Because Islamic banks are prohibited from entering into transactions based on riba (interest), they mobilise funds mainly on the basis of the mudaraba (profit-sharing) form of contract. Thus, in the place of interest-bearing customer deposits, Islamic banks offer investment accounts the return...

This paper uses structural time series methodology to investigate seasonality factors for the returns of Kuwait stock market and its various sectors. The results indicate the existence of positive pre-summer seasonal factors for the market and most of the sectors, which can be explained by the...