Persuasion in Islamic finance

Azmat, Saad; Ali, Haiqa; Brown, Kym; Skully, Michael T.

doi:10.1177/0312896220926556

Cited by 10 publications

(5 citation statements)

References 32 publications

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“…(Alam 2015). Similarly, Azmat et al (2019) have emphasized the need for studies on how to persuade customers to adopt Islamic finance? With this critique in mind, we provide a review of the growing literature, which we have categorized into several themes, as summarized in Figure 1.…”

Section: Islamic Financial Service Sectormentioning

confidence: 99%

Marketing Islamic Financial Services: A Review, Critique, and Agenda for Future Research

Alam

Seifzadeh

2020

JRFM

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Islamic finance has experienced rapid growth globally, surpassing the USD 2 trillion mark in 2017. As a result, the literature related to Islamic finance and banking is rather rich. Despite the richness of the literature, our knowledge of the marketing issues related to Islamic finance is modest and somewhat ambiguous. Therefore, we review several decades of research about the Islamic finance in various parts of the world. We identify and discuss three main research themes that draw on different conceptualization and theoretical lenses. After synthesizing their respective findings, we propose several avenues for future research that integrate these three research themes with the goal of developing a more nuanced understanding of Islamic finance and its marketing. While we believe that our review will mainly serve as a crucial reinvigoration and launch point for future research on Islamic finance marketing, it is also of great practical benefit for policymakers of various countries and especially managers of financial service firms interested in marketing Islamic banking and financial services to their customers.

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Section: Islamic Financial Service Sectormentioning

confidence: 99%

Marketing Islamic Financial Services: A Review, Critique, and Agenda for Future Research

Alam

Seifzadeh

2020

JRFM

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“…Few studies report a lack of awareness toward Islamic finance and consider it as a major impediment for its growth. Recently, Azmat et al (2020) proposed the theoretical model of “coarse thinking” to persuade any potential customer to adopt Islamic financial services. Coarse thinking includes analogies and metaphors, which help individuals to assess a particular item based on the analogies already existing in their mind.…”

Section: Resultsmentioning

confidence: 99%

Influential and intellectual structure of Islamic finance: a bibliometric review

Alshater

Hassan

Khan

et al. 2020

IMEFM

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Purpose Islamic finance is an alternative approach of financial intermediation based on risk-sharing and asset-backed operations, which evolved substantially in recent years in academic research raising the need for quantitative studies to address the intellectual development and scientific performance of this field. This study aims to provide quantitative statistics and comprehensive review of the key influential and intellectual structure of Islamic finance literature. Design/methodology/approach The authors apply the trending and cutting-edge quali-quantitative approach of bibliometric citation analysis. This study reviews 1,940 English studies and review papers published in scientific journals indexed by the Scopus database from 1983 to 2019. RStudio, VOSviewer and Excel’s software are used to analyze the collected data and apply the bibliometric tests. Findings The results identify the leading academic authors, journals, institutions and countries with relation to Islamic finance. The authors also propose six main research themes in this field, which are as follows: Islamic finance – fundamentals, growth and legitimacy; customer’s attitude and perception toward Islamic finance; accounting and social reporting of Islamic finance; performance and risk management of Islamic finance; Islamic financial markets; and efficiency of Islamic financial institutions. Lastly, the authors identify research gaps in the existing Islamic finance literature and present 24 future research directions. Research limitations/implications The data in this study is confined only to the Scopus database of English papers and reviews. It also considers papers directly related to the field of Islamic finance. Originality/value To the best of the authors’ knowledge, this paper is one of the first to address the literature of Islamic finance from a bibliometric aspect. The results of this study along with future research questions will help researchers and practitioners to further explore and stand on firm quantitative bases regarding the scientific development of Islamic finance.

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“…Examples include individuals who forego home loans based on religious beliefs (Borchgrevink and Birkvad, 2022), often sacrificing an improved quality of life. Although some customers may perceive the use of Islamic finance terminology in marketing as more Islamic (Azmat et al. , 2021), it could also potentially make others feel that they may not have the ability to understand such complexities, leading to not taking up such IBF offerings, including IHLs.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Home loans and Muslims – an Australian perspective

Jeffrey,

Pires,

Rosenberger Iii

2024

JIMA

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Purpose This study aims to investigate how Australian Muslims make consumption-related decisions regarding the purchase of home loan products. Design/methodology/approach This exploratory research used in-depth semistructured interviews with community leaders from leading Muslim ethnic communities. Seventeen community leaders from the six largest Muslim community groups by country of birth and living in Melbourne and Sydney were selected for the interviews. The interview data was analyzed using NVivo 12. Findings The findings suggest that despite knowledge of and concern for Islamic tenets regarding the consumption of banking and financial products, including home loans, most Muslims viewed conventional home loans (CHL) as being permitted, essential or innocuous. Reasons for such views include the interpretation of Islamic tenets, limited awareness of available Islamic home loan offerings, convenience factors related to accessing CHL offerings, service quality levels, availability of technology-based services such as internet banking, and the influence of social groups and communities. Research limitations/implications This research helps marketers understand the attitudes, subjective norms (SN) and behavioral factors related to the Muslim consumption of home loans. Practical implications The findings of this research can facilitate the development of financial products and marketing strategies that better appeal to Muslims. Such loan products can improve the uptake of home loans (and, in effect, homeowners) by Muslims, potentially improving social and financial inclusion. Social implications This research helps marketers understand the attitudes, SNs and behavioral factors related to the Muslim consumption of home loans, which can facilitate the development of financial products and marketing strategies that better appeal to Muslims. Such loan products can improve the uptake of home loans (and, in effect, homeowners) by Muslims, potentially improving social and financial inclusion. Originality/value This qualitative study explores the drivers of Muslim consumers’ uptake of home loans in Australia. Drawing upon the theory of planned behavior and the literature, antecedents to attitude, SNs and perceived behavioral control that influence intention and behavior were investigated. It identifies factors influencing decision-making related to home loans by Australian Muslims, contributing to a theoretical framework to investigate Muslims’ consumption of financial products.

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Persuasion in Islamic finance

Cited by 10 publications

References 32 publications

Marketing Islamic Financial Services: A Review, Critique, and Agenda for Future Research

Marketing Islamic Financial Services: A Review, Critique, and Agenda for Future Research

Influential and intellectual structure of Islamic finance: a bibliometric review

Home loans and Muslims – an Australian perspective

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