Consumer Criteria for the Selection of an Islamic Bank: Evidence from Pakistan

Syed Akif Hasan, Muhammad Imtiaz Subhani and Amber Osman
Authors registered in the RePEc Author Service: Muhammad Nayaz

MPRA Paper from University Library of Munich, Germany

Abstract: Pakistan is a moderate Islamic country, and Karachi its Financial Hub. The Islamic banking industry has seen an enormous growth in the past ten years in the space of Pakistan. This study is intended to observe the criteria of Islamic bank selection for the diversified consumers of Karachi, Pakistani. Ten factors which include Convenience, Quality of services by banks, Religious motives of consumers , Availability of ATM, Privacy & Confidentiality, Bank reputation & Image, Variety in financing options, High profit & Low service charges, Recommendations from friends & family and Friendly & Responsive attitude of banking staff have been taken to investigate the consumer’s criteria for selecting Islamic banking. The findings suggest that High profit & Low service charges is the most important factor followed by Religious motives and Quality of Service for selecting Islamic banking by consumers.

Keywords: Islamic banking; religious motives; banking industry (search for similar items in EconPapers)
JEL-codes: D11 G2 (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-cwa
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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