Nazrol obtained his Bachelor of Commerce and Postgraduate Diploma in Finance from the University of Melbourne, Australia. His working career began in the oil and gas sector where he worked at PETRONAS in various capacities. In 2001, he joined Accenture Malaysia as an analyst and was involved in IT and management consulting projects in Malaysia, Singapore and Hong Kong.
Upon completing his MBA in International Islamic University Malaysia (IIUM), where he received the award of best student with a CGPA of 4.0, he joined as a full-time faculty member of the same institution. Nazrol enrolled in the PhD program at INCEIF in 2010. After completing the coursework with a CGPA of 3.95, he worked on his dissertation which was in the area of Shariah compliant stocks. He was awarded a PhD in Islamic finance in October 2014 and received the President’s Award of Best PhD student for that year.
His research interest is Islamic equities. He won the best paper award at the annual Malaysian Finance Association (MFA) conference twice in a row and has a number of publications in refereed journals. He currently serves as a faculty member of the Kulliyyah (Faculty) of Economics and Management Sciences, IIUM, where he teaches Islamic banking and finance.

• Economics, Business And Management ~ Economics, Business And Management ~ Finance ~ Capital Market - Equities, Portfolio Management, Derivatives
• Economics, Business And Management ~ Economics, Business And Management ~ Islamic Finance ~ Islamic Banking - Islamic equities

FINANCIAL DERIVATIVES	2022/2023 2021/2022 2020/2021 2019/2020 2018/2019 2017/2018
FINANCIAL MANAGEMENT	2009/2010
FINANCIAL MANAGEMENT AND POLICIES	2021/2022 2016/2017
FINANCIAL MANAGEMENT I	2019/2020 2016/2017 2014/2015 2013/2014 2009/2010 2008/2009
FINANCIAL MANAGEMENT II	2015/2016 2013/2014
FINANCIAL STATEMENT ANALYSIS	2010/2011
FOUNDATION OF ISLAMIC FINANCE	2015/2016 2014/2015
FUTURES,OPTIONS AND RISK MANAGEMENT	2017/2018 2016/2017
INTRODUCTION TO MANAGEMENT FOR NON-ENM	2009/2010 2008/2009 2007/2008 2006/2007 2005/2006
ISLAMIC BANKING AND FINANCE	2008/2009 2007/2008 2006/2007 2005/2006
ISLAMIC BANKING SYSTEM & OPERATIONS	2017/2018 2016/2017 2015/2016 2014/2015
ISLAMIC CAPITAL MARKET	2020/2021 2019/2020 2018/2019 2017/2018 2016/2017 2015/2016
ISLAMIC CAPITAL MARKETS	2022/2023 2021/2022 2020/2021
ISLAMIC FINANCE	2022/2023
ISLAMIC FINANCIAL SYSTEM AND ENVIRONMENT	2014/2015
ISSUES IN ISLAMIC BANKING	2019/2020
MANAGERIAL FINANCE	2021/2022
MANAGING RISK-FUTURES & OPTIONS	2022/2023
PORTFOLIO MANAGEMENT	2018/2019 2016/2017
PRACTICAL TRAINING (BBA)	2009/2010 2008/2009 2007/2008 2006/2007
STRATEGIC FINANCE	2021/2022

Completed

2019 - 2023	Exploring the Notion of Rational Investment: The Case of Green Investment in Malaysia
2015 - 2019	The Preparation of Feasibility Study for the Establishment of an International Islamic University in Afghanistan
2013 -	Islamic Economic Framework for Waqf: Lessons from History,Comparative Best Practices and Developing Contemporary Models

On-Going

2022 - Present	Anti-Corruption Education in Preventing Financial Crime - Education Speaks Loudest
2022 - Present	Developing a Capacity Maturity Model for Business Analytics Education in Malaysia Higher Education Institutions

