Interest- free banking: reasons for choosing Islamic banking in Bingol city

Antara

2020

JIMA

Purpose The Islamic banking system is not very primordial, but recently it is getting popular. Now it becomes a prominent topic to investigate what are the reasons behind it and how it happens. This study aims to identify the influencing factors in the time of opening account in Islamic banks. Design/methodology/approach A descriptive and factor analysis method were carried out to collect the quantitative data using a validated structured questionnaire. This study is based on a survey of 300 clients from Bangladesh who have at least one bank account in any Islamic banks in Bangladesh. Findings The findings of the study revealed that the most important factors influencing the people to open an account in Islamic banks including high Riba (Interest) on saving, ATM facility, confirmation SMS on the transaction, availability of branch service in several locations, lower cost on financing (loan), low initial deposit fee for account opening, employees’ prompt service and their behavior, etc. Also, the other religious people, rather than Islam, start a banking relationship with Islamic banks without any obligation. Research limitations/implications The study focused only on a certain area of Bangladesh. This study could be extended for a different target market, creative strategy, other media and more countries. Practical implications The paper provides guidelines to the management of Islamic banks to decide to attract more customers by focusing on the influencing factors that manipulate a person to open a bank account. Originality/value The research is original. There are very few studies available on this topic, particularly focusing on Bangladesh. Consequently, the research findings have significant implications for Islamic banks functioning in a predominantly Islamic atmosphere.

Section: Extrinsic and Intrinsic Attributes That Influence A Customer To Use Islamic Banksmentioning

confidence: 99%

Section: Socio-demographic Influencing Factorsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

The determinants of opening account with Islamic banks

Antara

2020

JIMA

“…So that efforts to make efforts aimed at avoiding the problem of usury began to be implemented. The term regarding the perception of usury is so alive in the Islamic world (Aslan, 2017). Therefore, it seems as if about usury once his life is typical of Islam.…”

Section: Introductionmentioning

confidence: 99%

Riba in The Perspective of Sharia Bank Customers: A Systematic Literature Review

Ulama’i¹,

Rahmawati²,

Din³

2022

velocity

This study aims to determine the Islamic bank customers to the understanding of usury. This type of research is literature review research. The type of data collected in this study is primary data, namely data obtained from various current and relevant literature regarding the level of understanding of Islamic bank customers about usury, such as from books, journals, articles, papers, and other related reading sources. The data analysis technique of this research was carried out using the data analysis technique of the Miles and Huberman model. The data analysis activities of this model include data reduction, data display and conclusion drawing or verification. The results of a systematic literature review found that usury is an additional take, both in buying and selling transactions and lending and borrowing in vanity. The prohibition of usury in the Qur’an was revealed in stages, preceded by a series of moral teachings relevant to the theme of the prohibition of usury. Conventional banks use the interest system to support their operations. In contrast to the interest system prevailing in conventional banks, Islamic banks determine the amount of return and profit sharing based on the amount of profit sharing between the customer and the bank without determining the percentage that must be paid by the customer. Bank interest is an evolution of the concept of usury that cannot be separated from the development of financial institutions. Riba in modern banking makes business decline and become unproductive. Education and religion can be used as the basis for mu’amalah for all mankind, especially Muslims. Islamic education can lead humans to become individuals who are able to survive in this world and the hereafter (al-falah). Education about usury provides important information that can be a guide for human life in contemporary mu’amalah.

“…Participation/Islamicbanks :Kuveyt, Ziraat, Turkiyefinans and Vakifare new banks and the oldest one is the Turkey Finans bank. Bingöl city is a growing city with its conservative life style as stated by Aslan (2017). The religious considerationsof staffs and costumers have been changing with new banking styles.…”

Section: Introductionmentioning

confidence: 99%

Measuring Job Satisfaction, Performance Criteria and Job Life Quality: Bingol City Banking Case

Aslan

2017

COES&RJ-JBM

Self Cite

Job satisfaction, performance and quality of life have strong effects on each other. Happy workers are to perform higher productivity and have less stress in their daily life.Two different studies in 2016 were applied to banks in Bingol city/Turkey to learn the level of job satisfaction,performancecriteria and life quality of workers. 42 surveys were applied to determine job satisfaction and expectations and evaluation ofperformance criteria factors. Second survey were applied 19 workers to learn the life quality of workers. Descriptive statistics (means and frequency methods), t-test and Kruskal Wallis methods are applied to analyze data. The average age of staffs is in young period with 2500-3500 TL(₺) average salary and they have 3-8 years bank experience mainly. High salary and job security are the main expectations of workers. Talking freely and discussing issues with 9.19 mean is found to be the most important item with managers according priority of workers as a part of job satisfaction. The physical working conditions and other opportunitiesoffered by the bank and wages are the worst items with lowest scores. Younger workers thinks that they get more feedback about their work while older people getting not enough feedbacks. About 15.8% of them see themselves in a kind of depression and just 36.8% of them are happy according to second survey.Complying with working hours, well-suited appearance and relationships with managers are most effective factors for performance.