Bank Risk in an Islamic Financial System: Inter-temporal Comparative Study

چکیده مقاله

In order to determine whether the financial system without interest could really be an alternative to the financial system based on the interest, we have completed a study of 78 Islamic banks in 12 countries, where such institutions have been considered to be more active during the period 2004-2013. By performing an inter-temporal comparative analysis (pre-crisis period, period of crisis, post-crisis period), we have combined a series of microeconomic variables with other macroeconomic that depend on risk which is hereby defined as insolvency risk measured by Zscore and credit risk measured by EQL. Using the method of the generalized method of moment (GMM system), the results show that the financial crisis positively affected the risk of Islamic banks. Generally, the Islamic banks are more stable and less exposed to credit risk before and after the crisis than during the crisis period.

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