Islamic Banking Products || Study

Added on -2020-02-23

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Running Head: BUSINESS RESEARCH REPORTDeterminants of Acceptance of Islamic Banking Products and Services among students at theInternational University of Malay -Wales.Name of the studentName of the universityAuthor’s note
1BUSINESS RESEARCH REPORTTable of ContentsTheoretical Framework....................................................................................................................2Validity Test....................................................................................................................................4References........................................................................................................................................7
2BUSINESS RESEARCH REPORTTheoretical FrameworkThe current segment elucidates in detail the framework or the structure that can help insupporting the theory of this research study under consideration. Therefore, this theoreticalframework formally introduces and explicitly illustrates the theory that explains the reason whythe specific research problem under consideration exists (Seyed-Javadin et al., 2014). The present study shows that the concern is essentially determination of the primary factors thatlead to the acceptance of Islamic banking products as well as services among the students in atthe International University of Malaya, Wales. Awareness, comprehension and perception ofindividuals towards the Islamic banking products in Malaysia can help in building the attitudeand image of the individuals towards Islamic banking. In addition to this, availability of differentproducts as well as services together with religious obligation can be considered to be importantfactors that can be considered to be factors/determinants of acceptance of the said product.Founded on the review of the academic literature, it can be said that majority of individuals inMalaysia are not conscious of Islamic banking. Even they are conscious of Islamic banking theyexactly do not in fact understand the overall operations of Islamic banks (Lujja et al., 2016).However, comprehensible understanding of consumer awareness, understanding and perceptionscan assist the Islamic financial institutions to generate apt marketing stratagems to assume agreater share of the financial market. In essence, this is because awareness, understanding as wellas perceptions are necessarily the foundation of utilization of Islamic banking products as well asservices. Again, if people are not conscious and do not understand properly about differentIslamic banking products and they would not adopt initiative to adopt specific Islamic bankingproducts. Therefore, in a bid to attract more number of people to accept different products ofIslamic banking, it is feasible to go back to mainly the roots of the trouble that can help indetermination of factors that direct people to utilize Islamic banking products as well as services.Lujja et al., (2016) asserts that Islamic banks have to be make certain that their clients canunderstand their principles of operation otherwise the clients might have post-purchasedifference of opinion. In this study, it is imperative to understand the characteristics of Islamic banking that isgenerally referred to as the interest free banking else wise risk sharing banking. Islamic bankinghas developed and grown to different parts of the world and therefore is not limited to only thenations with majority of Muslim populations. Therefore, religious obligation is a very importantfactor that needs to be examined as an influencing factor behind acceptance of Islamic bankingproducts. Researchers have explored significant variances in opinion among different racestowards Islamic banking. Again, prior studies reveal that Islamic banking products have certaindifferences from the conventional ones as per the Shariah principle (Jinjiri Ringim, 2014).Therefore, consciousness as regards the varied products made available by these banks mightalso be considered as important factor behind acceptance of students in Malaysia. In addition tothis, prior studies also reflect different factors that help in developing the image as well asperception of individuals towards Islamic banking. It can hereby said that image as well as

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