Staff Directory


Norma Bt Md Saad

Academic Qualification

  • Ph.D in Economics Development & Regional Economics - Doctor of Philosophy, Temple University, Philadelphia
  • Master in Economics - Masters Degree, Texas Technology University
  • Bachelor International Economics - Bachelor Degree, University of Utah
  • Bachelor in American Assoc - Bachelor Degree, Indiana University

Norma Bt Md Saad (Prof. Dr.)

Professor
IIUM Gombak Campus

KULLIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES


norma@iium.edu.my
4612


Expert Profile


Professor Dr. Norma Md Saad started her career at IIUM as an Assistant Professor. Her areas of specialization are International Trade, Islamic Economics (Waqaf and Zakat) and Islamic Finance (specializing in Islamic microfinance). Her teaching and research have focused on Islamic banking and finance, intra-trade patterns of major economic blocs and their impact on regional integration. She is also actively doing research on the area of Islamic Economics and Finance investigating the efficiency of corporate entities in managing Waqf institutions in Malaysia and other selected countries.
She has also been commissioned by the International Shariah Research Academy in Islamic Finance (ISRA) to conduct a study analyzing the current structure of Islamic banking in Malaysia to provide policy recommendations to the regulator of Islamic banking and finance in Malaysia. Prof. Norma has published a few books (including chapters in books) in the areas of Islamic Finance, International Trade, Macroeconomics and Business Mathematics. She has also published some of her works in the internationally recognized refereed journals.


Area of Specialisation


  • Economics, Business And Management ~ Economics, Business And Management ~ Economics/Applied Economics ~ International Economics - Foreign direct investment, economic integration, intra trade
  • Economics, Business And Management ~ Economics, Business And Management ~ Islamic Finance ~ Other Islamic Finance n.e.c. - Takaful, Waqaf, Zakat, Microfinance
  • Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Capital Market - Islamic capital market
  • Economics, Business And Management ~ Economics, Business And Management ~ Islamic Finance ~ Islamic Banking - Efficiency of Islamic banks


Teaching Responsibilities


APPLIED RESEARCH METHODS 2000/2001
ASEAN ECONOMIES 2019/2020
BUSINESS MATHEMATICS 2023/2024 2022/2023 2020/2021 2008/2009 2007/2008 2006/2007 2005/2006 2004/2005 2003/2004 2002/2003 2001/2002 2000/2001 1999/2000
ECONOMICS IN THE QUR'AN & SUNNAH 2017/2018 2016/2017
ECONOMICS THEORY 2001/2002
GLOBALIZATION AND REGIONAL ECONOMIC POWERS 2004/2005
INTERNATIONAL ECONOMICS 2023/2024 2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2009/2010 2008/2009 2007/2008 2006/2007 2005/2006 2004/2005 2003/2004 2002/2003 2001/2002 1999/2000
INTERNATIONAL TRADE AND DEVELOPMENT 2000/2001
INTRODUCTION TO ECONOMICS 1999/2000
INTRODUCTORY ECONOMICS FOR ENGINEERING 1994/1995
ISLAMIC BANKING AND FINANCE 2021/2022 2020/2021 2019/2020 2018/2019 2016/2017 2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2009/2010
ISLAMIC BANKING SYSTEM & OPERATIONS 2022/2023 2017/2018 2014/2015 2013/2014
ISLAMIC BANKING SYSTEM AND OPERATIONS 2023/2024
MATHEMATICS FOR ECONOMICS AND BUSINESS 2023/2024
PRINCIPLES OF MACROECONOMICS 1994/1995
PRINCIPLES OF MICROECONOMICS 2000/2001
USRAH IN ACTION 1 2021/2022
USRAH IN ACTION 2 2022/2023


