Dr. Mohammad Omar Farooq

Introduction

Current Position: Associate Professor
Email Address: dr.mohammad.farooq@gulfuniversity.edu.bh
Title: Associate Professor
College: ADMINISTRATIVE AND FINANCIAL SCIENCES
Department: Accounting & Financial Sciences

Qualification

    • Postdoctoral fellow, Energy and Resources Group, University of California Berkeley, USA, 1988-1989.
    • PhD in Economics, University of Tennessee, Knoxville, USA, 1988.
    • MA in Applied Economics, University of Central Florida, USA, 1983.
    • Bachelor of Science, Business, Troy State University, Alabama, USA, 1982.

Professional Membership

    • Bahrain Economists Society.

Teaching & Learning Statement

Dr. Farooq is a lifelong learner and, as such, it is his vision and passion that every learner with which his life crosses he will try to inspire them to be lifelong learners. While many of us focus on our students’ learning, we should also be helping them to learn by developing their learning capacity, inculcate a positive attitude and instill a sense of purpose.

As an economist with specialization in finance, he approaches the field of economics and finance as part of “human-centered” disciplines where we need to have sensitivity to economic challenges the humanity/community faces, so that with a problem-solving orientation we harness our full potential capacity to address those real world problems.

His specialization is anchored in economics (with focus on financial markets and institutions) his teaching career has been mostly in programs where they wanted someone to teach both economics and finance. Gradually, his focus has straddled both. He brings to classroom fresh perspectives that, beyond the traditional contents of the syllabus and text, make the students aware and enable them to study their field of economics and finance as critical thinkers and with interdisciplinary approach so that they never lose sight of the real world problems and issues.

His teaching style is highly interactive, as he is a passionate promoter of critical thinking. He is a Microsoft Certified Educator, incorporating engaging style and contemporary technology as suitably relevant and warranted.

Experience

Dr. Farooq is an accomplished educator, an effective trainer, an engaging public speaker, an active researcher, a prolific author on myriad of issues, a contributor to critical/creative thinking and mind-building.

He is an associate professor with extensive background in all four areas of education: teaching, research, administration and curriculum/quality assurance and accreditation. He taught for twenty years at three universities in the United States. After coming to Bahrain and before joining Gulf University, he has been Acting Dean of Business at Royal University for Women, Head of Center for Islamic Finance at Bahrain Institute of Banking and Finance and associate professor with the Department of Economics and Finance at University of Bahrain.

His teaching interest and experience broadly spans economics, finance, Islamic economics/finance/banking/law, Fintech, and more.

He is ranked in top 1% of Social Science Research Network (SSRN) based on the download of his papers. He has also been ranked among the ISLAMIC 500: The 500 That Make the Islamic Economy.

Research Interest

His primary research interests are economic development, financial markets and institutions, history of economic thoughts, comparative economic systems and Islamic economics/finance/banking/law.

His works have been published in Journal of Economic Issues, History of Economic Ideas, International Journal of Social Economics, International Journal of Ethics and Systems, International Journal of Islamic and Middle Eastern Finance and Management, Review of Islamic Economics, Arab Law Quarterly, ISRA International Journal of Islamic Finance, Journal of Islamic Accounting and Business Research, Journal of Islamic Financial Studies and more. In addition to academic research, he has a keen interest in gender studies and genocide studies.

Selected Publication

  • Journal Publications

a. Economics, finance and business (conventional and Islamic)

