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Impact Of The 2008 Financial Crisis On The Efficiency Of Islamic And Conventional Banks
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Book Synopsis The Effects of the Global Crisis on Islamic and Conventional Banks by : Jemma Dridi
Download or read book The Effects of the Global Crisis on Islamic and Conventional Banks written by Jemma Dridi and published by . This book was released on 2005-10-31 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the performance of Islamic banks (IBs) and conventional banks (CBs) during the recent global crisis by looking at the impact of the crisis on profitability, credit and asset growth, and external ratings in a group of countries where the two types of banks have significant market share. Our analysis suggests that IBs have been affected differently than CBs. Factors related to IBs‘ business model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs‘ credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. External rating agencies‘ re-assessment of IBs‘ risk was generally more favorable.
Book Synopsis Impact of the 2008 Financial Crisis on the Efficiency of Islamic and Conventional Banks by : Sanemkhan Nurillaeva
Download or read book Impact of the 2008 Financial Crisis on the Efficiency of Islamic and Conventional Banks written by Sanemkhan Nurillaeva and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Islamic Banking and Financial Crisis by : Habib Ahmed
Download or read book Islamic Banking and Financial Crisis written by Habib Ahmed and published by Edinburgh University Press. This book was released on 2013-12-16 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the resilience of Islamic banking during the global financial crisis and lessons for risk management. Do Islamic financial institutions perform better than their conventional counterparts during periods of financial stress? To what extent do systems for managing risk have to be adapted for Islamic financial institutions, given the unique characteristics of their assets and liabilities and the need for shari'ah compliance? These issues have come to prominence since the global financial crisis of 2007-8 and the subsequent recession, and are addressed in this book. The challenges for Islamic financial institutions are explored in an international post Basel II system where banks are required to have more capital and liquidity. Governance issues are also examined, given their influence on client and investor perceptions and their ultimate implications for institutional stability and sustainability.Offers an in-depth assessment of how Islamic banks weathered the financial crisis and what lessons can be learnt. Asks whether Islamic banks are inherently more stable than conventional banks during periods of economic stress. Examines how Islamic banks manage risk, focusing on liquidity risk and the use of forward contracts to mitigate currency risk. Appraises the work of internal shari'ah audit units and the use of shari'ah reports to reduce non-compliance risks. Features case studies from the Gulf, Malaysia, the UK, Pakistan, Turkey and GCC countries.
Book Synopsis The global financial crisis and the Islamic finance by : Hussein Elasrag
Download or read book The global financial crisis and the Islamic finance written by Hussein Elasrag and published by Hussein Elasrag. This book was released on 2015-02-26 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: While some have proposed that the Islamic finance serves as a vehicle for recovering from the international financial crisis and The Islamic banking industry may be able to strengthen its position in the international market as investors and companies seek alternate sources of financing. Other economists have argued that Islamic finance, is a different way of structuring financial dealings; but, it is not a totally different financial system. This book tries to note the main causes and the impacts of the current financial and economic crisis. In addition to discuss the belief that the Islamic finance and its prospective is a viable alternative to the ailing global financial system.
Book Synopsis A Comparative Study on the Impacts of the 2007-2008 Financial Crisis Into Islamic and Conventional Banks Financial Performance in the Gulf Cooperation Council Countries by : Sutan Emir Hidayat
Download or read book A Comparative Study on the Impacts of the 2007-2008 Financial Crisis Into Islamic and Conventional Banks Financial Performance in the Gulf Cooperation Council Countries written by Sutan Emir Hidayat and published by . This book was released on 2013 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007-2008 global financial crisis has given a significant impact on the banking industry worldwide. On the other hand, Islamic banks are claimed that they are either not affected or less affected by the crisis (Smolo and Mirakhor, 2010; Ahmad, 2010). However, such claims need to be proven empirically. Therefore, this study aims to compare financial performance of Islamic and conventional banks in the Gulf Cooperation Council (GCC) member countries via financial statements using 21 Islamic banks and 35 conventional banks as samples which are available on Bankscope database as an attempt to compare the impacts of the global financial crisis on the financial performance of both types of banks. The study uses financial ratios to comparatively analyze financial performance of Islamic and conventional banks in terms of profitability and efficiency, asset quality, capital adequacy and liquidity for each country in the region during 2005-2010. The study also uses standard deviation, the Mann Whitney and/or t-test to compare the stability of financial performance between Islamic and conventional banks in the GCC during the 2005-2010. This study also uses panel data regression analysis in order to examine the factors that significantly influence financial performance of Islamic and conventional banks in the GCC during the period and to evaluate the influence of the financial crisis into financial performance of both banks. The results of the ratio analysis show both Islamic and conventional banks' financial performance is affected by the financial crisis. However, the ratios are unable to conclude which type of banks performed better during the period since the results in each country indicate different inferences. The only common results across the GCC member countries is conventional banks in the GCC have better asset quality than their Islamic counterparts. The result of standard deviation reveals that during 2005-2010, financial performance of Islamic banks in the GCC is less stable than their conventional counterparts in terms of profitability and efficiency, asset quality, capital adequacy and liquidity. In addition, the Mann Whitney and t-test indicate that there are significant differences in the stability of all aspects of financial performance between Islamic and conventional banks in the GCC. The results of panel data regression analysis reveal that the financial crisis significantly affects both Islamic and conventional banks in the GCC. The impacts of the crisis are even worse in the two years after the crisis. The regression results also identify that equity, short term funding, GDP per capita significantly influence financial performance of Islamic and conventional banks in the GCC. It is also found that overhead expenses only significantly influence financial performance of Islamic banks while total assets and total financings only significantly influence financial performance of conventional banks. The study adds value to the existing literature by providing comparative empirical evidences on the impacts of the recent financial crisis into Islamic and conventional banks' financial performance in the GCC. The study is also expected to benefit regulators, bankers and other stakeholders of Islamic and conventional banks in the GCC in understanding the factors that influence GCC banking financial performance and minimizing the impacts of any future financial crises.loss.
