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Their mission and distinction from the conventional banking sector could also be their salvation.
Microcredit has shown how you can reach out to people that conventional banking cannot.
Islamic finance differs from conventional banking systems in that usury and speculation are prohibited.
That, and the current financial turmoil, has rendered them distrustful of conventional banking.
And it believes conventional banking supervision must remain a sovereign responsibility.
In effect, it gives shadow banking something like the regulatory regime we already have for conventional banking.
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Unlike conventional bank accounts, money funds have no government guarantees.
One reason, many say, was a mistrust of conventional banks.
Conventional banks have added internet banking, mobile banking and even video banking to their offering.
In effect, debts of shadow banks, like deposits at conventional banks, now have a government guarantee.
Its stock performance, though often choppy, has far outpaced gains by conventional banks lately.
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