A Comparative Analysis of Customer Awareness: Islamic vs. Conventional Banking Products in Pakistan
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Author:
UMAIS ANWER
Citable URI :
https://vspace.vu.edu.pk/detail.aspx?id=357
Publisher :
Virtual University
Date Issued:
7/5/2020 12:00:00 AM
Abstract
Customer awareness plays a pivotal role in developing perceptions about products and Islamic
banking products are no exception. This study was aimed at performing a comparative analysis of
customer awareness levels about Islamic banking products (IBPs) vs. conventional banking products
(CBPs) in Pakistan. A survey was conducted by using a structured questionnaire for this purpose,
with close-ended questions adapted from previous studies, using Convenience Sampling method. A
total of 285 responses were recorded from walk-in banking customers in both Islamic and
Conventional branches in the two cities of Lahore and Sialkot and the data was statistically
analyzed in SPSS using paired samples t-Test technique to determine if a statistically significant
difference existed in the awareness level towards IBPs and that of CBPs. Overall results show that
the awareness level of customers regarding IBPs was lower compared to CBPs. As regards the
specific products, awareness level of Musharakah and Ijara was lower than their CBP counterparts,
namely Joint Venture and leasing respectively. However, no significant difference was discovered in
the awareness level of Mudarabah and Murabaha in comparison to their conventional banking
counterparts, namely Passive Partnership and Deferred Payment Sale. The study will be assistive in
ascertaining the role of awareness in building a favorable perception about IBPs being Shariah
Compliant.
URI :
https://vspace.vu.edu.pk/details.aspx?id=357
Citation:
ANWER,U(2019),A Comparative Analysis of Customer Awareness: Islamic vs. Conventional Banking Products in Pakistan,VIRTUAL UNIVERSITY OF PAKISTAN.(Lahore,Pakistan).
Version :
Final Version
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