This research aims at examining the differences between Islamic and conventional banks in terms of business orientation, stability, and efficiency. Data for this research are collected from 48 conventional banks and 28 Islamic banks of the Gulf Cooperative Council (GCC) countries over the period...

Every global crisis presents a new learning experience for the humanity. Some crises also have paradigm-shifting significance. The last crisis of 2008 might be one of those. Yet, the macro-policy approach of the major industrialized economies seems to be still based on macro-stabilization or...

A major factor behind this crisis is financialization of the system, with a growing disconnect between the monetary and the real sector. Some proponents of the Islamic finance claim such financial crisis would have been avoided, if asset-backed Islamic finance were adopted. However, while...