Monetary and Price Shocks in Islamic Banking: A Systematic Review of Resilience
DOI:
https://doi.org/10.61987/jsse.v3i2.1294Keywords:
Macroeconomic Shocks, Islamic Banking Resilience, Monetary Policy Transmission, Comparative Thematic SynthesisAbstract
Macroeconomic volatility threatens financial intermediation through monetary conditions, production costs, and household purchasing power. Islamic banks operate under Sharia-compliant contracts but remain exposed to pressures within dual banking systems. This study synthesizes how monetary and price shocks shape Islamic banking resilience through distinct transmission mechanisms. A systematic literature review is designed using database searches, eligibility screening, and structured evidence extraction. Comparative thematic synthesis integrates studies across shock types, institutional settings, and resilience indicators. The preliminary synthesis suggests that interest-rate changes can reach Islamic banks indirectly through competition for funding and financing adjustments. Liquidity conditions may amplify or mitigate this exposure. Producer-price disturbances potentially affect business margins, working capital, and corporate repayment capacity. Consumer-price pressures may alter household purchasing power, savings, and retail financing risks. These pathways should not be assumed to generate identical outcomes. Institutional resilience also depends on capital buffers, financing structures, governance, and risk management. Shock absorption, adaptation, and recovery represent complementary dimensions of resilience. The proposed framework contributes a conditional account of macroeconomic transmission beyond contractual classifications. It offers policymakers and banks a basis for differentiated risk monitoring, subject to confirmation through systematic screening and synthesis.
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