With Master's degrees in Poltical Economy and Statistics and Ph.D in Economics I have 39 years experience in economic policy & planning, in teaching and training, in institutional capacity building, in research and in advising and consulting.
I got the opportunity to work in the area of Economic policy and planning while working in Ministry of Planning, Government of Pakistan for 13 years in various senior positions. My important works related to issues concerning international economics and macreconometeric planning and forecasting models. My research has been instrumental in rationalizing highly overvalued currency in early 1970s, in preparing a plan to increase countries exports by 100 percent within three years and in developing and using a planning and forecasting models for macroeconomic planning of the country.
In the context of institutional capacity builiding, I played instrumental role in establishing and enhanicing the capacity of School of Economics of International Islamic university. I developed the undergraduate and graduate program of the School. This program proved to be the most successful program in Economics in the country. I also built research capacity of the Islamic Research and Training Insitute of Islamic Development Bank. I laid down the basis of the establishment of a program on Islamic economics and finance in Islamic Foundation which has now developed into Markfield Instiute of Higher Education, Leicester, UK. Presently, I am building and developing the Centre of Islamic Business at the Riphah International Islamic University, Islamabad which would not only offer graduate program in Islamic business and finance but will also provide advisory and consultancy services in this field.
I published 10 books and several articles in refereed international journals besides contributing numerous conference papers, working papers and policy papers.
I advised several national and international bodies on development issues and on. In 2003, When the Supreme Court of Pakistan, asked the central bank of country to form a high level commission to transform the financial system of the country to conform to Shari'a, my services were borrowed from Islamic Development Bank to be the adviser to the Governor, State Bank of Pakistan and to be the member/secretary of the high level commission. The work of the commission is the basis of the Islamic financial system now in practice in Pakistan
Currently, I am Professor and Chairman, Riphah Centre of Islamic Business, Riphah International University, Islamabad, under the Foreign Faculty program of Higher Education Commission (HEC) of Pakistan and I am also HEC approved thesis adviser in the country.
• Educational Qualification:
Ph.D. (Economics) Boston University, USA, 1978
M. A. (Political Economy) Boston University, USA, 1977
M. A. (Statistics) Punjab University, Pakistan,1968
• Work Experience:
Thirty Nine years experience of
• teaching/training in economics/business
• economic planning and policy research and
• teaching and research in Islamic Economics, Banking and Finance
• Fluency in English language with fair knowledge of Arabic Language
• Suprvised/examined Master's level, M.Phil level and Ph.D. level Theses of students at universities in Pakistan as well as of students abroad
• Permanent Residence in USA
• Details of Work Experience
• September 2007 to July 2008
Professor of Islamic Finance at Darul Hikmah, Jeddah
Consultant to Al-Asr, Jeddah
Adviser, COMSAT, Islamabad
• August 1988 to September 2007
(Islamic Development Bank, Jeddah, Saudi Arabia)
-Managing Research Division and Training Division of the Research and Training Institute of the Islamic Development Bank
-Organizing training programs for capacity building in member countries of IDB in areas of development
-Preparing and implementing short term and long term research programs relating to theory and practice of Islamic economics and finance, deveopment issues faced by IDB member countries and policy issues relating toenhancing economic cooperation among the member countries.
-Also given the responsibility to Manage the Institute in the capacity of Acting Director for about two years (1994-96)
1) I was hired as Research Officer in the Research Division but within a period of less than two years I was promoted to the position of Head, Research Divison and then within fours year to the Director (Islamic Development Bank) level position
2) The program of research led by me in the capacity of Head of Research Division led to more than 200 research publications. The research output of the Division earned an international reputation for the Institute not only in member countries but also in non member countries. The Institute is now considered a think tank in the area of Islamic banking and finance because of the research produced by the Institute.
3) Central Bank Governor of Pakistan requested IDB to lend my services to them to help them restructure and reform the financial system in Pakistan with respect to the practice of Islamic banking. I Advised the Central Bank of Pakistan for about two years on Transformation of Financial System of Pakistan to confirm to Shari'a.
