Bank employees’ perception of Islamic finance in a non-Islamic developing country: the case of Cameroon

Roméo Parfait Ngaha and Sabine Patricia Moungou Mbenda

Journal of Islamic Accounting and Business Research, 2023, vol. 15, issue 6, 897-910

Abstract: Purpose - The perception of Islamic finance by its various stakeholders is not always reconcilable. Its foundations and attributes are subject to a plurality of perceptions making it almost impossible to reach a consensus about them. This paper aims to understand the perception of Islamic finance by bank employees in Cameroon. Design/methodology/approach - This research follows the interpretativist paradigm and is qualitative and exploratory in nature. The data are collected through semi-structured face-to-face interviews with bank employees, mainly branch managers. These interview data are analysed using the thematic analysis method. Findings - Bank employees in Cameroon perceive Islamic finance as a finance that: targets everyone, regardless of religion, but Muslims first (Islamic finance is both inclusive and exclusive); offers original products and services; has a religious anchor that may hinder non-Muslim economic agents; has many advantages, mainly for financial institutions, and some limitations for financial institutions and their customers; is full of opportunities for its stakeholders; and is not yet fully practiced in Cameroon. Originality/value - This study mobilises a qualitative approach, provides new insights into the research on the perception of Islamic finance and reaches a consensus on the perception of certain aspects and attributes of Islamic finance, namely, for the perception of the target and the Shariah compliance of Islamic finance. Furthermore, this study is a pioneering effort to understand bank employees’ perception of Islamic finance in non-Islamic and developing countries where Islamic finance is underdeveloped.

Keywords: Perception; Islamic finance; Bank employees; Thematic analysis; Cameroon (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jiabrp:jiabr-06-2022-0142

DOI: 10.1108/JIABR-06-2022-0142

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