Supervision


Impact Assessment Of Conventional And Islamic Microfinance And Its Implication On Poverty Alleviation In Northern Nigeria.
Ph.D Completed 2013 Main Supervisor
Waqf Management And Fund Raising: A Study On Waqf-Based Pasantrens In Indonesia .
Ph.D Completed 2022 Main Supervisor
Towards Developing An Integrated Cash-Waqf Microenterprise Support For Refugees Model To Enhance Their Livelihood And Self-Reliance.
Ph.D Completed 2016 Co-supervisor
Determinants Of Sustainability Of Waqf Institutions For Poverty Alleviation :A Case Study Of Zamfara State, Nigeria.
Ph.D Completed 2016 Co-supervisor
Private Health Insurance In Malaysia : Market Demand, Adverse Selection And Moral Hazard.
Ph.D Completed 2016 Co-supervisor
The Role Of Zakat In Poverty Alleviation And Income Inequality Reduction: A Case Study Of West Java, Indonesia .
Ph.D Completed 2019 Co-supervisor
Assessing The Impact Of Government Credit Guarantee Scheme (Kur) For Micro, Small And Medium Enterprises On Poverty Reduction In Indonesia.
Ph.D Completed 2021 Co-supervisor
The Economic Impact On Households And Poverty Alleviation On Islamic Microfinace In Cambodia.
Ph.D Completed 2022 Co-supervisor
The Effects Of The Government Policy On Natural Rubber Production In Malaysia: A Case Of Small Holdings.
Master Completed 2005 Main Supervisor
An Analysis Of The Performance And Efficiency Of Takaful And Insurance Industries In Brunei Darussalam And Malaysia.
Master Completed 2008 Main Supervisor
Explaining Customer Behavioural Intention In Using Islamic Credit Card : A Case Study Of Islamic Banks' Customers In Jakarta.
Master Completed 2014 Main Supervisor
Cash Waqf:The Knowledge Of Cash Waqf To Influence The Public.
Master Completed 2014 Main Supervisor
The Concept Of Manihah In Development Of Sme And Economics.
Master Completed 2015 Main Supervisor
A Review Of Selected Proposals On The Conception Of Man In Islamic Economics.
Master Completed 2021 Main Supervisor


Research Projects


Completed
2020 - 2022 Designing the Operational Procedures for the i-Taajir IIUM - CIMB Islamic Entrepreneurship Pilot Project
2018 - 2021 INTERNATIONAL ECONOMICS AND MUSLIM COUNTRIES
2013 - 2016 Involvement of Corporate Entities in Waqaf Management: Experiences of Selected Waqaf Institutions
2012 - 2016 A Critical Analysis of the Current Islamic Banking Structure in Malaysia: Issue & Policy Implications
2012 - 2013 Towards an Application of Musharakah Mutanaqisah Principle in Islamic Microgfinance
2011 - 2013 Enhancing the Efficiency of Waqaf Institutions in Malaysia: An Exploratory Study
2011 - 2012 Comparatives Analysis Of Customer Satisfaction On Islamic And Conventional Banks In Malaysia
2009 - 2010 Cash Waqaf and Islamic Microfinance-Untapped Economic Opportunities
2009 - 2011 An Analysis on the Efficiency of Takaful Companies in Malaysia: A Non- Parametric Approach
2007 - 2009 Measuring Efficiency of Unit Trust Companies In Malaysia : A non Parametric Approach
2007 - 2010 ECONOMIC IMPACT OF MICRO CREDIT PROGRAM IN MALAYSIA AND FEASIBILITY OF IMPLEMENTING ISLAMIC FINANCING PRODUCTS ; THE CASE OF AMANAH IKHTIAR MALAYSIA
2007 - 2008 Prospects for Future Economic Integration Between Malaysia and Selected OIC Countries
On-Going
2023 - Present An Impact Assessment of Islamic Microfinance Institutions on Achieving Sustainable Development Goals (SDGs): A Comparative Study in Bangladesh and Malaysia
2023 - Present KENMS-CIMBi Entrepreneurship Lab
2023 - Present Entrepreneurship Development Project (i-Taajir) 2.0 Cycle 1
2023 - Present Entrepreneurship Development Project 2.0: Monitoring Participants' Progress
2023 - Present Economics of Islamic Social Finance
2021 - Present Strategic Planning and Marketing Strategies for a Sustainable Asnaf Business Center
2020 - Present Constructing the Islamic Business Model for the i-Taajir IIUM - CIMB Islamic Entrepreneurship Pilot Project
2020 - Present Developing the Concept and Structure for the IIUM - CIMB Islamic Entrepreneurship Pilot Project
2016 - Present Developing a Framework for Halal Compliance: The Case of Poultry Industry in Malaysia


Award & Recognition


20 Sep, 2023 Certificate of Recognition as Agent of Change Towards Sustainability - Sejahtera Centre for Sustainability and Humanity University
01 Aug, 2023 Book Publication Award - Kulliyyah of Economics and Management Sciences KCDIO
01 Aug, 2023 Community Engagement Award, Takrim 2023 - Kulliyyah of Economics and Management Sciences KCDIO
01 Aug, 2023 Merit Award for Scholarship Community Engagement - Kulliyyah of Economics and Management Sciences KCDIO
01 Aug, 2022 Merit Award for Scholarship Community Engagement - Kulliyyah of Economics and Management Sciences KCDIO
27 Aug, 2019 Flagship Project Member Recognition - International Islamic University Malaysia University
24 Nov, 2011 Best Paper Award at the World Universities 1st Zakat Conference - JAWHAR and IKAZ, UiTM International


