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Profit And Loss Sharing As an Offshoot for Bank Stability: A Comparative Analysis

Nico P. Swartz


Odirile Otto Itumeleng

Nico P. Swartz 1 ,

Odirile Otto Itumeleng 1 
  1. University of Botswana, Department of Law, Gaborone, Botswana 1

Pages: 64-77

DOI: 10.18488/journal.62/2015.2.3/

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The global crisis in 2007 has revived interest in the Islamic banking and finance industry.  The profit and loss sharing (mudaraba and musharaka) attributes of Islamic banking and finance have shielded Islamic banks from the impact of a crisis.  In other words, the Islamic banking system is stable by virtue of the profit and loss sharing principle.  The relative stability of the Islamic banking model can also be deduced from the fact that the Islamic banking and finance system is effectively under the control of the authority of the central bank, which is not easily influenced by non-policy factors.  This study concludes that a case for the superiority of Islamic banking has been made for example in Tunisia and Iran, where separate Islamic or interest-free counters were opened in all branches of commercial banks along with traditional or westernised interest-based banks. The substitution of western interest-bearing deposits by profit and loss sharing deposits connotes to the stability of the Islamic finance and banking system.  The Islamic profit and loss sharing system does have merit and deserves attention from academics and policy-makers alike, especially in view of the financial crises and rampant bank failures.
Contribution/ Originality
This study contributes in the existing literature on the Islamic finance and banking law and the traditional or westernised interest-based banking system.  This study documents that a case for the superiority of Islamic finance and banking has been made for example in Tunisia and Iran.




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( 303 ) Developing a Conceptual Model for Antecedents of Resistance to Change towards Sustainable Construction Practices
( 304 ) Export- Led Growth Hypothesis for Ghana: A TVAR & TVECM Analysis
( 305 ) A Process Model for Conformance of Health Information Systems: Towards National Interoperability
( 306 ) Likely Effect of Gender and Education on Information Adoption and Utilization among Sugarcane Farmers in the Nyanza Region, Kenya
( 307 ) Change Management and Firm Performance of Selected Deposit Money Banks in Owerri, Imo State, Nigeria
( 309 ) The Contingent Fit between Management Control System and Capabilities on Sustainability Performance
( 311 ) Exchange Rate Fluctuations and the Performance of Nairobi Securities Exchange Market in Kenya During the Coronavirus Pandemic
( 312 ) A Qualitative Analysis of the Impediments to Business Innovation and Information Management in Nigeria: A Policy Stance
( 313 ) Analysis of Demographic Factors on Perceptions of Inventory Managers towards Healthcare Performance
( 314 ) Contribution of Domestic Direct Investment and Direct Foreign Investment to Economic Growth in Indonesia Era Joko Widodo
( 315 ) The Euribor and EONIA Reform: Achieving Regulatory Compliance while Protecting Financial Stability
( 316 ) The Financial Decentralization Policy for Local Development in Cameroon: An Econometric Analysis
( 317 ) Innovation Efforts in the Face of Institutional Obstacles in Latin America