Prof. Dr.


Shamsher Mohamad Ramadili Mohd

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Qualification Finance, University of Glasgow, Scotland, U.K. (1990)
Fields/Area of Specialization
Accounting; Finance
Prof. Dr. Shamsher holds a PhD in Finance from University of Glasgow in Scotland. Prior to INCEIF, he taught Finance courses at both undergraduate and graduate level at University Putra Malaysia (UPM). He served UPM for 30 years starting as a tutor in the same faculty in 1980. In 2012, he joined INCEIF as a Professor in Finance and Accounting. His areas of interest are accounting and finance.

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Now showing 1 - 11 of 119
  • Publication
    A comparison of MASB and AAOFI accounting conceptual frameworks
    Shamsher Mohamad Ramadili Mohd; Zulkarnain Muhamad Sori (AAOIFI, 2017)

    This paper aims to present comparison of conceptual framework published by the Malaysian Accounting Standards Board (MASB) (fully converged with the standards issued by the International Accounting Standards Board (IASB) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). As the Islamic finance industry evolved, some scholars proposed that the Islamic Financial Institutions (IFIs) should have different accounting standards to serve their need to report the unique financial information needs. The research is motivated by the introduction of accounting standards by the AAOIFI to fulfill the financial reporting needs of Islamic finance industry that offered Shariah complied products and services. AAOIFI divided the objective of financial reporting into two parts, namely, objective of financial accounting and objective of financial reports. However, only a limited number of countries adapted the AAOIFI accounting standards as mandatory for their IFIs. The other 120 countries apply standards issued by IASB for their IFIs. For MASB, the objective of financial reporting is to generate useful financial information for creditors and investors. An analysis of the accounting principles outlined in the conceptual framework of the MASB shows substantial replication of the AAOIFI's conceptual framework. In the Malaysian Islamic finance industry perspective, though the regulator requires the IFIs to apply the IFRS, yet it issued relevant regulations as a guide for IFIs financial reporting and to close the gap.

  • Publication
    Ownership structures and productivity in Indonesia and Malaysia
    Sukmadilaga, Citra; Hassan, Taufiq; Shamsher Mohamad Ramadili Mohd (Inderscience Enterprises Ltd, 2017)

    The relationship between ownership structures and company performance has been issue of interest among academics, investors and policy-makers. So far, there are still inconclusive findings that family and state ownership giving positive or negative impact on firm performance. This study employed technical efficiency and Malmquist productivity index to measure firm performance. Period of this study will be conduct from 1992 to 2007. Result of this study revealed that Technical efficiency study in Indonesia showed that state owned enterprises (SOEs) had better performance than family owned enterprises (FOEs) since SOEs' performance increased more stably during research period. Meanwhile Malaysia-based technical efficiency study demonstrated that FOEs samples had lower efficiency level than SOEs, which performed a little enhancement. In term of productivity, Indonesian FOEs had become more productive compare with SOEs during three sub-periods. On the other hand, Malaysian FOEs and SOEs had improved from time to time within the three sub-periods.

  • Publication
    Islamic banking business of conventional banks: transition from windows to Islamic subsidiaries
    Nazrol Kamil Mustaffa Kamil; Shamsher Mohamad Ramadili Mohd; Ziyaad Mahomed (Pearson Malaysia Sdn Bhd, 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 countries was negative.

  • Publication
    Nonfinancial traits and financial smartness: international evidence from Shariah-compliant and socially responsible funds
    Naeem Azmi, Choudhary Wajahat; Mohd Rasid, Mohamed Eskandar Shah; Shamsher Mohamad Ramadili Mohd (Elsevier B.V., 2018)

    This paper examines the flow-performance relationship and the presence of "Smart money effect" in Socially responsible funds (SRFs) and Shariah compliant funds (SCFs). A survivorship bias free sample of 686 funds comprising of 212 SCFs and 474 SRFs were analysed with investment focus in the Asia pacific, Emerging markets, Europe, Global (with no focus to any specific country or region), Middle East and North Africa (MENA) and North America. The findings show that flow-performance relationship is asymmetric for both the funds as the response to positive returns is more as compare to the negative returns for the last/current year as well as the last/current month. There is also a significant presence of "Smart money effect" in both the funds for the entire sample but there is no evidence of "Smart money effect" in SRFs for the sample of old funds.

  • Publication
    Fintech: technology application in the financial product ecosystem
    Shamsher Mohamad Ramadili Mohd; Ziyaad Mahomed (CIWM, )

    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. From the advent of taxi-hailing apps (aka Uber, Lyft and Grabcar) to accommodation (eg. Airbnb), smartphone applications and web-based platform provide the evidence of this growing phenomena. 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 portion of their businesses (estimated between 20% to 40%) to firms using 'fintech'.

