a comparative analysis of risk in conventional and usury- free banking within islamic contract framework

banks' major responsibility, as the largest financial intermediaries, is to provide and allocate resources. this activity has its own risks which cause banks to seek ways of preventing or transferring them to other places. islamic banks as substitutes of conventional banks in islamic countries have, in their turn, faced similar risks. in regard to new evolutions in banking industry and many countries' recourse to the islamic banking against conventional one, and the assumption that there is some remarkable difference between the two due to the existence of a legal system called islamic contracts, it is necessary to consider the state's supervision on them and compute risks and differentiate between different types of islamic contracts. this article, after reviewing researches done in the area of risk management in islamic banking, first examines risks' theoretical bases and the management of various risks in usury-free banking based on different ways of resource allocation. then research hypotheses are reviewed by using t statistical test. the results of this research imply that conventional and usury-free banking risks in iran don't show a significant difference except in liquidity risk and operational risk.