Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks

It is undeniable that the impressive growth and development of Islamic financial institutions in Malaysia is due to the fact that Malaysian government put in place an effective and comprehensive legal framework. 2013, was a landmark in Malaysia Islamic financial service industry, where Malaysia par...

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Main Author:	Gaani, Ismail Ahmed Ali
Format:	Thesis
Language:	eng eng
Published:	2015
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/4956/1/s815714.pdf https://etd.uum.edu.my/4956/2/s815714_abstract.pdf
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id	my-uum-etd.4956
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Ahmed, Umar
topic	HG Finance
spellingShingle	HG Finance Gaani, Ismail Ahmed Ali Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks
description	It is undeniable that the impressive growth and development of Islamic financial institutions in Malaysia is due to the fact that Malaysian government put in place an effective and comprehensive legal framework. 2013, was a landmark in Malaysia Islamic financial service industry, where Malaysia parliament enacted Islamic Financial Service Act (IFSA) that ensures shariah compliant, financial stability and protect the rights and interest of financial consumers. Under IFSA, Islamic banks should use only mudarabah in their investment accounts. Therefore, the overall aim of this study is to examine the perceptions of Islamic banks customers on the concept, applications and implications of mudarabah (profit sharing) contract. The study has used a survey, where questionnaires were distributed to 200 respondents. Descriptive statistics, factor analysis, independent t-test and ANOVA were used in data analysis. The results of factor analysis reveal that highly level of awareness among customers on the concept of mudarabah, its applications in Islamic banking products and services; and its implications to customers, for e.g. in the form of offering high returns positively influence customers perception towards mudarabah related products and services. In other words, the more the customers are informed about the concept of mudarabah, its application in banking products and its implication to them, the more positive perception they have towards mudarabah related products and services. In addition, the independent t-test and ANOVA results reveal that there are no significant difference between gender, race, marital status, and job sectors in relation to the level of their awareness towards mudarabah contract. However there are significant different between customer‟s level of education and level of income and customer‟s perception towards mudarabah related products. Meaning the highly educated and highincome respondents are more aware about the concept of mudarabah, its applications and implications. These in turns positively influence their perception towards mudarabah related products and services. Therefore, policy makers and financial institutions should find ways to increase on the level of awareness of customers on the concept of mudarabah, its applications and implications. BNM should issue effective guidelines for Islamic banks to explain to customers the concept, applications and implications of any contract before offering the products to the customers. Bankers should educate their customers on various Islamic contracts they used so that the customers become fully aware on their concept, applications and implications before subscribing to any Islamic banking products and services
format	Thesis
qualification_name	masters
qualification_level	Master's degree
author	Gaani, Ismail Ahmed Ali
author_facet	Gaani, Ismail Ahmed Ali
author_sort	Gaani, Ismail Ahmed Ali
title	Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks
title_short	Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks
title_full	Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks
title_fullStr	Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks
title_full_unstemmed	Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks
title_sort	examining the perception of islamic banks customers in kedah state on the mudarabah contract and its application by islamic banks
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2015
url	https://etd.uum.edu.my/4956/1/s815714.pdf https://etd.uum.edu.my/4956/2/s815714_abstract.pdf
_version_	1747827834843299840
spelling	my-uum-etd.49562021-03-18T07:05:30Z Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks 2015 Gaani, Ismail Ahmed Ali Ahmed, Umar Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance It is undeniable that the impressive growth and development of Islamic financial institutions in Malaysia is due to the fact that Malaysian government put in place an effective and comprehensive legal framework. 2013, was a landmark in Malaysia Islamic financial service industry, where Malaysia parliament enacted Islamic Financial Service Act (IFSA) that ensures shariah compliant, financial stability and protect the rights and interest of financial consumers. Under IFSA, Islamic banks should use only mudarabah in their investment accounts. Therefore, the overall aim of this study is to examine the perceptions of Islamic banks customers on the concept, applications and implications of mudarabah (profit sharing) contract. The study has used a survey, where questionnaires were distributed to 200 respondents. Descriptive statistics, factor analysis, independent t-test and ANOVA were used in data analysis. The results of factor analysis reveal that highly level of awareness among customers on the concept of mudarabah, its applications in Islamic banking products and services; and its implications to customers, for e.g. in the form of offering high returns positively influence customers perception towards mudarabah related products and services. In other words, the more the customers are informed about the concept of mudarabah, its application in banking products and its implication to them, the more positive perception they have towards mudarabah related products and services. In addition, the independent t-test and ANOVA results reveal that there are no significant difference between gender, race, marital status, and job sectors in relation to the level of their awareness towards mudarabah contract. However there are significant different between customer‟s level of education and level of income and customer‟s perception towards mudarabah related products. Meaning the highly educated and highincome respondents are more aware about the concept of mudarabah, its applications and implications. These in turns positively influence their perception towards mudarabah related products and services. Therefore, policy makers and financial institutions should find ways to increase on the level of awareness of customers on the concept of mudarabah, its applications and implications. BNM should issue effective guidelines for Islamic banks to explain to customers the concept, applications and implications of any contract before offering the products to the customers. Bankers should educate their customers on various Islamic contracts they used so that the customers become fully aware on their concept, applications and implications before subscribing to any Islamic banking products and services 2015 Thesis https://etd.uum.edu.my/4956/ https://etd.uum.edu.my/4956/1/s815714.pdf text eng public https://etd.uum.edu.my/4956/2/s815714_abstract.pdf text eng public masters masters Universiti Utara Malaysia AAOIFI. (2004). Shari'a Standard (2004-5 ed.). Manama: Accounting and Auditing Organization for Islamic Financial Institution. Abdelkader, Chachi.(2006). Thirty Years of Islamic Banking: History, Performance and Prospects J.KAU: Islamic Economic, 19(1): 37-39. Abdul Ghafar Ismail (2010). Money, Islamic Banks and the Real Economy. Singapore: Cengage Learning. Abdullah, Nurdianawati Irwani. (2005). Islamic Hire-Purchase in Malaysian Financial Institutions : A Comparative Analytical Study. Unpublished Thesis(Ph.D.), Loughborough University, Loughborough. 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Examining the perception of Islamic banks customers in Kedah state on the Mudarabah contract and its application by Islamic banks

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