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Customers Satisfaction in Malaysian Islamic Banking
'Ismah Osman,Husniyati Ali,Anizah Zainuddin,Wan Edura Wan Rashid
International Journal of Economics and Finance , 2009, DOI: 10.5539/ijef.v1n1p197
Abstract: The development of the Islamic banks in Malaysia is increasingly challenging with more conventional banks participating and offering banking products and services based on Islamic principles after two decades of its establishment. Thus, it is very important for the players in the Islamic banking industry to better position themselves in order to confront and respond vigorously to the robustness of the global financial environment. This study is embarked on to identify the relative significance assigned to selection criteria in deciding a bank that has an Islamic banking system. More importantly, it would evaluate customer preference of the choices of a bank that is adapted from CARTER model. Secondly, it would investigate service quality and customer satisfaction between the full-pledged Islamic banks and the conventional banks offering Islamic banking products and services. It is hoped that the study would facilitate the management of the banks in developing their marketing strategies which is very important for the survival of the bank specifically due to intense competition arising from the foreign banks.
Customers’ Perception on Islamic Retail Banking: A Comparative Analysis between the Urban and Rural Regions of Malaysia  [cached]
Seethaletchumy Thambiah,Uchenna Cyril Eze,Arul Jeganathan Santhapparaj,Kesavan Arumugam
International Journal of Business and Management , 2010, DOI: 10.5539/ijbm.v6n1p187
Abstract: Islamic banking was launched in Malaysia nearly three decades now, back in 1983. However, the market share of Islamic retail banking (IRB) still seemed to be relatively low. Therefore, the main aim of the present study is to analyze the difference in the awareness, perception, and preferences on IRB between the urban and rural banking customers of Malaysia. Hence, a comparative analysis was conducted based on 537 respondents representing both urban and rural regions of Malaysia. Results revealed that there is a significant difference in terms of awareness and on perceived complexity, uncertainty, and observablity. There also seem to be some variations for returns, loan repayment period, service charges, and overdraft facilities. Thus, the findings would be useful for the banking sector in understanding the customer perception and preferences concerning IRB, and to promote it strategically, and for the relevant authorities, in promoting specific regulations and policies that enhance the market share of IRB.
A Profile Analysis of the Customers of Islamic Banking in Peshawar, Pukhtunkhwa  [cached]
Syed Umar Farooq,Ghayur Ahmad,Syed Hassan Jamil
International Journal of Business and Management , 2010, DOI: 10.5539/ijbm.v5n11p106
Abstract: The call of giving all subscribers a greater opportunity in the Islamic banking systems is well documented in the literature of the first decade of this millennium. Many banks and financial institutions across the world have attempted to implement programs aiming at increasing the customer’s involvement in terms of investment and financing with varying degrees of success. The study describes the attributes and profiles of the Islamic banking subscribers. A list of attributes and characteristics of the clientele having access to credit was developed from the current literature to augment the process of identifying and selecting Islamic banks for the study. The potential Islamic banks were nominated by the panel of proficient academicians. Four branches of Islamic banks having the maximum subscribers and highest number of attributes observed during the visits were selected for site visits. Interviews were conducted with borrowers to gain an insight into the diverse avenues of banking habits of subscribers. Findings of the study are examined in relation to religious inclination of the subscribers and allied socio-demographic factors. The empirical results suggest that the regulators of the Islamic banking should concentrate on the demography of a location when it comes to establishment of a new branch. Branches should be opened at those places where the prospective clientele are well-educated and inclined towards the Islamic principles in order to tap the potential market. The aspirations and preferences of the educated class shall be taken into consideration and products and services should be designed in such a way to cater to the needs of the subscribers. Implications for the generalizations of practice should be carefully considered and further research is suggested.
PROSPECTS OF ISLAMIC BANKING: REFLECTIONS FROM PAKISTAN  [PDF]
Muhammad Akram,Mamoona Rafique,Hassan Mobeen Alam
Australian Journal of Business and Management Research , 2011,
Abstract: This study examines the growth and development phases as well as prospects of Islamic banking in Pakistan. The role of Islamic banking is explained with special regards to corporate social responsibility (CSR) as now days this concept is growing vastly. Awareness in public also has been growing and people are moving towards Islamic banking system. As we live in a Muslim country so it is very essential to have some basic knowledge about the Islamic banking. In this paper growth and performance of Islamic banking is discussed and compared among the financial years from 2003 to 2010 in terms of growth parameters like assets, deposits, sources and uses of funds. The performance indicators are also discussed to evaluate the growth and performance of Islamic banking system. In the last eight years, Islamic banking paved with the rapid market share of banking services. Moreover the efforts made by the central bank in Pakistan (SBP) are also remarkable in growth of Islamic banking. By seeing the present growth of Islamic banking, it is anticipated that in near future, Islamic banking with get major share in banking industry in Pakistan.
Customer Satisfaction and Islamic Banking in Pakistan  [cached]
Fouzia Ali,Hassan Raziq,Abdul Aleem,Shahrukh Latif
International Journal of Asian Social Science , 2011,
Abstract: Purpose-The purpose of this research study is to focus on the customer satisfactiontowards Islamic banking in Pakistan based on the different factors including servicequality, product quality offered by Islamic banks, customer care level of Islamic banks,financial benefits given to its customers, competition with conventional banks, religionand market reputation. Methodology- This study will help to understand the level ofsatisfaction of customers regarding Islamic Banks. In this study data was collectedwith the help of structured questionnaire having sample size 120 from different citiesof Pakistan. Different tests like T-test and Correlation were applied to check the effectsof different factors or variables mentioned above, on the customer satisfactionregarding Islamic banking system in Pakistan. Findings- From the statistical analysisby applying different tests, it is concluded that there is a positive relationship betweenfactors and customer satisfaction in Islamic banking in Pakistan, although there is lessawareness towards Islamic products but overall reputation of this sector is vested on itsinterest free factor which is prohibited in Islam. Moreover the trend of Islamic mode ofbanking is grooming due to the Islamic republic in Pakistan. Limitations- Limitationof this study is that data is collected from fewer numbers of respondents due to thediversification of population for banking services. People are more inclined towardsconventional banking, although these banks are providing Islamic banking servicesunder separate windows but still less awareness about Islamic banking is the mainproblem of users. Originality- This research study provides Islamic bankers with theidea of increasing their reputation by conducting different awareness campaignstowards Islamic banking and to bring diversification to be more innovative regardingtheir services in competition to conventional banks.
