Syed Aun R. Rizvi is an Associate Professor of Finance at the Suleman Dawood School of Business (SDSB), Lahore University of Management Sciences (LUMS), and currently serves as the Editor-in-Chief of the International Journal of Islamic and Middle Eastern Finance and Management. From August 2023 to December 2024, he has also held the position of Director of Research at Nottingham University Business School.
Dr. Rizvi previously served as an Associate Member of the Centre for Financial Econometrics at Deakin University (Australia) until 2023, and is currently an Executive Board Member of the Asia-Pacific Applied Economics Association (APAEA). He has held academic appointments at the University of Nottingham (UK and Malaysia), Universitat Jaume I (Spain), Universitas Airlangga (Indonesia), and University Kuala Lumpur (Malaysia).
He joined SDSB at LUMS in 2016, where he served as Associate Dean (Academics) from August 2019 to January 2023, and as Director of Undergraduate Programs from March 2017 to July 2019. Prior to joining LUMS, he served as Assistant Professor at the University of Nottingham Malaysia, contributing to the establishment of the Centre for Islamic Business and Finance Research (CIBFR). He holds a Ph.D. in Islamic Finance from INCEIF (Malaysia) and is an alumnus of NUST (Islamabad) and Sadiq Public School (Bahawalpur).
Dr. Rizvi began his professional career at HBL Asset Management Ltd. in 2007 as a Research Analyst and later as an Equity Trader. His engagement with industry continues through advisory roles with fintech startups in Pakistan, including Muavin, a digital micro-lending platform focused on financial inclusion, and Kalpay, a Shariah-compliant Buy Now Pay Later service.
His research interests lie at the intersection of financial markets, Islamic finance, and economic policy, with a particular emphasis on financial economics in emerging and Islamic economies. He has published in leading journals such as the Pacific-Basin Finance Journal, Emerging Markets Review, Economic Modelling, The World Economy, and Physica A. His work has been widely recognized and cited, with over 5,000 citations, an h-index of 31, and an i10-index exceeding 45, reflecting the depth and consistency of his scholarly impact across disciplines.
Dr. Rizvi is currently undertaking policy- and impact-oriented research projects in collaboration with several central banks, including those of Indonesia, Sri Lanka, Maldives, Fiji, and Vanuatu. He is a regularly invited speaker at policy-oriented workshops hosted by the Asian Development Bank (ADB) and the Asian Development Bank Institute (ADBI), contributing thought leadership on issues related to financial inclusion, climate finance, fintech, and the development of Islamic capital markets across Asia.
He is also Subject Editor for Emerging Markets Finance and Trade, Editorial Board Member for MethodsX, Global Economics Research, Journal of Islamic Monetary Economics and Finance, Journal of Islamic Economics and Business Studies, and Jurnal Ekonomi dan Bisnis Airlangga, and serves as Series Editor for CIBFR Palgrave Studies in Islamic Finance.
A passionate advocate for academic capacity building, Dr. Rizvi frequently leads research workshops and training programs across universities in Asia and Europe.
Narayan, P., Ismail, A., Saudulla, M. & Rizvi & Rizvi, S. (2025). Debt Sustainability and the Effectiveness of Fiscal Policy Tools - The Case of the Maldives. Economic Analysis and Policy, doi:10.1016/j.eap.2025.04.013.
Rizvi, S., Sharma, S. & Juhro, S. (2024). Demystifying COVID-19 policy actions: The case of inflation control in ASEAN. Pacific-Basin Finance Journal, 83, 102233, doi:https://doi.org/10.1016/j.pacfin.2023.102233.
Khattak, M., Ali, M., Azmi, W. & Rizvi & Rizvi, S. (2023). Digital Transformation, Diversification and Stability: what do we know about banks?. Economic Analysis and Policy, doi:https://doi.org/10.1016/j.eap.2023.03.004.
Azmi, W., Ali, M. & Rizvi, S. (2023). Uncovering risk transmission between Socially responsible investments, alternative energy investments and the implied volatility of major commodities. Energy Economics, 120, 106634, doi:https://doi.org/10.1016/j.eneco.2023.106634.
