ISLAMIC BANKING DURING THE FINANCIAL CRISIS OF 2007
The purpose of this paper is to initially contribute to the literature linking the global financial crisis and performance of Islamic banks. Thus, it is important for everyone's future to study the current crisis in order to develop sustainable financial practices and in quest of a new busine...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University in Belgrade
2015-04-01
|
| Series: | Serbian Journal of Management |
| Subjects: | |
| Online Access: | http://www.sjm06.com/SJM%20ISSN1452-4864/10_1_2015_May_1-140/10_1_2015_89_108.pdf |
| Summary: | The purpose of this paper is to initially contribute to the literature linking the global financial
crisis and performance of Islamic banks. Thus, it is important for everyone's future to study the
current crisis in order to develop sustainable financial practices and in quest of a new business model
based on sharing the profit and loss. This sustainable financial practice is based on non-interest-based
transactions but profit and loss sharing, which should be in practice at the financial system. In this
paper, the performance of the Islamic banks in a period of crisis, were tested. The sample of 29
Islamic banks from 7 countries and from a period of study of 7 years (2006-2012), was used.
According to the empirical results, it was concluded that the Islamic banks are not affected by the
financial crisis of 2007. |
|---|---|
| ISSN: | 1452-4864 2217-7159 |