Maya Puspa Binti Rahman
Associate Professor

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Maya Puspa Rahman has more than 10 years of working experiences in various industries, including stock broking, fund management and Takaful investments. The last industrial position. She held was the Deputy Manager of Investment Division at Syarikat Takaful Malaysia Berhad where she managed more than RM100 million worth of equity investments and responsible for proposing strategic investment for the company. She spearheaded the extensive training on the first structured investment-linked product (ILP) for the regional branches of Syarikat Takaful Malaysia Berhad in Malaysia where the ILP manag ... show more

  • Doctor of Philosophy ( Islamic Banking & Finance ) - Doctor of Philosophy, International Islamic University Malaysia
  • Master of Economics - Masters Degree, International Islamic University Malaysia
  • Economics and Finance - Bachelor Degree, Royal Melbourne Institut of Technology University (RMIT)
  • Economics, Business And Management ~ Economics, Business And Management ~ Islamic Finance ~ Islamic Banking -
  • 2018 - 2018 ,
  • 2017 - 2017 Research Fellow, Center for Islamic Economics,
  • 2017 - 2017 ,
  • 2016 - 2016 Research Fellow, Centre for Islamic Economics,
  • 2016 - 2016 , Emerald Publishing
FINANCIAL ECONOMICS 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2020/2021
ISLAMIC BANKING AND FINANCE 2014/2015 2016/2017 2017/2018
MONEY & BANKING 2017/2018
MONEY AND BANKING 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021
RESEARCH METHODS 2017/2018 2018/2019 2019/2020
In Progress
2019 - Present Innovative Financing for Sustainable Development Goals
2018 - Present An Analysis of Acceptance Level of A Proposed Recombinant Collagen-like Protein via Molecular Biology and Biochemistry among Stakeholders and Ethical Science Policy Related
2018 - Present Developing Shariah Complaint equity-based crowdfund Model towards Malaysian low carbon society-A Case of Kuaala Lumpur.
2018 - Present Employee's freedom to profess and practice his religion: Building a Diversity Religious Model for Workplaces in Malaysia
2018 - Present Developing Shariah Complaint equity-based crowdfund Model towards Malaysian low carbon society-A Case of Kuala Lumpur.
2016 - Present Developing Shariah-compliant Crowdfunding Models for Entrepreneurship Development in Malaysia
2015 - Present A Proposed Crowdfunding-Waqf Model (Cwm) for Developing Waqf Assets in Malaysia
2016 - 2017 An Assessment of Preference of Equity Crowdfunding from the Investors Perspective: The Case of Malaysia
2016 - 2019 Developing Shariah-compliant Crowdfunding Models for Entrepreneurship Development in Malaysia
2015 - 2018 A Proposed Model of Complementary Currency (CC) for Orang Asli Community to Boost Local Socio-economic Development: An Analysis of Acceptance Level.
2015 - 2017 A Proposed Crowdfunding-Waqf Model (Cwm) for Developing Waqf Assets in Malaysia
2015 - 2018 Identifying the Macroeconomic Factors influencing the Pricing Methods of Sovereign Sukuk
30 November 2017 E-Learning Certification. McWeadon Education Foundation USA - International level.
07 Oktober 2017 Winner at the International Conference and Exhibitions on Inventions by Institutions of Higher Learning (PECIPTA 2017). Institutions of Higher Learning - National level.
20 Mei 2017 Certified Master Practitioner of Take Charge! Learning Facilitator System. Take Charge Sdn Bhd - National level.
16 Ogos 2014 Best Paper Award. Best Paper Award: Malaysian Finance Association Conference 2014 - National level.
2019 Co-movement dynamics between global sukuk and bond markets: new insights from a wavelet analysis. International Journal of Emerging Markets , 14 (4) pp.550-581
2019 Does the Malaysian sovereign sukuk market offer portfolio diversification opportunities for global fixed-income investors? Evidence from wavelet coherence and multivariate-GARCH analyses. North American Journal of Economics and Finance , 47 pp.675-687
2018 Final research report RAGS (RAGS15-061-0124) identifying the macroeconomic factors influencing the pricing methods of sovereign sukuk. RAGS Research Report pp.1-14
2018 Financial integration between sukuk and bond indices of emerging markets:insights from wavelet coherence and multivariate-GARCH analysis. Borsa Istanbul Review , 18 (3) pp.218-230
2018 Exploring the understanding, role and participation of Small and Medium Enterprises (SMEs) on digital economy in Malaysia. Malaysian Journal of Consumer and Family Economics , 21 (S1) pp.139-153
2018 Local currency model: to boost economic activities of indigenous community in Malaysia. Turkish Online Journal of Design, Art and Communication (TOJDAC) , September 2018 Special Edition pp.1-8
2017 Are shariah-compliant structured products able to withstand global financial shocks? A new perspective on the performance of shariah-compliant structured investment-linked plans in Malaysia. Journal of Economic Cooperation and Development , 38 (1) pp.161-182
2017 Sovereign sukuk pricing analysis: do macroeconomic variables matter?. International Journal of Economics, Management and Accounting , 25 (3) pp.513-528
2016 Shariah compliance of green banking policy in Bangladesh. Humanomics , 32 (4) pp.390-404
2015 Modelling the conditional variance and asymmetric response to past shocks in the Malaysian bond market. Asian Journal of Business and Accounting , 8 (1) pp.1-37
2014 Understanding investor behavior from the variation of sukuk spreads. Islamic Finance News , 11 (2) pp.19-20
2014 Understanding investor behavior from the variation of Sukuk spreads . Islamic Finance News , 11 (2)
2013 An application of GARCH modeling on the Malaysian sukuk spreads. Journal of Islamic Finance , 2 (2) pp.26-37
Developing a Sharīʿah-compliant equity-based crowdfunding framework for entrepreneurship development in Malaysia. ISRA International Journal of Islamic Finance

