Dr. Waheed Akhter
Associate Professor, Center of Islamic Finance
Area of Interest: Islamic banking, Takaful, Bank Liquidity Creation, Financial Stability, Risk Management, Behavioral Finance etc.
Tel # (Off): 111-001-007   (121)
HEC approved PhD Supervisor

Dr. Waheed Akhter holds an MBA and a PhD with particular focus in Islamic Finance. Gaining rich experience from Pakistan and Malaysia, he has been involved in teaching and research in Islamic banking and Takaful for more than fifteen years. His research interests encompass Islamic banking, Takaful, Islamic Microfinance, Islamic bank liquidity creation and risk management, and customer satisfaction in Islamic banking etc.  He acts as an article editor for Sage Open Journal and external reviewer to several internationally recognized journals including Emerging Markets Trade and Finance, Taylor & Francis, and International Journal of Islamic and Middle Eastern Finance and Management, Emerald. He has published over 40 research papers in journals of national and international repute. He has completed a research project under HEC NRPU program worth Rs.3.747 million, one of the biggest projects ever funded by HEC in Islamic Finance. Besides that, he has successfully supervised more than twenty young researchers in their MS and PhD theses in the area of banking and finance.

Publications:

Books:
1. Khan, Anwar, Zubair, Ammad, Akhter and Abbasi (2018), "A Textbook of Islamic Finance ", published by: Center of Islamic Finance, COMSATS Institute of Information Technology Lahore, Pakistan, pp: 368, Standard: ISBN: 978-969-23225-0-8   
Journal Papers:
1. Usman, M.; Akhter, W.; Haque, A. (2023), "“Spillover effects of crash and jump events: evidence from Chinese market”", China Finance Review International, Emerald, Vol. 13 No. 4, pp. 599-620    (External URL)
2. Ali, I., Akhter, W. and Chaudhry, N. (2023), "Do Islamic Holy days affect stock returns? Empirical evidence from Asian and African markets", Journal of Islamic Marketing, Vol. 14 No. 1, pp. 273-288, Emerald    (External URL)
3. Usman, M., Li, C., Chaudhry, N., & Akhter, W. (2023), "Does religion impact corporate innovation in developing countries?. Journal of Islamic Accounting and Business Research.", Journal of Islamic Accounting and Business Research, Vol. 14 No. 6, pp. 887-910    (External URL)
4. Javid, M., Chandia, K.E., Zaman, Q.U. and Akhter, W. (2023), "Examining the effect of liquidity creation on banking profitability and stability: moderating role of political instability", Kybernetes, Vol. 52 No. 10, pp. 4061-4080, Emerald., DOI: https://doi.org/10.1108/K-01-2022-0021    (External URL)
5. Zaman, Q.U., Akhter, W., Abdul-Majid, M., Hassan, S.I.U. and Anwar, M.F. (2023), "Does bank affiliation affect firm capital structure? Evidence from a financial crisis", Journal of Economic and Administrative Sciences, Emerald, Vol. 39, No. 1, pp. 50-174    (External URL)
6. Akhter, W., Jamil, H. and Fam, K.-S. (2021), "Islamic influence on customer satisfaction: evidence from Takaful and conventional insurance industry", Journal of Islamic Accounting and Business Research, Vol: 12 No. 4, pp. 524-543. ISI indexed    (External URL)
7. Zaman, Q.U., Aish, K., Akhter, W. and Zaidi, S.A.H. (2021), "Exploring the role of corruption and money laundering (ML) on banking profitability and stability: a study of Pakistan and Malaysia", Journal of Money Laundering Control, Vol: 12, No. 4, pp. 524-543. ISI indexed    (External URL)
8. Asif, R.; Akhter, W.; Nisar. S. (2020), "An Estimation of the Presence of Contagion in Islamic and Conventional Banks of Pakistan Using DCCGARCH Model", Paradigms - UCP Journal, Vol: 14, Issue: 01, pp. 86-89, HEC Recognized (Y-Category)    (External URL)
9. Akhter, W.; Pappas, V.; Khan, S. (2020), "Insurance demand in emerging Asian and OECD countries: a comparative perspective", International Journal of Social Economics, Emerald, ISI Index, pp: 350-364, Vol: 47, Issue: 3    (External URL)
