Dr. Wajahat

Dr. Wajahat

Dr. Wajahat

Assistant Professor

Faculty Unique ID: 1-10617567623


Dr. Wajahat has several years of consulting, research and teaching experience. Previously, he has served as a Senior Consultant with the Deloitte Middle East. As a Subject Matter Expert, he led industry and research projects mainly focusing on financial institutions. Prior to joining Deloitte, he was attached as a Research Fellow with INCEIF (institution established by Central Bank of Malaysia). During his stay at INCEIF, he handled consulting/research/capacity building projects related to public/private sector. He has also served as a Visiting Faculty in business schools and taught courses such as Corporate Finance, Sustainable Finance, Islamic Finance, Capital Markets, Quantitative Methods etc. He was also attached as an Adjunct faculty with the Taylor’s Business School (Taylor’s University – Malaysia).

His main area of research is banking and finance, Islamic finance, sustainable finance etc. His work has appeared in several reputed journals such as Journal of International Financial Markets, Institutions & Money, Economic Modelling, Accounting and Finance, International Review of Economics & Finance, Global Finance Journal, Pacific-Basin Finance Journal etc.


  • Ali M, Alam N, Khattak MA, Azmi W. Bank Risk-Taking and Legal Origin: What Do We Know about Dual Banking Economies? Journal of Risk and Financial Management. 2022; 15(5):224. https://doi.org/10.3390/jrfm15050224
  • Anwer, Z., Mohamad, S., Azmi, W. and Shavkatovich Hasanov, A. (2022), Product market fluidity and religious constraints: evidence from the US market. Account Finance, 62: 1761-1817. https://doi.org/10.1111/acfi.12839
  • Anwer, Z., Mohamad, S., Azmi, W., & Shavkatovich Hasanov, A. (2021). Product market fluidity and religious constraints: evidence from the US market. Accounting & Finance.
  • Azmi, W., Hassan, M. K., Houston, R., & Karim, M. S. (2021). ESG activities and banking performance: International evidence from emerging economies. Journal of International Financial Markets, Institutions and Money70, 101277.
  • Anwer, Z., Azmi, W., Mohamad, S., & Paltrinieri, A. (2021). Why CEOs invest in Corporate Social Responsibility initiatives: evidence on Shariah compliant firms. Applied Economics Letters28(8), 655-662.
  • Anwer, Z., Azmi, W., & Mohamad, S. (2020). Shariah screening and corporate governance: The case of constituent stocks of Dow Jones US Indices. International Review of Economics & Finance.
  • Ali, M., Haroon, O., Rizvi, S. A. R., & Azmi, W. (2020). Stability versus fragility: new evidence from 84 banks. Studies in Economics and Finance.
  • Abdul Hamid, B., Azmi, W., & Ali, M. (2020). Bank Risk and Financial Development: Evidence From Dual Banking Countries. Emerging Markets Finance and Trade56(2), 286-304.
  • Azmi, W., Mohamad, S., & Shah, M. E. (2020). Ethical investments and financial performance: An international evidence. Pacific-Basin Finance Journal62, 101147.
  • Ali, M., Azmi, W., & Khan, A. P. (2019). Portfolio diversification and oil price shocks: a sector wide analysis. International Journal of Energy Economics and Policy9(3), 251-260.
  • Azmi, W., Anwer, Z., Mohamad, S., & Shah, M. E. (2019). The substitution hypothesis of agency conflicts: evidence on Shariah compliant equities. Global Finance Journal41, 90-103.
  • Anwer, Z., Azmi, W., & Mohd, S. M. R. (2019). How do Islamic equities respond to monetary actions?. International Journal of Emerging Markets.
  • Azmi, W., Ali, M., Arshad, S., & Rizvi, S. A. R. (2019). Intricacies of competition, stability, and diversification: Evidence from dual banking economies. Economic Modelling83, 111-126.
  • Azmi, W., Ng, A., Dewandaru, G., & Nagayev, R. (2019). Doing well while doing good: The case of Islamic and sustainability equity investing. Borsa Istanbul Review19(3), 207-218.
  • Azmi, W., Mohamad, S., & Shah, M. E. (2018). Nonfinancial traits and financial smartness: International evidence from Shariah-compliant and Socially Responsible funds. Journal of International Financial Markets, Institutions and Money56, 201-217.
  • Ali, M., & Azmi, W. (2016). Religion in the boardroom and its impact on Islamic banks’ performance. Review of Financial Economics31, 83-88.

Book chapters:

  • Azmi, W., & Ali, M. (2016). The Determinants of Islamic Equity Fund Performance: Global Evidence. In Islamic Capital Markets (pp. 15-30). Palgrave Macmillan, Cham.
  • Ali, M., & Azmi, W. (2017). Impact of Islamic banking on economic growth and volatility: evidence from the OIC member countries. In Islamic banking (pp. 15-32). Palgrave Macmillan, Cham.
  • Hamid, B. A., Ali, M., Azmi, W., & Anwer, Z. (2017). Introducing Islamic finance in unchartered economies: the case of Canada. In Developments in Islamic Finance (pp. 121-145). Palgrave Macmillan, Cham.
  • Ali, M., & Azmi, W. (2017). Remittances, Political Stability and Economic Development: Empirical Evidence from OIC Countries. In Islamic Economies (pp. 29-40). Palgrave Macmillan, Cham.

Corporate Finance



  • World Economic Association, Member (2018)
  • Asia-Pacific Applied Economics Association, Member (2017).

Professional Associations

Member, American Marketing Association

Academic Contributions
• Reviewer for Journal of Business Research. The Journal of Business Research is a highly
respected journal and it is ranked category “A” as per ABDC journal rankings

• Conducted and presented Brown Bag seminars in Faculty Forum at Great Lakes Institute of
• Member, IRB (Institutional Review Board) at Great Lakes Institute of Management.