A Gender based Analysis of Awareness Level and Willingness regarding Islamic Banking Products and Services: An Evidence from Pakistan

Shagufta Naveed,Muzammil Khurshid,Muhammad Azeem

doi:10.32350/jitc.101.10

Abstract

The objective of this study is to check the gender-wise awareness level and willingness regarding products and services of Islamic Banking in Pakistan. Islamic banking means a system in which banking operations and activities are defined by Islamic Jurisprudence.As Pakistan is a Muslim majority country, it is important to analyze the awareness level about Islamic Banking products and services. By using random sampling, a questionnaire was distributed to 300 men and women respondents from different cities of Pakistan to collect data. This study employed descriptive analysis and independent t-test to analyze the results.The study concluded that there is a lack of awareness of Islamic Banking products and services in both men and women.The study found that women exhibited a low level of awareness but they are more willing to move towards Islamic Banking products and services if the management of Islamic Banks properly guides and explains them the attributes of Islamic Banking products and services because they are keen toward religion as compared with men.

Highlights

Islamic Sharī‘ah is considered as the primary source for Muslims to spend their lives and day to day economic transactions
The study concludes that a lack of awareness of Islamic banking exists in both men and women respondents
This result is in line with the study of which concluded that the general lack of awareness of the features of Islamic Banking products.[21]

Summary

Introduction

Islamic Sharī‘ah is considered as the primary source for Muslims to spend their lives and day to day economic transactions. Under the Islamic Sharī‘ah, Interest (Riba) is not allowed and the working of Islamic Banking is based on Islamic Sharī‘ah and prohibition of interest.[1] Over the last three decades, Islamic Banking has evolved as an opportunity. A Gender-Based Analysis of Awareness Level for banking customers. The growing recognition of Islamic Banking has gained a suitable share in the banking industry. Even, it has got acceptance in Islamic countries and in western countries[2]. The conventional banking system is completely based on an interest which is prohibited in Islam. That’s why Muslims hesitate to invest in commercial banks and Islamic Banking provides them a suitable system that follows Islamic principles[3]

Objectives

Results

Conclusion