tailieunhanh - Islamic vs. Conventional Banking: Business Model, Efficiency and Stability

A number of biologists have probed the history of insects to determine what factors account for their huge diversity. Peter Mayhew, a biologist at the Univer- sity of York, has tested the leading hypotheses. Insects don’t seem to have a par- ticularly high rate of speciation, he has found, but they do seem good at with- standing extinctions. Fifty percent of all families of insect species alive today existed 250 million years ago. None of the families of tetrapod species alive 250 million years ago exists today; all have been replaced by newer groups. So what gives insects their sticking power? Mayhew argues that a few key. | Public Disclosure Authorized Public Disclosure Authorized WPS5446 Policy Research Working Paper 5446 Islamic vs. Conventional Banking Business Model Efficiency and Stability Thorsten Beck Asli Demirgủẹ-Kunt Ouarda Merrouche The World Bank Development Research Group Finance and Private Sector Development Team October 2010 Policy Research Working Paper 5446 Abstract This paper discusses Islamic banking products and interprets them in the context of financial intermediation theory. Anecdotal evidence shows that many of the conventional products can be redrafted as Sharia-compliant products so that the differences are smaller than expected. Comparing conventional and Islamic banks and controlling for other bank and country characteristics the authors find few significant differences in business orientation efficiency asset quality or stability. While Islamic banks seem more cost-effective than conventional banks in a broad cross-country sample this finding reverses in a sample of countries with both Islamic and conventional banks. However conventional banks that operate in countries with a higher market share of Islamic banks are more cost-effective but less stable. There is also consistent evidence of higher capitalization of Islamic banks and this capital cushion plus higher liquidity reserves explains the relatively better performance of Islamic banks during the recent crisis. This paper a product of the Finance and Private Sector Development Team Development Research Group is part of a larger effort in the department to understand Islamic banking and its impact. Policy Research Working Papers are also posted on the Web at http . The author may be contacted at ademirguckunt@. The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly even if the presentations are less than fully .

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