Ali, M., Azmi, W., Kowsalya, V. & Rizvi & Rizvi, S. (2023). Interlinkages between stability, carbon emissions and the ESG disclosures: Global evidence from banking industry. Pacific-Basin Finance Journal, 82, 102154, doi:10.1016/j.pacfin.2023.102154.
Rizvi, S. & Pathirge, K. (2023). COVID-19 Policy Actions and Inflation Targeting in South Asia. Journal of Asian Economics, 84, 101576, doi:10.1016/j.asieco.2022.101576.
Rizvi, S. & Ali, M. (2022). Do Islamic Cryptocurrencies provide diversification opportunities to Indonesian Islamic Investors. Journal of Islamic Monetary Economics and Finance, 8 (3), 441 - 454, doi:10.21098/jimf.v8i3.1563.
Khattak, M., Khan, N., Ali, M. & Rizvi & Rizvi, S. (2022). Market Concentration, Bank's Pricing Power and Deposit Rates: Evidence from Dual Banking System. Emerging Markets Finance and Trade, doi:10.1080/1540496X.2022.2027238.
Narayan, P., Rizvi, S. & Sakti, A. (2022). Did green debt instruments aid diversification during the COVID-19 pandemic?. Financial Innovation, 8 (1), 1-15, doi:10.1186/s40854-021-00331-4.
Khattak, M., Ali, M. & Rizvi, S. (2021). Predicting the European Stock Market during COVID-19: A Machine Learning approach. MethodsX, 8, 101198, doi:10.1016/j.mex.2020.101198.
Rizvi, S., Juhro, S. & Narayan, P. (2021). Understanding Market Reaction to COVID-19 Monetary and Fiscal Stimuluses in Major ASEAN Countries. Bulletin of Monetary Economics and Banking, 24 (3), 313-334, doi:10.21098/bemp.v24i3.1690.
Arshad, S., Rizvi, S., Haroon, O., Mehmood & Mehmood, F. & Gong, Q. (2021). Are Oil Prices Efficient?. Economic Modelling, 96, 362-370, doi:10.1016/j.econmod.2020.03.018.
Ali, M., Haroon, O., Rizvi, S. & Azmi & Azmi, W. (2021). Stability versus Fragility: New Evidence from 84 Banks. Studies in Economics and Finance, 38 (2), 441-453, doi:10.1108/SEF-04-2020-0109.
Haroon, O., Ali, M., Khan, A., Khattak & Khattak, M. & Rizvi, S. (2021). Financial market risks during the COVID-19 pandemic. Emerging Markets Finance and Trade, 57 (8), 2407-2414, doi:10.1080/1540496X.2021.1873765.
Baig, A., Butt, H., Haroon, O. & Rizvi & Rizvi, S. (2021). Deaths, Panic, Lockdowns and US Equity Markets: The Case of COVID-19 Pandemic. Finance Research Letters, 38, 101701, doi:10.1016/j.frl.2020.101701.
Khan, A., Rizvi, S., Ali, M. & Haroon & Haroon, O. (2021). A Survey of Islamic Finance Research – Influences and Influencers. Pacific-Basin Finance Journal, 69, 101437, doi:10.1016/j.pacfin.2020.101437.
Haroon, O. & Rizvi, S. (2020). COVID-19: Media coverage and financial markets behavior--A sectoralinquiry. Journal of Behavioral and Experimental Finance, 27, 100343, doi:10.1016/j.jbef.2020.100343.
Arshad, S., Rizvi, S. & Haroon, O. (2020). Impact of Brexit vote on the London stock exchange: A sectorial analysis of its volatility and efficiency. Finance Research Letters, 34, 101240, doi:10.1016/j.frl.2019.07.013.
Rizvi, S., Narayan, P., Sakti, A. & Syarafuddin & Syarafuddin, F. (2020). Role of Islamic banks in Indonesian banking industry: an empirical exploration. Pacific-Basin Finance Journal, 62, 101117, doi:https://doi.org/10.1016/j.pacfin.2019.02.002.
Ali, M., Alam, N. & Rizvi, S. (2020). Coronavirus (COVID-19) – An epidemic or pandemic for financial markets. Journal of Behavioral and Experimental Finance, 27, 100341, doi:10.1016/j.jbef.2020.100341.