Publications


Article

2023 Empowering Rohingya refugees through Islamic microfinance: exploring prospects and challenges in Bangladesh. Journal of Islamic Social Finance, 1 (1) pp. 13-23
2023 Exploring the frontier in microfinance: faith-based and interfaith microfinance collaboration in conflict-affected environments. Journal of Islamic Finance, 12 (1) pp. 32-47
2023 Foreign aid and poverty reduction in developing countries: a systematic literature review. Conferencii: Interdisciplinary Research, Education and Innovation, 6 () pp. 4-7
2023 Government budgets and poverty reduction in developing countries: a systematic review of the role of social welfare programs and the challenges ahead. Economics and Finance, 11 (2) pp. 67-72
2022 The determinants of financial literacy among micro, small, and medium-sized enterprise (MSMEs) in Bangladesh and Malaysia. Journal of Entrepreneurship Education, 26 (Special Issue 1) pp. 1-13
2022 The governance structure of microfinance institutions: a comparison of models of sustainability and their implication on outreach. Asian Journal of Economics, Business and Accounting, 22 (19) pp. 104-123
2022 The impact of zakat in poverty alleviation and income inequality reduction from the perspective of gender in West Java, Indonesia. International Journal of Islamic and Middle Eastern Finance and Management, 15 (5) pp. 924-942
2021 Green microfinance promoting sustainable development goals (sdgs) in Bangladesh. Journal of Islamic Finance, 10 (1) pp. 011-018
2020 Governance structure of microfinance institutions: a comparison of models and its implication on social impact and poverty reduction. İbn Haldun Çalışmaları Dergisi, 5 (1) pp. 95-118
2020 Job satisfaction of female employees in microfinance institutions of Bangladesh. International Journal of Entrepreneurial Research, 3 (1) pp. 1-7
2020 Role of Islamic Microfinance Institutions for sustainable development goals in Bangladesh. Journal of International Business and Management, 3 (1) pp. 1-12
2020 The effect of zakat programs on the social impact of microfinance institutions in Bangladesh. International Journal of Zakat and Islamic Philanthropy, 2 (1) pp. 165-174
2019 Halal compliance in poultry industry: a review of regulatory system in Malaysia. International Journal of Academic Research in Business and Social Sciences, 9 (12) pp. 486-494
2019 The scope, opportunities and challenges of halal industry : some reflections. International Journal of Economics, Management and Accounting, 27 (2) pp. 397-421
2018 Determinants of awareness on Islamic microfinance among Cambodian Muslims. International Journal of Development and Sustainability, 7 (9) pp. 2227-2241
2018 Waqf fundraising management: a conceptual comparison between traditional and modern methods in the waqf institutions. Indonesian Journal of Islam and Muslim Societies, 8 (1) pp. 57-86
2018 Waqf fundraising management: a proposal for a sustainable finance of the Waqf institutions. Journal of Islamic Monetary Economics and Finance, 3 (Special Issue) pp. 153-178
2018 Zakat for poverty alleviation and income inequality reduction: West Java, Indonesia. Journal of Islamic Monetary Economics and Finance, 4 (1) pp. 85-100
2017 Cash waqf as an alternative panacea to poverty alleviation: An overview of human development in Nigeria. Turkish Journal of Islamic Economics, 4 (2) pp. 83-90
2017 Managing corporate Waqf in Malaysia: perspective of selected SEDCs and SIRCs. Jurnal Syariah, 25 (1) pp. 91-116
2017 The comparison between consumption and production-based zakat distribution programs for poverty alleviation and income inequality reduction. International Journal of Zakat, 2 (2) pp. 11-28
2017 The contribution of waqf institutions in Malaysia and Turkey in improving the socio-economic conditions of the society. Turkish Journal of Islamic Economics, 4 (1) pp. 1-29
2016 Integrated cash waqf micro-enterprise support model for enhancing refugee livelihood. The Islamic Quarterly, 60 (3) pp. 343-368
2016 Refugee microenterprises: prospects and challenges. Journal of Asian and African Social Science and Humanities, 2 (4) pp. 55-69
2015 Exploring the lived experiences of high-performance micro entrepreneurs in Malaysia: a hermeneutic approach. Social Science Asia: Official Journal of National Research Council of Thailand in conjunction with Asia Business and Economics Journal, 1 (1) pp. 60-72
2014 Assessing the impact of Islamic microfinance on poverty alleviation in Northern Nigeria. Journal of Islamic Economics, Banking and Finance, 10 (4) pp. 37-49
2014 The perception of micro-entrepreneurs and petty traders on conventional and Islamic microfinance: a case study of Pakistan. Journal of Islamic Finance, 3 (1) pp. 38-48
2013 Involvement of corporate entities in Waqaf management: experiences of Malaysia and Singapore. Asian Economic and Financial Review, 3 (6) pp. 736-748
2013 Towards adopting Zero Interest Loan (ZIL) and Profit and Loss Sharing (PLS) principle in Islamic microfinance: the case of Amanah Ikhtiar Malaysia. Journal of Islamic Finance, 2 (2) pp. 38-50
2013 Towards an application of musharakah mutanaqisah principle in Islamic microfinance. International Journal of Business and Society, 14 (2) pp. 212-223
2012 An analysis on the efficiency of takaful and insurance companies in malaysia: a non-parametric approach. Review of Integrative Business & Economics Research, 1 (1) pp. 33-56
2012 Comparative analysis of customer satisfaction on Islamic and conventional banks in Malaysia. Asian Social Science, 8 (1) pp. 73-80
2012 Microfinance and Prospect for Islamic Microfinance Products: The Case of Amanah Ikhtiar Malaysia. Advances in Asian Social Science, 1 (1) pp. 27-33
2011 An economic impact assessment of a microcredit program in Malaysia: the case of Amanah Ikhtiar Malaysia (AIM). International Journal of Business and Society, 12 (1) pp. 1-14
2011 Are there prospects for future economic integration among Muslim countries? Evidence from selected OIC countries. International Journal of Economics and Management, 5 (1) pp. 179-215
2011 Does trade among ASEAN members promote efficiency? sectoral evidence from the gravity model. International Journal of Humanities and Social Science, 1 (12) pp. 236-253
2011 Efficiency of life insurance companies in Malaysia and Brunei: a comparative analysis. International Journal of Humanities and Social Science, 1 (3) pp. 111-122
2011 Selecting high-income generating activities for micro-entrepreneurs: the case study of Amanah Ikhtiar Malaysia. International Journal of Humanities and Social Science, 1 (5) pp. 258-264
2010 A comparative analysis of the performance of conventional and Islamic unit trust companies in Malaysia. International Journal of Managerial Finance, 6 (1) pp. 24-47
2010 Achieving human development objectives through microfinance institution: the case of Amanah Ikhtiar Malaysia. Journal of Islamic Economics, Banking and Finance, 6 (2) pp. 65-78
2010 An analysis on the efficiency of the Malaysian Islamic banking industry: domestic vs. foreign. Review of Islamic Economics, 14 (1) pp. 27-47
2010 Determinants of economic performance of micro-credit clients and prospect of Islamic microfinance in Malaysia. ISRA International Journal of Islamic Finance, 2 (1) pp. 113-130
2009 'Cash waqf' and Islamic microfinance: untapped economic opportunities . Islam and Civilisational Renewal (ICR), 1 (2) pp. 337-354
2009 An analysis of export performance and economic growth of Malaysia using co-integration and error correction model. Journal of Developing Areas, 43 (1) pp. 217-231
2009 Cash waqaf and Islamic microfinance - untapped economic opportunities. IAIS Islam and Civilisational Renewal Journal, 1 (2) pp. 337-354
2009 Review of current practices of Islamic microcredit and microfinancing in selected Muslim countries. The Global Journal of Finance and Economics, 6 (1) pp. 73-92
2008 Does the trade structure among the league of Arab states show potential for a successful regional economic integration? . Journal of Economic Cooperation Among Islamic Countries, 29 (4) pp. 37-70
2006 Measuring efficiency of insurance and takaful companies in Malaysia using Data Envelopment Analysis (DEA) . Review of Islamic Economics, 10 (2) pp. 5-26
2005 Economic integration among the members of the League of Arab States: an empirical evidence. Journal of Economic Cooperation and Development, 26 (3) pp. 77-102
Conference or Workshop Item

