This study deals with the credit risk and the efficiency of the Islamic and conventional banks in 28 countries during the current crises. For this purpose, we take a sample of 99 Islamic banks and 110 classics during the 1999-2010 period. The generalized method of moments (GMM) is applied to measure the relationship of the credit risk, capital efficiency and banking industries during the current crises. The results show that most of conventional banks have a higher credit risk than the Islamic ones. This risk has a high impact on the exposure to the financial crises. The inefficiency degree of Islamic banks does not differ from that of the conventional ones.
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