Determinants of Attitude and Intention towards Adoption of Islamic Finance among Small Businessmen of Rawalpindi and Islamabad

Abstract

Halal and Islamic Finance business sectors are Shariah-compliant and the values, principles and market they share with each other are very similar. In spite of these significant similarities, the connection between Halal sectors and Islamic finance is not very healthy. We can quote an example of Malaysia here, where this poor connection is comprehendible as the people from Halal industry adopt Islamic Financing at a very low rate. In order to become a real Halal business operator, the venture must be conscious about the adequate and halal means of financing as well apart only focusing upon the Halal production. Nevertheless, this phenomenon does not seem to be properly addressed. In order words, we can say the Holistic Halal concept should be adopted by mandatory integration of the Halal production with Islamic financing. This research aims to find the determinants the attitude and intention towards adoption of Islamic finance among ‘Small Businessmen’ through survey instruments.