Dr. Md Mahfuzur Rahman

Senior Lecturer
Department of Finance and Banking
Faculty of Business and Accountancy
  Department of Finance and Banking, Faculty of Business and Accountancy, University of Malaya, 50603 Kuala Lumpur, MALAYSIA


Mahfuzur Rahman has the distinction of completing his first degree in Business Administration (concentration in finance) from International Islamic University of Malaysia (IIUM) and received the 'Best Student of the Department' and 'Best Student of the Faculty' award. He also received the 'Academic Excellence Award 2014' from University of Malaya International Student Centre (ISC). Subsequently, he obtained PhD in Finance from University of Malaya Business School in 2015. Currently, he is working as a Senior Lecturer at the Department of Finance and Banking of University of Malaya (UM). Mahfuzur has taught several courses in Finance, Economics and Business. The list of courses taught includes Financial Management, Managerial Finance, Corporate Finance, Advance Managerial Finance, Principle of Microeconomics, Principle of Macroeconomics, Business Statistics, International Fiance, Business Mathematics and Credit Management. Presently, he is also serving as a visiting Professor at Management & Science University (MSU). His areas of research interest include investment behaviour, financial decision makings and financial risk management. Mahfuzur has published about 20 research papers in local and international journals. He has attended international conferences in Indonesia, Singapore and Malaysia. Dr Mahfuzur is also a reviewer for several ISI and Scopus indexed journals.    


(Qualification), (Institution).

(Organisation), (Role), (Year), (Level).

  • Malaysian Finance Association (MFA), Member, 2017, (National)
  • Journal of Accounting and Business Education, Reviewer, 2016, (International)
  • Management & Science University , Visiting Research Professor, 2016-2018, (National)
  • Asian Journal of Business & Accounting, Reviewer, 2016, (University)
  • Journal of Financial Regulation and Compliance, Reviewer, 2015, (International)
  • Int. J. of Business and Systems Research, IJBSR, Reviewer, 2015, (International)
  • Contemporary Economics, Reviewer, 2015-2016, (International)
  • Social Indicators Research, Reviewer, 2014, (International)


  • Economics, Business and Management, Finance (Financial Behaviour, Risk Management, Decision Making)



  • Amir. M., Rahman, M., & Mahtab, S. 2012. Effects of Psychological Empowerment on Its Cognition. Germany: LAP LAMBERT Academic Publishing. 
  • Hajar, M. H., Latifah, S., & Rahman, M. 2012. Factors contributing to Employee Misconduct. Germany: LAP LAMBERT Academic Publishing. 

Chapter In Book

  • Rahman, M & Ali, Y (2011). Utilizing management case studies from a learner s perspective. In Ali. Y, Case studies as a teaching learning tool in management courses, an instructor s perspective (First ed., pp. 65-76). 

Article In Academic Journals

  • Rahman, M., Albaity, M. and Maruf, B. (2016). The Role of Religiosity on the Relationship Between Materialism and Fashion Clothing Consumption Among Malaysian Generation Y Consumers. Social Indicators Research. DOI: 10.1007/s11205-016-1310-9 (ISI-Indexed)
  • Rahman, M. S., Shahari, F., Rahman, M., & Noman, A. H. M. (2016). The interdependent relationship between sectoral productivity and disaggregated energy consumption in Malaysia: Markov Switching approach. Renewable and Sustainable Energy Reviews (2016), (ISI-Indexed)
  • Masud, M. M., Ahmed, S., Rahman, M., & Akhtar, R. (2016). Measuring Psychological Effects and Internet Addiction towards Academic Performance of Tertiary Students in Malaysia. International Journal of Research in Business and Technology. (Non-ISI/Non-SCOPUS)
  • Rahmi, M., Azma, N., Muttaqin, A. A., Jazil, T., & Rahman, M. (2016). Risk volatility measurement: Evidence from Indonesian stock market. Journal of Asian Finance, Economics and Business, 3(3) : 57-65. (Non-ISI/Non-SCOPUS)