Conference or Workshop Item

2020 The Recombinant Collagen-Like Protein as Animal-based Collagen substitution: A Qualitative Study. In: 4th International Virtual Conference on Zakat, Waqf and Islamic Philanthropy (ZAWFI 2020):
2019 Would muslim entrepreneurs use shariah-compliant equity-based crowdfunding model for financial sustainability? a case study on Malaysia. In: 10th Foundation of Islamic Finance Conference 2019
2018 Factors impacting investors’ intention to invest on peer-to-peer (P2P) lending platform: an extended TAM-based model. In: Conference on Fintech, Social Finance, and Financial Stability
2017 An analysis on the accuracy of the yield curve in predicting the Malaysian economy: A 20 years' perspective. In: The International Conference on Applied Economics and Policy (ICAEP) 2017
2016 The contribution of fintech (crowdfunding) to sosio-economic development in Indonesia. In: 15th International Convention of the East Asian Economic Association (EAEA 2016)
2016 Factors contributing to the success of crowdfunding: the Malaysian case. In: 2016 Asia-Pacific Conference on Economics & Finance
2016 Does the global Sukuk market offer any portfolio diversification opportunity for Indonesian investors?. In: International Seminar & The 2nd Journal of Islamic Monetary Economics and Finance Call for Papers 2016
2016 The influence of macroeconomic variables on sovereign sukuk yields: a panel data approach on selected Muslim countries. In: The 18th Malaysian Finance Association Annual Conference (MFAC) 2016 and The 7th Islamic Banking, Accounting and Finance Conference (iBAF) 2016
2016 Dynamic relations between sukuk and conventional bond markets: an analysis of international portfolio diversification. In: The 18th Malaysian Finance Association Annual Conference (MFAC) and 7th Islamic Banking, Accounting and Finance Conference 2016 (iBAF 2016)
2012 Are Shariah-Compliant Structured Products Able to Withstand the Global Financial Shocks? A New Perspective on the Performance of Shariah-compliant Structured Investment-linked Plans in Malaysia. In: Islamic Capital Market Conference, Jakarta


2018 Islamic economics: principles & analysis. International Shari’ah Research Academy for Islamic Finance (ISRA) . ISBN 978-967-16568-2-2

Book Section

2016 Sukuk market development and behaviour in times of crisis. In: Essential perspectives in Islamic economics and finance 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.421-453
2015 Factors influencing the excess returns of Sukuk: an empirical analysis on USD denominated Sukuk issued by corporations in the Gulf Cooperation Council Countries (GCC). In: Islamic Finance: Performance and Efficiency Gerlach Press . ISBN 978-3-940924-18-6 , pp.233-254