Article

2021	Bank liquidity risk and capital structure: a conceptual review of theoretical and empirical research on Islamic banking perspective. International Journal of Academic Research in Accounting, Finance and Management Sciences, 11 (3) pp. 539-553
2021	Is there a diversification “cost” of Shari’ah compliance? empirical evidence from Malaysian equities. Economic Systems, 45 (1) pp.
2020	Determinants of banks’ capital structure: a review of theoretical and selected empirical research. International Journal of Business and Social Science, 11 (12) pp. 131-141
2020	Determinants of banks’ capital structure: a review of theoretical and selected empirical research. International Journal of Business and Social Science, 11 (12) pp. 131-141
2020	Information content and informativeness of the analyst report in Malaysia: Evidence from Sharīʿah-compliant shares. Journal of Islamic Accounting and Business Research, 11 (3) pp. 869-888
2020	Information content and informativeness of the analyst report in Malaysia: Evidence from Sharīʿah-compliant shares. Journal of Islamic Accounting and Business Research, 11 (4) pp. 869-888
2020	Mandate performance reporting of Malaysian development financial institutions (DFIs): a review. Asian Journal of Accounting and Finance, 2 () pp. 1-6
2020	Mandate performance reporting of Malaysian Development Financial Institutions (DFIs): a review. Asian Journal of Accounting and Finance, 2 (1) pp. 1-6
2020	Tawarruq and Wa’d as main ingredients of Islamic structured investment: food for thought. International Journal of Economics, Management and Accounting, 18 (1) pp. 255-275
2019	Information content and informativeness of analysts’ report: evidence from Malaysia. Journal of Financial Reporting and Accounting, 16 (4) pp. 742-763
2019	Islamic venture capital – issues in practice. ISRA International Journal of Islamic Finance, 11 (1) pp. 147-158
2018	How useful are the equity analysts’ report? evidence from Malaysia. Reports on Economics and Finance, 4 (4) pp. 221-246
2018	Information content of analysts' report: a literature survey. Etikonomi, 17 (1) pp. 135-152
2018	Issue in Islamic equities: a literature survey. Emerging Markets Finance and Trade, 54 (1) pp. 1-26
2018	Strategic direction setting of DFIS: A qualitative review based on performance model. Academy of Strategic Management Journal, 17 (6) pp. 1-6
2017	A qualitative inquiry into the issues of information content of analysis’s report: Evidence from Malaysia. Labuan Bulletin of International Business & Finance, 15 () pp. 1-21
2017	A qualitative inquiry into the issues of information content of analysts' report: Evidence from Malaysia. Labuan Bulletin of International Business and Finance, 15 () pp. 1-21
2017	Development of waqf in Indonesia: The SWOT analysis of Indonesia Waqf Board (BWI). Al-Infaq: Jurnal Ekonomi Islam, 8 (2) pp. 136-150
2016	A critical look at an Islamic Gold investment account. IIUM Journal of Case Studies in Management, () pp. 18-30
2014	Heads we win, tails you lose: Is there equity in Islamic equity funds?. Pacific-Basin Finance Journal , 28 () pp. 7-28
2012	Do 'Sin Stocks' deprive Islamic stock portfolios of diversification? Some insights from the Use of MGARCH-DCC. Capital Markets Review, 20 () pp. 43-64
2012	Do ‘Sin stocks’ deprive Islamic stock portfolios of diversification? some insights from the use of MGARCH-DCC. Capital Markets Review, 20 (1&2) pp. 43-64

Conference or Workshop Item

2019	Direct and indirect costs in Islamic finance – opportunities for research. In: 10th Foundation of Islamic Finance Conference 2019,
2019	Islamic structured investment: an example and critical analysis. In: 1st International Conference on Financial Markets 2019 (ICFM),
2016	Factors contributing to the success of crowdfunding: the Malaysian case. In: 2016 Asia-Pacific Conference on Economics & Finance,
2016	Investment practices of endowment funds in higher education: lessons for the developing world. In: International Symposium on Waqf and Higher Education (ISWHE 2016),
2014	Is there a diversification “cost” of shari’ah compliance? empirical evidence from Malaysian equities. In: 4th Islamic Banking and Finance Conference 2014,
2012	Do sin stocks deprive Islamic stock portfolios of diversification? some insights from the use of MGARCH-DCC. In: The Malaysian Finance Association 13th Annual Conference 2011,
2011	Making Mudarabah workable: altering risk-return profiles through equity Kickers. In: The Malaysian Finance Association 13th Annual Conference 2011,

Book Section

2017	Islamic banking business of conventional banks: transition from windows to Islamic subsidiaries. In: Pearson Malaysia, ISBN: 978-967-349-737-9, pp. 85-114
2014	Investment of endowment funds in the higher educations: best practices, performances and issues. In: Fakulti Pengajian Islam, UKM, ISBN: 978-967-412-276-8, pp. 29-53
2012	Islamic equity market. In: International Shari'ah Research Academy for Islamic Finance (ISRA), ISBN: 978-967-349-127-8, pp. 451-496