Person:

Assoc. Prof. Dr.

Person:

Ziyaad Mahomed

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Position
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Phd (Islamic Finance), INCEIF
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Associate Dean/Director, Executive Education & E-Learning
Biography
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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Now showing 1 - 11 of 54
  • Publication
    Crypto: a 'contagious disease' or the 'most useful system of trust ever devised'? Is crypto halal?
    Ziyaad Mahomed (Financial Planning Association of Malaysia, 2022)

    Over the last century, few assets can claim a meteoric rise as cryptocurrency ('crypto') has. Crypto has taken several forms, with rapid innovation and uniquely linked value propositions, which include: a) CBDCs (Central Bank Digital Currencies that are digital versions of local currency); b) Stablecoins (that may be fiat-backed, commodity-backed or algorithm-based), c) the more well-known Exchange Coins (e.g. Bitcoin, Ethereum and Cardano), and d) tokens (security tokens that provide rights, utility tokens that can be redeemed for access to products and services and social impact tokens that provide sustainable or social impact). Except for CBDCs, other cryptocurrencies have had limited applicability or validity as mediums of exchange. They are in fact digital assets based on a version of blockchain protocol, pioneered by Nakamoto in 2009 and offered first through Bitcoin, the 'father' of cryptos.

  • Publication
    Alternative crypto solutions for impact investing: advancing social impact tokens
    Ziyaad Mahomed (ISRA Research Management Centre, 2021)

    Global agendas are aggressively gearing towards climate change strategies and funding the United Nations (UN) Sustainable Development Goals (SDGs). The total investment gap for successfully achieving the 169 targets in developing countries is estimated at USD2.5 trillion per year (UNCTAD 2020). Unfortunately, limited data and challenges in data consensus have significantly inhibited monitoring bodies' ability to accurately determine how much and where it is needed. Furthermore, developing countries have been slow in developing sustainable fund structures and even slower in attracting impact investment for the SDGs (UNCTAD 2019). Impact investing is defined as "investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return" (Global Impact Investing Network 2019). Once embraced as a mainstream funding vehicle, impact or sustainable investing is expected to enable the public and private sectors in reaching their SDGs targets.

  • Publication
    VBIT and VBI: a long-term response to sustainable takaful?
    Ziyaad Mahomed (INCEIF, 2021)

    The sustainability agenda has increased in prominence as climate change wreaks havoc across vulnerable areas globally. Over the last two decades, the substantial increase in weather-related events, human displacement, and loss due to conflict and contagion have nudged global leaders to drive more sustainable policies for a better world. Financial institutions, as funders of the largest contributor to climate change, the industrial complex, have also been required to adopt sustainable policies through several responsible, ethical or Environmental, Social, and Governance (ESG) frameworks such as 6 United Nations Principle for Responsible Investment (PRI), 17 United Nations Sustainable Development Goals (SDGs), etc. The significant cost of damages has been increasing exponentially.

  • Publication
    Trade-off between health and wealth?
    Noor Haini Akmal Abu Bakar; Wiaam Hassan; Shinaj Valangattil Shamsudheen; Kinan Salim; Baharom Abdul Hamid; Ziyaad Mahomed (INCEIF, 2020)

    Recent statistics released by the IMF (Figure 1) provide a comparative on the significant impact that COVID-19, and the lockdown in fighting and containing the pandemic has on global economies. The IMF forecasts that the impact is expected to be more devastating than the growth experienced in the aftermath of the Global financial crisis in 2009. The Euro area is where the most severe impact is envisaged, with estimates of economic contraction at almost 8%. This is followed by the United States with an estimated contraction of 6% and Japan contracting slightly more than 5%. China and India are expected to post positive growth at 2% and 1% respectively.

  • Publication
    Does innovation in sukuk structure create value? A study of post-crisis sukuk wealth effects in Malaysia
    Shamsher Mohamad Ramadili Mohd; Ziyaad Mahomed (2017)

    The slides highlight: 1) the overview of sukuk in Malaysia; 2) the research objectives and questions, research gaps, research methodology, and findings on wealth effects.

  • Publication
    Wealth effect of sukuk issuance announcement in two markets
    Mohamed Ariff; Shamsher Mohamad Ramadili Mohd; Ziyaad Mahomed (Edward Elgar Publishing Limited, 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.

  • Publication
    Occupational risk & the urgency for frontliner protection
    Shinaj Valangattil Shamsudheen; Wiaam Hassan; Baharom Abdul Hamid; Ziyaad Mahomed (INCEIF, 2020)

    The Department of Labour in the US recently released their COVID-19 Occupational Risk Score. The statistics are based on their Purchasing Power Parity, the homogeneity of the job description and the risk of exposure to COVID-19. The figure above may be used to depict a more generic occupational risk correlated with salary grades, that are experienced internationally, including Malaysia. The Occupational Risk Score can be divided into four quadrants: i. high income-low risk, ii. high income-high risk, iii. low income-high risk, and iv. low income-low risk. Those with the highest exposure to infection include what is now termed as the 'frontliners'. These include doctors, nurses, and other medical officers and officials, police & army, and volunteers (RELA) entrusted to enforce the movement control orders (MCO). Immigration and other enforcement officers stationed at entry and exit points are also amongst those facing the highest levels of occupational risk.

  • Publication
    Islamic capital market: sukuk
    Ziyaad Mahomed (RAM Holdings Berhad, 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 underlying 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.

  • Publication
    Are gig workers protected? A possible solution
    Mohsin Ali; Hafezali Iqbal Hussain; Qasim Ali Nisar; Chang Yenwen; Baharom Abdul Hamid; Ziyaad Mahomed; Ziyaad Mahomed; Baharom Abdul Hamid (2023)

    The gig economy represents a relatively contemporary phenomenon that remains insufficiently examined or documented in academic literature. The term "gig economy" pertains to labour markets characterised by short-term, intermittent, on-demand, and predominantly task-oriented employment arrangements. Due to its non-traditional nature, part-time employment typically lacks the comprehensive benefits and safeguards associated with full-time employment. To gain a comprehensive understanding of the gig economy market, we utilise the partial least squares structural equation modelling technique. This approach allows us to specifically examine the factors that significantly contribute to the low insurance penetration among the gig economy workforce. In order to achieve our objective, we have gathered data from a total of 374 participants. Our research indicates that gig workers are facing a significant lack of coverage, and they express a willingness to enrol in a flexible and customised takaful product.

  • 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
    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'.