Application of <i>tawarruq</i> in Islamic banking institutions in Somalia

Haron, Razali; Barre, Galad Mohamed

doi:10.1108/qrfm-02-2022-0028

Cited by 7 publications

(12 citation statements)

References 33 publications

(121 reference statements)

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“…Adapting the viewpoints of Saygılı et al (2022) and Raza et al (2019), attitude is the consumers’ attitude toward Islamic banks, in which a customer considers an Islamic bank is profitable and advantageous. Haron and Mohamed Barre (2023) research demonstrated a high correlation between customer views and aspirations to convert to Islam by using Islamic banks. The attitude of Muslim customers toward a product or service acts as an internal predictor that can influence specific intentions and behaviours (Lebdaoui et al , 2022; Pratama et al , 2023; Saygılı et al , 2022), such as adherence to Islamic principles by deciding to become a customer of an Islamic bank (Lebdaoui et al , 2022; Pratama et al , 2023; Mindra et al , 2022).…”

Section: Results and Analysismentioning

confidence: 96%

“…The previous findings gave a thorough understanding of the concepts and practise of Islamic finance, including a discussion of consumer behaviour in the context of Sharia compliance (Lebdaoui et al , 2022). Other studies shed light on the fundamentals of Islamic finance and the variables that influence customer behaviour in Islamic financial goods and services (Haron and Mohamed Barre, 2023). Several studies have analysed the elements affecting Islamic banking’s profitability, focusing on client behaviour in selecting Islamic banking services (Junaidi et al , 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

“…This study discussed Sharia compliance of Islamic banks based on profit margins for investment and examined the role of the Sharia supervisory board in Sharia compliance. Therefore, it is necessary to study the Sharia compliance behaviour of Islamic bank customers, and their compliance behaviour as they adhere to Islamic religious principles in contrast to customers in conventional banks, whose compliance is driven more by the purpose of earning bank interest (Haron and Mohamed Barre, 2023).…”

Section: Introductionmentioning

confidence: 99%

“…et al (2022) andRaza et al (2019), attitude is the consumers' attitude toward Islamic banks, in which a customer considers an Islamic bank is profitable and advantageous Haron and Mohamed Barre (2023). research demonstrated a high correlation between customer views and aspirations to convert to Islam by using Islamic banks.…”

mentioning

confidence: 99%

“…Barre (2023),Saygılı et al (2022),Lebdaoui et al (2022),Pratama et al (2023),Mindra et al (2022),Shahbaz et al (2022),Raza et al (2019) and Abid and Jie (2023) Subjective norm Rapi and Kassim (2023), Effendi et al (2020), Farhat et al (2019), Yusfiarto et al (2023), Lebdaoui et al (2022), Kasri et al (2023), Osman et al (2023) and Sadallah et al (2023) Perceived behavioural control Alzadjal et al (2021), Maduku and Mbeya (2023), Panggi et al (2022), Sadallah et al (2023), Kasri et al (2023), Gilal et al (2022), Purwanto et al (2022), Yusfiarto et al (2023) and Sadallah et al (2022) Islamic financial literacy Dinc et al (2023), Yeni et al (2023), Majid and Nugraha (2022), Abbas et al (2022), Alharbi et al (2021) and Muslihun (2023) Religiosity Shah et al (2023), Alharbi et al (2021), Samad et al (2022), Alzadjal et al (2021), Abror et al (2019), Mehboob Shaikh and Amin (2023), Wijaya et al (2023), Tegambwage and Kasoga (2023) and Hoque et al (2022) Consumer conformity Rahim et al (2023), Klabi and Binzafrah (2023), Colliander et al (2023), Alharbi et al (2021), Muslihun (2023) and Abdul-Jabbar and Bin-Nashwan (2022) Islamic branding Al-Awlaqi and Aamer (2022), Alharbi et al (2021), Dinc et al (2023), Faiza (2023), Kasri et al (2023), Shahbaz et al (2022), Ahmed et al (2022), Singkheeprapha et al (2022), Sukhabot and Jumani (2023), Hatta et al (2022), Aji and Muslichah (2022) and Junaidi et al (2022) Behavioural intention (continuous intention) Yeni et al (2023), Aslam et al (2022), Samad et al (2022), Shah et al (2023), Wijaya et al (2023), Baber and Billah (2022) and Hoque et al (2022)…”

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confidence: 99%

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A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

