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Growth Prospects and Customer Expectations in Islamic Banking

Author

Listed:
  • Saqib Muneer
  • Muhammad Shahid Tufail
  • Ahsan Zubair

Abstract

Islamic Banking has gained enormous popularity in Pakistan in a short span of time and still has a huge potential to grow in the market. Many Conventional Banks having Islamic Banking windows and a few full-fledged Islamic banks are striving hard to remain alive in the stiff competition for market share, resulting in more banking choices for the customers. Still there is lot to be achieved and the whole banking system has to get rid of the curse in the form of Riba, which has strongly been denounced and prohibited in the Holy Quran. Islamic Banks at the moment hold merely 9.4% of the whole banking Market which is far below than desired. In this study, an attempt will be made to analyze the growth trends in the Islamic banking and its implications for the society and the economy in particular. Customers’ perceptions & expectations and certain myths regarding Islamic banking will also be captured during the study. This will not only help us in understanding the potential and opportunities available in the industry but also give an idea that what the customers want and expect from Islamic banking. Moreover, the study will also add to the latest pool of knowledge on the subject. There seems a dearth of updated quality research on the matter and this will serve as an important reference and latest work on Islamic Banking in Pakistan.

Suggested Citation

  • Saqib Muneer & Muhammad Shahid Tufail & Ahsan Zubair, 2017. "Growth Prospects and Customer Expectations in Islamic Banking," Information Management and Business Review, AMH International, vol. 9(2), pages 33-41.
    • Handle: RePEc:rnd:arimbr:v:9:y:2017:i:2:p:33-41
    DOI: 10.22610/imbr.v9i2.1721
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    References listed on IDEAS

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    1. Noor Ahmed Memon, 2007. "Islamic Banking: Present And Future Challenges," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 3(1), pages 1-10.
    2. Noor Ahmed Memon, 2007. "Islamic Banking: Present And Future Challenges," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 3(1), pages 3-1.
    3. Uhomoibhi Toni Aburime, 2009. "Impact of Political Affiliation on Bank Profitability in Nigeria," Journal of Global Economy, Research Centre for Social Sciences,Mumbai, India, vol. 5(3), pages 251-261, September.
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