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Consumer Criteria for the Selection of an Islamic Bank: Evidence from Pakistan

Author

Listed:
  • Hasan, Syed Akif
  • Subhani, Muhammad Imtiaz
  • Osman, Ms. Amber

Abstract

Pakistan is a moderate Islamic country, and Karachi its Financial Hub. The Islamic banking industry has seen an enormous growth in the past ten years in the space of Pakistan. This study is intended to observe the criteria of Islamic bank selection for the diversified consumers of Karachi, Pakistani. Ten factors which include Convenience, Quality of services by banks, Religious motives of consumers , Availability of ATM, Privacy & Confidentiality, Bank reputation & Image, Variety in financing options, High profit & Low service charges, Recommendations from friends & family and Friendly & Responsive attitude of banking staff have been taken to investigate the consumer’s criteria for selecting Islamic banking. The findings suggest that High profit & Low service charges is the most important factor followed by Religious motives and Quality of Service for selecting Islamic banking by consumers.

Suggested Citation

  • Hasan, Syed Akif & Subhani, Muhammad Imtiaz & Osman, Ms. Amber, 2012. "Consumer Criteria for the Selection of an Islamic Bank: Evidence from Pakistan," MPRA Paper 40384, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:40384
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    File URL: https://mpra.ub.uni-muenchen.de/40384/1/MPRA_paper_40384.pdf
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    References listed on IDEAS

    as
    1. Chong, Beng Soon & Liu, Ming-Hua, 2009. "Islamic banking: Interest-free or interest-based?," Pacific-Basin Finance Journal, Elsevier, vol. 17(1), pages 125-144, January.
    2. Kun-ho Lee & Shakir Ullah, 2011. "Customers' attitude toward Islamic banking in Pakistan," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 4(2), pages 131-145, June.
    3. null Taib & T. Ramayah & Dzuljastri Abdul Razak, 2008. "Factors influencing intention to use diminishing partnership home financing," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 1(3), pages 235-248, August.
    4. Bashir, Abdel-Hameed M., 1999. "Risk And Profitability Measures In Islamic Banks: The Case Of Two Sudanese Banks," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 6, pages 1-24.
    5. Jasim Al-Ajmi & Hameeda Abo Hussain & Nadhem Al-Saleh, 2009. "Clients of conventional and Islamic banks in Bahrain: How they choose which bank to patronize," International Journal of Social Economics, Emerald Group Publishing, vol. 36(11), pages 1086-1112, September.
    6. Ayesha Hamid & Omar Masood, 2011. "Selection criteria for Islamic home financing: a case study of Pakistan," Qualitative Research in Financial Markets, Emerald Group Publishing, vol. 3(2), pages 117-130, June.
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    1. repec:wsi:rpbfmp:v:20:y:2017:i:02:n:s0219091517500096 is not listed on IDEAS

    More about this item

    Keywords

    Islamic banking; religious motives; banking industry;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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