Book Synopsis The Stability of Islamic Finance by : Hossein Askari
Download or read book The Stability of Islamic Finance written by Hossein Askari and published by John Wiley & Sons. This book was released on 2011-11-09 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Stability of Islamic Finance main focus is on the question of the sources of financial instability which seems inherent in the conventional system. As a core component of this focus, the book will consider episodes of turbulence and instability in a historical context recalling the occurrence of such events from mid-19th century to the present. It will present various theoretical explanations along with solutions and alternative financial systems that avoid instability provided by various scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of an Islamic financial system and show that at its core, this system shares many characteristics of an stable financial system proposed by Western scholars throughout history to avoid the inherent instability of the present dominant system. Particular emphasis will be placed on the present financial crisis and its causes as well the financial crisis of the 1997 in Southeast Asia, Russia, and Latin America relating these episodes to the fundamental features of the dominant system. The debt crisis of the low income countries will also be part of this discussion. It will then argue that these crises could be mitigated under an Islamic system or any other system with similar architecture.
Book Synopsis Islamic Banking and the Global Financial Crisis by : Faisal Alqahtani
Download or read book Islamic Banking and the Global Financial Crisis written by Faisal Alqahtani and published by . This book was released on 2016 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007/08 Global Financial Crisis (GFC), which was triggered in the American mortgage market in 2007, had unforeseen consequences that are considered to be the worst since the Great Depression of the 1930s. The GFC did not remain within the American banking sector but swiftly spread to other segments and other parts of the world because of globalisation. For example, it caused another severe crisis on the other side of the Atlantic, with European governments announcing that they would provide Greece with urgent financial aid to stop it from going bankrupt, and the country is still struggling not to default on its massive debts. Despite the damage that the GFC caused and left on the global banking sector, Islamic banking continued to grow, with an average annual growth rate in the Gulf Cooperation Council (GCC) region of 25% between 2000 and 2012. This rapid growth has led many advocates of Islamic finance to have the confidence to propose that Islamic banking is a viable alternative to conventional banking. This thesis investigates empirically these arguments, taking into consideration the direct and the indirect exposure of the GFC using a variety of formal financial and econometric tests. The thesis evaluates the operating performance, efficiency and financial stability of Islamic and conventional banks by means of financial ratios, Data Envelope Analysis (DEA), Distance to Default and Z-score, respectively, prior to, during and post the GFC. It investigates three time periods (prior, during and post the GFC) using samples ranging from 76 to 101 banks for each time period, across six Gulf Cooperation Council (GCC) economies, with data from 1998 to 2013. After controlling for ownership differences, internal factors, macroeconomic factors and unobserved omitted variables (varying across countries and years), the analysis shows that Islamic banks outperformed conventional banks during the GFC in terms of capitalisation, profitability, liquidity and cost efficiency. In addition, Islamic banks narrowed that inherent gap with conventional banks in terms of management quality, profit efficiency and financial stability, as measured by Z-scores. To the best of my knowledge, this finding can be considered some of the earliest empirical evidence supporting the theoretical argument that Islamic banks were less exposed to the GFC because of restrictions on dealing in non-complying assets, believed to be a main reason for the crisis, but not due to their use of profit-and-loss sharing (PLS) instruments. However, in the later stages of financial turmoil, when the initial financial shocks of the GFC spilled over from the financial sector into segments of the real economy, Islamic banks suffered even more than conventional banks due to their lax risk-mitigation tools, size disadvantage, rate-of-return risk and, more importantly , their reliance on debt-based instruments, which make Islamic banks less resilient to shocks. This resulted in Islamic banks losing their advantage in capitalisation, performing worse than conventional banks in terms of profitability, efficiency and financial stability. This finding suggests that Islamic banks are more sensitive to conditions of real economic sectors, whereas conventional banks are more vulnerable to global financial shocks. This thesis was limited by the absence of data regarding the Islamic services windows of conventional banks, the unavailability of data on the underlying assets of Islamic banks, and finally the use of accounting-based data, with the exception of using market-based Distance to Default (DD). These limitations made the modelling and the subsequent inferences a very challenging assignment, one which required the dedication of a significant amount of time and effort. Despite the limitations of the research, a number of recommendations can come out of the findings. Bankers at Islamic banks should focus more closely on economic conditions because the Islamic banking system is more affected by these than by global financial conditions. Furthermore, Islamic bankers should invest more in developing risk-management techniques, taking into consideration the unique needs of Islamic banks, to make their performance more stable and less risky. Finally, Islamic banks should consider growing in size to gain from the benefit of scale, as the data show that size is linked to superior performance.
