Islamic banks' return on deposits comove with conventional banks: IMF paper

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An International Monetary Fund paper, published on Wednesday, finds evidence of a long-term relationship between returns on short-term deposits in conventional banks and retail Islamic banks in Malaysia and in Turkey.

Serhan Cevik and Joshua Charap, the paper's authors, uses monthly data from January 1997 to August 2010 to examine the behaviour of conventional bank deposit rates and rate of return on retail Islamic profit-and-loss sharing investment accounts in Malaysia and Turkey.

The results

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