Dr. Syed Marwan Mujahid Syed Azman
Assistant Professor
Institute of Islamic Banking and Finance (IIiBF)
Social Finance, Social Impact Bonds, SRI Sukuk, Social Impact Evaluation
Syed Marwan serves as an Assistant Professor and ICT Coordinator at the Institute of Islamic Banking and Finance (IIiBF), within the International Islamic University Malaysia (IIUM).
He earned his Degree of Commerce, majoring in Economics & Finance, from the University of Melbourne, before achieving his Chartered Islamic Finance Professional (CIFP) qualification at the International Centre for Education in Islamic Finance (INCEIF). He completed his PhD at IIiBF, focusing his research on Social Impact Bonds.
His professional journey in the finance industry includes roles such as an Analyst at Kuwait Finance House Research in 2013 and participation in an industrial attachment through the CEO@Faculty fellowship program at Maybank Group, under the guidance of its CEO of Human Capital dmore...
Syed Marwan serves as an Assistant Professor and ICT Coordinator at the Institute of Islamic Banking and Finance (IIiBF), within the International Islamic University Malaysia (IIUM).
He earned his Degree of Commerce, majoring in Economics & Finance, from the University of Melbourne, before achieving his Chartered Islamic Finance Professional (CIFP) qualification at the International Centre for Education in Islamic Finance (INCEIF). He completed his PhD at IIiBF, focusing his research on Social Impact Bonds.
His professional journey in the finance industry includes roles such as an Analyst at Kuwait Finance House Research in 2013 and participation in an industrial attachment through the CEO@Faculty fellowship program at Maybank Group, under the guidance of its CEO of Human Capital during 2020-2021.
His teaching portfolio encompasses key subjects such as Principles of Economics, Islamic Economics, Financial Systems, Waqf, and Sustainable Development, showcasing a broad and impactful academic commitment.
He has been involved in notable research projects, being the Principal Investigator for a completed project, “Social Impact Performance Measurement Model for Islamic Financial Institutions: Integrating Sustainable Development Goals (SDGs), Value-Based Intermediation (VBI), and Maqasid al-Shariah”.
Currently, he is the Principal investigator for an ongoing project, “Development of Social Impact Measurement Framework for Elderly Care Centres in Malaysia” and co-Researchers for other ongoing sponsored research projects: “Humanitarian Sukuk: Developing an Alternative Financial Tool in Addressing the Refugee Crisis,” funded by Fundamental Research Grant Scheme (FRGS); “Contemporary Corporate Practices from the Perspective of Islamic Ethics”, funded by Maybank Islamic; and private sponsored projects: “Pioneering Waqf Healthcare Haven for Elderly People: A Sustainable Longterm Care Solution”; “Assessing the Financial Vulnerability of the Elderly Citizen in the B40 Community, Malaysia”; and “Developing Takaful Products and Framework for Holistic Protection of Senior Citizens in the Malaysian Ecosystem”.
His significant contributions through writings and research in the fields of Sustainable & Responsible Investment (SRI), Social Impact Bonds (SIB), and impact measurement demonstrate his dedication to promoting ethical and socially responsible finance.
ACADEMIC BACKGROUND
1. PhD, International Islamic University Malaysia (IIUM), Institute of Islamic Banking and Finance (IIiBF). (2014-2018)
•Research area in Social Impact Bonds, Islamic Social Finance, social impact, and SRI sukuk.
•Thesis entitled: “An Exploratory Study on Shari’ah-compliant Social Impact Bonds in Malaysia: Stakeholders’ Perspective”
2. Chartered Islamic Finance Professional (CIFP), International Centre for Education in Islamic Finance (INCEIF). (2011-2013)
•Postgraduate certification, equivalent to Masters, fully accredited by MQA.
•10 A’s (CGPA: 3.714).
3. Bachelor of Commerce, The University of Melbourne, Melbourne, Australia. (2009-2011)
•Majors in Economics and Finance.
Latest Additions
- Syed Azman, Syed Marwan Mujahid (2024) Advancing halal industry with tayyib and sustainability. @Halal, 6 (November-Disember). pp. 20-21. ISSN 2682-8277
- Syed Azman, Syed Marwan Mujahid and Shaharuddin, Siti Saffa (2025) Green Sukuk: issues, challenges and the way forward. In: Islamic Green Finance: A Research Companion. Routledge.
- Riyadi, Hamidah Asma and Syed Azman, Syed Marwan Mujahid (2024) Digitalisation impact on Indonesia labour market: SWOT-TOWS analysis with Islamic economic principles. Journal of Islamic Finance, 13 (1). pp. 91-108. ISSN 2289-2109 E-ISSN 2289-2117
- Syed Azman, Syed Marwan Mujahid and Shaharuddin, Siti Saffa and Zain, Nor Syahirah (2024) Islamic sustainable finance: how does SRI sukuk matter? In: Islamic Finance and Sustainable Development: A Global Framework for Achieving Sustainable Impact Finance. Islamic Business and Finance Series . Routledge, pp. 171-184. ISBN 978-103274307-3
- Zain, Nor Syahirah and Hassan, Rusni and Syed Azman, Syed Marwan Mujahid (2023) Social impact measurement as a tool of governance and accountability for waqf organisations. International Journal of Islamic Economics and Finance Research (1 Special Issue). pp. 132-148. E-ISSN 2636-9419
- Syed Azman, Syed Marwan Mujahid and Ismail, Suhaiza and Engku Ali, Engku Rabiah Adawiah and Haneef, Mohamed Aslam (2024) Factors influencing intention to invest in Shariah-compliant social impact bonds in Malaysia. Journal of Islamic Accounting and Business Research, 15 (8). pp. 1338-1358. ISSN 1759-0817
- Said Al Salmani, Said Rashid and Syed Azman, Syed Marwan Mujahid (2024) Budget deficit in the early Islamic history: a review of the literature and examination of the historical evidence. In: International Conference on Business and Technology (ICBT 2023), 1st - 2nd November 2023, Istanbul, Turkey.
