انضباط السوق في القطاع المصرفي الإسلامي : دراسة تحليلية على مصرف الراجحي

Abstract EN

This paper aims to study the existence of market discipline in Islamic banks, by conducting an analytical study on Al-Rajhi Bank, which is considered one of the largest Islamic banks in the world, and the period of study extended from 2006 to 2018.

Our results show that: Al-Rajhi Bank is a commercial bank more than an investment bank, as it relies on murabahah and installment sales very much, and financing operations accounted for two-thirds of the volume of assets; The holders of investment deposits practiced market discipline on Al-Rajhi Bank, but its effect is very weak, as the holders of investment deposits responded to the changes that occurred in the volume of returns and were not sensitive to the direction of the changes witnessed by the rest of the financial indicators.

Saudi supervisory bodies cannot benefit from the signals generated by investment deposits, as long as their size is insufficient and mudaraba formulas and musharaka in Al-Rajhi Bank are almost non-existent.