Chong, Beng Soon; Liu, Ming-Hua - In: Pacific-Basin Finance Journal 17 (2009) 1, pp. 125-144
A unique feature of Islamic banking, in theory, is its profit-and-loss sharing (PLS) paradigm. In practice, however, we find that Islamic banking is not very different from conventional banking. Our study on Malaysia shows that only a negligible portion of Islamic bank financing is strictly PLS...