  • Ahmed, A., Masud, M.M., Al-Amin, A.Q., Yahaya, S.R.B., Rahman, M. and Akhtar, R., 2015. Exploring factors influencing farmers willingness to pay (WTP) for a planned adaptation programme to address climatic issues in agricultural sectors. Environmental Science and Pollution Research, 22(12) : 9494-9504. (ISI/SCOPUS Indexed Publication)
  • Nahid, A. A., Hossain, M. M., & Rahman, M. 2015. Effect of Some Metal Ions on the Photocatalytic Oxidation of Remazol Black B in Aqueous Solution under UV Irradiation. Journal of Advanced Oxidation Technologies, 18(1), 23-30. (ISI-Indexed)
  • Rahman, M., Albaity, M., & Isa, C. R. 2015. Exploration of Risk taking behaviors for Financial decision making in Malaysia. International Journal of Management Excellence, 5(3), 659-666. (Non-ISI/Non-SCOPUS)
  • Masud, M.M., Al-Amin, A.Q., Akhtar, R., Kari, F., Afroz, R., Rahman, M.S. and Rahman, M., 2015. Valuing climate protection by offsetting carbon emissions: rethinking environmental governance. Journal of Cleaner Production, 89, 41-49. (ISI-Indexed)
  • Albaity, M., Rahman, M., & Isa, C. R. 2015. Individual differences in ethno-gender as a function of cognitive style and behavioral biases. International Journal of Information Processing & Management, 6(2):137-145. (SCOPUS-Indexed)
  • Ali, M.A., Rahman, M.K., Rahman, M., Albaity, M. and Jalil, M.A., 2015. A review of the critical factors affecting Islamic market mechanisms in Malaysia. Journal of Islamic Marketing, 6(2): 250-267. (SCOPUS-Indexed)

  • Nahid, M.A.A., Hossain, M.M., & Rahman, M. 2014. Removal of Bractive T Blue by Photodegradation and Adsorption Using ZnO. Smart Science. 2(2), 70-74. (Non-ISI/Non-SCOPUS)
  • Rahman, M., Uddin, M.S.J., & Albaity, M. 2014. Socio-economic Conditions of Bangladeshi Migrant Workers in Malaysia. Journal of Basic and Applied Scientific Research (JBASR), 4(3), 246-252. (Non-ISI/Non-SCOPUS)
  • Rahman, M., Latifah, S., & Hajar, M. H. 2014. Human Resource Management (HRM) and Employee Misbehavior: A Study among Employees of Public and Private Companies in Malaysia. PENSEE Journal, 76(1), 67-76. (ISI-Indexed)
  • Albaity, M., Rahman, M. and Shahidul, I., 2014. Cognitive reflection test and behavioral biases in Malaysia. Judgment and Decision Making, 9(2), p.148. (ISI/SCOPUS Indexed Publication)
  • Rahman, M., Ali, M. A., Banna, H., & Rahman, M. S. 2014. Analysis of Quality Leadership in Reviving Economies and Politics in Muslim Countries. Business and Economic Research, 4(1): 133. (Non-ISI/Non-SCOPUS)

  • Azma, N., Rahman, M., & Albaity, M. 2013. Issues and Prospects of Islamic Hire Purchase Financing: Malaysian Evidence. Journal of Management Research, 6(1), 12-24. (Non-ISI/Non-SCOPUS)
  • Masoud, A., Rahman, M., and Albaity, M. 2013. Psychological Empowerment Antecedents and Cognitions International Journal of Information Processing and Management, Vol. 4, No. 4, pp. 137 ~ 145, 2013. (SCOPUS-Indexed)

  • Albaity, M. S., & Rahman, M. 2012. Gender, Ethnicity, and Religion and Investment Decisions: Malaysian Evidence. Journal of Sociological Research, 3(2), Pages-502. (Non-ISI/Non-SCOPUS)
  • Albaity, M., & Rahman, M. (2012). Behavioural Finance and Malaysian Culture. International Business Research, 5(11), p65. (Non-ISI/Non-SCOPUS)

(Project title), (Role), (From)-(Until), (Source), (Level).

  • Determinants of Individual Risk Attitude Towards Stock Market Participation, Co-Investigator, 2014-2015, Postgraduate Research Grant(Ppp), National
  • Develop Efficient and Effective Waqf Business Plan, Research Officer, 2014-2015, Geran Penyelidikan Universiti Malaya (Umrg), National
  • Study On Investment Trends, Issues and Prospects in The Aanzfta (Aanz-0019-Inv-3), Co-Investigator, 2012-2012, International Funding, International

(Name of Award), (Awarding Institution), (Year Awarded), (Level).