Author :Mohamad Akbar Noor Mohamad Noor Publisher :LAP Lambert Academic Publishing ISBN 13 :9783847343851 Total Pages :264 pages Book Rating :4.3/5 (438 download)
Book Synopsis Economic Efficiency and Profitability of Islamic Bank by : Mohamad Akbar Noor Mohamad Noor
Download or read book Economic Efficiency and Profitability of Islamic Bank written by Mohamad Akbar Noor Mohamad Noor and published by LAP Lambert Academic Publishing. This book was released on 2012 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study is among the first few studies on Islamic banking that will provide comprehensive cross countries between Islamic banks in the world using more than one analytical approach. Hence, the study also provides contribution in term of rigorousness of the methodology used as compared to previous studies on Islamic banks. This study will contribute findings for 3 different methods used from efficiency, determinants of the efficiency, the profitability and the relationship between efficiency determinants and profitability. Hence, it provides a more comprehensive analysis whereas most studies in the past applied specific model such as Data Envelopment Analysis (DEA) or Tobit or Fixed Effect Model (FEM) on an individual basis instead of employing the three methods in one study. The findings from this comparative study will add an interesting dimension to the existing literature and body of knowledge in relevant manners. This study is novel in presenting new finding on the impact to the Islamic banks on several latest issues such as Financial Crisis (AFC), 2008 Global Financial Crisis (GFC), region in MENA and ASIA, and GNI country income based on 2003 World Bank Atlas method.
Book Synopsis The Developing Role of Islamic Banking and Finance by : Fouad H. Beseiso
Download or read book The Developing Role of Islamic Banking and Finance written by Fouad H. Beseiso and published by Emerald Group Publishing. This book was released on 2014-07-10 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume highlights a vital developmental stage of Islamic Banking and Finance, focusing on regulatory aspects, regional case studies and International Financial Crisis impacts. It aims to help decision makers identify key factors for the real, sustained development of the Islamic Banking System, nationally, regionally and internationally.
Book Synopsis An Overview of Islamic Finance by : Mr.Mumtaz Hussain
Download or read book An Overview of Islamic Finance written by Mr.Mumtaz Hussain and published by International Monetary Fund. This book was released on 2015-06-02 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.
Book Synopsis Weathering the Global Crisis: Can the Traits of Islamic Banking System make a Difference? by : Wan Khairuzzaman Wan Ismail
Download or read book Weathering the Global Crisis: Can the Traits of Islamic Banking System make a Difference? written by Wan Khairuzzaman Wan Ismail and published by Partridge Singapore. This book was released on 2014-04 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is for those interested to know more about Islamic banking. In addition, it provides insights to both regulators and practitioners to focus their efforts in balancing their portfolio and improving the health of their Islamic banks for the future. Past studies have shown that Islamic banks, unlike their conventional banking counterparts, were better able to weather the global financial crisis partly due to the nature of the Islamic finance which prohibits excessive risk taking. In this book, the authors review the Islamic finance in terms of governance and firms' characteristics. We elaborate the relationships between corporate governance and firm characteristics with Risk Weighted Capital Adequacy Ratio (RWCAR) of full-fledged Islamic Banks in Malaysia. The motivation for the study is to seek whether the RWCAR of Islamic banks is influenced by the Corporate Governance and Firm Characteristics variables post 2008 global financial crisis. Descriptive statistics were presented and correlation using Pearson's Model Correlation Coefficient (PMCC) was observed and analyzed. The findings reveal that Corporate Governance has no direct relationship with the RWCAR of Islamic banks in Malaysia. Instead, firm characteristics variables such as Total Financing Assets and Effective Foreign Ownership have a strong relationship with RWCAR.