Andespa,

Yeni,

Fernando

et al. 2023

JIMA

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Purpose This study aims to investigate what past scholars have learned about Muslim consumer compliance behaviour in Islamic banks and identify what future research is needed. In addition, it also explores the relationship model between the previously studied determining factors and the customer’s Sharia compliance behaviour. Design/methodology/approach This study used a bibliometric–systematic literature review analysis using the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) technique by reviewing the articles published from 2013 to 2023. The PRISMA procedures involved several stages, including identification, screening, eligibility, analysis and conclusion based on the findings. Findings The results found that customer Sharia compliance behaviour determinants in Islamic banks are attitude, subjective norms, perceived behavioural control, Islamic financial literacy, religiosity, consumer conformity, Islamic branding and behavioural intention. Interestingly, the results indicated that such factors as consumer conformity, Islamic branding and sustainable intentions are less discussed. Practical implications Decision-makers in Islamic banks must use digital technology to offer better service and make operations more reachable for customers to access information, complete transactions and manage their accounts by Sharia principles. Therefore, the bank needs to continually produce innovative products and services so that customers have a greater variety of options to suit their Sharia-compliant financial needs. Theoretically, this study has contributed by finding the main critical domains influencing customers’ Sharia compliance behaviour, such as attitudes, subjective norms, perceptions of behavioural control, knowledge of Islamic finance, religiosity, consumer conformity, Islamic branding and behavioural intentions. Then, it makes a theoretical contribution by establishing a model that explains how customers make decisions based on Sharia-related factors in the context of their purchases. Originality/value Past studies focused on the Sharia compliance behaviour in paying Zakat for takaful customers. Therefore, this study provides critical factors of Sharia compliance behaviour on conformity, Islamic branding and sustainable intention regarding unexplored consensus on the determinants and outcomes of customer Sharia compliance behaviour of Islamic banking.

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Section: Results and Analysismentioning

confidence: 96%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

mentioning

confidence: 99%

mentioning

confidence: 99%

See 3 more Smart Citations

A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

Andespa,

Yeni,

Fernando

et al. 2023

JIMA

View full text Add to dashboard Cite

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Consumer behavior in Islamic banking: a systematic literature review and agenda for future research

R.V.,

Annamalai,

Chandrasekaran

2024

JIMA

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Purpose This study aims to conduct a systematic literature review on consumer behavior (CB) in Islamic banking (IB), encompassing an overview of researched contexts and topics, identifying literature gaps and proposing a comprehensive future research agenda. Design/methodology/approach By using bibliometric citation and content analysis, this study investigates 135 documents sourced from Scopus indexed publications. Findings This study delves into the growing field of CB in IB, offering a comprehensive understanding that encompasses influential journals, theories, research context, characteristics and methods used in IB research. Originality/value To the best of the authors’ knowledge, this study is the first to provide a comprehensive review of CB studies in the IB domain detailing research topics, prevailing theories, research settings, important variables and research methods.

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Regulatory constraints, responsibilities and consultation (CRC) for legal institutionalization of cryptocurrencies in Pakistan

Khan,

Ullah,

Atiq

2023

QRFM

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Purpose This study aims to synthesize the existing literature with insights gained from interviews conducted with regulatory experts. The objective is to analyse the challenges associated with incorporating cryptocurrencies into regulatory frameworks and to explore constraints in the regulatory institutionalization of cryptocurrencies. Design/methodology/approach The study methodology consists of two steps. The first step is to identify regulatory constraints in the literature review and in the next step, interviews are conducted with officials of the State Bank of Pakistan (SBP). The study used a qualitative case study methodology, in which a single case (regulatory constraint) was selected as a unit of analysis. Findings The findings show that lack of traceability, legal status, lack of governmental control due to decentralization, difficulty enforcing laws, volatility, lack of skills with regulators and difficulty integrating cryptocurrencies into the current financial system are the main obstacles to the introduction of a regulatory framework. Thus, on a broader conceptual level, the findings can be grouped into opportunism, lack of strategic capability and fragmented global laws. Research limitations/implications This study could inform global cryptocurrency regulation discussions, sharing a developing country’s views on balancing the government, central banks, the financial sector and public interests. This could guide countries to consider cryptocurrency adoption in similar situations. This could affect the cryptocurrency market, impacting demand, supply and investor trust in Pakistan. Practical implications The study has implications for policy making officials. The research aims to offer valuable insights to the SBP and other regulatory authorities, helping them identify potential risks and create an effective regulatory framework for cryptocurrencies. Social implications The study has implications for society in knowing about the volatile nature of cryptos and anonymity of their issuers, which poses regulatory constraints. This then implies its harmfullness to its traders and the huge losses that may arise from their trading due to its volatile nature. Originality/value This study contributes to the literature on the constraints, responsibilities and consultation framework of cryptocurrency regulations.

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Application of tawarruq in Islamic banking institutions in Somalia

Cited by 7 publications

References 33 publications

A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

A systematic review of customer Sharia compliance behaviour in Islamic banks: determinants and behavioural intention

Consumer behavior in Islamic banking: a systematic literature review and agenda for future research

Regulatory constraints, responsibilities and consultation (CRC) for legal institutionalization of cryptocurrencies in Pakistan

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