A study on awareness of Islamic banking in India

Vibha Dua Satija and Himanshu Puri

International Journal of Trade and Global Markets, 2015, vol. 8, issue 3, 183-195

Abstract: Islamic banking is a system which is in consonance with the value system of Islam and is governed by the principles laid down by Islamic Shariah where interest-based transactions are prohibited. The potential for growth of Islamic finance is tremendous across the world and it is gradually flourishing in India as well. The present paper is an attempt to judge the awareness level of such system in India. Moreover, the study focuses on finding out the relationship between certain demographic factors and the level of awareness with respect to Islamic banking benefits and feasibility in India. The primary data have been collected and tested by using t-statistic. The result proves that many products and concepts of Islamic banking are not known to the respondents. Significant differences have been found between bankers and non-bankers as well as Muslims and non-Muslims regarding the benefits and feasibility of Islamic banking in India.

Keywords: Islamic banking; Shariah; Riba; banks; Muslims; India; awareness levels; Islamic finance; Islam; demographics; benefits; feasibility. (search for similar items in EconPapers)
Date: 2015
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