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Dr Ali Malik has over two decades of remarkable academic and industry experience in the international environment. He is a senior academic, researcher and Fellow of Higher Education Academy of UK (FHEA). He holds PhD in Finance and Accounting and hails from South Punjab in Pakistan. His areas of teaching and research interests are management accounting, financial markets and institutions, Islamic Banking and Finance, and contemporary issues in accounting and finance.
Presently, Dr Malik is associated with QFBA-Northumbria University in Doha. Prior to his current assignment, Dr Malik was associated with the University of Hertfordshire, UK for 11 years as a Principal Lecturer. He had previously been associated with many leading UK higher education institutions in a variety of roles. Dr Malik regularly publishes articles in international research journals and sits on the editorial and advisory boards of several international research journals including the prestigious International Journal of Business Performance Management (IJBPM). Dr Malik is on PhD and DBA ‘supervisors and examiners panel’ of several European, African and Asian universities. He regularly comments on international socio-economic issues with keen focus on Pakistan. He is also a celebrated Urdu poet and has so far published three books. In an interview with Qatar Tribune, Dr Malik spoke in detail on a wide variety of subjects. Excerpts:
How would you describe your experience of working and living in Qatar?
I moved from the UK to Qatar in September 2018. It is my fourth year with Qatar Finance and Business Academy (QFBA) and Northumbria University. Earlier, I worked for Northumbria’s London campus so it was an easy adaptation. I have enjoyed my time here so very much and found it rewarding and productive. Qatar has an excellent work environment that attracts talent from all over the world.
How do you see the future of higher education in Qatar?
Higher education in Qatar is fast evolving and we have seen several renowned universities from the UK, the USA, Canada, France, India and other countries making Qatar their new home. I feel Qatar has the potential to become a hub of higher education in South Asia, Gulf and MENA. This would require a high level of commitment and facilitation from the authorities.
How do you delineate management accounting?
As the name suggests, it is a branch of accounting that serves information need of managers. The role of management accounting in an organisation is often highlighted as ears and eyes of the management. In the current age of disruptive technologies and big data analytics, the role of management accountants has evolved into that of business partner and value creator.
What is the impact of the COVID-19 pandemic on the performance of financial markets?
Almost all financial and non-financial markets are hard hit. We have seen massive value erosion across the globe. Some analysts and observers are of the view that the impact of pandemic is broader than that of 2007-8 global financial crisis. The initial estimate of pre-pandemic level recovery by 2023 looks illusion and it seems the world will continue to feel the pinch beyond this. However, some markets and sectors have shown promising signs of early recovery.
How do you view Islamic banking viz-a-viz conventional banking?
I introduced Islamic Banking and Finance as a final year optional module at the University of Hertfordshire. It became a popular module and most of the students enrolled on the module were non-Muslims. Islamic Banking is a Sharia-compliant banking that does not use interest as a return but advocates profit-loss sharing (PLS) model. In many countries, dual banking is common these days. However, critics say that modern Islamic Banking is merely repackaging of conventional banking products. On the other hand, others see this as having the potential to become an alternative to conventional banking.
What are the contemporary issues of accounting and finance?
Accounting and finance functions face a highly dynamic and challenging regime. The disruptive technologies are having a profound impact on how these functions are performed e.g. automation and artificial technologies, etc. The emerging regulatory changes and adoption of new standards require constant head up. The tax laws, data protection regulations and anti-money laundering regimes are critical to accountants and finance professionals. If done strategically, accounting and finance functions can become a source of competitive advantage for an organisation.
How would you like to see finance and economics embedded in curriculum?
This is very critical to me. I would like to see basics of finance, money, economics and business embedded in middle and high school curriculum. We live in a financialised world and it is our responsibility to educate our current and future generations about the challenges of it. This education will be relevant and useful to children regardless of what career paths they pursue later, whereas sciences become irrelevant to many at a later stage.
What do you mean by ‘financialised world’?
The financialisation of our world began in early 1980s. This refers to growing importance and role of financial institutions, financial markets, financial elites and their financial motives in running and controlling the national and international economies and institutions. For example, the manufacturing sector is now less than 9 percent of world economy and finance is over 30 percent of it.
