financial institutions in many developed countries. In a world of imperfect information, adverse macroeconomic shocks could weaken firms' balance sheets, diminish bank capital and ...