Rizvi, S., Haroon, O. & Minai, S. (2020). Dana Gas: The Sukuk Dispute. Asian Journal of Management Cases, doi:https://doi.org/10.1177/0972820119884395.
Rizvi, S. & Sahminan, S. (2020). Commodity price and inflation dynamics: Evidence from BRIICS. Bulletin of Monetary Economics and Banking, 23 (4), 485-500, doi:10.21098/bemp.v23i4.1418.
Haroon, O. & Rizvi, S. (2020). Flattenthecurve and Stock Market Liquidity – An Inquiry into Emerging Economies. Emerging Markets Finance and Trade, 56 (10), 2151-2161, doi:10.1080/1540496X.2020.1784716.
Azmi, W., Ali, M., Arshad, S. & Rizvi & Rizvi, S. (2019). Intricacies of Competition, Stability, and Diversification: Evidence from Dual Banking Economies. Economic Modelling, 83, 111-126, doi:10.1016/j.econmod.2019.02.002.
Alam, N., Binti Zainuddin, S. & Rizvi, S. (2019). Ramifications of varying banking regulations on performance of Islamic Banks. Borsa Istanbul Review, 19 (1), 49-64, doi:10.1016/j.bir.2018.05.005.
Arshad, S., Rizvi, S. & Haroon, O. (2019). Understanding Asian Emerging Stock Markets. Bulletin of Monetary Economics and Banking, 12th BMEB, 495-510.
Ibrahim, M. & Rizvi, S. (2018). Bank lending, deposits and risk-taking in times of crisis: A panel analysis of Islamic and conventional banks. Emerging Markets Review, 35, 31-47, doi:10.1016/j.ememar.2017.12.003.
Rizvi, S., Arshad, S. & Alam, N. (2018). A tripartite inquiry into volatility-efficiency-integration nexus - case of emerging markets. Emerging Markets Review, 34, 143-161, doi:10.1016/j.ememar.2017.11.005.
Rizvi, S. & Arshad, S. (2018). Understanding time-varying systematic risks in Islamic and conventional sectoral indices. Economic Modelling, 70, 561 - 570, doi:10.1016/j.econmod.2017.10.011.
Rizvi, S. & Arshad, S. (2018). Stabilising economic growth through risk sharing macro instruments. The World Economy, 41 (3), 781-800, doi:10.1111/twec.12513.
Ibrahim, M. & Rizvi, S. (2017). Do we need bigger Islamic banks? An assessment of bank stability. Journal of Multinational Financial Management, 40, 77-91, doi:10.1016/j.mulfin.2017.05.002.
Rizvi, S. & Arshad, S. (2017). Analysis of the efficiency integration nexus of Japanese stock market. Physica A, Statistical Mechanics and its Applications, 470 (1), 296 – 308, doi:10.1016/j.physa.2016.11.142.
Arshad, S., Rizvi, S., Ghani, G. & Duasa & Duasa, J. (2016). Investigating Stock Market Efficiency: a look at OIC Member Countries. Research in International Business and Finance, 1 (36), 402-413.
Rizvi, S. & Arshad, S. (2016). How Does Crisis Affect Efficiency? An Empirical Study of East Asian Markets. Borsa Istanbul Review, 1 (16), 1-8.
Alam, N., Arshad, S. & Rizvi, S. (2016). Do Islamic stock indices perform better than conventional counterparts? An empirical investigation of sectoral efficiency. Review of Financial Economics, 31, 108-114, doi:10.1016/j.rfe.2016.06.003.
Rizvi, S., Arshad, S. & Wardhany, N. (2015). Outsourcing The Islamic Way: A Look Into The Challenges Faced By Financial Institutions. Journal of Islamic Economics, Banking and Finance, 1 (11), 193-205.
Arshad, S. & Rizvi, S. (2015). The Troika of Business Cycle, Efficiency and Volatility. An East Asian Perspective. Physica A, Statistical Mechanics and its Applications, A (419), 158-170.
Ibrahim, M. & Rizvi, S. (2015). Emissions and Trade in Southeast and East Asian Countries: A Panel Cointegration Analysis. International Journal of Climate Change Strategies and Management, 4 (7), 460-475.
