Dr. Shariq Nisar

Professor, Economist


Dr. Shariq Nisar is a well-known figure in the Indian financial sector. He moved to Mumbai in 2003 after finishing his PhD in Economics at Aligarh Muslim University and did a course on Capital Markets at the University of Mumbai. Dr Shariq has served and consulted with some of India's biggest financial institutions, including the Bombay Stock Exchange, National Stock Exchange, GICRe, Tata Asset Management, Taurus Asset Management, and others, over the last 15 years. He continues to serve on the boards of several companies. Having made a pioneering contribution to the Indian finance sector, Dr Shariq turned his attention towards academia when he joined the Harvard Law School as a Senior Visiting Fellow in 2013. During his stint at the Harvard Law School, he interacted and exchanged views with some of the most recognised names in academia such as Nobel laureates Professor Amartya Sen, Professor Mohammed Younus, Prof. Samuel Hays, Prof. Vogel E Frank, Prof. Noah Feldman, Prof. Shahab Ahmad, etc. He audited a course on Current Topics in Financial Regulation under renowned Professor Howell Jackson.

Upon his return to India, Dr Shariq established India's first Centre for Alternative Finance in 2015 and shortly afterwards he joined Rizvi institute of Management Studies and Research as a full-time professor. Dr Shariq Nisar has made more than 50 international visits as an invited speaker for conferences and seminars in Europe, North and South Americas, Middle East, South Asia and Southeast Asia. He has published 3 books and 60 plus research papers and articles. He was invited to make a presentation before the Select Committee of Indian Parliament during the discussion on the Insurance Amendment Act, 2015.

He has delivered special lectures and seminars at Harvard University, University of Liechtenstein, Tufts University, University of Ecuador, Vienna University of Economics and Business, among many others. Every year he teaches a course at the University of Luxembourg. At Rizvi, Dr Shariq teaches courses on Managerial Economics and Financial Markets and Institutions.

Dr Shariq Nisar is a recipient of Skoch Digital Inclusion Award 2011; Editor’s Choice Award 2018 from Mid Day Media and IFFSA International Award, 2016 for his contribution to the Indian finance industry. In 2020 he received the Bharat Inclusion Research Fellowship.

At a Glance


Dr. Shariq Nisar

A passionate finance professional and industry specialist with 20+ years of professional career.

  • shariqnisar[at]yahoo.com


PhD (Economics)

1998 - 2003

Aligarh Muslim University (AMU), Aligarh, India

Thesis: Recent Developments in Banking Organizations: With Special Reference to Islamic Banking and Finance

Masters of Arts (Economics)

1995 - 1997

Aligarh Muslim University (AMU), Aligarh, India

First Division, Major, International Finance and Islamic Economics

Bachelors of Arts(Hons)

1992 - 1995

Aligarh Muslim University (AMU), Aligarh, India

First Division, Economics, Geography and Political Science

Certificate Program in Capital Market (CPCM)


University of Bombay and the BSE Institute, India

First Division

Academic Experience

Principal In-Charge

2021 - Present
Rizvi Institute of Management Studies and Research

RIMSR, Mumbai


2016 - Present
Rizvi Institute of Management Studies and Research

RIMSR, Mumbai

Adjunct Professor

2015 - 2020

ITM Business School, Navi Mumbai (Founder and Mentor, India’s First Centre for Alternative Finance)

Research Consultant

2017 - 2020

BSE Institute (A wholly owned subsidiary of BSE)

Industrial Experience

Independent Director


Transpact Enterprise Ltd.
Mumbai based Medical device company

Independent Director


Rehbar Financial Consultant
Bangalore Based Crowd Funding Platform



Bait-un-Nasr Urban Cooperative Credit Society
Mumbai Based Microfinance Society



Board of Trustees Uplift India Association
A Micro-Healthcare and Financing Initiative



Ethics Committee, Mountjudi Ventures
A SEBI Approved Venture Capital Fund



Tata Mutual Funds,
strategy Advisor to Tata Ethical Fund


Dr. Shariq Nisar

  • Takaful and Islamic Cooperative Finance: Challenges and Opportunities, (Co-Edited with S Nazim Ali) ISBN: 978 1 78536 335 1, Edward Elgar, UK, 2016.
  • Islamic Finance and Development, Cambridge, Massachusetts: Harvard Law School, University, 2014, 350p. ISBN 097028358X (Co-Edited with S Nazim Ali and U. Oseni).
  • Islamic Banking, Finance and Capital Market, used by the Bombay Stock Exchange (BSE) Institute as text book for online Islamic Finance Certification Program, 2013 (co-authored with Mohd Ayub Khan).

