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Ethical Value Propositions of Islamic Banking Products: A Phenomenological Inquiry of Relationship Managers Perspective

Author

Listed:
  • Muhammad Ashfaque

    (Institute of Management Sciences, Peshawar Khyber Pakhtunkhwa, Pakistan,)

  • Syed Mohsin Ali Shah

    (Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, Khyber Pakhtunkhwa 23200, Pakistan,)

  • Fahad Sultan

    (Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, Khyber Pakhtunkhwa 23200, Pakistan,)

  • Haider Khalil

    (Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, Khyber Pakhtunkhwa 23200, Pakistan,)

  • Arif Hussain

    (Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, Khyber Pakhtunkhwa 23200, Pakistan,)

  • Muhammad Khan

    (Department of Management Sciences, Abdul Wali Khan University, Mardan, Khyber Pakhtunkhwa 23200, Pakistan)

Abstract

This study investigates the concept of ethical value proposition. In traditional marketing theory value proposition is primarily derived from the tangible valuables goods in the economies, that is delivered through the service, which has termed goods as dominant factor of value creation. However recent studies contradicting this concept, they claim that not the goods, but service is the base and core source of value and that value is exchanged through tangible/goods. This emergent ethical value propositions provides an interesting research point to further explore the concept of ethical value propositions through relationship managers of Islamic banking perspective. A qualitative phenomenological research design and thematic analysis method has been used in this study to make sense of the experiences of 6 relationship managers about the concept. The data is collected based on purposive sampling technique which is analyzed using QSR NVIVO 12 plus software. Based on the findings of this study a novel framework of value creation cycle is developed that shows that the concept of ethical value propositions that Islamic banks offers are service based and the associated value delivery process. The competencies of bankers and customers are bases of the offered ethical value propositions. This article provides a deeper understanding of ethical value propositions of Islamic banking products using phenomenological inquiry, which has not been explored before.

Suggested Citation

  • Muhammad Ashfaque & Syed Mohsin Ali Shah & Fahad Sultan & Haider Khalil & Arif Hussain & Muhammad Khan, 2020. "Ethical Value Propositions of Islamic Banking Products: A Phenomenological Inquiry of Relationship Managers Perspective," International Review of Management and Marketing, Econjournals, vol. 10(2), pages 8-14.
    • Handle: RePEc:eco:journ3:2020-02-2
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    References listed on IDEAS

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    2. Vargo, Stephen L. & Lusch, Robert F., 2017. "Service-dominant logic 2025," International Journal of Research in Marketing, Elsevier, vol. 34(1), pages 46-67.
    3. Muhammad Abdurrahman Sadique, 2009. "Profit and Loss Allocation among Islamic Bank and Client Partner in Equity Financing: Practice, Precepts and Alternatives توزيع الأرباح والخسائر بين المصارف الإسلامية وعملاء تمويل المشاركة: المنطق وال," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 22(1), pages 145-168, January.
    4. Muhammad Khan & Hee Yong Lee & Jung Han Bae, 2019. "The Role of Transparency in Humanitarian Logistics," Sustainability, MDPI, vol. 11(7), pages 1-27, April.
    5. Uddin, Md Akther, 2015. "Principles of Islamic Finance: Prohibition of Riba, Gharar and Maysir," MPRA Paper 67711, University Library of Munich, Germany.
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    Cited by:

    1. Syed Fahad Ali Shah & Arif Hussain & Muhammad Khan & Julija Jacquemod & Zahir Shah, 2020. "Determinants of Systematic Risk in Commercial Banks of Pakistan," International Journal of Economics and Financial Issues, Econjournals, vol. 10(3), pages 125-129.
    2. Muhammad Sarmad & Naeem Ahmad & Muhammad Khan & Muhammad Irfan & Hajira Atta, 2020. "Investigating the Moderating Role of Trust between Social Media Capabilities and Consumer Brand Engagement Across Textile Sector of Pakistan," International Review of Management and Marketing, Econjournals, vol. 10(4), pages 53-62.

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    More about this item

    Keywords

    Ethics; Ethical Value Proposition; Islamic Banking Service;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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