Symptomy kryzysu globalnego a etyka gospodarcza religii światowych. Analiza porównawcza bankowości islamskiej i bankowości klasycznej w kontekście kryzysu finansowego

The differences between the commercial banking system and Islamic Banking in the context of the global financial crisis

Adam Czerniak

MPRA Paper from University Library of Munich, Germany

Abstract: This article deals with the issue of Islamic Banking and its differences from the classical, anglo-saxon banking system. It investigates the availability, prices and volatility of Islamic financial instruments during the global financial crisis in comparison to the behavior of similar instruments offered by commercial banks. For this purpose 3 hypothesis, based on conclusions from the state-of-the-art research on Islamic Finance, were tested: (1) because of the prohibition of speculation, high risk aversion and a distinctive form of enterprise financing the equity prices of shariah-compliant firms were less volatile and more stable than other equity prices; (2) the asset portfolio of classical banks were much more riskier than of similar Shariah-compliant banks; (3) the higher level of trust between Islamic financial market participants induced by sharing the same religion, values and the same set of moral and formal rules has reduced in comparison to the classical banking scheme the dry-up of interbank money liquidity caused by the recent financial crisis. The results of the conducted tests indicate that there were no major differences between Shariah-compliant and commercial banks during the recent financial crisis.

Keywords: Islamic Banking; Financial Crisis; Ethics (search for similar items in EconPapers)
JEL-codes: A13 E44 P51 (search for similar items in EconPapers)
Date: 2010-11
New Economics Papers: this item is included in nep-ara
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/26971/1/MPRA_paper_26971.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:26971

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().