Purpose-The purpose of this paper is to study the financial product innovativeness of Islamic financial institutions. Design/methodology/approach-A qualitative research methodology is used to collect and analyze the views of practitioners and researchers of Islamic finance. Different assessments are noted which raise the issue of lack of clarity on that subject. Findings-Innovation levels of Islamic financial institutions are low owing to the development of Islamic finance as a new activity. Research limitations/implications-The data available for the study are limited to the views of a small sample of practitioners and researchers in the field of Islamic finance. Practical implications-The major practical implication is the necessity of developing financial product innovativeness programs as a means for survival and growth. Originality/value-The paper demonstrates the value of Islamic financial product innovation within the wider context of product innovation.
Purpose This purpose of this paper is to clustering Kuwaiti consumers choice of Sharia-complaint financial products and services based on several factors such as religiosity, financial knowledge, customer value, satisfaction, trust, service quality, relationship with service providers and innovation. Design/methodology/approach The study uses self-organizing maps, a neural network technique, in order to cluster and segment consumers of Sharia-compliant financial products and services in Kuwait. From a marketing perspective, SOM can be viewed as a flexible clustering technique in which different clusters are identified without the rigid traditional statistical assumptions of linearity or normality. Findings This paper shows that consumers of Sharia-compliant financial products in Kuwait can be clustered into three distinct segments: enthusiasts, laggards and rejectors. The enthusiasts represent the largest cluster with a frequency of around 66 percent, while the Rejectors represent the smallest segment with a frequency of 10 percent. Originality/value This paper advances our knowledge about the behavioral aspects of financial consumer choice within a non-traditional Sharia-compliant financial products context.
<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none;" class="MsoNormal"><span style="color: black; font-size: 10pt; mso-themecolor: text1;"><span style="font-family: Times New Roman;">In recent years, an increasing worldwide interest in developing a competitive international financial center (IFC) raises the important issue of identifying the factors or elements of the investment climate of an IFC.<span style="mso-spacerun: yes;"> </span>Drawing on the theories and literature of financial intermediation, innovation, governance, social relationships, and information in IFCs, the authors develop five hypotheses and examine them using a survey of 20</span><a name="_GoBack"></a><span style="font-family: Times New Roman;">0 MBA students at a private university in Kuwait.<span style="mso-spacerun: yes;"> </span>The findings obtained from conducting a hierarchical linear regression indicate that finance and innovation are positively and significantly related to the investment climate in an IFC.<span style="mso-spacerun: yes;"> </span>Implications for theory and practice, and areas of further research are made.</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>
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