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The Effects Of The Global Crisis On 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 Islamic Banking by : Amr Mohamed El Tiby Ahmed
Download or read book Islamic Banking written by Amr Mohamed El Tiby Ahmed and published by John Wiley & Sons. This book was released on 2010-11-17 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed look at the fast-growing field of Islamic finance and banking The guiding principle of Islamic finance has existed throughout Islamic history, yet modern Islamic banking has been around for a relatively short period of time. Author Amr Mohamed El Tiby is an expert in this field, and with this new book, he reveals how you can benefit from the use of Islamic banking strategies in your financial endeavors. Engaging and accessible, Islamic Banking shows the impact this approach has made on conventional banking since the 1950s, and why it's such a big player in the current market. It offers a unique look at various aspects of this field, including the salient features of Islamic banking that distinguishes it from non-Islamic banking, the development of the regulatory bodies and supervisory agencies that support the Islamic banking system, and much more. It also explores the nature of risk in Islamic banking and the issues of capital adequacy, corporate governance, transparency, and risk associated with Islamic banking. Discusses the history and development of Islamic finance Offers straightforward strategies for implementing Islamic finance into your business activities Sheds light on the effect of the global economic crisis on Islamic banks versus conventional banks Filled with in-depth insights and expert advice, this detailed analysis of Islamic finance will help you gain a firm understanding of how effective this proven approach can be.
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 Weathering the Global Crisis: Can the Traits of Islamic Banking System Make a Difference? by : Mohamad Azhar Nizam
Download or read book Weathering the Global Crisis: Can the Traits of Islamic Banking System Make a Difference? written by Mohamad Azhar Nizam and published by Partridge Publishing Singapore. This book was released on 2014-05-01 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 Pearsons 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 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
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 Globalization and Islamic Finance by : Hossein Askari
Download or read book Globalization and Islamic Finance written by Hossein Askari and published by John Wiley & Sons. This book was released on 2011-11-11 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extremely valuable book written by three highly qualified scholars whose credentials for writing such a book are difficult to match. The timing of the book is also perfect, having come at a time when the worst financial crisis in living memory has intensified the quest for reform of the international architecture. The proposals made by the authors should go a long way in not only reforming the system but also in accelerating the move towards financial globalization and convergence of the conventional and Islamic financial systems. Dr. Umer Chapra Prominent Scholar of Islamic Economics and currently Research Advisor Islamic Research and Training Institute (IRTI), Islamic Development Bank (IDB) Globalization and Islamic Finance, by three well-respected authors in Islamic finance, provides a thought-provoking analysis of an important and topical issue, particularly, given the global impact of the current financial and economic crises. The book is the first attempt to make a compelling case of convergence between globalization and Islamic finance. Askari, Iqbal and Mirakhor should be praised for this serious effort, which is a must-read for academics and practitioners interested in Islamic finance. Professor Rifaat Ahmed Abdel Karim Secretary General Islamic Financial Services Board (IFSB) This book has a robust discussion of the growth and spread of Islamic finance within the umbrella of globalization. The book provides a unique view of Islamic finance, not only from the perspective of how Islamic finance fits within globalization in general, but globalization of finance in particular. This is a must read for anyone interested in the complex and complicated world of Islamic finance. Scheherazade S. Rehman, Ph.D. Director, European Union Research Center Professor of International Finance, School of Business The George Washington University I have not come across any literature that has delved so intensely in financial globalization, in particular Islamic finance. Due to this reason, I would encourage all interested in this area to read this book. Hajah Salma Latiff Managing Director, Crescent Sdn. Bhd. Former Director, Centre for Islamic Banking, Finance and Management (CIBFM), Universiti Brunei Darussalam The recent crisis has evoked wide interest in Islamic finance publications. Globalization and Islamic Finance is both timely and needed. Sani Hamid Director, Wealth Management Financial Alliance (Singapore)
Book Synopsis Effects of the Financial Crisis by : Fatma Zehri
Download or read book Effects of the Financial Crisis written by Fatma Zehri and published by LAP Lambert Academic Publishing. This book was released on 2012 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent global financial crisis has revealed many problems with the current capitalistic banking system. However, the current economic disaster has presented the Islamic banking system with a golden opportunity to introduce its methods and principles inspired the Islamic law of Shariaa to world at large. The aim of this book is to determine the impact of the current global financial crisis on Islamic banks compared to conventional ones based on accounting ratios. Islamic banks have their own characteristics and operate under different principles. These issues seems to be very interesting to be analysed deeply mainly within the actual economic turbulence.
Book Synopsis Macroprudential Regulation and Policy for the Islamic Financial Industry by : Muhamed Zulkhibri
Download or read book Macroprudential Regulation and Policy for the Islamic Financial Industry written by Muhamed Zulkhibri and published by Springer. This book was released on 2016-05-25 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy – which has gained important impetus in recent years – are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.
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.
Book Synopsis Banking Governance, Performance and Risk-Taking by : Faten Ben Bouheni
Download or read book Banking Governance, Performance and Risk-Taking written by Faten Ben Bouheni and published by John Wiley & Sons. This book was released on 2016-09-16 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development of emerging countries is often enabled through non-conventional finance. Indeed, the prohibition of interest and some other impediments require understanding conventional finance and Islamic finance, which both seek to be ethical and socially responsible. Thus, comparing and understanding the features of Islamic banking and conventional banking, in a globalized economy, is fundamental. This book explains the features of both conventional and Islamic banking within the current international context. It also provides a comparative view of banking governance, performance and risk-taking of both finance systems. It will be of particular use to practitioners and researchers, as well as to organizations and companies who are interested in conventional and Islamic banking.
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 Resolution Frameworks for Islamic Banks by : Elsie Addo Awadzi
Download or read book Resolution Frameworks for Islamic Banks written by Elsie Addo Awadzi and published by International Monetary Fund. This book was released on 2015-11-24 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic banking is growing rapidly and its potential impact on global financial stability cannot be underestimated. International standards for resolving banks have evolved after the global financial crisis, culminating in the Financial Stability Board’s (“FSB”) Key Attributes of Effective Resolution Regimes for Financial Institutions. This paper examines the applicability of the Key Attributes to the resolution of Islamic banks. It concludes that a number of issues would need to be addressed, owing to Islamic banks’ unique governance structures and balance sheets. It recommends international guidance for the design of robust Shari`ah -compliant resolution frameworks for jurisdictions with Islamic banks.
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 Islamic Banking by : Mr.Kangni Kpodar
Download or read book Islamic Banking written by Mr.Kangni Kpodar and published by International Monetary Fund. This book was released on 2010-08-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of the pattern of Islamic bank diffusion around the world using country-level data for 1992 - 2006. The analysis illustrates that income per capita, share of Muslims in the population and status as an oil producer are linked to the development of Islamic banking, as are economic integration with Middle Eastern countries and proximity to Islamic financial centers. Interest rates have a negative impact on Islamic banking, reflecting the implicit benchmark for Islamic banks. The quality of institutions does not matter, probably because the often higher hurdle set by Shariah law trumps the quality of local institutions in most countries. The 9/11 attacks were not important to the diffusion of Islamic banking; but they coincided with rising oil prices, which are a significant factor in the diffusion of Islamic banking. Islamic banks also appear to be complements to, rather than substitutes for, conventional banks.
