Islamic Finance: A Bulwark against Crisis?

Abstract

The aim of this paper is to show that the Islamic finance is more stable than the conventional finance constituting, thus, a means to reduce the impact of financial crisis. Using a VAR model for the financial indexes of France (SBF250), United States (DOW JONES), United Kingdom (FTSE100), Indonesia (JAKISLM) and Saudi Arabia (TADAWUL) covering the period (26/02/2007-12/20/2010), we show that the effect of a shock on the American market during the period of crisis is negatively transmitted on all other markets, but with a small extent on the market using the method of Islamic financing.

A Study of Conflict Issues Affecting Ugandan Housemaids who Migrate to Saudi Arabia and How to Mitigate them

March 10, 2026

This study aims to comprehensively analyse the complex interplay between