ISLAMIC FINANCIAL PRODUCT DEVELOPMENT IN THE PAKISTAN: SHARIAH ANALYSIS (Published)
Islamic banking as well as financial institutions should be able to anticipate the needs of the marketplace and also rotate available Islamic financial services prior to conventional products to make sure continual progress and also competitiveness regarding Islamic banking and also financial options. Nonetheless, Islamic bank as well as financial products tended to replicate the typical versions, causing these products dropping worth as well as leading to some distress inside their meaning. Hence, a conceptual research study will be conducted for the growth & development of Islamic financial product from Shariah perspective. Even so, this specific research aims to handle the actual Shariah aspect of Islamic financial product development in addition to focus on the problems developing in the process according to secondary sources. The actual output of this research ought to bring about the actual progression associated with process of Islamic financial product development, in particular in the Shariah aspect, as it is the majority of imperative tool for that Islamic banking institutions in order to meet the increasing concern about profitability, liquidity, asset value, risk management, along with product acceptability. The study aspires to talk about the Fiqh muamalat self-discipline that may offer enough places with regard to creating Islamic products or service development, a place by which Islamic financial institutions should emphasize their means.
Keywords: Islamic banking, Islamic finance, Pakistan, Product development, Shariah analysis
CONSUMER BEHAVIOUR TOWARDS ISLAMIC BANKING IN PAKISTAN (Published)
Islamic banking is one of the most developing sectors in Pakistan. This study reveals the relationship between consumer behavior towards bank selection criteria and customer satisfaction. For this purpose, data was collected from a sample of 200 consumers in different Islamic bank in Multan through a structured questionnaire containing 30 questions. SPSS 17 has been used for data analysis. Correlation and regression analysis, ordinary least square (OLS ) method was use to find out relationship among independent variables( religion, high profit &low service charges, influence of friends & family, service quality, responsive attitude of staff ,mass media & bank image) and dependent variable (customer satisfaction). The findings show positive and significant relationship among all variables and customer satisfaction partially mediates the relationship between independent variables and dependent variables. We conclude that customers’ satisfaction is increasing day after day and their commitment is strong with the Islamic banks.
Keywords: Bank selection, Customer Satisfaction, Islamic banking