Disclosure of Risks and Opportunities in the Integrated Reports of South African Banks

Ramabulana, Khuthadzo; Moosa, Riyad

doi:10.3390/jrfm15120551

Cited by 3 publications

(3 citation statements)

References 47 publications

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“…Islamic banking is committed to applying Sharia which is not a requirement in conventional banking (Chapra, 1986;Echchabi & Aziz, 2014). While the risks faced by both Islamic and conventional banks are similar (Ramabulana & Moosa, 2022), non-compliance with the Sharia is a unique risk for the Islamic bank. An Islamic bank is a profit-making entity that collects funds from depositors and invests them into profitable ventures in the same way as conventional banking; however, the two systems are not similar (Cham, 2018;Kamarulzaman & Madun, 2013;Hefner, 2006), as evidenced by the different types of contracts used in each business (Kontot et al, 2016).…”

Section: Islamic Bank Vis-à-vis Conventional Bankingmentioning

confidence: 99%

Customer Selection Criteria: Islamic Banks in South Africa

Moosa¹,

Marx²

2023

J. Professional Business Review

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Purpose: The purpose of this study is to investigate the selection criteria of customers in South Africa and to examine these criteria with respect to gender. Theoretical framework: This study is conducted taking into an account an Islamic worldview that is guided by Sharia (Islamic law). Design/Methodology/Approach: A quantitative approach to data analysis was used to meet the purpose of the study. The location of the study is South Africa. The population of interest were customers at Islamic banks who identified as being Muslim. An online survey was used to collect data based non-probability sampling techniques. The final sample used for data analysis consisted of 163 valid responses from Muslims throughout South Africa. Data was analyzed based on mean analysis and an independent sample t-test. Findings: The results indicate that “religious reasons only”, “Islamic reputation and image” the “economic and financial reputation” and having an “involvement in the community” are the selection criteria considered to be most important by both males and females. The criteria least considered by respondents when selecting an Islamic bank relates to “wide range of facilities offered”, “friend use this type of bank” and “higher rates of return offered”. The results also suggest that there are no significant differences in the selection criteria of customers based on gender when choosing an Islamic bank. Research, Practical & Social implications: These results can be used by management of Islamic banks in South Africa in designing policies and launching campaigns to attract new customers and retain existing customers. Originality/Value: This is the first study to consider the role of gender as it relates to the selection criteria of customers at Islamic banks in South Africa.

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Section: Islamic Bank Vis-à-vis Conventional Bankingmentioning

confidence: 99%

Customer Selection Criteria: Islamic Banks in South Africa

Moosa¹,

Marx²

2023

J. Professional Business Review

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“…Some basic economic principles that render Islamic banking different from conventional banking include the prohibition of interest, profit and loss sharing, asset-backed transactions, and trading in permissible industries (Tlemsani 2010). Consequently, non-compliance with the Sharia creates an additional risk, which is not in conventional banking (Ginena 2013;Ramabulana and Moosa 2022). The emergence of Islamic accounting stems from the need to report information that takes account of Sharia requirements and other disclosures for investment account holders, hence the need for an Islamic accounting standard setter to be established (Saidani et al 2021;Salman 2022).…”

Section: Introductionmentioning

confidence: 99%

An Overview of Islamic Accounting: The Murabaha Contract

Moosa

2023

JRFM

Self Cite

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The purpose of this study is to consider the events leading to the development of modern accounting standards for Islamic banks and, thereafter, to consider the accounting process and related impact on the financial statements for the Murabaha contract. A qualitative review of the available literature was conducted to meet this purpose. First, the influence of culture on accounting is considered, and after that, the historical development of Islamic accounting is explored. Next, the modern development in Islamic accounting is explained. The discussion then summarizes the contracts used by Islamic banks, with a particular focus on the Murabaha contract as it is the most widely used contract. The structure of the Murabaha contract is detailed, along with the criticisms found in the literature. Thereafter, the accounting treatment of the Murabaha contract is highlighted, followed by a simulation to illustrate the accounting process and its impact on the financial statements. This study contributes to the debate about the need for Islamic accounting standards as it relates to Islamic financial institutions.

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“…There is an accumulating body of knowledge within the South African context shedding light on the study of Islamic banking, and the different risk profile for this type of banking when compared to conventional banking (see, Kholvadia, 2017;Moosa 2018;Moosa 2022a;Moosa 2022cMoosa et al, 2021aMoosa et al, 2021b;Ramabulana & Moosa, 2022). More specifically, studies focusing specifically on customers have considered factors such as customer engagement, customer selection criteria, customer awareness, customer satisfaction and customer loyalty (Moosa 2022b;Moosa and Kashiramka, 2022;Moosa and Marx, 2023;Moosa, 2023Roberts-Lombard 2020.…”

Section: Introductionmentioning

confidence: 99%

Service Quality Preferences Among Customers at Islamic Banks in South Africa

Moosa

2023

J. Professional Business Review

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Purpose: The objective of this study is to investigate the service quality preferences of Muslim customers considering demographic factors, specifically gender preferences. Theoretical framework: This study is guided by the dimensions in the SERVQUAL model including an additional dimension related to ‘compliance’ from the Carter Model. Design/Methodology/Approach: A quantitative, cross-sectional study was carried out to examine the preferences of customers concerning service quality at Islamic banks in South Africa. The data was analysed using descriptive and inferential statistics. Findings: The findings from the study show that ‘convenient operating times’, ‘providing prompt service to customers’, ‘having records that are accurate and without errors’, ‘staff keep to promises when timeframes are given regarding services to be complete’, ‘keeping customer information confidential’ ‘staff having the best interest of customers in mind’ and finally ‘the Islamic bank does not take interest on loans given’ are the most important items for both males and females regarding the various dimensions of service quality. The reported results also show no significant difference when it comes to service quality preferences between males and females. Research, Practical & Social implications: The results of this study have several practical implications. Firstly, Islamic banks can increase their market share by tailoring the quality of their service offerings to align with customer preferences. Secondly, Islamic banks should include as part of their advertising campaigns, the specific service quality offering most appealing to customers. Lastly, initiatives towards improving service quality should not be directed to a specific gender, rather initiatives must be inclusive of all customers, as the results of this study found no difference in service quality preferences regarding gender. Originality/Value: This is the first study to consider the role of gender concerning service quality preferences by customers of Islamic banks in South Africa.

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Disclosure of Risks and Opportunities in the Integrated Reports of South African Banks

Cited by 3 publications

References 47 publications

Customer Selection Criteria: Islamic Banks in South Africa

Customer Selection Criteria: Islamic Banks in South Africa

An Overview of Islamic Accounting: The Murabaha Contract

Service Quality Preferences Among Customers at Islamic Banks in South Africa

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