Staff profile

Before joining Durham University as the Sharjah Chair, Habib Ahmed was Manager, Research and Development, Islamic Banking Development Group, The National Commercial Bank (NCB), Kingdom of Saudi Arabia. He also worked at Islamic Research & Training Institute of the Islamic Development Bank Group, Saudi Arabia and taught at the University of Connecticut, USA, National University of Singapore, and University of Bahrain. He has been a member of the Capital Adequacy Working Group of Islamic Financial Services Board (IFSB) which is responsible for, among others, setting standards and guidelines for Islamic banks and financial institutions.

He was awarded IsDB Prize for Impactful Achievement in Islamic Economics (First Prize) in 2022 for his contributions to research in Islamic economics and finance. Professor Ahmed has been appointed as Fellow (Honorary) at the Cambridge Judge Business School, University of Cambridge in May 2023.

Mini Biography

Before joining Durham University as the Sharjah Chair, Habib Ahmed was Manager, Research and Development, Islamic Banking Development Group, The National Commercial Bank (NCB), Kingdom of Saudi Arabia. He also worked at Islamic Research & Training Institute of the Islamic Development Bank Group, Saudi Arabia and taught at the University of Connecticut, USA, National University of Singapore, and University of Bahrain.

• Islamic Economics and Finance
• Contemporary applications of Islamic commercial law
• Economics of law
• Non Profit Organisations and Waqf

• Economics & Finance Department
• Ethical Finance Accountability and Governance
• Organisations and Society

Authored book

• Ahmed, Habib (2011). Product Development in Islamic Banks. Edinburgh: Edinburgh University Press.
• Ahmed, Habib (2007). 'Issues in Islamic Corporate Finance: Capital Structure in Firms'. Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.
• Ahmed, Habib (2005). 'Operational Format for Islamic Equity Finance: Lessons from Venture Capital'. Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.
• Ahmed, Habib (2004). 'Role of Zakat and Awqaf in Poverty Alleviation'. Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.
• Ahmed, Habib (2002). 'A Microeconomic Model of an Islamic Bank'. Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.
• Ahmed, Habib & Chapra, M. Umer (2002). 'Corporate Governance in Islamic Financial Institutions'(Translated into Arabic). Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.
• Ahmed, Habib & Khan, Tariqullah (2001). 'Risk Management: An Analysis of Issues in Islamic Financial Industry'(Translated into Arabic and French). Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.
• Ahmed, Habib (2001). 'Exchange Rate Stability: Theory and Policies from an Islamic Perspective'. Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group.

