A working paper published by the International Monetary Fund in June, compares the returns from Islamic and conventional finance, considering both securities and banks.

Authors Olga Krasicka and Sylwia Nowak use data from Malaysia to compare the movement of bond and equity prices, and the profitability of banks, in the Islamic and conventional financial sectors. The paper finds the differences between returns on Islamic and conventional bonds, and differences in the profitability of banks, are