Money isn’t everything. That would appear to be the very clear message from the International Monetary Fund Working Paper Are Islamic Banks More Resilient during Financial Panics? by Moazzam Farooq and Sajjad Zaheer. The suggestion being that ‘religious branding’, rather than any other observable bank characteristics, might have helped Islamic financial institutions fare better during the financial panic, specifically Islamic commercial and retail banks. The Islamic investment banking sector had a distinctly unpleasant time during the financial crisis.
Wednesday 01, April 2015 by Robin Amlôt