Rizvi, S., Arshad, S. & Alam, N. (2015). Crises and Contagion in Asia Pacific - Islamic v/s Conventional Markets. Pacific-Basin Finance Journal, 34, 315-326.
Dewandaru, G., Rizvi, S., Masih, R., Alhabshi & Alhabshi, S. & Masih, M. (2014). The stock market co-movements: Islamic versus conventional equity indices with multi-timescales analysis. Economic Systems, 4 (38), 553-571.
Rizvi, S. & Arshad, S. (2014). Sanctuary in the Midst of Crisis? A Look into Shariah Indices using Multivariate GARCH DCC. Global Review of Islamic Economics and Business, 1 (22), 150-163.
Rizvi, S., Arshad, S., Arshad, S. & Lahsasna & Lahsasna, A. (2014). Derivatives in Islamic Finance: The Need and Mechanisms Available. International Journal of Financial Services Management, 3/4 (7), 177-195.
Rizvi, S., Arshad, S. & Ibrahim, M. (2014). Tripartite Analysis across Business Cycles in Turkey: A Multi-timescale Inquiry of Efficiency, Volatility and Integration. Borsa Istanbul Review, 4 (14), 177-195.
Rizvi, S., Dewandaru, G., Bacha, O. & Masih & Masih, M. (2014). An Analysis of Stock Market Efficiency: Developed vs Islamic Stock Markets Using MF-DFA. Physica A, Statistical Mechanics and its Applications, 407, 86-99.
Rizvi, S. & Arshad, S. (2014). An Empirical Study of Islamic Equity as a Better Alternative During Crisis Using Multivariate GARCH. Islamic Economics Studies, 1 (22), 159-184.
Dewandaru, G., Rizvi, S., Bacha, O. & Masih & Masih, M. (2014). What factors explain stock market retardation in Islamic Countries?. Emerging Markets Review, 2 (19), 106-127.
Rizvi, S. & Arshad, S. (2014). Investigating Efficiency of East Asian Stock Markets through Booms and Busts. Pacific Science Review, 4 (16), 275-279.
Rizvi, S. & Arshad, S. (2013). Impact of Corruption on Bank Profitability: An Analysis of Islamic Banks. International Journal of Business Governance and Ethics, 3 (8), 195-209.
Rizvi, S. & Arshad, S. (2013). The Impact of Global Financial Shocks to Islamic Indices: Speculative Influence or Fundamental Changes?. Journal of Islamic Finance, 1 (2), 1-11.
Rizvi, S. (2018). SAROH Investment Advisory, Published. Case Research Center, LUMS, LUMS No. 02-648-2018-1, Case Research Center, LUMS.
Rizvi, S. & Arshad, S. (2018). Financing the Muslim World: A Proposed Concept for the Long-Term Indebtedness of Muslim World, Published. CRC, LUMS # 02-615-2018-2, Case Research Center, LUMS.
Rizvi, S., Haroon, O. & Minai, S. (2018). Dana Gas: The Sukuk Dispute, Published. Asian Journal of Management Cases, Sage Publications.
Rizvi, S. & Alam, N. (2017). Islamic Economics Contribution to Conventional Economics, Published. Islamic Economics-Stability, Markets and Endowments, (pp. 1-10), Palgrave Macmillan.
Rizvi, S. & Alam, N. (2016). Empirical Research in Islamic Banking: Past Present and Future Page, Published. Islamic Banking -Growth Stability and Inclusion, (pp. 1-13), Palgrave Macmillan.
Rizvi, S. & Arshad, S. (2015). Are Islamic Equity Indices A Safer Haven in Times of Crisis, Published. Islamic Capital Markets: Competitiveness And Resilience, Islamic Development Bank.
Rizvi, S. (2016). Islamic Capital Market Research: Past Trends and Future Considerations, Published. Islamic Capital Markets - Volatility, Performance and Stability, Palgrave Macmillan.
Raza Rizvi, S. (2015). Indexing government debt to GDP: A risk sharing mechanism for government financing in Muslim countries, Published. Islamic banking and finance – Essays on corporate finance, efficiency and product development., ..
