THE ROLE OF ISLAMIC BANKING IN GROWTH AND DEVELOPMENT OF FINANCIAL MARKET: A CASE STUDY OF KUWAIT
Journal Title: International Journal of Accounting and Financial Management Research (IJAFMR) - Year 2018, Vol 8, Issue 3
Abstract
The main objective of the research study was to test the role of Islamic banks in the performance of the financial market in Kuwait. This aim has been attained by comparing Total Average Returns on stocks and risks of Islamic and conventional banks that form the financial market. According to the results of the dissertation, the hypothesized assumption of the dominant role of Islamic banks was proved empirically. In addition, the econometric tests such as the one-way ANOVA test or the one-sample T-test provided different outcomes. While the one-way ANOVA pointed at the absence of statistically significant differences in average returns, the results of the one-sample T-test allowed for concluding that Islamic banks were superior to other groups of banks in terms of their contribution to financial market performance.
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