Abstract
Interest-free banking has become an inextricable part of economic development
around the world. Taking this into account, the study investigates customers'
perception of uses and awareness of various products of Islamic banks in
Bangladesh through a convenience sampling technique. The findings reveal that
despite the awareness of products such as mudarbah and musharaka, were not
used. It is further depicted that majority of the respondents simultaneously
operating their accounts with conventional and Islamic banks. It is due to
insufficient branches and unavailability of some products and services with
conventional banks across the country. In addition, religion is found to be the
most important aspect of clients for Islamic banking. Hence, the quality of service
and products must consistently be offered with the principles of interest-free
finance as well as with the facilities of the conventional banks. Most of the
customers are totally ignorant about interest-free products. The study suggests
that Islamic banks should give more emphasize on convincing the customers to
use interest-free products and services facilitating the growth of Islamic banks in
Bangladesh.
Md. Mahi Uddin, Mohammad Aktaruzzaman Khan, Kazi Deen Mohammad. (2015) Interest-Free Banking in Bangladesh: A Study on Customers' Perception of Uses and Awareness, Abasyn Journal of Social Sciences, Volume-08, Issue-1.
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