The financialization of households and individuals is done through ‘credit’. In UK, for instance, over 70 percent population has mortgage, student loan, car finance, overdraft, credit cards, etc. The credit is used to control them. I have recently observed that the Pakistani society is gradually being financialised as you see credit walking everywhere there.
What is the importance of art and literature in our lives?
It should be ‘huge’, although, we sadly observe this phasing out.
It is observed that students of present age shy away from learning literature. What measures do you suggest to bring them closer to literature?
I feel sad for our young generation as they are caught up in a massive transition. We fear social isolation and further societal divide in future. This makes art and literature even more important. The initial responsibility lies with parents and guardians and then with schools. We need art and literature societies with modern acumen and flare to attract youngsters. We shouldn’t expect children to change but we should change things to attract them.
What inspired you to learn literature and poetry?
I was lucky to get into poetry and reading from a very young age. My late uncle, Ch. Mohammed Munir, was my mentor and he had a great impact on me. I was writing poetry by the time I left high school. I find that this had a significant impact on my personality.
Please give details about your books.
I recently launched my third book ‘Ishq Navard’ in PDF format. My second book was ‘Jazib e Jaa’n’ and the first book was ‘Khahishein Tawan Manti Hein’. I have been told that my poetry in terms of thoughts, behr and balance has improved a lot in recent times.
It is seen that younger generation prefers to learn foreign languages and ignores their mother language. How important is it to learn one’s mother language?
The importance of mother language can never be emphasised enough. There exists research evidence that children who grew up learning mother language outperform those who grew up learning a different language. In my views, it is like giving up your identity. It needs patronage and strong commitment from parents, policy makers and governments to protect and promote native languages.
Pakistan’s national language is Urdu but English is widely used for official and legal purposes. What are the hurdles in the way of implementing Urdu in letter and spirit?
The only hurdle I see is the lack of ‘willingness and commitment’. However, we must also realise that language is fundamental to communication particularly in international and bilateral contexts. Where current prime minister of Pakistan, for example, is promoting local attire internationally, he should take a step further and start addressing international forums in Urdu language (with translation, of course).
What is your advice to the youngsters?
They should learn modern technology and soft skills and do not waste time pursuing degrees that are fast becoming irrelevant. I would advise them to be entrepreneurs, finance literate, money wise and value adding members of 7.5 billion world community.
Presently, Dr Malik is associated with QFBA-Northumbria University in Doha. Prior to his current assignment, Dr Malik was associated with the University of Hertfordshire, UK for 11 years as a Principal Lecturer. He had previously been associated with many leading UK higher education institutions in a variety of roles. Dr Malik regularly publishes articles in international research journals and sits on the editorial and advisory boards of several international research journals including the prestigious International Journal of Business Performance Management (IJBPM). Dr Malik is on PhD and DBA ‘supervisors and examiners panel’ of several European, African and Asian universities. He regularly comments on international socio-economic issues with keen focus on Pakistan. He is also a celebrated Urdu poet and has so far published three books. In an interview with Qatar Tribune, Dr Malik spoke in detail on a wide variety of subjects. Excerpts:
How would you describe your experience of working and living in Qatar?
I moved from the UK to Qatar in September 2018. It is my fourth year with Qatar Finance and Business Academy (QFBA) and Northumbria University. Earlier, I worked for Northumbria’s London campus so it was an easy adaptation. I have enjoyed my time here so very much and found it rewarding and productive. Qatar has an excellent work environment that attracts talent from all over the world.
How do you see the future of higher education in Qatar?
Higher education in Qatar is fast evolving and we have seen several renowned universities from the UK, the USA, Canada, France, India and other countries making Qatar their new home. I feel Qatar has the potential to become a hub of higher education in South Asia, Gulf and MENA. This would require a high level of commitment and facilitation from the authorities.
How do you delineate management accounting?
As the name suggests, it is a branch of accounting that serves information need of managers. The role of management accounting in an organisation is often highlighted as ears and eyes of the management. In the current age of disruptive technologies and big data analytics, the role of management accountants has evolved into that of business partner and value creator.
What is the impact of the COVID-19 pandemic on the performance of financial markets?