Book Reviews

  • Islamic Financial Institutions of India: Progress, Problems and Prospects, By: M.I. Bagsiraj, Scientific Publishing Centre, King Abdul Aziz University, Jeddah, Saudi Arabia. Reviewed by Nisar Shariq, Islamic Economics Bulletin, September 2004, Vol.14, No.5, pp.3.
  • Islamic Banking and Finance: New Perspectives on Profit Sharing and Risk, (Edits.) Munawar Iqbal and David, T. Llewellyn, Edward Elgar, Cheltenham, UK. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, January 2004, Vol.14, No.1, pp. 3-4
  • Prohibition of Interest: Does it make sense? By M. Umer Chapra, Published by: Islamic Dawah Movement, Durban, South Africa. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, January 2002, Vol. 13, No.2, pp.3.
  • Islamicity of Banking and Modes of Islamic Banking, By: Mohd Anwar, Selangor, Malaysia. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, May 2002, Vol.12, No.3, pp.3.
  • Social Sciences in Islamic Perspectives: A Bibliography of Contemporary Literature, Javed Ahmad Khan, Institute of Objective studies, New Delhi. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, March 2002, vol.12, No.2, pp.3
  • Participatory Finance through Investment Banks and Commercial Banks, By: A.L.M. Abdul Gafoor, Aptech Publication, the Netherlands. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, September 2001, Vol.11 No.5, pp.3.
  • Contemporary Islamic Economic Thought: A Selected Comparative Analysis, By: Mohammed Aslam Haneef, Ikraq, Selangor, Malaysia. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, Jan 2000, Vol. 10 No.6, pp. 3-4.
  • Islamic Finance: A Partnership for Growth, By: Philip Moore, Euromoney Publication PLC, UK. Reviewed by Nisar, Shariq, Islamic Economics Bulletin, Jan 2000, Vol. 10 No.1, pp. 3.

Book Chapters

  • Nisar, Shariq and Farooq, Umar. (2020) “Shari‘Ah Governance Practices in India”, The Edinburgh Companion to Shari’ah Governance in Islamic Finance, Edinburgh University Press, the UK, (ISBN 978-1474436007).
  • Nisar, Shariq and Farooq, Umar. (2019) “Financial Intermediation, Fintech and Shariah Compliance”, Fintech in Islamic Finance: Theory and Practice, Routledge, London, the UK, (ISBN 978-1-138-49479-4).
  • Nisar, Shariq and Rahman, Syed Mizanur. (2012) “Minority funds in India: institutional mobilization of micro savings”, In Shari‘a-compliant Microfinance, Routledge, London, the UK. ISBN 041578266X.
  • Nisar, Shariq and Khatkhatay, M.H. (2008) “Investments in Stocks: A Critical Review of Dow Jones Shariah Screening Norms”, Islamic Capital Market: Products, Regulations and Development, IRTI/Islamic Development Bank, Jeddah, KSA, (ISBN 978-9960-32-179-0).

Research Papers and Articles

  • Nisar, Shariq and Farooq, Umar. “Shari‘Ah Governance Practices in India” (Chapter), in The Edinburgh Companion to Shari’ah Governance in Islamic Finance, Edinburgh University Press, the UK, ISBN 978-1474436007 (Expected in October 2019).
  • Nisar, Shariq and Farooq, Umar. “Financial Intermediation, Fintech and Shariah Compliance” (Chapter), in the Book Fintech in Islamic Finance: Theory and Practice ISBN: 978-1-138-49479, Routledge, London, 2019.
  • Nisar, Shariq. Islamic Bonds (Sukuk) and Its Application, Wealth: International Journal of Money, Banking and Finance, Vol. 7, Issue 2, (July 2018).
  • Nisar, Shariq (et all). ICMIF Country Diagnostic on Mutual and Cooperative Microinsurance in India, jointly published by ICMIF and Insurance Institute of India, July 2017.
  • Nisar, Shariq and Ali, S Nazim. “The Significance of Faith-based Ethical Principles in Responding to the Recurring Financial Crises” Journal of Islamic Banking and Finance, October - December 2016, pp. 26-37.
  • Nisar, Shariq and Wasiullah, SM. “Performance of Sharia Compliant Equities: A Case Study of India” Global Islamic Finance Report, UK 2016.
  • Nisar, Shariq and Mohammad Shaqil. “The state of the Indian asset management landscape serving Shariah sensitive customers: Opportunity size and challenges” Thomson Reuters Global Islamic Asset Management: Outlook 2015, pp 44-49.
  • Nisar, Shariq. “Shrinking Space for Islamic Finance in India”, Economic and Political Weekly, Vol. - L No. 17, April 25, 2015, Mumbai, p. 23-25.
  • Nisar, Shariq and Khatkhatay, MH. “Conceptual Understanding of Service Charges on Loans and Its Application in Islamic Microfinance”, Sahulat: A Journal of Interest Free Microfinance, (ISSN 2319-2941) Vol. 1, No. 3, June 2014, New Delhi, p. 33-48.
  • Nisar, Shariq. “Shariah Finance: Gaining Foothold in India” Forum Views, Volume 1, Issue 8, November 2012, Mumbai p. 5-7.
  • Nisar, Shariq. “Tapping Takaful”, Cover Story Asia Insurance Post, Volume 12 Issue 8, March 2012, P. 36-37.
  • Nisar, Shariq. “Revisiting the value proposition: Can Islamic Finance be sustainable and fill the void created by conventional finance?”, Harvard LSE joint Workshop on Islamic Financial Intermediation: Revisiting the Value Proposition, London School of Economics, February 23, 2012
... Get all Research Papers and Articles