Chapter in book

• Ahmed, Habib (2020). The Islamic social sector (zakat and waqf) and development: principles, status and prospects. In Islamic and International Development: Insights for working with Muslim Communities. Khan, Ajaz Ahmed & Cheema, Affan Practical Action Publishing, Rugby.
• Ahmed, H. (2018). The Challenge Facing Islamic Banking and Finance: Has it Moved Away from its Core Objectives, with Special Reference to Maqasid. In The Objectives of Islamic Law: The Promises and Challenges of the Maqasid al-Shari’a. Nassery, I., Ahmed, R. & Tatari, M. Lexington Books.
• Ahmed, Habib (2017). Taking Takaful to the Next Level. In Realising the Value Proposition of the Takaful Industry for a Stable and Inclusive Financial System. Islamic Financial Services Board and World Bank.
• Ahmed, H. & Binmahfouz, S. (2015). Investigation into the Managerial Investment Skills of Islamic and Conventional Equity Mutual Fund Managers in Saudi Arabia. In Islamic finance: political economy, performance and risk. Volume 3, Performance and efficiency. Asutay, Mehmet & Turkistani, Abdullah Q. Berlin: Grelach Press. 3.
• Ahmed, H. (2015). Legal Environment for Islamic Banks: Status in Selected Gulf Cooperation Council Countries. In Islamic finance: political economy, performance and risk. Volume 1, Political economy, values and innovation. Asutay, Mehmet & Turkistani, Abdullah Q. Berlin: Grelach Press.
• Ahmed, H. (2014). Analytical tools of Islamic economics: choice and the equi-marginal principle. In Handbook on Islam and Economic Life. Hassan, M. Kabir & Lewis, Mervyn K. Cheltenham: Edward Elgar. 90-110.
• Ahmed, Habib (2013). 'Financial Inclusion and Islamic Finance: Organizational Formats, Products, Outreach and Sustainability'. In Economic Development and Islamic Finance. Iqbal, Zamir & Mirakhor, Abbas The World Bank, Washington DC. 203-229.
• Ahmed, Habib (2012). 'Waqfs'. In Encyclopedia of Global Studies. Helmut K. Anheier Mark Juergensmeyer & Victor Faessel Sage Publications, Thousand Oaks.
• Ahmed, Habib (2012). 'Organizational models of Islamic microfinance'. In Shari'a Compliant Microfinance. S. Nazim Ali Routledge. 17-32.
• Ahmed, Habib (2011). 'Waqf-Based Microfinance: Realizing the Social Role of Islamic Finance'. In Essential Readings in Contemporary Waqf Issues. Monzer Kahf & Siti Mashitoh Mahamood CERT, Kuala Lumpur.
• Ahmed, Habib (2009). 'The Methodology of Islamic Economics'. In Encyclopedia of Islamic Economics, Principles, Definitions & Methodology. M.N. Siddiqi Yildiz A.S., Istanbul. 177-185.
• Ahmed, Habib & Khan, Tariqullah (2007). 'Risk Management in Islamic Banking'. In Handbook on Islamic Banking. Hassan, M. Kabir & Lewis, Mervyn K. Edward Elgar.
• Ahmed, Habib (2006). 'Withdrawal Risk in Islamic Banks, Market Discipline and Bank Stability'. In Islamic Financial Architecture: Risk Management and Financial Stability. Khan, Tariqullah & Muljawan, Dadang Jeddah: Islamic Research and Training Institute, Islamic Development Bank Group. 457-477.
• Ahmed, Habib (2005). 'The Islamic Financial System and Economic Growth: An Assessment'. In Islamic Finance and Economic Development. Iqbal, Munawar & Ahmad, Ausaf New York: Palgrave Macmillan. 29-48.
• Ahmed, Habib (2002). 'Incentive Compatible Profit-Sharing Contracts: A Theoretical Treatment'. In Islamic Banking and Finance: New Perspectives in Profit Sharing and Risk. Iqbal, Munawar & Llewellyn, David T. Edward Elgar. 40-54.

Edited book

• Ahmed, Habib & Hassan, Zubair (2016). Macroeconomics from Islamic Perspectives: Theory and Contemporary Issues. Jeddah: Islamic Research and Training Institute.
• Ahmed, H., Asutay, M. & Wilson, R. (2014). Islamic Banking and Financial Crisis: Reputation, Stability and Risks. Edinburgh: Edinburgh University Press.
• Ahmed, Habib & Muhammad Sirajul Hoque (2011). Handbook of Islamic Economics, Vol I, Exploring the Essence of Islamic Economics. Islamic Research & Training Institute, Islamic Development Bank Group, Jeddah.
• Ahmed, Habib & Iqbal, Munawar (2005). Poverty in Muslim Countries and the New International Economic Order. New York: Palgrave Macmillan.
• Ahmed, Habib (2002). Theoretical Foundations of Islamic Economics. Book of Readings No. 3. Jeddah: Islamic Research and Training Institute, Islamic Development Bank, Jeddah.