10. Khan, M.I.; Akhter, W.; Bhutta, M.U. (2020), "Interest Rate Exposure and Stocks Returns during Global Financial Crisis: Evidence from Islamic and Conventional Markets", Journal of Islamic Business and Management (HEC Recognized), 10(1), 132-148    (External URL)
11. Khan, M.I.; Akhter, W.; Bhutta, M.U. (2020), "Nexus between Volatility of Stocks and Macroeconomic Factors during Global Financial Crisis: Evidence from Conventional & Islamic Stocks", Journal of Accounting and Finance in Emerging Economies, 6(2): pp.465-473.    (External URL)
12. Usman, M.; Jibran, M. A. Q.; Amir-ud-Din, R.; Akhter, W. (2019), "Decoupling hypothesis of Islamic stocks: Evidence from copula CoVaR approach", Borsa Istanbul Review, Elsevier, , Vol: 19, Issue: 01, pp.S56-S63, Impact Factor 3.5    (External URL)
13. Zaman,Q.; Hassan,M.K.; Akhter,W.; Brodmann,J. (2019), "Does the Interest Tax Shield Align with Maqasid al Shariah in Finance?", Borsa Istanbul Review, Elsevier, ISI Indexed, pp: 39-48, Impact Factor 3.5, Vol: 19, Issue: 01    (External URL)
14. Mahmood, K.; Akhter, W. and Shahzad, K. (2019), "Return and risk based performance of conventional and Islamic equity funds: A comparative study from Pakistan", Pakistan Business Review, Vol: 21, Issue: 01, pp.87-97, HEC Y category    (External URL)
15. Asif, R. and Akhter, W. (2019), "Exploring the influence of revenue diversification on financial performance in the banking industry: A systematic literature review", Qualitative Research in Financial Markets, Emerald, Vol: 11, No. 3, pp. 305-327, ISI Indexed    (External URL)
16. Akhter, W.; Majeed, M.U.; Roubaud, D. (2019), "Islamic Banking and Financial Inclusion: Evidence from Asian and African Markets", Journal of Islamic Business and Management (HEC Recognized), pp: 341-354, Vol: 9, Issue: 2    (External URL)
17. Zaman, Q.; Hassan, M.K.; Akhter, W.; Meraj, M. A. (2018), "From interest tax shield to dividend tax shield: A corporate financing policy for equitable and sustainable wealth creation", Pacific-Basin Finance Journal, Elsevier, Impact Factor: 1.603, Vol: 52, pp.144-162    (External URL)
18. Chaudhry, N.; Roubaud, D.; Akhter, W.; Shahbaz, M. (2018), "Impact of terrorism on stock markets: empirical evidence from the SAARC region", Finance Research Letters, Elsevier, Volume 26, pp.230-234, ISSN: ISSN: 1544-6123, Impact Factor: 0.762    (External URL)
19. Akhter, W.; Pappas, V.; Khan, S. (2017), "A comparison of Islamic and conventional insurance demand: Worldwide evidence during the Global Financial Crisis", Research in International Business and Finance, Elsevier, pp: 1401–1412, Issue: 42, Impact Factor: 1.47    (External URL)
20. Akhtar, B.; Akhter, W.; Shahbaz, M. (2017), "Determinants of Deposits in Conventional and Islamic Banking: Empirical evidence from an emerging economy", International Journal of Emerging Markets, Emerald, ISI Indexed, Vol: 12, Issue: 02, Impact Factor: 2.02    (External URL)
21. Akhter, W.; Khan, S. (2017), "Determinants of Takaful and conventional insurance demand: A regional analysis", Cogent Economics and Finance, Taylor & Francis, Vol: 05, Issue: 01, Impact Factor: ISI INDEXED    (External URL)
22. Rahman, K; Akhter , W; Khan, S. (2017), "Factors affecting employee job satisfaction: A comparative study of conventional and Islamic insurance", Cogent Business and Management, Taylor & Francis, Vol: 04, Issue: 01, Impact Factor: ISI Indexed    (External URL)
23. Ali, I.; Akhter, W.; Ashraf, N. (2017), "Impact of Muslim Holy Days on Asian stock markets:An empirical evidence", Cogent Economics and Finance, Taylor & Francis, Vol: 05, Issue: 01, Impact Factor: ISI INDEXED    (External URL)
24. Khan, S. and Akhter, W. (2017), "Service quality and the moderating effect of Shari’ah perception on client satisfaction: A comparison of islamic and conventional microfinance in Pakistan", Cogent Economics and Finance, pp: 1-20, Vol: 05, Issue: 01, Impact Factor: ISI Indexed    (External URL)
25. Jamil, H.; Akhter, W. (2016), "Investigating the impact of Shari’ah perception on customer switching intentions: A study of Takaful and conventional insurance", Cogent Business and Management, Taylor & Francis, Vol: 03, Issue: 01, Impact Factor: ISI INDEXED    (External URL)
