The influence of exogenous factors on the development of islamic and conventional banking systems: a review of modern theories and provisions

The article assesses the influence of exogenous factors on the development of Islamic and conventional banking systems, justifying the structural differences in their business models based on methods of resource allocation and profit distribution from financial activities, financing objectives considering moralethical components and Shariah principles, as well as specifics of regulation and control. Particular attention is paid to scientific and practical aspects of risk distribution in Islamic and conventional banking, considering regulatory constraints and peculiarities of financial performance formation during crises and under the influence of digitalization. The authors conclude that despite the higher resilience of Islamic banks to crisis phenomena compared to traditional banks, they exhibit more systemic vulnerability to cross-border effects of «financial contagion». Critical analysis of systemic provisions allowed the authors to refute the hypothesis about the autonomous functioning of Islamic banking within the global banking system, which manifests through mechanisms of exogenous shock transmission in the digital environment. The study systematizes directions for macroprudential regulation of Islamic and conventional banks related to establishing criteria for market interdependence and contagion factors, identifying potential channels for transmitting exogenous shocks, and improving supervisory response measures under conditions of systemic imbalances in the banking environment.