    • Farooq, Mohammad Omar (2022). “Islam-Compliance, Beyond Shari’ah-compliance: Toward a Broader Socioeconomic Transformation,” Arab Law Quarterly, Scopus indexed: https://doi.org/10.1163/15730255-bja10121.
    • Rahman, Mahbubur., Farooq, Mohammad Omar and Selim, Mohammad (2021). “Mitigating Educated Youth Unemployment in Bangladesh,” Journal of Developing Areas, Vol. 55, No. 1, pp. 185-200, 2021.
    • Farooq, Mohammad Omar (2020). “Islamic finance eclipsing Islamic economics: Causes and Consequences,” History of Economic Ideas, Vol. XXIII, No. 1, pp. 53-85, (Scopus indexed).
    • Selim, Mohammad and Farooq, Mohammad Omar (2020). “Elimination of Poverty by Islamic value based cooperative model,” Journal of Islamic Accounting and Business Research, Vol. 11, No. 5, pp. 1121-1143 (Scopus indexed: https://doi.org/10.1108/JIABR-08-2018-0125).
    • Farooq, Mohammad Omar (2019). “Banking Structure and Riba-Interest Equation: The Case for Ta’awuni (cooperative) Finance,” Journal of Islamic Financial Studies, Vol. 5, No. 2, 90-108, http: //dx.doi.org/10.12785/jifs/050203.
    • Farooq, Mohammad Omar., Elseoud, Mohamed, Turen, Seref and Abdulla, Mohammed (2019). “Causes of Non-Performing Loans: The Experience of Gulf Cooperation Council Countries,” Entrepreneurship and Sustainability Issues, 6(4): 1955-1974; Scopus; ESCI), http://doi.org/10.9770/jesi.2019.6.4(29).
    • Farooq, Mohammad Omar., Meer, Fouad and Iqbal, Basit (2019). “Inequality, Concentration of Wealth and Ownership Structure of Islamic Banks: Some Pertinent Issues,” International Journal of Ethics and Systems, Vol. 35, No. 3, 444-465, Scopus/ESCI, https://doi.org/10.1108/IJOES-11-2018-0155.
    • Farooq, Mohammad Omar (2019). “Rent-Seeking Behavior and Injustice/Exploitation (Zulm) Beyond Riba-Interest Equation,” ISRA International Journal of Islamic Finance, Vol. 11, No. 1, pp. 110-123, 2019; Scopus/ESCI, https://doi.org/10.1108/IJIF-07-2018-0073
    • Farooq, Mohammad Omar Selim, Mohammad (2018). “Conceptualization of the Real Economy and Islamic Finance: Transformation beyond the Asset-Link Rhetoric,” Thunderbird International Business Review, Vol. 61, No. 5, pp. 685-696, Scopus/ESCI, https://doi.org/10.1002/tie.22013.
    • Farooq, Mohammad Omar., Nadeem Ebrahim Taher and Ahmed Alkhenaizi (2018). “Sectoral Distribution and Islamic Finance: Comparative Study of Conventional and Islamic Banks in Bahrain,” Journal of Islamic Financial Studies, Vol. 4, No. 2, pp. 102-121.
    • Al-Haq, Ashraf and Farooq, Mohammad (2017). “Zakat, Persistence of Poverty and Structural Incidental Segmented Approach: A Survey of Literature,” Journal of Islamic Financial Studies, Vol. 3, No. 1, pp. 17-31.
    • Farooq, Mohammad Omar and El Ghattis, Nedal (2015). “Qard Hasan, Credit Cards and Islamic Financial Product Structuring: Some Qur’anic and Practical Considerations,” Journal of Islamic Financial Studies, Vol. 1, No. 1, pp. 1-17.
    • Farooq, Mohammad Omar (2015). “Islamic Finance and Debt Culture: Treading the Conventional Path?” International Journal of Social Economics, Vol. 42, No. 12, pp. 1168-1195 (Scopus/ESCI).
    • Farooq, Mohammad Omar (2014). “Islamic Wealth Management and the Pursuit of Positive-sum Solutions,” Islamic Economic Studies, Vol. 22, No. 2, pp. 99-124.
    • Farooq, Mohammad Omar and Reza, Md. Hasib (2014). “Dow Jones Islamic Market U.S. Index: Applying Technical Analysis from a Comparative Perspective” International Journal of Islamic and Middle Eastern Finance and Management, Vol. 7, No. 3, pp. 395-420 (Scopus/ESCI).
    • Ibrahim, Ahmad Asad., Elatrash, Radwan and Farooq, Mohammad Omar (2014). “Hoarding versus Circulation of Wealth from the Perspective of Maqasid Al-Shariah,” International Journal of Islamic and Middle Eastern Finance and Management, Vol. 7, No. 1, pp. 6-21 (Scopus/ESCI).
    • Farook, Sayd Z. and Farooq, Mohammad Omar (2013). “Shariah Governance, Expertise and Profession: Educational Challenges in Islamic Finance,” ISRA International Journal of Islamic Finance, Vol. 5, No. 1, 2013, pp. 137-160 (Scopus/ESCI).
    • Farooq, Mohammad Omar (2012). “Exploitation, Profit and Riba-Interest Reductionism,” International Journal of Islamic and Middle Eastern Finance and Management, Vol. 5, No. 4, pp. 292-320 (Scopus/ESCI).
    • Farooq, Mohammad Omar (2011). “Qard Hasan, Wadiah/Amanah and Bank Deposits: Applications and Misapplications of Some Concepts in Interest-free Banking,” Arab Law Quarterly, Vol. 25, No. 2, pp. 115-146 (Scopus/ESCI).
    • Farook, Sayd Z. and Farooq, Mohammad Omar (2011). “Incentive Based Regulation for Islamic Banks,” Journal of Islamic Accounting and Business Research, Vol. 2, No. 1, pp. 8-21 (Scopus/ESCI).
    • Farooq, Mohammad Omar (2011). “Self-Interest, Homo Islamicus and Some Behavioral Assumptions in Islamic Economics and Finance,” International Journal of Excellence in Islamic Banking and Finance, Vol. 1, No. 1, pp. 52-79.
    • Farooq, Mohammad Omar (2009). “Islam and the Riba-Interest Equation: Reexamination of the Traditional Arguments,” Global Journal of Finance and Economics, Vol. 6, No. 2, pp. 99-111.
    • Farooq, Mohammad Omar (2009). “The Challenge of Poverty and Mapping Out Solutions: Requisite Paradigm Shift from a Problem-Solving and Islamic Perspective,” Journal of Islamic Economics, Banking and Finance, Vol. 5, No. 2, pp. 45-76.
    • Farooq, Mohammad Omar (2009). “Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum?” Review of Islamic Economics, Vol. 13, No. 1, pp. 105–142.
    • Farooq, Mohammad Omar (2009). “Islamic Critique and Alternative to Financial Engineering Issues,” Journal of King Abdul Aziz University in Islamic Economics. Vol. 22 No. 2, pp. 83-89 (Scopus indexed).
    • Farooq, Mohammad Omar (2008). “The Challenge of Poverty and the Poverty of Islamic Economics,” Journal of Islamic Economics, Banking and Finance, Vol. 4, No. 2, pp. 35-58.
    • Farooq, Mohammad Omar (2007). “Stipulation of Excess in Understanding and Misunderstanding Riba (Interest): The al-Jassas Connection,” Arab Law Quarterly, Vol. 21, No. 4, pp. 285-316. (Scopus/ESCI).
    • Farooq, Mohammad Omar (2007). “Partnership, Equity-Financing and Islamic Finance: Whither Profit-loss Sharing?” Review of Islamic Economics, Vol. 11, pp. 67-88.
    • Farooq, Mohammad Omar (1988). “Basic Needs Approach, Appropriate Technology, and Institutionalism,” Journal of Economic Issues, Vol. 22, No. 2, pp. 363-370 (Scopus/ESCI).