2023 Factors affecting financial literacy among micro small and medium-sized enterprises (MSMEs) in Bangladesh and Malaysia. In: 8th International Student Symposium,
2020 Green microfinance promoting sustainable development goals (SDGS) in Bangladesh. In: International Conference On Islamic Social Finance: Pandemic Crisis And Possible Solutions (ISFPCPS 2020),
2019 Governance structure of microfinance institutions: A comparison of models and its implication on social impact and poverty reduction. In: 5th International Ibn Khaldun Symposium,
2019 Job satisfaction of female employees in microfinance institutions of Bangladesh. In: 3rd ASIA International Multidisciplinary Conference (AIMC 2019),
2019 Revisiting Halal industry Its Scope, Challenges and Opportunities.. In: Sustainable Social and Economic WEll-Being,
2019 Role of microfinance Institutions for sustainable development goals in Bangladesh. In: IIUM International Conference on Business Management (IICBM 2019),
2019 Sustainability and outreach of microfinance institutions in Bangladesh: the role of governance. In: International Conference on Financial Markets (ICFM 2019),
2017 The role of zakat for poverty alleviation and income inequality reduction. In: 3rd International Islamic Monetary Economics and Finance Conference (IIMEFC),
2017 Waqf fundraising management: a proposal for a sustainable finance of the Waqf institutions. In: 3rd International Islamic Monetary Economics and Finance (IIMEFC) 2017,
2016 Developing a halal compliance behavioural framework: case of the Malaysian poultry firms. In: Persidangan Kebangsaan Ekonomi Malaysia ke 11,
2012 The perception of micro-entrepreneurs and petty traders towards conventional and Islamic microfinance : a case study of Pakistan . In: Islamic Finance in a Challenging Economy : Moving Forward,
2011 Towards an application of Musharakah Mutanaqisah principle in Islamic microfinance . In: International Islamic Finance & Business Symposium and Halal Carnival 2011,
2010 Does trade among ASEAN members promote efficiency? Sectoral evidence from the gravity model.. In: International Conference on the Asian Economic Cooperation,
2010 Economic integration among asean countries: evidence for gravity model. In: IIUM Research, Innovation & Invention Exhibition (IRIIE 2010),
2009 Achieving human development objectives through microfinance institution: the case of Amanah Ikhtiar Malaysia . In: International Conference on Islamic Economics, Banking and Finance,
2009 An economic impact assessment of a microcredit program in Malaysia: the case of Amanah Ikhtiar Malaysia (AIM). In: Annual International Conference on Global Business,
2008 Prospects for future economic integration among the League of Arab States. In: Proceedings of the International Conference on Business Globalization in the 21st Century,
Book

