Comparative Analysis of Islamic and Conventional Banks in the UAE During the Financial CrisisReport as inadecuate




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Journal: Asian Economic and Financial Review

Abstract: The discourses of Islamic and conventional finance differ according to the principles of Islamic finance there is no separation of the spiritual and the secular. Islamic finance is explicitly concerned with spiritual values and social justice, in contrast to conventional finance, which is based on the maximization of individual utility, welfare and choice, as expressed for example in the shareholder value model. Islamic and conventional banks respond differently to financial shocks. This study analyses the performance of Islamic and conventional banking systems in the UAE during the financial crisis. The study was undertaken in two stages, first a comparative analysis one Islamic and one conventional banks from 2007 until 2008. Secondly, a cross sectional analysis, between the Islamic 8 banks and conventional banking sector 43 banks that operated in the UAE during the period 2007-2008 was undertaken. This study contributes in the existing literature and help to the understanding of Islamic finance principles and its value as a solution to the current and any future financial crises. The findings of this research will be of interest to conventional and Islamic financial practitioners, policy makers and academicians.

Economics

Asian Economic and Financial Review

Month: 06-2016 Issue: 6







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