b. Other/Interdisciplinary

    • Lacheret, Arnaud and Farooq, Mohammad Omar (2020). “The Islamic Veil in the Gulf and Arabian Modernity,” Arabian Humanities, Vol. 14, https://journals.openedition.org/cy/6496.
    • Farooq, Mohammad Omar (2020). “Gender Issues and the Search for a Hadith: A Journey in Scholarly Due Diligence,” Islam and Civilizational Renewal, Vol. 11, No. 1, pp. 94-109.
    • Farooq, Mohammad Omar (2019). “An Appraisal of Ibn Khaldun’s Defense of Mu’awiya: The Dynamics of Asabiyyah, Mulk and the counter-revolution according to the Muqaddima,” Journal of Islamic and Muslim Studies, Vol. 4, No. 1, pp. 87-106.
    • Farooq, Mohammad Omar (2018). “The Last Sermon of Prophet Muhammad: An Analytical Review,” Islam and Civilisational Renewal, Vol. 9, No. 3, pp. 322-342.
    • Farooq, Mohammad Omar and El Ghattis, Nedal (2018). “In Search of the Shari’ah,” Arab Law Quarterly, (2018), Vol. 32, No. 4, pp. 315-354, Scopus/ESCI), https://doi.org/10.1163/15730255-12322051.
    • Ali, Qazi A. and Farooq, Mohammad Omar (2017). “Statistics in Islamic Scriptures and Legacy,” Islam and Civilization Renewal, Vol. 8, No. 4, pp. 473-487.
    • Farooq, Mohammad Omar (2011). “Analogical Reasoning (Qiyās) and the Commodification of Women: Applying Commercial Concepts to the Marital Relationship in Islamic Law,” Islam and Civilisational Renewal, Vol. 3, No. 1, pp. 155-180.
    • Farooq, Mohammad Omar (1007). “The Riba-Interest Equivalence: Is there an Ijma (consensus)?” Transnational Dispute Management, Vol. 4, No. 5, https://www.transnational-dispute-management.com/article.asp?key=1063

