Continuation
In summary, Islamic finance continues to grow across
different jurisdictions.
Therefore, Islamic windows and fully fledged IIFSs (Institutions
Offering Islamic Financial Services) may offer alternative ways of conducting
business.
4. EMPIRICAL EVIDENCE (STEVEN ONGENA, SAJJAD ZAHEER)
The financial crisis has offered an important yardstick by
which one can gauge the:
-
advantages and
-
disadvantages
of Islamic finance.
This section provides empirical evidence on how IIFSs have performed
in relation to conventional ones, particularly during the crisis period, i.e.
subject to data availability.
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria, L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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