26. Rana, E.; Akhter, W. (2015), "Performance of Islamic and conventional stock indices: empirical evidence from an emerging economy", Financial Innovation, Springer Journal, Vol: 01, Issue: 01, pp. 01-17, Impact Factor 3.98    (External URL)
27. M. Usman, W. Akhter, A. Akhtar (2015), "Role of Board and Firm Performance in Determination of CEO Compensation: Evidence from Islamic Republic of Pakistan", Pakistan Journal of Commerce and Social Sciences, pp: 641-657, Vol: 0, Issue: 02    (External URL)
28. Ehsan, S; Khalid, M; Akhter, W. (2014), "DIVIDEND PAYOUTS IN FIRMS WITH GROWTH POTENTIAL IN THE PRESENCE OF INSIDER OWNERSHIP CONCENTRATION (A CASE FROM EMERGING ECONOMY)", Science International - Lahore, pp: 1723 - 1730, Vol: 26, Issue: 04, Standard: ISSN 1013 - 5316, Impact Factor: ISI INDEXED    (External URL)
29. Usman, Makki, W. Akhter, Quddoos (2014), "IMPACT OF WORKING CAPITAL MANAGEMENT AND ITS POLICIES ON THE CORPORATE PROFITABILITY: ACROSS THE MANUFACTURING SECTORS", Vidyabharati International Interdisciplinary Resear ch Journal , pp: 42 - 54, Vol: 03, Issue: 01, Standard: ISSN 2319-4979, Impact Factor: ISI Indexed    (External URL)
30. Khalid, M.; Akhter, W. (2013), "IMPACT OF CORPORATE GOVERNANCE PRACTICES ON FINANCIAL DISTRESS: EMPIRICAL EVIDENCE FROM PAKISTAN", Vidyabharati International Interdisciplinary Research Journal (VIIRJ), pp: 6-17, Vol: 2, Issue: 2, Standard: ISSN 2319-4979, Impact Factor: ISI Indexed    (External URL)
31. Akhter, W.; Hussain, T. (2012), "Takaful standards and customer perceptions affecting takaful practices in Pakistan: a survey", International Journal of Islamic and Middle Eastern Finance and Management, Emerald, pp: 229 - 240, Vol: 05, Issue: 03, Impact Factor: 0.75    (External URL)
32. Akhter, W.; Raza, A.; Orangzeb; Akram, M. (2011), "Efficiency and Performance of Islamic Banking: The Case of Pakistan", Far East Journal of Psychology and Business, pp: 54-70, Vol: 2, Issue: 2, Standard: 2219-5440    (External URL)
33. Akhter, W.; Abbasi, A. S.; Ali, I; Afzal, H. (2011), "Factors affecting customer loyalty in Pakistan", African Journal of Business and Management , pp: 1167-1174, Vol: 5, Issue: 4, Standard: 1993-8233    (External URL)
34. Mahmood, A; Akhter, W. (2011), "Assessing the Effectiveness of Frontline Managers in Public Sector Colleges of Pakistan", International Journal of Research in Commerce, IT and Management, pp: 6-13, Vol: 1, Issue: 3, Standard: ISSN 2231 - 5756    (External URL)
35. Akhter, W.; Afzal, H.; Ali, R. (2011), "Corporate understanding of Takaful", International Journal of Research in Commerce, Economics and Management, pp: 30-35, Vol: 1, Issue: 1, Standard: 2231 - 4245    (External URL)
36. Akhter, W.; Abassi, A. S. ; Umer, S. (2011), "Ethical Issues in Advertising in Pakistan: An Islamic Perspective", World Applied Sciences Journal, pp: 444-452, Vol: 13, Issue: 3, Standard: 1818-4952    (External URL)
37. Akhter, W.; Rehman, Z. (2011), "Financial Performance of Pakistan Insurance Industry in Global Scenario", Far East Journal of Psychology and Business, pp: 01-14, Vol: 3, Issue: 2, Standard: ISSN 2221-8017    (External URL)
38. Akhter, W.; Akhtar, N.; Jafri, K. A. (2011), "Islamic Micro-finance and Poverty Alleviation: A case of Pakistan", International Journal of Research in Computer Applications and Management (IJRCM) , pp: 24-27, Vol: I, Issue: IV, Standard: ISSN 2231 - 1009    (External URL)
39. Ahmed, A.A.; Dey, M.M.; Akhter, W.; Ali, R. (2011), "Timeliness Attributes and the extent of Accounting Disclosure: A study of Banking Companies in Bangladesh", Interdisciplinary journal of contemporary research in business (IJCRB), pp: 915 - 925, Vol: 03, Issue: 01, Standard: 2073-7122    (External URL)
40. Ali, I.; Akhter, W.; Afzal, H.; Zia, M. (2010), "Effects of knowledge maangement practices on organizational innovativeness and performance: Evidence from the SME sector of Pakistan", Actual Problems of Economics, pp: 03-07, Vol: 02, Issue: 12, Standard: 1993-6788   
