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How popular is Islamic finance in the USA? Findings from Google Trends

Author

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  • Wesal M. Aldarabseh

    (Department of Finance and Economy, College of Business Administration, Taibah Univesity, Almadinah, Saudi Arabia)

Abstract

Islamic finance is a growing industry with global distribution in all continents including Europe and America. The aim of the current study was to examine how popular is Islamic finance in the USA during the period 2014-2019 using Google Trends. In addition, the interest in Islamic finance across different US states was also investigated. Using “Islamic finance” and “Islamic bank” as search terms in Goggle Trends, the trend curve showed decreases in search volumes, suggesting a decline in the popularity of Islamic finance in the USA with years. Search volumes were detected in seven out of 50 states, suggesting low interest in Islamic finance in the majority of US states. The order of the popularity in the seven states was: Virginia > New York > New Jersey > Illinois > Texas > California > Pennsylvania > Georgia > Florida > Massachusetts. The study used Google Trends to investigate the popularity of Islamic Finance in the USA. Therefore, future longitudinal survey studies are needed to confirm the present findings.

Suggested Citation

  • Wesal M. Aldarabseh, 2019. "How popular is Islamic finance in the USA? Findings from Google Trends," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 8(3), pages 58-65, July.
    • Handle: RePEc:rbs:ijfbss:v:8:y:2019:i:3:p:58-65
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    References listed on IDEAS

    as
    1. Mohd Ma’Sum Billah, 2019. "Islamic Financial Products," Springer Books, Springer, number 978-3-030-17624-2, June.
    2. Hyunyoung Choi & Hal Varian, 2012. "Predicting the Present with Google Trends," The Economic Record, The Economic Society of Australia, vol. 88(s1), pages 2-9, June.
    3. Shirley Chiu & Robin G. Newberger, 2006. "Islamic finance: meeting financial needs with faith based products," Profitwise, Federal Reserve Bank of Chicago, issue Feb, pages 8-14.
    4. Fredj Jawadi & Abdoulkarim Idi Cheffou & Nabila Jawadi & Wael Louhichi, 2016. "On the Reputation of Islamic Banks: a Panel Data Qualitative Econometrics Analysis," Open Economies Review, Springer, vol. 27(5), pages 987-998, November.
    5. Doumpos, Michael & Hasan, Iftekhar & Pasiouras, Fotios, 2017. "Bank overall financial strength: Islamic versus conventional banks," Economic Modelling, Elsevier, vol. 64(C), pages 513-523.
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