Along with the trend of development in the world, objectives of improving the welfare become no longer merely from looking at the indicator of economic development, but also include human development. Meanwhile,
Only a few cross-country empirical studies have been conducted to measure the performance of commercial banks especially before, during, and after crises (financial or political). This study makes an attempt to fill the gap in literature by investigating the impacts of crises on Gulf corporate conceal (GCC) commercial banks performance over the period between1997-2007. The rationale behind this selection is: i) the GCC countries within this period are witnessed two major crises; the political crisis (second Gulf war) and the financial crisis (current global crisis).
This paper tries to analyse the use of w´ad (promise) and tawarruq for derivative products of swaps and its implications for Islamic finance.
This study examines the impact of trade on the OIC countries’ social developments as measured by the Human Development Index (HDI) using the generalized method of moments (GMM) procedure in a panel data distributed lag model for the years 1980 to 2005, with a five-year increments as well as annual data from 2000 to 2009.
The FSAP, initiated by the IMF and the World Bank, has been implemented internationally including the IDB and IFSB member countries. The initiative is beneficial to further improve the quality of the financial industry as well as to contribute to the global financial stability. The rapid growth of Islamic finance internationally poses new challenges to the supervisory authority particularly with the growing significance of the newly developed industry.
We investigate the differences in banks' responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:III to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less than other small banks. In contrast large banks maintain their lending irrespective of their liquidity positions. Islamic banks, though similar in size to small banks, respond to monetary policy shocks as large banks.
This paper discusses the standardization debate in Islamic finance. ‘Islamic’ structured products particularly Wa’d-based total return swaps are used as a case study to discuss the importance of standardization. The growth of the Islamic finance industry has been hampered by the lack of consensus (ijma`) among the Sharī`ah scholars’ who belong to diverse sects or schools of thought (madahib). This diversity has resulted in disagreements about the acceptability of specific features of Islamic financial products.
This study aims to determine the stability of Islamic banking and its comparison with conventional banking in Indonesia. In this case, the level of bank stability is measured individually using one of accounting-based bank soundness measurement called the Z-score indicator. Using the parametric statistical t-test, the study shows that the level of stability comparison between Islamic banks and conventional banks are significantly different. This research uses the sample data of 12 Islamic banks and 71 conventional banks in Indonesia during the period of 2004-2009.