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Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services

Islamic financial institutions (IFI) that are governed by sharī‘ah principles are expected to have inherently strong ethical roots such as promoting justice and avoiding any illegal and unethical elements. Hence, ethics has become a vital component in order to provide “value” for consumers. Indeed,...

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Main Authors: Musa, Muhammad Adli, Ahmad, Nadzrah
Format: Monograph
Language:English
Published: IIUM Press, International Islamic University Malaysia 2018
Subjects:
BJ1725 Ethics of social groups, classes, etc. Professional ethics
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/69774/1/Final%20Report%20-%20Adli.pdf
http://irep.iium.edu.my/69774/
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spelling my.iium.irep.697742019-01-17T06:31:03Z http://irep.iium.edu.my/69774/ Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services Musa, Muhammad Adli Ahmad, Nadzrah BJ1725 Ethics of social groups, classes, etc. Professional ethics HG3368 Islamic Banking and Finance Islamic financial institutions (IFI) that are governed by sharī‘ah principles are expected to have inherently strong ethical roots such as promoting justice and avoiding any illegal and unethical elements. Hence, ethics has become a vital component in order to provide “value” for consumers. Indeed, there are numerous Qur’Énic injunctions and Prophetic traditions concerning ethical principles pertaining to Islamic finance, particularly those related to the ethics of business transactions. This research emphasises Islamic revealed guidance by compiling the Qur’Énic verses related to financial transactions using selected exegeses (tafasÊr). Furthermore, this research also focuses on how consumers perceive the ethicality of products and services offered by IFIs. It delineates the importance of ethical finance and the need for Islamic banking to align with ethical banking. Meanwhile, a quantitative research methodological approach was adopted in this study by utilising a structured questionnaire comprised of close-ended questions. The questionnaire was distributed among IIUM academic and administrative staff. The research findings show that the majority of respondents had a positive perception of the ethicality of Islamic finance products and services. This study also found that Islamic banking should formulate strategies to educate and offer unique products and services differentiated by underlying ethical values to increase its appeal to customers. The findings also suggest that ethics could be considered as a factor that encourages patronage of IFIs. Thus, this research is expected to assist IFIs to demonstrate their commitment and efforts in providing added value to customers. IIUM Press, International Islamic University Malaysia 2018-12 Monograph NonPeerReviewed application/pdf en http://irep.iium.edu.my/69774/1/Final%20Report%20-%20Adli.pdf Musa, Muhammad Adli and Ahmad, Nadzrah (2018) Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services. Project Report. IIUM Press, International Islamic University Malaysia, Kuala Lumpur. (Unpublished)
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic BJ1725 Ethics of social groups, classes, etc. Professional ethics
HG3368 Islamic Banking and Finance
spellingShingle BJ1725 Ethics of social groups, classes, etc. Professional ethics
HG3368 Islamic Banking and Finance
Musa, Muhammad Adli
Ahmad, Nadzrah
Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services
description Islamic financial institutions (IFI) that are governed by sharī‘ah principles are expected to have inherently strong ethical roots such as promoting justice and avoiding any illegal and unethical elements. Hence, ethics has become a vital component in order to provide “value” for consumers. Indeed, there are numerous Qur’Énic injunctions and Prophetic traditions concerning ethical principles pertaining to Islamic finance, particularly those related to the ethics of business transactions. This research emphasises Islamic revealed guidance by compiling the Qur’Énic verses related to financial transactions using selected exegeses (tafasÊr). Furthermore, this research also focuses on how consumers perceive the ethicality of products and services offered by IFIs. It delineates the importance of ethical finance and the need for Islamic banking to align with ethical banking. Meanwhile, a quantitative research methodological approach was adopted in this study by utilising a structured questionnaire comprised of close-ended questions. The questionnaire was distributed among IIUM academic and administrative staff. The research findings show that the majority of respondents had a positive perception of the ethicality of Islamic finance products and services. This study also found that Islamic banking should formulate strategies to educate and offer unique products and services differentiated by underlying ethical values to increase its appeal to customers. The findings also suggest that ethics could be considered as a factor that encourages patronage of IFIs. Thus, this research is expected to assist IFIs to demonstrate their commitment and efforts in providing added value to customers.
format Monograph
author Musa, Muhammad Adli
Ahmad, Nadzrah
author_facet Musa, Muhammad Adli
Ahmad, Nadzrah
author_sort Musa, Muhammad Adli
title Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services
title_short Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services
title_full Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services
title_fullStr Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services
title_full_unstemmed Acquirement of consumer perception on the ethicality and Islamicness of Islamic finance products and services
title_sort acquirement of consumer perception on the ethicality and islamicness of islamic finance products and services
publisher IIUM Press, International Islamic University Malaysia
publishDate 2018
url http://irep.iium.edu.my/69774/1/Final%20Report%20-%20Adli.pdf
http://irep.iium.edu.my/69774/
_version_ 1643618914772451328
score 13.211869

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