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Factors influencing home refinancing decision among muslim customers

The objective of this study is to determine the factors influencing home refinancing among Muslim customers in Malaysia. For conventional banks, the common reasons are interest rate and monthly payment reduction of the loan. However, these reasons might not be applicable for bank customers who refin...

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Main Authors: N.M., Ramli,, Muhamed, N.A.,, Aziz, S.A, Yaakub, N.A.,
Format: Article
Language:en_US
Published: 2015
Subjects:
Home refinancing
Islamic banks
Muslim customers
Online Access:http://ddms.usim.edu.my/handle/123456789/8801
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spelling my.usim-88012017-02-23T03:40:57Z Factors influencing home refinancing decision among muslim customers N.M., Ramli, Muhamed, N.A., Aziz, S.A Yaakub, N.A., Home refinancing Islamic banks Muslim customers The objective of this study is to determine the factors influencing home refinancing among Muslim customers in Malaysia. For conventional banks, the common reasons are interest rate and monthly payment reduction of the loan. However, these reasons might not be applicable for bank customers who refinanced their loans by switching from conventional to Islamic home refinancing schemes. The study distributed 150 survey questionnaires for Muslim bank customers at 11 states and Federal Territory of Kuala Lumpur in February to March 2011. The findings indicated that reasons for refinancing were fluctuation of home financing profit rate, reduction of maturity period and monthly payment, good services of new banks and awareness among respondents to align their belief with their daily financial and economic practices. This study enhances the understanding of academics, scholars and bankers on factors influencing home refinancing activities, especially among Muslim customers in Malaysia. It is suggested that the future research can be done to compare home refinancing activities with the real changes in profit rates. 2015-07-14T01:04:47Z 2015-07-14T01:04:47Z 2013 Article 19909233 http://ddms.usim.edu.my/handle/123456789/8801 en_US
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language en_US
topic Home refinancing
Islamic banks
Muslim customers
spellingShingle Home refinancing
Islamic banks
Muslim customers
N.M., Ramli,
Muhamed, N.A.,
Aziz, S.A
Yaakub, N.A.,
Factors influencing home refinancing decision among muslim customers
description The objective of this study is to determine the factors influencing home refinancing among Muslim customers in Malaysia. For conventional banks, the common reasons are interest rate and monthly payment reduction of the loan. However, these reasons might not be applicable for bank customers who refinanced their loans by switching from conventional to Islamic home refinancing schemes. The study distributed 150 survey questionnaires for Muslim bank customers at 11 states and Federal Territory of Kuala Lumpur in February to March 2011. The findings indicated that reasons for refinancing were fluctuation of home financing profit rate, reduction of maturity period and monthly payment, good services of new banks and awareness among respondents to align their belief with their daily financial and economic practices. This study enhances the understanding of academics, scholars and bankers on factors influencing home refinancing activities, especially among Muslim customers in Malaysia. It is suggested that the future research can be done to compare home refinancing activities with the real changes in profit rates.
format Article
author N.M., Ramli,
Muhamed, N.A.,
Aziz, S.A
Yaakub, N.A.,
author_facet N.M., Ramli,
Muhamed, N.A.,
Aziz, S.A
Yaakub, N.A.,
author_sort N.M., Ramli,
title Factors influencing home refinancing decision among muslim customers
title_short Factors influencing home refinancing decision among muslim customers
title_full Factors influencing home refinancing decision among muslim customers
title_fullStr Factors influencing home refinancing decision among muslim customers
title_full_unstemmed Factors influencing home refinancing decision among muslim customers
title_sort factors influencing home refinancing decision among muslim customers
publishDate 2015
url http://ddms.usim.edu.my/handle/123456789/8801
_version_ 1645152476501901312
score 13.222552

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