The Effect of Matching Behavior to the Usury (Interest) Free Banking System on the Economic Efficiency of Banking System: Application of Arellano-Bond N-Step GMM Estimator in Dynamic Panel Data Model

Economic efficiency enhancement is one of the main challenges in Usury (Interest) free banking system. Nowadays, Efficiency is one of the essential measures to determine the level of competitiveness in domestic and foreign fields in various industries and organizations; Banks are no exception. In this research, technical, allocative and economic efficiency of 26 banks during the period of 2006 to 2015 is calculated using data envelopment analysis; then, using a dynamic panel specification and Arellano-Bond N-step GMM estimator, the inter-bank and intra-bank factors affecting the efficiency of the banks is examined. According to the results, there is a negative significant relationship between fixed assets and bank efficiency, and there is a positive significant relationship between differences between realized and on account profit (as index of banks performance based on usury (interest) free banking law), capital and loan facilities with bank efficiency; In contrast, there is no significant statistical relationship between the number of branches and efficiency of the banks. Also inflation leads to efficiency reduction and GDP growth leads to efficiency enhancement of the banks. Therefore with the reform of the bank resource allocation to fixed assets and adjustment of bank size (number of branches), In addition to increasing the level of capital, promotion of loan facilities and performance based on usury (interest) free banking law, can significantly increase the efficiency of banks.

Article Type:
Research/Original Article
Journal Of Islamic Economics Studies, Volume:12 Issue:1, 2019
177 - 208  
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