Journal Article

• Elsayed, Ahmed H., Ahmed, Habib & Husam Helmi, Mohamad (2023). Determinants of financial stability and risk transmission in dual financial system: Evidence from the COVID pandemic. Journal of International Financial Markets, Institutions and Money 85: 101784.
• Ahmed, Habib & Aassouli, Dalal (2022). Entrepreneurial finance, agency problems and Islamic ethics: complementarities and constraints. Venture Capital
• Abdelsalam, O, Elnahass, M, Ahmed, H & Williams, J (2022). Asset Securitizations and Bank Stability:Evidence from Different Banking Systems. Global Finance Journal 51: 100551.
• AlQassar, A. & Ahmed, H. (2022). Regulatory Regimes for Shariah Governance: A Framework of Assessment and Analysis. Journal of Banking Regulation 23(2): 139-154.
• Raouf, Hajar & Ahmed, Habib (2022). Risk Governance and Financial Stability: A Comparative Study of Conventional and Islamic Banks in the GCC  . Global Finance Journal 52: 100599.
• Moqbel, T & Ahmed, H (2020). Flexibility and Shari'ah Compliance of Islamic Financial Contracts: An Evaluative Framework. Arab Law Quarterly 35(1-2): 92-115.
• Basiruddin, R. & Ahmed, H. (2019). Corporate governance and shariah noncompliant risk in Islamic banks: Evidence from Southeast Asia. Corporate Governance 20(2): 240-262.
• Ahmed, H., Ariffin, F., Karbhari, Y. & Shafii, Z. (2019). Diverse Accounting Standards on Disclosures of Islamic Financial Transactions: Prospects and Challenges of Narrowing Gaps. Accounting, Auditing & Accountability Journal 32(3): 866-896.
• Rizaldy, M. R. & Ahmed, H. (2019). Islamic legal methodologies and Shariah screening standards: application in the Indonesian stock market. Thunderbird International Business Review 61(5): 793-805.
• Alziyadat, N. & Ahmed, H. (2019). Ethical Decision-Making in Islamic Financial Institutions in Light of Maqasid Al-Sharia: A Conceptual Framework. Thunderbird International Business Review 61(5): 707-718.
• Al Mannai, M. & Ahmed, H. (2019). Exploring the workings of Shari’ah Supervisory Board in Islamic finance: a perspective of Shari’ah scholars from GCC. Quarterly Review of Economics and Finance 74: 97-108.
• Ahmed, H. & Elsayed, A. (2019). Are Islamic and Conventional Capital Markets Decoupled? Evidence from Stock and Bonds/Sukuk Markets in Malaysia. Quarterly Review of Economics and Finance 74: 56-66.
• Hasan, A.f.S., Karbhari, Y. & Ahmed, H. (2019). Religious Governance, Regulation and Standardisation: Evidence from Malaysian Islamic Banks. International Journal of Business Governance and Ethics 15(1).
• Ahmed, H. & Ibrahim, I.R. (2018). Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework. Journal of Consumer Policy 41(2): 159-175.
• Ahmed, H. & Salleh, H. (2016). Inclusive Islamic Financial Planning: A Conceptual Framework. International Journal of Islamic and Middle Eastern Finance and Management 9(2): 170-189.
• Fauziah Nasution, R. E. & Ahmed, H (2015). Outreach and Profitability Trade-off: Does Synergy between Islamic Banking and Islamic Microfinance Institutions Matter? Indonesian Capital Market Review 7(2): 57-73.
• Kasri, R. & Ahmed, H. (2015). Assessing Socio-Economic Development based on Maqāṣid al-Sharīʿah Principles: Normative Frameworks, Methods and Implementation in Indonesia. Islamic Economic Studies 23(1): 73-100.
• Ahmed, H. (2015). Basel III liquidity requirement ratios and Islamic banking. Journal of banking regulation 16(4): 251-264.
• Ahmed, H. & Mohammad, A.N. (2014). Debate on Tawarruq: Historical Discourse and Current Rulings. Arab Law Quarterly 28(3): 278-294.
• BinMahfouz, Saeed & Ahmed, Habib (2014). 'Shariah Investment Screening Criteria: A Critical Review'. Journal of King Abdulaziz University: Islamic Economics 27(1): 111-145.
• Ahmed, H. (2014). Islamic Banking and Shari’ah Compliance: A Product Development Perspective. Journal of Islamic Finance 3(2): 15-29.
• Ahmed, H. (2014). Microtakaful: Financial inclusion and microtakaful. Middle Eastern Insurance Review 56-57.