  • Winner of Maxis & Hotlink "Win to Market" Idea Challenge (Research Project), Maxis, 2015, (Community)
  • Bsn Academic Award (Doctoral Degree With Excellent Academic Results and Research), Bangladesh Student Night (Bsn), 2015, (Community)
  • Academic Excellence Award Year 2014 (Excellent Academic Results and Publications), University of Malaya, 2014, (University)
  • Bright Sparks Program Fund Scholar (Scholarship For Pursuing Doctoral Degree, Phd), University of Malaya, 2011, (University)
  • Faculty Best Student (Academic), International Islamic University Malaysia, 2010, (University)
  • Faculty Best Student (Overall), International Islamic University Malaysia, 2010, (University)
  • Department (Bba) Best Student, International Islamic University Malaysia, 2010, (Department)
  • Best Speaker in Inter Student S Resident Colleges Debate Competition, , Spice Department of International Islamic University Malaysia, 2010, (University)
  • Excellence Award (Rector S Award), International Islamic University Malaysia, 2008, (University)
  • Top Five Winners in Public Speaking Competition, Student Learning and Enhancing Unit of Iium,, 2007, (University)
  • Excellence Award (Rector S Award), International Islamic University Malaysia, 2007, (University)
  • Endowment Fund Scholar, International Islamic University Malaysia, 2006, (University)
  • Dean S Listed Award (Eight Consecutive Semesters), International Islamic University Malaysia, 2006, (University)

(Title), (Event), (Date Presented), (Organiser), (Level).

Invited Speaker
  • Time Management, Time Management Workshop, 17 Mar 2015 to 17 Mar 2015, Student Learning Enhancement Unit (SLEU), (National)
  • Time Management, Leap Power Programme, 18 Sep 2015 to 18 Sep 2015, Student Learning Enhancement Unit (SLEU)., (National)
  • Strategies for Taking Notes, Strategies for Taking Notes Workshop, 24 Sep 2014 to 24 Sep 2014, Student Learning Enhancement Unit (SLEU), (National)
  • Strategies for Taking Notes, Workshop on Strategies for Taking Notes, 19 Feb 2014 to 19 Feb 2014, Student Learning Enhancement Unit (SLEU)., (National)
  • Effective Time Management, Effective Time Management Workshop, 19 Nov 2014 to 19 Nov 2014, Student Learning Enhancement Unit (SLEU), (National)
  • Time Management & Strategy for taking Notes, Peer tutor training program, 26 Oct 2013 to 26 Oct 2013, Student Learning Enhancement Unit (SLEU)., (University)
  • Handphone choice: the brand preference in Malaysian market among universities students., Poster presentation at CAC Main hall, International Islamic University Malaysia, Gombak, Malaysia, 14 Jul 2010 to 14 Jul 2010, International Islamic University Malaysia, (University)
  • Enterprise Risk Management: Case of China, 6th Global Chinese Management Studies Conference 2016, 16 Aug 2016 to 18 Aug 2016, Chinese Management Studies, (International)
  • Is Enterprise Risk Management Valuable for Manufacturers?, China s Financial Market Conference 2016, 15 Dec 2016 to 16 Dec 2016, Sun Tzu Institute, China, (International)
  • Towards a better understanding of fashion clothing purchase involvement, IBAICM-16 conference, 19 Dec 2016 to 20 Nov 2016, Institute of Business Administration Karachi and Faculty of Business and Accountancy, University of Malaya, (International)
  • Necessity of effective and efficient business model for development of Waqf lands in Malaysia., MUKTAMAR WAQF IQLIMI II 2015, 26 Aug 2015 to 27 Aug 2015, UNIVERSITI SAINS ISLAM MALAYSIA (USIM), (National)
  • Determinants of effective and efficient business model for waqf land, 2nd International Conference on Innovative Trends in Multidisciplinary Academic (ITMAR), 20 Oct 2015 to 21 Oct 2015, Global Illuminators, (International)
  • Behavioral biases and financial risk tolerance: Evidence from Malaysia, Asia Pacific Conference on Accounting and Finance, 11 Jun 2015 to 12 Jun 2015, Faculty of Economics and Business, Universitas Brawijaya, Bali, Indonesia, (International)
  • Investing capital on safe and uncertain investment alternatives: An experimental study., Bali International Conference on Business, Economics and Social Sciences, 25 Jun 2014 to 26 Jun 2014, STEI, University of Selangor, Diponegoro University, State University of Jakarta, University of Riau, Perbanas Institute, Mercu Buana University, Ma Chung University, Esa Unggul University, Gunadarma University., (International)
  • Estimating Risk Attitudes toward Stock Market Investments in Malaysia, Innovation Challenges in Multidisciplinary Research and Practice, 13 Dec 2013 to 14 Dec 2013, Global Illuminators, (International)
  • Quality Leadership: A Powerful Tool, Reviving the Muslim Countries Economy and Politics., International Conference on Leadership & Social Change in the Muslim World: Prospects & Challenges, 15 Feb 2012 to 17 Feb 2012, International Islamic University of Malaysia, (International)
  • Multinational Financial Management: The impact of variation of laws, International Conference on Banking and Finance perspectives, 13 Apr 2011 to 15 Apr 2011, Department of Banking and Finance at Eastern Mediterranean University, (International)
  • Perceived to be a Powerful Institution to Save the World s Youth., International Conference on Islamic Solutions to Current Issues in the World based on 1 Malaysia Concept, 01 Jan 2011 to 03 Jan 2011, International Islamic University of Malaysia, (International)
  • Evolving Trend of Baby Dumping: New dimension of Social & Economical Problems in Malaysia., International Conference on Islamic Solutions to Current Issues in the World based on 1 Malaysia Concept, 01 Jan 2011 to 03 Jan 2011, International Islamic University of Malaysia, (International)
  • Hudud in Islamic Law between Violence and Blessing: Cutting Hand for Theft As an Example., International Seminar on comparative Law 2008,, 18 Nov 2008 to 20 Nov 2008, Islamic Science University of Malaysia, (International)
  • Business, Economics and Social Science., Bali International Conference on Business, Economics and Social Science. Indonesia College of Economics, 25 Jun 2014 to 26 Jun 2014, Indonesia College of Economics, (International)


