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Islamic Banks and Financial Stability: An Empirical Analysis

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Author Info
Martin Cihák
Heiko Hesse

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Abstract

The relative financial strength of Islamic banks is assessed empirically based on evidence covering individual Islamic and commercial banks in 18 banking systems with a substantial presence of Islamic banking. We find that (i) small Islamic banks tend to be financially stronger than small commercial banks; (ii) large commercial banks tend to be financially stronger than large Islamic banks; and (iii) small Islamic banks tend to be financially stronger than large Islamic banks, which may reflect challenges of credit risk management in large Islamic banks. We also find that the market share of Islamic banks does not have a significant impact on the financial strength of other banks.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/16.

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Length: 29 pages
Date of creation: 30 Jan 2008
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Handle: RePEc:imf:imfwpa:08/16

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Keywords: Islamic banking Financial stability

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Frederic S. Mishkin, 1999. "Financial Consolidation: Dangers and Opportunities," NBER Working Papers 6655, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Franklin Allen & Douglas Gale, 2004. "Competition and financial stability," Proceedings, Federal Reserve Bank of Cleveland, pages 453-486.
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  3. El-Hawary & Dahlia & Grais, Wafik & Iqbal, Zamir, 2004. "Regulating islamic financial institutions : The nature of the regulated," Policy Research Working Paper Series 3227, The World Bank. [Downloadable!]
  4. Martin Cihák & Klaus Schaeck & Simon Wolfe, 2006. "Are More Competitive Banking Systems More Stable?," IMF Working Papers 06/143, International Monetary Fund. [Downloadable!]
  5. Zubair Iqbal & Abbas Mirakhor, 1987. "Islamic Banking," IMF Occasional Papers 49, International Monetary Fund.
  6. Luc Laeven & Ross Levine, 2005. "Is There a Diversification Discount in Financial Conglomerates?," NBER Working Papers 11499, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. Luca Errico & Vasudevan Sundararajan, 2002. "Islamic Financial Institutions and Products in the Global Financial System: Key Issues in Risk Management and Challenges Ahead," IMF Working Papers 02/192, International Monetary Fund. [Downloadable!]
  8. Martin Cihák & Heiko Hesse, 2007. "Cooperative Banks and Financial Stability," IMF Working Papers 07/2, International Monetary Fund. [Downloadable!]
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