Rizvi, S. & Alam, N. (2017). Islamic Economies – Stability, Markets and Endowments, Palgrave Macmillan.
Rizvi, S. & Saba, I. (2017). Developments in Islamic Finance Challenges and Initiatives, Palgrave Macmillan.
Rizvi, S. & Alam, N. (2016). Islamic Capital Markets - Volatility, Performance and Stability, Palgrave Macmillan.
Rizvi, S., Bacha, O. & Mirakhor, A. (2016). Public Finance and Islamic Capital Markets - Theory and Application, Palgrave Macmillan.
Rizvi, S. & Alam, N. (2016). Islamic Banking - Growth, Stability and Inclusion, Palgrave Macmillan.
Rizvi, S. (2020). Understanding Oil Markets' Efficiency. Southwestern Finance Association, San Antonio, Texas.
Rizvi, S. (2019). Presence of Islamic Banks in East Asia - Stability vs Fragility. Islamic Finance, Banking & Business Ethics Global Conference (IFBBE), Valencia, Spain.
Rizvi, S. (2019). Are Oil Prices Efficient?. 7th Applied Financial Modelling Conference, Melbourne, Australia- VIC.
Rizvi, S. & Arshad, S. (2018). A Time-Varying Analysis on the Weak-Form Efficiency of Crude Oil Prices. 4th Applied Financial Modelling Conference, Melbourne, Australia.
Raza Rizvi, S., Ali, M. & Azmi, W. (2017). Impact of competition and diversification on risk and return: Evidence from the dual banking economies. 8th RMUTP International Conference, Bangkok, Thailand.
Raza Rizvi, S. & Arshad, S. (2017). An Inquiry on Systematic Risks of Islamic and Conventional Sectors. Economic Modelling Conference, Melbourne, Australia- VIC.
Raza Rizvi, S. & Arshad, S. (2017). An Inquiry on Systematic Risks of Islamic and Conventional Sectors. Islamic Finance, Banking & Business Ethics Global Conference (IFBBE), Kuala Lumpur, Malaysia.
Raza Rizvi, S. & Arshad, S. (2017). Risks in Stock Markets: A Comparative Analysis of Systematic Risk in Islamic and Conventional Sectoral indices. 2nd Applied Financial Modelling Conference, Melbourne, Australia- VIC.
Raza Rizvi, S. & Arshad, S. (2016). Stabilizing Economic Growth Through Risk Sharing Macro Instruments. World IslamicFinance Forum, Karachi, Pakistan.
Raza Rizvi, S., Bacha, O. & Ibrahim, M. (2016). Stabilizing Economic Growth Through Risk Sharing Macro Instruments for Emerging Economies. Islamic Finance, Banking & Business Ethics Global Conference (IFBBE), Lahore, Pakistan.
Raza Rizvi, S., Alam, N. & Arshad, S. (2015). The Gaining Momentum of Emerging Stock Markets – A Tripartite Inquiry into Volatility-Efficiency-Integration Nexus. Hangzhou Conference, Hangzhou, China., Hangzhou, China.
Raza Rizvi, S. & Arshad, S. (2014). Are Islamic Equities as a Safer Haven? Evidence from Indo Pak Equity Markets. International Social Sciences and Business Research Conference, Kathmandu, Nepal.
Raza Rizvi, S., Dewandaru, G., Sarkar, K., Bacha & Bacha, O. & Masih, M. (2014). How Macroeconomic Changes Impact Islamic and Conventional Equity Prices? Evidence from Developed and Emerging Countries. 4th Islamic Banking and Finance Conference, Lancaster University, United Kingdom.
Raza Rizvi, S., Dewandaru, G., Alhabshi, S. & Masih & Masih, M. (2013). The stock market co-movements: Islamic versus conventional equity indices with multi-timescales analysis. 15th Malaysian Finance Association Conference, Kuala Lumpur, Malaysia.
Raza Rizvi, S., Dewandaru, G., Bacha, O. & Masih & Masih, M. (2013). Stock Market Efficiency in Islamic Countries. 15th Malaysian Finance Association Conference, Kuala Lumpur, Malaysia.
