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  • Islamic Banking and Finance x
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Mr. In W Song and Carel Oosthuizen
The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision. This paper examines the results of the survey conducted by the International Monetary Fund to document international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities. Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences. This paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking.
Mr. Joshua Charap and Mr. Serhan Cevik
This paper examines the empirical behavior of conventional bank deposit rates and the rate of return on retail Islamic profit-and-loss sharing (PLS) investment accounts in Malaysia and Turkey, using monthly data from January 1997 to August 2010. The analysis shows that conventional bank deposit rates and PLS returns exhibit long-run cointegration and the time-varying volatility of conventional bank deposit rates and PLS returns is correlated and is statistically significant. The pairwise and multivariate causality tests show that conventional bank deposit rates Granger cause returns on PLS accounts. These findings have policy implications in terms of price stability and financial stability.
Mr. Jemma Dridi and Maher Hasan
This paper examines the performance of Islamic banks (IBs) and conventional banks (CBs) during the recent global crisis by looking at the impact of the crisis on profitability, credit and asset growth, and external ratings in a group of countries where the two types of banks have significant market share. Our analysis suggests that IBs have been affected differently than CBs. Factors related to IBs‘ business model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs‘ credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. External rating agencies‘ re-assessment of IBs‘ risk was generally more favorable.
International Monetary Fund. External Relations Dept.
Le FMI aide les pays à faire face à la crise alimentaire; Risques d'inflation; Mark Plant, FMI et crise alimentaire; Perspectives du Moyen-Orient; Résistance des pays émergents; Le retour de la Côte d'Ivoire; Réformes financières au Ghana; Banques Islamiques; Rapport sur la gouvernance du FMI, Tom Bernes; L'actualité en bref.
International Monetary Fund. External Relations Dept.
El FMI se une a la lucha contra la crisis alimentaria, Resurge el riesgo de inflación, Mark Plant, Entrevista: El FMI y la crisis alimentaria, Perspectivas económicas de Oriente Medio, Resistencia de los mercados emergentes, Côte d'Ivoire resurge, Reformas financieras en Ghana, Banca islámica y estabilidad financiera, Informe sobre el gobierno interno del FMI, Tom Bernes, Notas breves
International Monetary Fund. External Relations Dept.
Food Price Crisis, Inflation Risks, Mark Plant, IMF and the Food Crisis, Multilateral Initiative, Middle East Regional OUtllok, Emerging Markets' Resilience, Côte d'Ivoire's Comeback, Ghana's Financial Reforms, Islamic Banks and Financial Stability, Report on IMF Governance, Tom Bernes, News Briefs.