Book Synopsis Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead by : Ms.May Y Khamis
Download or read book Impact of the Global Financial Crisis on the Gulf Cooperation Council Countries and Challenges Ahead written by Ms.May Y Khamis and published by International Monetary Fund. This book was released on 2010-07-21 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.
Book Synopsis Are Islamic Banks More Resilient during Financial Panics? by : Moazzam Farooq
Download or read book Are Islamic Banks More Resilient during Financial Panics? written by Moazzam Farooq and published by International Monetary Fund. This book was released on 2015-02-26 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapid growth of Islamic banking in developing countries is accompanied with claims about its relative resilience to financial crises as compared to conventional banking. However, little empirical evidence is available to support such claims. Using data from Pakistan, where Islamic and conventional banks co-exist, we compare these banks during a financial panic. Our results show that Islamic bank branches are less prone to deposit withdrawals during financial panics, both unconditionally and after controlling for bank characteristics. The Islamic branches of banks that have both Islamic and conventional operations tend to attract (rather than lose) deposits during panics, which suggests a role for religious branding. We also find that Islamic bank branches grant more loans during financial panics and that their lending decisions are less sensitive to changes in deposits. Our findings suggest that greater financial inclusion of faith-based groups may enhance the stability of the banking system.
Book Synopsis Impacts of the Global Financial Crisis on Islamic Banking by : Salad Araye Addawe
Download or read book Impacts of the Global Financial Crisis on Islamic Banking written by Salad Araye Addawe and published by LAP Lambert Academic Publishing. This book was released on 2012-06 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global financial system runs into trouble in 2007. While many western banks defaulted during that period, no major Islamic bank defaulted. For this purpose, this book tries to understand what methods used by the Islamic banks to spare from the crisis. Because Islamic banks do not charge interest as their conventional counterparts and instead use profit and loss sharing methods, this book gives some important information on how Islamic bank work in practice. The book introduces also financing modes used by the Islamic banks
Download or read book Islamic Finance written by Mehmet Asutay and published by . This book was released on 2015 with total page 1100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of new research brings together state of the art thinking by 46 experts from academia and business on all key aspects of Islamic Finance. Individual volumes deal with the key issues of: Political Economy, Values and Aspirations; Growth, Performance and Efficiency; Stability and Risk.
Book Synopsis Determinants of Conventional and Islamic Banks' Efficiency Before and After Global Financial Crisis 2008 by : Muzdalifah Muzdalifah
Download or read book Determinants of Conventional and Islamic Banks' Efficiency Before and After Global Financial Crisis 2008 written by Muzdalifah Muzdalifah and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims to compare the Islamic and conventional banks' efficiency before and after global financial crisis. Furthermore, it also examines factors affecting the efficiency. Using Data Envelopment Analysis (DEA), this study finds that conventional banks are more efficient than those of Islamic banks over the observation periods. In addition, this study also finds that bank size, capitalization, and credit risk of Islamic banks are significantly influence Overall Technical Efficiency (OTE). Meanwhile Pure Technical Efficiency (PTE) is influenced by profitability, bank size, and capitalization. In addition, Scale Efficiency (SE) is influenced by bank size and credit risk. On the other hand, conventional banks' Overall Technical Efficiency (OTE) is significantly influenced by capitalization and liquidity. Furthermore, Pure Technical Efficiency (PTE) is influenced by profitability, credit risk, and liquidity, whilst Scale Efficiency (SE) is influenced by bank's capitalization and liquidity.
Book Synopsis Causes and Remedies of the Recent Financial Crisis from an Islamic Perspective by : Mufti Muhammad Taqi Usmani
Download or read book Causes and Remedies of the Recent Financial Crisis from an Islamic Perspective written by Mufti Muhammad Taqi Usmani and published by Turath Publishing. This book was released on 2014-01-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Causes and Remedies of the Recent Financial Crisis From an Islamic Perspective As the leading authority on modern Islamic finance in the world today, no one was better qualified to speak for Islam at the annual World Economic Forum following the global financial crisis in 2010. In his address, Mufti Taqi Usmani pointed out that the so-called crisis only came about when it knocked at the doors of the wealthy.’ Otherwise, as Mufti Usmani astutely points out, the true crisis is ongoing and unless fundamental changes are made to the worlds economic system, that crisis will continue. In the pages of this slim volume, the reader will find a concise study of the fundamental flaws in the global economic system, and the eternal principles articulated by the Shariah of Islam that point to a solution. – Yusuf Talal DeLorenzo, Shariah Consultant to Global Financial Institutions Mufti Taqi's paper, written in the context of global financial crisis, calls for universal change in our attitude toward the treatment of money and the role of financial system in our lives. His is a timely call for overhauling the economic system based on values and principles. A must read for all who are concerned about the current affairs of our financial system. – Nazim Ali, Director, Islamic Finance Project, Harvard Law School Harvard University
