Efficiency of Islamic banks in selected member countries of the Organisation of Islamic Conference

Dewi, Miranti Kartika; Sulaiman, Maliah; Ferdian, Ilham Reza

doi:10.1504/ijmef.2010.031236

Cited by 6 publications

(5 citation statements)

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“…This position has been demonstrated further by the study of El-Hawary, Grais and Iqbal (2007). In addition, literature contends that there is efficiency in Islamic banks (Dewi, Sulaiman and Ferdian, 2010;Mondher, 2013) in various countries of Organization of Islamic Conference (OIC) such as: Bangladesh, Malaysia and Saudi Arabia. Moreover, studies have posited that contemporary Islamic finance provides innovative ideas on the applications and practice of Islamic financial services in the Muslim countries (Mahmoud, 2006;El-Hawary, Grais & Iqbal, 2007).…”

Section: Discussionmentioning

confidence: 93%

An assessment of standard regulatory framework for Islamic Banking System in Bangladesh

Hassan¹

2020

Journal of Human Sport and Exercise - 2020 - Winter Conferences of Sports Science

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Regulatory framework for Islamic banking system has been theoretically explored in the existing literature in different parts of Muslim countries including Bangladesh. Islamic banking has been growing in Bangladesh since few decades ago. Scholarly researches have investigated different theoretic bases for the operation of Islamic baking in the country. However, theoretical assumptions are no longer viable or sufficient in establishing standard regulatory framework for Islamic banking system in predominant Muslim countries. This paper primarily aims at assessing Quantitative research method was employed. The population comprised promoters of Islamic banking. As regards to sample, the researcher used convenient sampling technique in distributing 180 survey questionnaires online to the promoters of Islamic banking system in Bangladesh in order to collect data for this research. Descriptive statistics by using frequencies, percentage, means and standard deviations were used via Statistical Package for Social Science (SPSS) version 16.0 for data analysis. Three factors of standard regulatory framework (SRF) (i.e. Operation of Islamic banking (OIB), Bank Control Law (BCL); Profit-Loss Sharing (PLS) were assessed in this study. The findings showed that the majority of the respondents strongly agreed with underlining indicators (i.e. OIB, BCL and PLS) of standard regulatory framework in the context of Bangladesh. In conclusion, the three identified factors of regulatory framework could complement the existing regulations in Bangladesh. It is therefore recommended that the country should expand the scope of regulatory framework by exploring the regulatory framework being provided in countries like Saudi Arabia and Malaysia in order to effectively standardise it in the country.

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Section: Discussionmentioning

confidence: 93%

An assessment of standard regulatory framework for Islamic Banking System in Bangladesh

Hassan¹

2020

Journal of Human Sport and Exercise - 2020 - Winter Conferences of Sports Science

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“…These authors are aware that the crisis has differing effects on the two business types. As a result of the prohibition on Riba's observation, Dewi and Ferdian (2010) say, Muslim finance will emerge as a solution to the current economic crisis.…”

Section: Literature Reviewmentioning

confidence: 99%

Volatility between Conventional and Islamic Stock Market

Ilyas

Kayani

Fazil

2022

JAFEE

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Purpose: This study investigates the degree and extent of volatility interdependence between the Islamic and conventional stock markets represented by using the Dow Jones indices for the period spanning from Dec 1, 2008, to Dec 31, 2016. Over the last two decades, the stock market has developed rapidly as a new investment instrument and these investments haven't solely extended within the money market and conventional market but also in the developing Islamic markets. Design/Methodology/Approach: GARCH(1,1) conditional volatility series are generated and then further used the Quantile regression approach on volatility series to check the financial markets’ interdependence. Findings: The results show that stock markets are interdependent on all three quantile levels. Accordingly, the structure of interdependence is asymmetric for both Islamic and conventional stock markets. Implications/Originality/Value: Investors, government regulators, and academics can all learn from the findings of this study. The potential for spillover of volatility from conventional stock markets to Islamic stock markets can be effectively countered by investors who develop and implement their unique strategies.

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“…Some researchers argue that investment in Islamic stocks leads to the avoidance of speculation and the avoidance of any unnecessary risk-taking (Obaidullah, 2001;Naughton and Naughton, 2000). Dewi et al (2010) argue that Islamic finance is free of interest, gambling and ambiguity, and that it can therefore help resolve the financial crisis issues. In a key study, Ahmed (2009) argued that financial crisis arose because financial organisations charge interest and engage in risky investments and consequently, the obeying of Islamic financial requirements can help avoid future financial crises.…”

Section: Recent Literaturementioning

confidence: 99%

Shariah-compliant investments and stock returns: evidence from the Indonesian stock market

Lusyana¹,

Sherif²

2017

JIABR

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Purpose The purpose of this paper is to investigate the impact of the Indonesia Shariah-compliant Stock Index (ISSI) on the performance of included shares. In essence, the authors ask whether the establishment of the ISSI provides abnormal returns for the firms that are not included in the Jakarta Index. Design/methodology/approach The authors use an event study methodology to estimate cumulative abnormal returns in the days surrounding the event to examine the relationship between Shariah-compliant investments and stock returns. The estimation window of 90 trading days prior to the event (−30) to day 60 after (+60) is adopted. They also use a range of investment performance measures to provide new evidence on whether faith-based ethical investments generate superior performance compared to their unscreened benchmarks. Findings Using daily returns, the Indonesia ISSI and panel data model, the findings show that the inclusion of the ISSI has a positive impact on the financial performance of the included shares during the 41-day event window. The evidence also suggests that the ethical investment has a significant influence on the performance of stock market returns. Research limitations/implications This study offers insights to policymakers, investors and fund managers interested in the indices’ performance. A key conclusion that could be derived by bodies that regulate Islamic products and services is that investors are not only concerned about what is profitable but also what makes their investments ethical. Originality/value Although the global growth of the Islamic capital market products and services has been tremendous in recent years, very few studies focus on the Indonesian market and indeed, none of them devote sufficient attention to Shariah-compliant investments and stock returns.

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Efficiency of Islamic banks in selected member countries of the Organisation of Islamic Conference

Cited by 6 publications

References 0 publications

An assessment of standard regulatory framework for Islamic Banking System in Bangladesh

An assessment of standard regulatory framework for Islamic Banking System in Bangladesh

Volatility between Conventional and Islamic Stock Market

Shariah-compliant investments and stock returns: evidence from the Indonesian stock market

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