Growth and Financial Performance of Islamic Banks in Nigeria: The Monetary Policy Impact

Dr. Olalekan Akinrinola and Aruwa Isah Yusuf
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Dr. Olalekan Akinrinola: Department of Finance, Caleb University, Imota, Lagos Nigeria.
Aruwa Isah Yusuf: Department of Finance, Caleb University, Imota, Lagos Nigeria.

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 12, 01-09

Abstract: The study investigates the impact of monetary policy on the growth and financial performance of Islamic Banks using data spanning the periods 2014-2019 from 3 Islamic Banks in Nigeria (Jaiz Bank Plc, Sterling Bank Plc and Stanbic IBTC Bank Plc i.e., operating full-fledge Islamic bank or Islamic Banking windows). The study employed the Robust Least Squares (RLS) and Panel Robust Least Squares (PRLS) methods to examine the specific Banks’ effect and the panel analysis. The results showed that on the specific Banks’, monetary policy significantly impacted on their growth and financial performances. However, considering the panel result, monetary policy impacted insignificantly on the Banks, which reflects the disparity in the strategic positions of the Banks. It concluded and recommended from the research findings that the in growth and financial planning of the Islamic banks in Nigeria, plans are put in place to mitigate the unstable monetary policy landscape, while also evaluating the possibility of a dual regulatory model which accommodates Islamic banking guidelines of profit or loss sharing

Date: 2020
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