Banks of Malaysia

measure of technical efficiency in microfinance institutions in Burkina Faso using the DEA method (Dated Envelopment Analysis). The author chosed technical efficiency instead of the allocative efficiency, the author could calculate on a sample of 94 cooperatives of saving and credit observed during the year 2005 the scores of technical efficiency, pure technical efficiency and of scale efficiency. He shows that in the least favorable hypothesis, 24.50% of the IMF operate on the frontier of efficiency

Head of Trade Center, BNP Parisbas, Egypt. Mehmet Asutay, Lecturer, Université de Durham, Royaume-Uni. Mohammed Bachir Ould Sass, ATER, Ecole de Management Strasbourg, Université de Strasbourg. Abderrazak Belabes, Chercheur au Centre de Recherche sur l’Economie Islamique, Université du Roi Abdelaziz, Jeddah, Arabie Saoudite. Mohamed Boudjellal, Professeur en Sciences Economiques, Université de M’Sila, Algérie. Valentino Cattellan, Lawyer, Ph.D., LL.M., M. Sc., School of Economics University of Siena

Ph.D, Head of Trade Center, BNP Parisbas, Egypt. Mehmet Asutay, Lecturer, Université de Durham, Royaume-Uni. Mohammed Bachir Ould Sass, membre d’ACERFI (Audit, Certification et Recherches en Finance Islamique). Abderrazak Belabes, Chercheur au Centre de Recherche sur l’Economie Islamique, Université du Roi Abdelaziz, Jeddah, Arabie Saoudite. Mohamed Boudjellal, Professeur en Sciences Economiques, Université de M’Sila, Algérie. Valentino Cattellan, Lawyer, Ph.D., LL.M., M. Sc., School of Economics

Head of Trade Center, BNP Paribas, Egypt. Mehmet Asutay, Lecturer, Université de Durham, Royaume-Uni. Mohammed Bachir Ould Sass, ATER, Ecole de Management Strasbourg, Université de Strasbourg. Abderrazak Belabes, Chercheur au Centre de Recherche en Economie Islamique, Université du Roi Abdelaziz, Jeddah, Arabie Saoudite. Mohamed Boudjellal, Professeur en Sciences Economiques, Université de M’Sila, Algérie. Valentino Cattellan, Lawyer, Ph.D., LL.M., M. Sc., School of Economics University of Siena

growth for the last years. However, the Central Bank has allowed the trade of three alternatives products in order to satisfy the growing demand for a given niche market (Moroccan population aiming Islamic Products), as well as to contribute to better banking. The three products are: Mourabaha and the Ijara. The model adopted is akin to that of cooperative banks, with no element of interest rates, to avoid the charge of usury. The Moucharaka, similar to traditional private equity, is a service

Banking 1989-2003, Journal of Banking and Finance, Vol.2, pp.155-87. - Barajas, A., Steiner R. et Salazar, N. (1999). “Interest Spreads in Banking in Colombia 1974-96, IMF Staff Papers, Vol. 46, pp.196-224. - Bashir, A. (2000). “Assessing the Performance of Islamic Banks: Some Evidence from the Middle East 1993-1998”, Papier présenté à la 8ème Conférence de l'Economic Research Forum (ERF), Amman, Jordanie, novembre. Voir: www.erf.org.eg - Beckmann, R. (2007). “Profitability of Western European Banking

Head of Trade Center, BNP Parisbas, Egypt. Mehmet Asutay, Lecturer, Université de Durham, Royaume-Uni. Mohammed-Bachir Ould Sass, membre d’ACERFI (Audit, Certification et Recherches en Finance Islamique). Abderrazak Belabes, Chercheur à l’Institut d'économie islamique, Université du Roi Abdulaziz, Djeddah, Arabie saoudite. Mohamed Boudjellal, Professeur en Sciences Économiques, Université de M’Sila, Algérie. Valentino Cattellan, Lawyer, Ph.D., LL.M., M. Sc., School of Economics University of Siena

ABSTRACT -The practice of ribâ (« usury » or « interest » in Arabie) is forbidden by Islam. This prohibition is inscribed in Islamic Law originating during the Middle Ages in The Arab Peninsula. It is at the core of what is called « Islamic finance », having had a remarkable expansion in the second part of the twentieth century. This article focuses on the origin of ribâ prohibition, the problems facing Islamic finance at the eve of the third millennium and the development prospects of Islamicfinancialinstitutions

ABSTRACT The practice of ribā (« usury » or « interest » in Arabic) is forbidden by Islam. This prohibition is inscribed in Islamic Law originating during the Middle Ages in The Arab Peninsula. It is at the core of what is called « Islamic finance », having had a remarkable expansion in the second part of the twentieth century. This article focuses on the origin of ribā prohibition, the problems facing Islamic finance at the eve of the third millennium and the development prospects of Islamic financial

we address the issue of possible moral hazard that rating agencies might have. We discuss the feasibility of possible incentive contracts that can ameliorate this problem. We find, that incentive payments to the rating agency based on expected returns on debt will do away with the moral hazard problem. JEL Classification No. G140, G200, G290 Key Words: Credit Rating, Information Production, Moral Hazard. 1 Introduction Rating agencies are unique because, the users of their services do not