- Misman, Siti Nursyawani and Mohd Salimin, Mohd Ariff and Farjan Ali, Rahimah and Adnan, Ieman Huda and Kassim, Salina and Syed Azman, Syed Marwan Mujahid (2023) Addressing negative spillover effects of overcrowding in Malaysian prisons: can Islamic financial institutions play a role? In: Islamic Sustainable Finance, Law and Innovation: Opportunities and Challenges. Contributions to Management Science (1). Springer, Cham, pp. 323-333. ISBN 978-3-031-27859-4
- Syed Azman, Syed Marwan Mujahid (2022) Coming together: a comprehensive overview of the transdisciplinary perspectives of school belonging. In: Handbook of Positive Psychology in Schools. Educational Psychology Handbook Series (3rd edition). Routledge, New York, USA, pp. 246-266. ISBN 9780367855864
- Mohtesham, Mohammed Meeran Jasir and Syed Azman, Syed Marwan Mujahid (2023) Social impact measurement of Waqf: case study of Waqf organisations in Karnataka, India. AZKA International Journal Of Zakat & Social Finance (AZJAF), 4 (2). pp. 199-218. ISSN 2735-1890 E-ISSN 2716-6643
- Syed Azman, Syed Marwan Mujahid and Noordin, Nazrul Hazizi (2023) KWSP bersasar perlu ikut Islam. Utusan Malaysia, 20 Mar 2023.
- Syed Azman, Syed Marwan Mujahid and Noordin, Nazrul Hazizi (2023) Kawal pengeluaran caruman KWSP elak implikasi jangka panjang. Berita Harian, 20 Mar 2023. p. 12.
- Syed Azman, Syed Marwan Mujahid and Ismail, Suhaiza and Haneef, Mohamed Aslam and Engku Ali, Engku Rabiah Adawiah (2024) Critical success factors of implementing sustainable and responsible investment (SRI) Sukuk for economic recovery from COVID-19 pandemic. Journal of Economic and Administrative Sciences, 40 (4). pp. 798-818. ISSN 2054-6238 E-ISSN 2054-6246
- Syed Azman, Syed Marwan Mujahid and Ismail, Suhaiza and Haneef, Mohamed Aslam and Engku Ali, Engku Rabiah Adawiah (2022) An empirical comparison of sustainable and responsible investment sukuk, social impact bonds and conventional bonds. ISRA International Journal of Islamic Finance, 14 (3). pp. 256-273. ISSN 2289-4365
- Syed Azman, Syed Marwan Mujahid and Syed Jaafar Alhabshi, Syed Musa and Redzuan, Nur Harena (2022) A proposal for social impact measurement framework for digital banks in Malaysia. In: 2nd Karatay International Conference on Islamic Economics and Finance (KARCIEF 2022), 17-18 June 2022, Turkey and Hybrid. (Unpublished)
- Syed Azman, Syed Marwan Mujahid (2021) Mother T.I.G.E.R leadership. In: Charting the course beyond the Horizon: how to uplift your team and transform your organization. Penerbit UTeM Press, Melaka, pp. 181-190. ISBN 978-967-2454-70-0
- Saffa, Siti and Syed Azman, Syed Marwan Mujahid (2021) Misconception Of Zakat And Distributive Justice In Islam: Case Study Of Zakat Institutions In Malaysia. In: 9th ASEAN Universities International Conference on Islamic Finance, 17-19 November 2021, Royal Ambarrukmo Hotel, Yogyakarta, Indonesia. (Unpublished)
- Syed Azman, Syed Marwan Mujahid and Haneef, Mohamed Aslam and Engku Ali, Engku Rabiah Adawiah and Ismail, Suhaiza (2021) Beyond Shari‘ah compliance: achieving Maqasid Al-Shari‘ah through Social Impact Bonds (SIB) and Sustainable & Responsible Investment (SRI) Sukuk. In: Pembinaan tamadun melalui industri patuh Syariah Volum 1: Ekonomi, kewangan dan pengurusan patuh Syariah. Kolej Profesional Baitulmal Kuala Lumpur (KPBKL), pp. 350-362. ISBN 9789671684337
- Wan Fakhruddin, Wan Farah Wani and Shukor, Siti Shuhaida and Mad Nordin, Mariam Firdhaus and Ghazali, Masitah and Abdul Rahman, Abdul Rahimi and Norizan, Mohd Natashah and Zanudin, Asfarina and Talib, Muhamad Lazim and Abdul Razak, Fatimah and Israr Ahmad, Haris Ahmad and Shahidan, Norshazila and Iberahim, Nurul Aqilah and Mohamed Sultan, Suhana and Mohammad, Nurul Farahain and Syed Azman, Syed Marwan Mujahid and Mat Isa, Nurulfiza and Jamaludin, Ummu Kulthum and Sarchio, Seri Narti Edayu and Wan Ismail, W Omar Ali Saifuddin and Ahmad Sobr, Sharizal (2021) Strengthening government-university-industry and community collaboration. Penerbit UMT, Universiti Malaysia Terengganu, Malaysia. ISBN 978-967-2939-59-7
- Jasir Mohtesham, Mohammed Meeran and Syed Azman, Syed Marwan Mujahid and Hai, Abdul and Shahid, Mohd (2021) An assessment of using sukuk for waqf property development in India. Journal of Islamic Finance, 10 (1 (Special Issue)). pp. 85-91. ISSN 2289-2109 E-ISSN 2289-2117