الاستقرار المالي للبنوك الاسلامية في ظل الازمة المالية العالمية ومقارنتها بالبنوك التقليدية دراسة مقارنة لحالة ماليزيا وانجلترا

Abstract

This study aims to try to highlight the extent of the ability of Islamic banks to achieve financial stability and withstand financial crises and compare them with their traditional counterparts; In addition to understanding the foundations of Islamic and conventional finance and the impact of the mortgage crisis on the financial stability of both types of Islamic and conventional banks, and trying to test their financial soundness and assess their financial performance during the study period between 2005-2015, which is a sufficient period to cover the stage before, during and after the mortgage crisis. The study relied to test the financial soundness and financial stability of the sample banks on the Altman Zʺ-score model, which was presented and developed by Altman himself to measure and predict the financial stability and financial soundness of emerging markets and lending institutions. The study used the Altman Z-score model as a valuable analytical tool for measuring and predicting financial stability and monitoring the performance of Islamic and conventional banks of Malaysia and England, as well as looking at the impact of the global financial crisis on the performance of these banks. The study concluded that Islamic finance in theory can provide a system that would enhance the link between finance and the real economy, and thus contribute to achieving comprehensive financial stability, through the ability of its standards and principles derived from Islamic Sharia to achieve financial soundness and gain the confidence of individuals and institutions, and to maintain stability of financial assets. As for conventional banks, theoretically and realistically, they are closely linked to the occurrence, spread and internationalization of the phenomene of financial crises, which characterized the capitalist economic system throughout its ancient and modern history. As for the applied study, it showed that Islamic banks are characterized by financial soundness during the period before and during the crisis, and it is far from financial stumbling, because the Altman Zʺ-score values are much higher than the cut-off point of 2.6, which is the value that Altman set as a minimum for a region. Financial soundness, but despite that, during the period after the global financial crisis, these values showed a downward trend with the onset of the mortgage crisis. As for traditional banks, the study showed the opposite.