Islamic Banking Experience of Pakistan: Comparison between Islamic and Conventional Banks  [cached]
Ashfaq Ahmad,Kashif ur Rehman,Muhammad Iqbal Saif
International Journal of Business and Management , 2010, DOI: 10.5539/ijbm.v5n2p137
Abstract: This study examines the relationship between service quality and customer satisfaction regarding Islamic banks as well as conventional banks in Pakistan. It also investigated how service quality affects customer satisfaction by assessing the magnitude of the relationship between selected variables. This study is important due to an emerging trend of Islamic banking practices in Pakistan in the existence of conventional banking system. Data were collected from 720 bank customers by using stratified random sampling. The results reflect that there is strong positive relationship between service quality and customer satisfaction in case of Islamic banks as well as in case of conventional banks. Findings showed that there is stronger positive relationship between service quality and customer satisfaction in Islamic banks as compared to Conventional banks in Pakistan. The study has a number of implications for bankers, policy makers and academicians. Key words: Islamic Banking, Bank Customers, Service Quality, Customer Satisfaction,Pakistan, Conventional bank
Muslim consumers attitude towards islamic finance products in a non muslim country
Mohd. Effandi Yusoff,Ahmad Sharifuddin Shamsuddin
Jurnal Kemanusiaan , 2003,
Abstract: The focal point of Islamic banking is adhering to the Shariah Law, which prohibits the utilisation of Riba (interest). This banking approach has recently grown in popularity not only in Islamic countries, but has also embryonic in non-Muslim countries. Although these methods is not totally new or revolutionary as it has been written and practiced during the renaissance of the Islamic civilisation, it has yet to establish itself and be tested in the modern world as compared to the conventional banking. Muslims worldwide are still engaged in the "non-interest-free" system in financing their purchases especially those who are staying in the non-Muslim countries. There are many reasons why Muslims still engage in "non-interest-free" products. One of the reasons is the availability of Islamic financial product or non-interest bearing financial instruments offers by the banks. It is quite difficult to find such instruments, as most of them are not easy to get. To some extent, there are only few financial institutions which offer such products. This article attempts to examine the attitude of Muslims staying outside the Islamic world, particularly in the U.K., towards Islamic finance products and will explain whether there is demand for such products from the. It is found out that Muslims living in the U.K are very much willing to change their practices from indulging in the conventional system into the new system - the Islamic financial system.
Islamic Banking Marketing
Abdel Wadoud Moustafa Moursi El-Seoudi,Mohd. Nasran Mohamad,Amir Husin Mohd. Nor,Zaini Nasohah,Muhammad Nazir Alias,Nik Abdul Rahim Nik Abdul Ghani
Journal of Economics Theory , 2012, DOI: 10.3923/jeth.2012.61.65
Abstract: The Islamic banking marketing is regarded as one of the crucial factors for developing and success of these banks in the far-scope time. The Islamic banks succeeded to offer modern banking services which have been professionally marketed. Although, the conventional banks have preceded it in that filed, it succeeded in expressing the Islamic banking. The concept of marketing is considered to be modern to the Islamic banking industry for it relied on the Muslims Islamic sentiments in dealing with it. As to the present time, the competition enforced it to take much concern in that field.
An Analysis of Islamic Banking and Finance in West: From Lagging to Leading  [cached]
Ali Malik,Muhammad Shaukat Malik,Haider Shah
Asian Social Science , 2010, DOI: 10.5539/ass.v7n1p179
Abstract: The main purpose of this paper is to highlight the unprecedented growth of Islamic banking and finance in West with focus on United Kingdom. It captures the advancement of Islamic banking and finance in U.K over time It is observed that origin of Islamic finance in the UK can be traced back to early 1980s, however, real significant development was not made until the last decade of 20th century. The factors contributed to recent success of Islamic finance in UK include unprecedented Government support, fastest growing Muslim population, 9/11 factor, petro dollar wealth of Middle East etc. The future of Islamic finance in UK seems bright thought not without serious challenges. The potential size of industry suggests that Islamic finance will continue to be a darling of West for a long time to come.
Customer Satisfaction and Switching Behavior in Islamic Banking: Evidence from Indonesia  [PDF]
Muhamad Abduh,Salina Kassim,Zainurin Dahari
School of Doctoral Studies Journal , 2012,
Abstract: This study is aimed at investigating the dimensions of customer satisfaction in Indonesia Islamic banking industry and how those dimensions could affect the customers' switching behavior. Data collection is done by using self administered questionnaire and involves as many as 732 Islamic bank customers from the area of Jakarta. The methods used in this study are factor analysis and logistic regression model. Factor analysis has successfully uncovered the five dimensions of Indonesia Islamic banking customer satisfaction i.e. profitability, bank staff, accessibility, costs, and bank physical appearance. Afterwards, logistic regression evidences that four dimensions are significantly affecting Islamic bank customers' intention to switch namely bank staff, bank physical appearance, accessibility, and costs. Profitability is perceived less important by respondents with regard to bank-switching issues.
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