Salford Business School

Recognised internationally for teaching and research excellence


Dr Nazam Dzolkarnaini

Postgraduate Associate Director: Accounting, Finance & Economics & Lecturer in Accounting & Finance

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Nazam is an internationally renowned Islamic Finance research scholar specialising in Sukuk and corporate financing topics. He is very instrumental in developing the EPAS-accredited MSc Islamic Banking & Finance programme at Salford. He also holds visiting lectureship position in Islamic Economics and Finance at the Al-Maktoum College of Higher Education, Dundee, Scotland. He participated in the HEA Islamic Studies Think Tank meeting and currently a member of the British Association for Islamic Studies (BRAIS) and the International Council of Islamic Finance Educators (ICIFE). In August 2014, he was invited by the Malaysia Government to speak at the Global Round Table Discourse on Islamic Finance Education in Kuala Lumpur. He also attended the first Global Ethical Finance Forum hosted by the Scottish Government in Edinburgh, Scotland.

Nazam specialises in Corporate Finance and Islamic Finance research. His PhD thesis on Determinants of the Use of Debt and Leasing in UK Corporate Financing Decisions was jointly funded by the British Government’s Overseas Research Students Awards Scheme (ORSAS) and the University of Stirling. He was made as the Vice-Chancellor’s Early Career Research scholar in 2009. He currently supervises several doctoral students in the areas of financial planning, Islamic financial system, capital structure and mutual funds performance. He sits on the Editorial Advisory Board of the European Journal of Islamic Finance, International Journal of Excellence in Islamic Banking and Finance and Journal of Accounting Perspectives. He is also an ad-hoc reviewer for a number of journals, books and conference papers. He has facilitated academic conference, workshop and seminars.

Prior to his academic career, he was an accountant in a foreign public listed company involving in corporate financial reporting, financial management information system and internal control aspects of the business. He also had experience in investment and financial planning during his engagement as a consultant within several financial institutions. He qualified as an Associate Chartered Accountant (ACA) with Chartered Accountants Australia and New Zealand and a Certified Financial Planner (CFP) licensee of CFP Board of Standard Inc., USA. He is also a Fellow of UK Higher Education Academy.

He has been an external examiner at Wales Trinity St David, Leeds Beckett and Bedfordshire. 


Islamic Financial Markets, Instruments & Products (MSc)

Contemporary Issues in Accounting (MSc)

Corporate Financial Strategies (MSc)

Managing the Organisational Resource (MBA)

Financial Management & Social Accounting (MBA)

Financial Accounting (Year 2 BSc)

Research Interests

Corporate finance

Islamic finance

Corporate governance

Personal financial planning

Qualifications and Memberships

PhD Finance (Stirling)

MSc Finance with Distinction (Stirling)

PG Certificate in Higher Education Practice & Research (Salford)

BCommerce (1st Class Honours) (Lincoln NZ)

Associate Chartered Accountant (ANZ)

Certified Financial Planner (CFP USA)

Fellow Higher Education Academy (UK HEA)

British Accounting & Finance Association (BAFA)

British Association for Islamic Studies (BRAIS)

International Council of Islamic Finance Educators (ICIFE)



“Islamic corporate financing: does it promote profit and loss sharing?”, Business Ethics: A European Review, forthcoming (with Marizah Minhat)

“Is executive compensation a substitute governance mechanism to debt financing and leasing?”, Applied Economics, 48(14), 2016, pp.1293-1302 (with Marizah Minhat)

“Islamic financial instruments in corporate firms’ balance sheet: a research note”, International Journal of Excellence in Islamic Banking and Finance, 2(2), 2012, pp.65-75 (with Marizah Minhat)

“Capital control regime and capital structure determinants: a Malaysian case”, Malaysian Accounting Review, 5(1), 2006, pp.1-41. Note: This paper was awarded First Prize winner in the inaugural Malaysian Institute of Accountants (MIA) and Malaysian Accountancy Research and Education Foundation (MAREF) Outstanding Research Paper Award (MORPA) 2005