41. Rahman, S.; Afzal, H; Ali, I; Khan, A; Akhter, W. (2010), "Stress in Banker’s Life: Demands- Control Model as Predictors of Employee’s Activity Participation", African Journal of Business and Management (AJBM), pp: 1679-1690, Vol: 4, Issue: 7, Standard: 1993-8233  Abstract  (External URL)
42. Akhter, W. (2010), "Takaful Models and Global Practices", Journal of Islamic Banking and Finance, pp: 33-44, Vol: 27, Issue: 1, Standard: 1814-8042   
43. Akhter, W. (2010), "Risk Management in Takaful", Enterprise Risk Management, Macrothink Institute online journal, pp: 128-144, Vol: 2, Issue: 1, Standard: 1937-7916    (External URL)
44. Ali, I; Fatima, J; Akhter, W. (2009), "Entrepreneurial intentions among university Graduates in Pakistan", Journal of Social Sciences and Humanities, , pp: 25-42, Vol: 17, Issue: 2, ISSN: 1994-7046, HEC Y category   
45. Akhter, W. (2009), "Development of Takaful: A Historical Perspective", Journal of Islamic Banking and Finance, pp: 47-63, Vol: 26, Issue: 3, Standard: 1814-8042   
46. Akhter, W. (2007), "Regulatory Frameworks Affecting Takaful Business: A Pakistan Paradigm", Journal of Islamic Banking and Finance, pp: 67-105, Vol: 24, Issue: 2, Standard: 1814-8042   
Conference Papers:
1. W. Akhter, V. Pappas, S. Khan (2016) "Takaful and Conventional insurance demand during Global Financial Crisis: An Empirical Evidence", Working Paper    (External URL)
2. Akhtar, B; Akhter, W (2013) "Determinants of Deposits in Islamic and Conventional Banking", Global Forum on Islamic Finance (GFIF), March 11-13    (External URL)
3. Raza, A; Akhter, W. (2013) "Musharaka Financing in Pakistan: Related Issues and Future Challenges", Global Forum on Islamic Finance (GFIF), at PC Lahore, March 11-13     (External URL)
4. Rehman, A.; Rehman, Z.; Akhter, W. (2011) "Factors affecting brand loyalty: A study of fast food restaurants", 3rd SAICON International Conference on Management, Business Ethics and Economics (ICMBEE), 28-29 December     (External URL)
5. Akbar, A.' Akhter, W. (2011) "Faculty Stress At Higher Education: A Study On The Business Schools Of Pakistan", International conference on Business and management Sciences, Dubai, 25-27 January,   
6. Akhter, W., Jafri, K., Akhter, N. (2010) "Risk Management in Takaful", 2nd International Conference on Business, Technology and Engineering (ICBTE) organized by Iqra University, Islamabad at 23-24 January.   
7. Akhter, W. (2010) "Takaful vs. Insurance: Transformational Paradigm", 2nd International Conference of AGBA South Asia Chapter, Nurturing Innovation, Entrepreneurship, Invesments & Public-Private Partnerships – in Global Environment at Bhurban (Murree), at 21-23 July,   
8. Ahmed, A., A., Akhter, W., Dey, M., M. (2010) "Timeliness Attribute and Extent of Accounting Disclosure: A study of Banking Companies in Bangladesh", 2nd International Conference on Business, Technology and Engineering (ICBTE) organized by Iqra University, Islamabad at 23-24 January.   
9. Akhter, W., Jafri, K., Akhter, N. (2009) "Islamic Micro-finance and Poverty Alleviation: A case of Pakistan", Paper presented at the 2nd International Business Conference organized by Comsats Institute of Infor   
10. Jafri, K., Akhter, W., Akhter, N. (2009) "Knowledge Management in Higher Education: A case of Pakistan", Paper presented at the 2nd International Business Conference organized by Comsats Institute of Infor   
11. Akhter, W. (2008) "Iran Insurance Industry and Potential for Takaful", Research paper presented at International Conference on held by Iranian Insurance Research Institut   

Qualification

PhD
NUML, Pakistan
2009
   
MBA
Quaid-i-Azam University, Islamabad, Pakistan
2000
   

Experience

Associate Professor
COMSATS University
Jan 2019 to Date
   
Assistant Professor
COMSATS, Lahore
Jul 2009 to Dec 2018
   
Research Scholar
NUML
Aug 2004 to Jun 2009
   
Industrial Experience in Malaysia
Takaful (Islamic Insurance) Companies
Sep 2006 to Mar 2007
   
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