Since its inception, Islamic banking in Pakistan has shown remarkable growth and development. Most recent statistics unveil that industry has captured around 13% of the total banking market in Pakistan. This outstanding augmentation of the industry highlights the crucial role of Islamic banks...

We document that a firm's culture — specifically, its religiosity — affects its cost of debt. Firms in higher-religiosity counties have higher credit ratings and lower debt costs. The impact of religiosity is stronger for firms with greater information asymmetry and during recessions....

Using unit-level data on the entire population of registered manufacturing SMEs in 2007 for India, we explore the impact of religiosity on their access to finance. The findings indicate that certain categories of religion, such as Hindus and Sikhs, are less likely to have access to institutional...

This paper explores the significance of Islamic banking in Malaysia for stability in the country's economy as a whole. Neither conventional theory nor Islamic economics puts forward a systematic explanation of financial intermediation; consequently, neither is capable of identifying...

Inefficiencies in mainstream credit markets have pushed selected households to frequent high cost payday loans for their liquidity needs. Ironically, despite the prohibitive cost there is still persistent demand for the product. This paper rides on the public policy objective of expanding...

This paper explores the impact of international financial integration on credit markets in Latin America, using a cross-country dataset covering 17 countries between 1996 and 2008. It is found that financial integration amplifies the impact of international financial shocks on aggregate credit...

Using firm level data from eight Sub-Saharan Africa countries we examine credit constraint differentials between male and female manufacturing entrepreneurs. Enterprises owned by female entrepreneurs are less likely to be credit constrained compared to their male counterparts. The magnitude of...

For the sixth time, international academics and practitioners met for a successful credit risk conference. Keynote speeches and academic sessions highlighted current developments and necessary improvements in areas such as fintech, regulation, credit ratings and risk analysis. Digitization also...

This paper examines the interactions of macroprudential and monetary policies. We find, using a range of macroeconomic models used at the European Central Bank, that in the long run, a 1% bank capital requirement increase has a small impact on GDP. In the short run, GDP declines by 0.15-0.35%....