• Dian Masyita & Habib Ahmed (2013). Why is Growth of Islamic Microfinance Lower than its Conventional Counterparts in Indonesia? Islamic Economic Studies 21(1): 35-62.
• Ahmed, Habib (2012). 'Islamic Law, Investors' Rights and Corporate Finance'. Journal of Corporate Law Studies 12 (2): 367-392
• Ahmed, Habib (2012). The Islamization of Economies and Knowledge: A New Institutional Economics Perspective. American Journal of Islamic Social Sciences 29(4): 22-45.
• Ahmed, Habib (2011). Maqasid al-Shari’ah and Islamic Financial Products: A Framework for Assessment. ISRA International Journal of Islamic Finance 3(1): 149-160.
• Ahmed, Habib (2011). Risk Management Assessment Systems: An Application to Islamic Banks. Islamic Economic Studies 19 (1): 63-86.
• Ahmed, Habib (2011). Shar'iah Governance Regimes for Islamic Finance: Types and Appraisal -I regimi di governance conformi alla shari’ah nella finanza islamica: tipologia e valutazione. Economia Internazionale - International Economics 64(4): 393-412.
• Ahmed, Habib (2010). Islamic Finance at a crossroads: the dominance of the asset-based sukuk. Butterworths Journal of International Banking and Financial Law 25(6): 366-67
• Ahmed, Habib (2009). 'Financial Crisis: Risks and Lessons for Islamic Finance'. ISRA International Journal of Islamic Finance 1(1): 7-32.
• Ahmed, Habib (2008). 'Zakah, Macroeconomic Policies and Poverty Alleviation: Lessons from Simulation on Bangladesh'. Journal of Islamic Economics, Banking and Finance 4(2).
• Ahmed, Habib, Hallwood, C. Paul & Miller, Stephen M. (2008). The Exchange Rate Investment Nexus and Exchange Rate Instability: Another Reason for ‘Fear of Floating’. KEIO Economic Studies 45: 49-79.
• Ahmed, Habib (2006). 'Islamic Law, Adaptability and Financial Development'. Islamic Economic Studies 13(2): 79-101.
• Ahmed, Habib (2004). 'Frontiers of Islamic Banking: A Synthesis of Social Role and Microfinance'. The European Journal of Management and Public Policy 3(1): 120-140.
• Ahmed, Habib (2002). 'Financing Microenterprises: An Analytical Study of Islamic Microfinance Institutions'. Islamic Economic Studies 9(2): 27-64.
• Ahmed, Habib & Miller, Stephen M. (2002). 'The Level of Development and the Determinants of Productivity Growth: A Cross-Country Analysis'. Applied Economics 34: 1089-1095.
• Ahmed, Habib & Dua, Pami (2001). Effects of Monetary Variables on Real Output: Sensitivity Analysis. Applied Economics Letters 8: 65-69.
• Ahmed, Habib & Stephen M. Miller (2000). Crowding-out and crowding-in effects of the components of government expenditure. Contemporary Economic Policy 18(1): 124-133
• Ahmed, Habib (1999). 'The Operating Format of Microfinance Schemes and the Core Poor under Persistent Shocks'. Savings and Development 23 (1): 57-67
• Ahmed, Habib (1998). 'Responses in Price and Output to Monetary Shocks and the Interest Rates: A Rational Expectations Model with Working Capital'. Economics Letters 61: 351-58.
• Ahmed, Habib & Tongzon, Jose (1998). An Investigation of Economic Linkages among ASEAN Group of Countries. ASEAN Economic Bulletin 15 (2): 121-36.
• Ahmed, Habib & Miller, Stephen M. (1997). 'Monetary and Exchange Rate Policies in Multisectoral Economies'. Journal of Business and Economics 49(4): 321-34.
• Ahmed, Habib & Randolph, Susan (1995). Liquidity Constraints, Productivity, Employment, and Output: Evidence from Nonagricultural Activities in Bangladesh. Journal of International Trade and Economic Development 4(3): 283-304.

Newspaper/Magazine Article

• Ahmed, Habib (2013). Islamic Wealth Management: Goals and Instruments. The Q Report Issue No. 1 / 2013: 26-30.
• Ahmed, Habib (2012). A different perspective on the financial crisis. Papers of Dialogue 3: 18-19.
• Ahmed, Habib (2012). Defining Ethics in Islamic Finance: Looking Beyond Legality. NewHorizon 184, July-September 2012: 20-26
• Ahmed, Habib (2011). Waqf as a Sustainable Social Enterprise: Organisational Architecture and Prospects. Global Islamic Finance 32-39.