2023 International trade and Muslim countries. IIIT and IIUM, ISBN: 978-967-445-500-2
2018 The role of corporate and public entities in managing waqf institutions in Muslim countries. The International Institute of Islamic Thought (East and South East Asia), ISBN: 978-967-2190-08-0
Book Section

2020 Empowering community through entrepreneurship training and Islamic micro-financing: sharing the experience of IIUM-CIMB Islamic smart partnership (i-Taajir). In: IGI Global, ISBN: 9781799822578, pp. 57-76
2019 Pembasmian kemiskinan: wakaf & program keusahawanan sosial. In: Penerbit IKIM/IKIM Press, ISBN: 978-983-2718-75-8, pp. 99-122
2018 Best practices of waqf: experiences of Malaysia and Saudi Arabia. In: IIUM Press, & Islamic Research and Training Institute (IRTI), ISBN: 978-967-418-398-1, pp. 68-98
2018 The role of regulatory system in ensuring halal compliance among poultry firm operators in Malaysia. In: Springer, ISBN: 978-981-10-7256-7, pp. 387-395
2016 Issues and challenges in enhancing the efficiency of Waqf institutions: the case of selected Waqf institutions in Malaysia. In: Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia (IIUM) and Islamic Research and Training Institute (IRTI) @Islamic Development Bank, ISBN: 978-983-44368-1-8, pp. 542-558
2011 Case studies in international economics. In: IIUM Press, ISBN: 978-967-418-185-7, pp. 13-18
2011 The role of Muslim women in generating household income through micro or small scale enterprises: the case study of Amanah Ikhtiar Malaysia. In: IIUM Press, ISBN: 9789670225838, pp. 41-80
2011 Zakat as a source for microfinancing. In: IIUM Press, ISBN: 9789674180119, pp. 152-166
2010 Are there prospects for future economic integration among Muslim countries? Evidence from selected OIC countries. In: IIUM Press, ISBN: 9789670225012, pp. 3-28
2009 Review of current practices and development of Islamic micro credit and micro financing. In: IIUM Press, ISBN: 9789833855780, pp. 247-264
Monograph

2020 Developing a framework for halal compliance: the case of poultry industry in Malaysia. In: ,
2013 Towards an application of Musharakah Mutanaqisah principle in Islamic microgfinance. In: s.n,
2009 Economic integration among ASEAN countries: evidence from gravity model. In: East Asian Development Network,