This study investigates Electrostatic Ion Cyclotron (EIC) waves and their behaviour in weakly collisional plasmas, utilizing a proposed kinetic analytical model. The findings include alterations in EIC wave dispersion characteristics due to collisions, with parameters such as dust density, collision frequency, gyro-radius, magnetic field, density ratio, and electric field influencing wave growth rate and frequency. Temperature analysis reveals that higher electron-to-ion temperature ratios lead to increased frequency and critical drift velocity, while decreasing the growth rate. In addition, the critical drift velocity is studied for the unstable mode and it is observed that the relative density ratio increases with a reduction in critical drift velocity. Electron collisions destabilize EIC waves, while ion collisions stabilize them. Furthermore, the presence of dust particles decreases the growth rate of EIC waves as dust grain density increases. These results align with observations reported in previous literature.