4) Published Research, books, monographs in areas of interest to IDB. The research output in the area of Islamic banking and finance is being referred and utilized in universities, central banks and financial institutions in member countries.
5) Also published, during the same period, personal research (books and articles) outside the Institute including the articles published in refereed journals.
• September 1981 to August 1988
Professor of Economics And Director School of Economics
(International Islamic University, Islamabad, Pakistan)
-Managing B.Sc, M.Sc and Ph.D degrees offered by the School of Economics.
-Also was given, of and on, the responsibility to Manage International Islamic University in the capacity of Vice President (Administration) and Vice President (Academics), in the long term absence of the incumbents
-Teaching undergraduate and graduate courses
-Publishing research research in refereed journals
1) I initiated the first B.Sc Economics program of economics university and planned its quality at international standards. This was unprecedented in the whole country. It was a four year program after 18years of schooling, whereas all other universities in the country, without exception, were running a two years program of B.Sc program. The standards of teaching as well as reading material was maintained at the level of top 2nd Tier universities in USA. The first batch passed out in 198, all of them got placed in prestigeous positions in public as well as private sector gave an unprecedented reputation to the School. The M.Sc Economics program met even a higher level of success. Impressed by the quality and standard of our program, seven of our M.Sc students were awarded scholarship by an international organization to go to USA for Ph.D. Another 3 students got merit scholarship from the US universities directly.
2) The King Abdulaziz University, Jeddah, Saudi Arabia sought my services for a year to contribute to the development of their Center for Research in Islamic Economics
3) Published research in the form of books and articles in refereed international journals
June 1969 to August 1981
Ministry of Planning, Government of Pakistan,
(In the positions of Planning Officer, Assistant Chief, Deputy Chief in International Economics and Economic Research Sections dealing with macro economic planning)
-Conducting research related to Economic Plannning and policies at national level,
-drafting policy papers
-drafting chapters of the five year and annual plans. Main areas of work included International Trade, Balance of Payment and Macro Econometric Model Building for Planning and Forecasting.
-Drafting reports of working Groups, Committees and Commissions on economic policies and on short term, medium term and long term economic plans
1) The first research, I took on my own initiative, related to international valuation of Pakistani currency. There was a strong debate among policy whether the currency is overvalued and whether or not it should be devalued. My research calculated the effective exchange rate (as opposed to the norminal exchange rate) and how it was moving over time. The paper was highly appreciated in the Ministry of Planning and Ministry of Finance and proved instrumental in rationalizing the interntional of Pakistani Rupee. This research was then published in the Journal of Pakistan Economic Association.
2) Served as member/secretary of various working groups for the five year plan and also drafted some chapters of the annual and five year plan document.
3) Was sent to Boston University to do Ph.D. Economics where I completed Ph.D degree in three years and returned back to the Ministry of Planning
4) Was sent under the order of the President of Pakistan to the newly established International Islamic University, Islamabad to develop the school of Economics of the University.
• Other Experiences
Adviser to the State Bank of Pakistan (Central Bank of the Country) from 2000-2002, member-secretary to their high level Commission on Transformation of Financial System
Adviser to Pakistan Institute of Development Economics, Islamabad on their project (1983-86) "Econometric Forecasting Model for Pakistan". Also official reviewer of their project
Consultant to Marga Institute, Colombo, Sri Lanka (1982-84) on their project "Labor Migration to Middle East" and on the project "Trade Channels and Payments Arrangements in South Asia" Sponsored by International University Tokyo, Japan
Consultant to Pakistan Institute of Public Opinion on the sampling techniques for their national opinion surveys (1979-81)
Consultant to Pakistan Narcotics Control Board on planning and supervising their sample surveys of poppy growing areas (1972-74) Sponosored by UNDP
Consultant to Pakistan Institute of Development Economics on their project on International Labor Migration to the Middle East, Sponsored by the World Bank (1979-1981)
Member, Board of governors (Academic Group), Institute of Islamic Banking and Insurance, London, Since 2000
Member, Editorial Board, Pakistan Development Review, Pakistan Institute of Development Economics, Since 1995
Member, International Board, Islamic Economic Review, UK
Reviewed articles for different referreed journals in economics and finance