Post Graduate Level
(Name of Degree), (Name of Candidates), (Title of Thesis), (Academic Session)


(Course Title), (Academic Session), (No of Student), (No of Contact Hours).

First Degree
  • PRINCIPLES OF MACROECONOMICS, 2016/2017(1), 300, 78
  • CORPORATE FINANCE, 2016/2017(1), 105, 28
  • FINANCIAL MANAGEMENT, 2015/2016(2), 31, 42
  • CORPORATE FINANCE, 2015/2016(1), 23, 56
  • FINANCIAL MANAGEMENT, 2015/2016(1), 28, 42
  • PRINCIPLES OF MACROECONOMICS, 2015/2016(2), 100, 48
  • ADVANCED MANAGERIAL FINANCE, 2015/2016(2), 50, 26
  • BUSINESS STATISTICS, 2014/2015(2), 120, 52
  • CORPORATE FINANCE, 2014/2015(2), 30, 26
  • BUSINESS STATISTICS, 2013/2014(1), 50, 52
  • BUSINESS STATISTICS, 2012/2013(1), 60, 39
  • BUSINESS STATISTICS, 2012/2013(1), 50, 26
  • BANK MANAGEMENT, 2010/2011(1,2), 15, 30
  • CORPORATE FINANCE, 2009/2010, 15, 30
  • INTERNATIONAL BUSINESS, 2009/2010(1), 10, 10
  • INTERNATIONAL FINANCE, 2009/2010(2), 10, 20
  • FINANCIAL MANAGEMENT 2, 2008/2009(1,2,3), 20, 90
  • BUSINESS MATHEMATICS, 2008/2009(1), 15, 50
  • FINANCIAL MANAGEMENT 1, 2007/2008(1,2,3), 30, 100

(Description), (Evaluation Activity),(Year).

  • Asian Journal of Business and Accounting (AJBA), Article In Journal ,  (2016)
  • Social Indicators Research Journal, Article In Journal ,  (2016)
  • MBA Thesis, Thesis ,  (2016)
  • MBA Thesis presentation, Thesis ,  (2016)
  • PeerJ Journal, Article In Journal ,  (2016)

(Contribution To Society), (Level), (Start Date), (End Date).

  • Committee Member for Learning Space Grant Application 2016, (University), 2016-06-24 until 2016-08-19
  • Committee Member for Student Activities of Department of Banking and Finance, (Department), 2016-06-10 until 2018-06-08
  • Judge for HULT Prize Competition 2015, (University), 2015-12-05 until 2015-12-05
  • Supervisor for social engagement program (Conducting educational program for less privileged school children at a village in Melaka, Malaysia), (University), 2017-02-17 until 2017-02-19
  • Committee Member of China Financial Markets Conference Organized by Banking and Finance Department, (University), 2016-06-09 until 2016-12-16
  • Organizing Committee Member for the 3rd MFPC National Financial Planning Tournament 2016, (National), 2016-08-01 until 2016-10-11