In 2000, he graduated from IIUM with a bachelor's degree in accounting, and then furthered his studies at Loughborough University, where he obtain two postgraduate degrees with a Master of Science with Distinction (Islamic Economics, Banking and Finance), and Doctor of Philosophy (Islamic Banking and Finance).

[5] Prior to taking political office, he served IIUM as a lecturer and then, an assistant professor of its Kulliyyah of Economics and Management Sciences.

[6] On 26 May 2015, the Yang di-Pertuan Agong admitted him to the Parliament as a senator,[7] which paved the way for Najib to promote him as a Deputy Federal Minister in charge of Islamic affairs in July 2015.

Asyraf was elected as the Youth Chief of UMNO right after the party's defeat in the 14th Malaysian General Election where he defeated other notable party contenders such as former Senator and Vice Youth Chief Khairul Azwan Harun, and Paya Besar Member of Parliament Mohd Shahar Abdullah.

Asyraf is known notably in UMNO as a Zahid loyalist as he has been given several government-linked and senior party level appointments despite consistently losing elections.