International Conferences

  • Islamic Finance Workshop on Micro and MSE Finance: November 27, 2019, Maldives Centre for Islamic Finance (MCIF) Maldives.
  • Seminar on Chinese Language and Culture for Financial Practitioners from India, September 16- 30, 2019, Beijing.
  • Certificate in Law and Regulation of Inclusive Finance, January 14-15, 2019 Luxembourg.
  • Global Conference on Awqaf, December 4-6, 2018, Doha, Qatar
  • Alignment of ESG and Impact Investing with Islamic Finance or SRI, October 26 - 27, 2018 Harvard University, Cambridge, Massachusetts, USA.
  • Creativity in Finance, Ecuador, October 23-24, 2018.
  • Challenging the Shariah Compliance of Islamic Financial Products, School of Oriental and African Studies (SOAS) University of London, February 21-22, 2018.
  • Certificate in Law and Regulation of Inclusive Finance, Luxembourg, January 18-19, 2018.
  • India Country Study, Colombo, October 24, 2017.
  • Shariah Governance in India: International Shariah Governance Roundtable, Doha, October 3-5, 2017.
  • The International Islamic Economics and Finance Summer School, Sabahattin Zaim University, Istanbul, Turkey, July 10-13, 2017.
  • Fintech and Islamic Finance: Applying Hiyal & Makharij and other Islamic Principles, London School of Economics and Political Science, London, February 23, 2017.
  • Certificate in Law and Regulation of Inclusive Finance, Luxembourg, January 19-20, 2017.
  • Financial Inclusion in the Digital Age, Luxembourg, October 19, 2016.
  • Infrastructure Development and Islamic Finance, Harvard University, Cambridge, USA, October 14-15, 2016.
  • Microfinance and Insurance (Takaful), Maldives Centre for Islamic Finance (MCIF), Male, October 8-9, 2016.
... View all International Conferences

National Conferences

  • Faculty of Management Studies and Research (FMSR), Aligarh Muslim University, October 12, 2019, Aligarh.
  • Mutual Insurance and Takaful Jamia Hamdard, New Delhi, April 12-14, 2019
  • Islamic Wealth Management and Finance in India, Hyderabad, March 23, 2019.
  • Madin Academy, Malappuram, Global Islamic Finance and the Indian Economy, Malappuram, December 28, 2018.
  • Shariah Compliant Investment Opportunities in Capital Market, University of Kashmir, November 19, 2018.
  • World Islamic Economic Forum (WIFE), Panel Discussion on: WIFE-UEF Chennai Roundtable, Chennai, November 10, 2018.
  • Maulana Azad National Urdu University (MANUU), Islamic Finance Education and Research, Hyderabad, October 18, 2018.
  • United Economic Forum (UEF), Islamic Finance in Indian Business Context, Chennai, July 28, 2018.
  • University of Calicut, Debt and Interest Crisis in Economic Development, Calicut, February 14, 2018.
  • Interest-Free and Equitable Finance in India: Road Ahead, PHD Chamber of Commerce and Industry, New Delhi, October 6, 2017
  • Selected as resource person for undergoing five-days intensive training under PM YUVA Yojna, Nagpur, September 11-15, 2017.
  • Jamia Millia Islamia, Islamic Microfinance under GIAN initiative, New Delhi, September 5-7, 2017.
  • Baba Ghulam Shah Badshah (BGSB) University, Islamic Banking and Finance, Rajouri, J&K, April 19, 2017.
  • Asean Institute of Insurance and Risk Management (AIIRM), The Practice of Takaful and its Spread and Penetration Across the World, Mumbai February 11, 2017.
  • Back to Basics: Need of the Hour for Insurance and Co-operatives, Insurance Institute of India, Bangalore May 23, 2016.
  • University of Calicut, Islamic Finance and Entrepreneurial Venture Possibilities in India, February 29 and March 1, 2016.
... View all National Conferences

Activities, Engagements and Awards

  • Member IRDAI Committee on Health Insurance Hub, 2019.
  • Received Editor's Choice Award 2018 for Excellence in Professional Services" by Editor Inquilab (India's largest newspaper in Urdu and a part of Mid-day Media).
  • Received Honorary Award from Islamic Finance Forum of South Asia (IFFSA), Colombo for contribution Indian finance industry through Islamic Finance, July 27, 2016.
  • Received Skoch Digital Inclusion Award 2011 under the category inclusion of minorities in India's financial system on “Digital Inclusion Day”, New Delhi, September 1, 2011.
  • Member Expert Committee on Banking and Finance, Indo Arab Chamber of Commerce and Industry (2010-2014).
... View all Activities, Engagements and Awards


Social Handles

Dr. Shariq's social media handles for connections! If you're an AMU Alum, an academic or a cricket fan, send in a connect request through any handles below!

Rizvi Institute of Management Studies and Research