  • Publication
    Shariah committee and shariah governance framework: some evidence
    Mohamed Eskandar Shah Mohd Rasid; Shamsher Mohamad Ramadili Mohd; Zulkarnain Muhamad Sori (UPM Press, 2015)

    Over the last few decades, the Islamic financial system has shown a strong and improved performance, where the global total assets of the industry as of end 2014 has exceeding USD2.0 trillion or a compounded annual growth rate (GACR) of 17.4% between 2009 and 2014. The Malaysia International Islamic Financial Centre (MIFC) reported monumental issuances in sovereign sukuks by the governments of the UK, Senegal, Hong Kong, South Africa and Luxembourg ammounting to USD 115 billion.

  • Publication
    Research on Islamic banking in Malaysia: a guide for future direction
    Gulzhan Musaeva; Mohamed Eskandar Shah Mohd Rasid; Shamsher Mohamad Ramadili Mohd (Islamic Bank Training and Research Academy, 2014)

    Although not a near equivalent of conventional banking in terms of size, the global Islamic banking industry has grown a very rapid pace in the last three decades. Malaysia has been at the forefront of this development since early 1980s and has earned a reputation of a global hub for Islamic banking. Since its inception, much research has been carried out in this area but there is no systematic documentation of research findings in Islamic banking., though much focus has been on aspects of efficiency and performance vis-a-vis the conventional counterparts. This warrants our relooking at the research - both theoretical and empirical - in different areas of Islamic banking in Malaysia, as to provide a road-map for the structured long-term development of the industry in consonance with country's global leadership position in Islamic banking. This paper surveys and analyses the published worked on Islamic banking in Malaysia with the goals of evaluating their contribution and usefulness to various stakeholders and charting the future directions for research that could sustain Malaysia's global leadership position in Islamic banking.

  • Publication
    The assets and liabilities gap management of conventional and Islamic banks in the organization of Islamic cooperation (OIC) countries
    Poi Hun Sun; M. Kabir Hassan; Taufiq Hassan; Shamsher Mohamad Ramadili Mohd (Routledge, 2014)

    This article focuses on the short- and long-term assets and liabilities gap and the determinants of net interest/profit margins of both conventional banks and Islamic banks in the Organization of Islamic Cooperation countries over the period from 1997 to 2010. The results show that both conventional and Islamic banks have negative short-term gaps and positive long-term gaps. These indicate that banks use short-term deposits and funding to finance long-term loans, advances and investments, taking into consideration refinancing and reinvestment risks. The findings also show that operating cost is a significant determinant of bank margins and important factor to improve quality of management in banks. Overall, the conventional banks have better quality of assets and liabilities with an optimum composition of profitable assets and low-costs liabilities. The low bank margins in conventional and Islamic banks indicate low volatility in financial markets and the growth of banking business.

  • Publication
    Issues in waqf and zakat management
    Mohamed Ariff; Shamsher Mohamad Ramadili Mohd (Edward Elgar Publishing Limited, 2017)

    An overview of the challenges ahead for the continued growth of the industry is to be found in this chapter. These issues are faced by every new marketplace, where new securities are issued. How these issues are faced with creative resolutions will provide the pathway for this market to prosper in the future.

  • Publication
    Application of Shariah governance framework in Islamic financial institutions
    Mohamed Eskandar Shah Mohd Rasid; Shamsher Mohamad Ramadili Mohd; Zulkarnain Muhamad Sori (UMK Press, 2019)

    This chapter provides discussion on a study that investigates the perceptions on shariah governance practices among Malaysian Islamic financial institutions. The chapter explores the effectiveness of implementation of Shariah Governance Framework among Malaysian IFIs with the focus on their level of commitment, the challenges and suggestions to further improve the effectiveness of implementation of this framework. The system of corporate control, effective and efficient governance that is consistent with shariah guidance has been an important agenda for Islamic Financial Institutions (IFIs) since the existence ofIslamic Finance in Malaysia. This is especially important in light of rapid growth in Islamic Finance industry not only in Malaysia but globally. The well-functioning Islamic finance industry can only be sustained if there is good corporate governance practice by IFIs that comply with the shariah guidance.

  • Publication
    Product market fluidity and religious constraints: evidence from the US market
    Zaheer Anwer; Choudhary Wajahat Naeem Azmi; Akram Shavkatovich Hasanov; Shamsher Mohamad Ramadili Mohd (John Wiley & Sons Australia, Ltd, 2022)

    We use a sample of 5,863 US firms to investigate how religious constraints affect the product market fluidity for Shariah compliant (SC) firms. The study is important as Islamic asset management is emerging as an alternative investment class. We find that SC firms are less exposed to product market threats in relation to Shariah non-compliant (SNC) firms. They are more competitive in the case of less concentrated markets, lower market share, equity multiplier, market/book assets ratio, experience lower asset growth, and spend little on research and development. Their competitive position is strengthened when their return on assets, sales and retained earnings are lower.