Raza Rizvi, S., Dewandaru, G., Bacha, O. & Masih & Masih, M. (2013). Efficienrcy of Islamic and Conventional Indices - Developed v/s Emerging Countries. 15th Malaysian Finance Association Conference, Kuala Lumpur, Malaysia.
Raza Rizvi, S., Dewandaru, G., Bacha, O. & Masih & Masih, M. (2013). What factors explain stock market retardation in Islamic Countries?". 15th Malaysian Finance Association Conference, Kuala Lumpur, Malaysia.
Raza Rizvi, S., Dewandaru, G., Sarkar, K., Bacha & Bacha, O. & Masih, M. (2013). How Macroeconomic Changes Impact Islamic and Conventional Equity Prices? Evidence from Developed and Emerging Countries. 15th Malaysian Finance Association Conference, Kuala Lumpur, Malaysia.
Raza Rizvi, S. & Arshad, S. (2013). Inferences between Business Cycles and Stock Markets: A Comparative Analysis of Islamic Stock Indices. 15th Malaysian Finance Association Conference, Kuala Lumpur, Malaysia.
Raza Rizvi, S., Dewandaru, G., Bacha, O. & Masih & Masih, M. (2013). Efficienrcy of Islamic and Conventional Indices - Developed v/s Emerging Countries. 10th Asian Academy of Management International Conference, Penang, Malaysia.
Raza Rizvi, S., Dewandaru, G., Bacha, O. & Masih & Masih, M. (2013). What factors explain stock market retardation in Islamic Countries?. 10th Asian Academy of Management International Conference 2013, Penang, Malaysia.
Raza Rizvi, S. & Arshad, S. (2013). Sanctuary in the Midst of Crisis? A Look into Shariah Indices using Multivariate GARCH DCC. at International Conference on Business, Accounting, Finance, and Economics, Kampar, Malaysia.
Raza Rizvi, S. & Arshad, S. (2013). Asia Pacific Business Cycle: Ties with Islamic Stock Indices. 2nd Applied International Business Conference, Kota Kinabalu, Malaysia.
Raza Rizvi, S. & Arshad, S. (2013). Indexing Government Debt to GDP: A Risk Sharing Mechanism for Government Financing in Muslim Countries. 9th International Conference on Islamic Economics and Finance, Istanbul, Turkey.
Raza Rizvi, S. & Lahsasna, A. (2012). Derivatives in Islamic Finance: The Need and Mechanisms Available for Islamic Financial Markets. 2nd ISRA Colloquium "Islamic Finance in a Challenging Economy: Moving Forward, Kuala Lumpur, Malaysia.
Raza Rizvi, S. & Arshad, S. (2012). Are Islamic Equity Indices A Safer Haven In Times Of Crisis? An Empirical Proof via Investigation of Global Indices Using Multivariate GARCH DCC. Toward Resilient, Robust, and Competitive Islamic Capital Markets, Jakarta, Indonesia.
Rizvi, S. (2019). Are Oil Prices Efficient?. 7th Applied Financial Modelling Conference.
Raza Rizvi, S. & Arshad, S. (2017). Risks in Stock Markets: A Comparative Analysis of Systematic Risk in Islamic and Conventional Sectoral indices. 2nd Applied Financial Modelling Conference.
Raza Rizvi, S., Ali, M. & Azmi, W. (2017). Impact of competition and diversification on risk and return: Evidence from the dual banking economies. 8th RMUTP International Conference.
Raza Rizvi, S. & Arshad, S. (2017). An Inquiry on Systematic Risks of Islamic and Conventional Sectors. Economic Modelling Conference.
Raza Rizvi, S. & Arshad, S. (2017). An Inquiry on Systematic Risks of Islamic and Conventional Sectors. Islamic Finance, Banking & Business Ethics Global Conference (IFBBE).
Raza Rizvi, S. & Arshad, S. (2016). Stabilizing Economic Growth Through Risk Sharing Macro Instruments. World IslamicFinance Forum.
Raza Rizvi, S., Bacha, O. & Ibrahim, M. (2016). Stabilizing Economic Growth Through Risk Sharing Macro Instruments for Emerging Economies. Islamic Finance, Banking & Business Ethics Global Conference (IFBBE).