Chapters Contributed

    • Farooq, Mohammad Omar and Miah, Mohammad Dulal) (2022, forthcoming). “Fintech, Technomania and Persistent Socio-Civilizational Challenges,” in Yasushi Suzuki and Mohammad Dulal Miah (eds). Digital Transformation in Islamic Finance (Routledge).
    • Osmani, Noor., Farooq, Mohammad Omar and Ahmad, Abu Umar Faruq (2020). “Women Empowerment and Leadership in Islam between Myth and Reality,” in Azid, Toseef and Ward-Batts, Jennifer (eds). Economic Empowerment of Women in the Islamic World: Theory and Practice (London, UK: World Scientific), pp. 39-70.
    • Tanin, T., Ahmad, A. and Farooq, Mohammad Omar (2021). “What Determines Bank Profitability? Empirical Evidence from Turkish Banking Sector”, in Azid, T., Mukhlisin, M., Akbar, N. and Tahir, M. (Eds.) Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview (Bingley, UK: Emerald Publishing Limited), pp. 247-265. https://doi.org/10.1108/978-1-80043-786-920211014
    • Hidayat, Emir Sutan., Farooq, Mohammad Omar., Nasution, Atiqoh and Sari, Citra Atrina (2020). “Covid-19 and Its Impacts on the Islamic Financial Industry in the OIC Countries,” in Emir Sutan Hidayat, Mohammad Omar Farooq and Emmy Abdul Alim (eds). Impacts of the COVID-19 Outbreak on Islamic Finance in the OIC Countries (Kneks, Jakarta), pp. 1-7, https://salaamgateway.com/story/covid-19-and-its-impacts-on-the-islamic-financial-industry-in-the-oic-countries.
    • Farooq, Mohammad Omar and Hadi, Fareed (2020). “Islam and Business: Beliefs, Values and Norms” in Minwir al-Shammari, Mohammad Farooq and Hatem al-Masri. Islamic Business Administration: Concepts & Strategies (Macmillan), pp. 3-17.
    • Farooq, Mohammad Omar and Alkhan, Ahmed (2020) “Case Studies in Shariah Governance in Practice: Bahrain,” in Ali, Syed Nazim, et al. (eds) The Edinburgh Companion to Shariah Governance in Islamic Finance, Edinburgh University Press, (Link).
    • Ahmad, Abu Umar Faruq., Muneeza, Aishath., Farooq, Mohammad Omar and Rashedul Hasan (2019). “Post-Default Sukuk Restructuring: Critical Appraisal of Shari’ah Issues,” in Rashid, Mamunur (Ed.). Management of Islamic Finance: Principles, Practices and Performance, Emerald (Emerald IFR Series, Scopus Indexed).
    • Al-Shammari, Minwir., Farooq, Mohammad Omar and Masri, Hatem (2015). “Multiple Criteria in Islamic Portfolio Selection,” in Al-Shammari, M. and Masri, H. (eds.) Multiple Criteria Decision Making in Finance, Insurance and Investment, Springer, 1-7.
    • Farooq, Mohammad Omar and Vivek, Sowmya (2014). “Displaced commercial risk (DCR) and value of alpha (α%) for Islamic banks in Bahrain,” in M. Asutay and A. Turkistan (eds.) Islamic Finance: Risk, Stability and Growth, Gerlach, Berlin.
    • Farooq, Mohammad Omar (2014). “Islamic Wealth Management and Some Unconventional Thoughts,” Q Report, Issue 1, pp. 45-52.
    • Farooq, Mohammad Omar (2013). “Contemporary Islamic Economic Thought,” in Karen Hunt-Ahmed (ed.). Contemporary Islamic Finance: Innovations, Applications and Best Practices, Wiley, pp. 19-38.
    • Farooq, Mohammad Omar (2012). “Islamic Finance and Poverty Alleviation,” Global Islamic Finance Report.
    • Farooq, Mohammad Omar (2009). “Islam and Genocide: The Case of Bangladesh in 1971,” in Steven Jacobs (ed.), Religion and Genocide: A First Reader, Palgrave/Macmillan.
    • Farooq, Mohammad Omar (1994). “Elimination of Secret Swiss Bank Accounts Ends a Myth,” an article in Great Events in Business and Commerce in 20th Century: Volume II, Salem Press, California.

Books

    • Hidayat, Emir Sutan., Farooq, Mohammad Omar and Alim, Emmy Abdul (2020). Impacts of the COVID-19 Outbreak on Islamic Finance in the OIC Countries (KNEKS, Jakarta.
    • Al-Shammari, M., Farooq, Mohammad Omar and Masri, H. (eds.) (2020). Islamic Business Administration: Concepts and Strategies (Macmillan).
    • Farooq, Mohammad Omar (2011). Toward Our Reformation: From Legalism to Value-Orientation in Islamic Law & Jurisprudence (Herndon, Virginia: International Institute of Islamic Thought).