Almost all financial and non-financial markets are hard hit. We have seen massive value erosion across the globe. Some analysts and observers are of the view that the impact of pandemic is broader than that of 2007-8 global financial crisis. The initial estimate of pre-pandemic level recovery by 2023 looks illusion and it seems the world will continue to feel the pinch beyond this. However, some markets and sectors have shown promising signs of early recovery.
How do you view Islamic banking viz-a-viz conventional banking?
I introduced Islamic Banking and Finance as a final year optional module at the University of Hertfordshire. It became a popular module and most of the students enrolled on the module were non-Muslims. Islamic Banking is a Sharia-compliant banking that does not use interest as a return but advocates profit-loss sharing (PLS) model. In many countries, dual banking is common these days. However, critics say that modern Islamic Banking is merely repackaging of conventional banking products. On the other hand, others see this as having the potential to become an alternative to conventional banking.
What are the contemporary issues of accounting and finance?
Accounting and finance functions face a highly dynamic and challenging regime. The disruptive technologies are having a profound impact on how these functions are performed e.g. automation and artificial technologies, etc. The emerging regulatory changes and adoption of new standards require constant head up. The tax laws, data protection regulations and anti-money laundering regimes are critical to accountants and finance professionals. If done strategically, accounting and finance functions can become a source of competitive advantage for an organisation.
How would you like to see finance and economics embedded in curriculum?
This is very critical to me. I would like to see basics of finance, money, economics and business embedded in middle and high school curriculum. We live in a financialised world and it is our responsibility to educate our current and future generations about the challenges of it. This education will be relevant and useful to children regardless of what career paths they pursue later, whereas sciences become irrelevant to many at a later stage.
What do you mean by ‘financialised world’?
The financialisation of our world began in early 1980s. This refers to growing importance and role of financial institutions, financial markets, financial elites and their financial motives in running and controlling the national and international economies and institutions. For example, the manufacturing sector is now less than 9 percent of world economy and finance is over 30 percent of it.
The financialization of households and individuals is done through ‘credit’. In UK, for instance, over 70 percent population has mortgage, student loan, car finance, overdraft, credit cards, etc. The credit is used to control them. I have recently observed that the Pakistani society is gradually being financialised as you see credit walking everywhere there.
What is the importance of art and literature in our lives?
It should be ‘huge’, although, we sadly observe this phasing out.
It is observed that students of present age shy away from learning literature. What measures do you suggest to bring them closer to literature?
I feel sad for our young generation as they are caught up in a massive transition. We fear social isolation and further societal divide in future. This makes art and literature even more important. The initial responsibility lies with parents and guardians and then with schools. We need art and literature societies with modern acumen and flare to attract youngsters. We shouldn’t expect children to change but we should change things to attract them.
What inspired you to learn literature and poetry?
I was lucky to get into poetry and reading from a very young age. My late uncle, Ch. Mohammed Munir, was my mentor and he had a great impact on me. I was writing poetry by the time I left high school. I find that this had a significant impact on my personality.
Please give details about your books.
I recently launched my third book ‘Ishq Navard’ in PDF format. My second book was ‘Jazib e Jaa’n’ and the first book was ‘Khahishein Tawan Manti Hein’. I have been told that my poetry in terms of thoughts, behr and balance has improved a lot in recent times.
It is seen that younger generation prefers to learn foreign languages and ignores their mother language. How important is it to learn one’s mother language?
The importance of mother language can never be emphasised enough. There exists research evidence that children who grew up learning mother language outperform those who grew up learning a different language. In my views, it is like giving up your identity. It needs patronage and strong commitment from parents, policy makers and governments to protect and promote native languages.
Pakistan’s national language is Urdu but English is widely used for official and legal purposes. What are the hurdles in the way of implementing Urdu in letter and spirit?
The only hurdle I see is the lack of ‘willingness and commitment’. However, we must also realise that language is fundamental to communication particularly in international and bilateral contexts. Where current prime minister of Pakistan, for example, is promoting local attire internationally, he should take a step further and start addressing international forums in Urdu language (with translation, of course).
What is your advice to the youngsters?
They should learn modern technology and soft skills and do not waste time pursuing degrees that are fast becoming irrelevant. I would advise them to be entrepreneurs, finance literate, money wise and value adding members of 7.5 billion world community.
