The future prospects of Islamic banking in Tunisia: an empirical survey

Echchabi, Abdelghani; Azouzi, Dhekra; Aziz, Hassanuddeen Abd.

doi:10.1108/emjb-03-2015-0018

Cited by 24 publications

(22 citation statements)

References 27 publications

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“…Among the interviewees, one of the interviewee (Interviewee 19) opined that: "[…] if we take out the basic factor of compliance with Shariah from the IB transactions, there is nothing except changed names and labels of IB products, so this single issue must be of paramount importance to all stakeholders including the service providers, practitioners, customers, Shariah supervisors and regulators". This was beyond doubt that the respondents had unequivocal stance about the significance of Shariah compliance as the most considerable feature of Islamic banking products and services and they regarded it as the most vital factor that the Islamic banking customers consider while deciding to deal with Islamic banks, as highlighted in the studies by Abduh and Omar, (2012); Shakir and Lee, (2012); Echchabi et al, (2016); and Ltifi et al, (2016).…”

Section: R M B Rmentioning

confidence: 97%

“…Apart from the religious element, customers are also interested in other banking features to select an Islamic bank including customer convenience, cost competitiveness, location, service quality, bank"s image and reputation. Shariah compliance being directly pertinent to the religious motive is one of the chief factors that the customers consider while deciding about which bank to choose, as highlighted by Abduh and Omar (2012); Shakir and Lee, (2012); Echchabi et al, (2016); and Ltifi et al, (2016). As per the findings of Shome et al (2018), Shariah compliance is especially more important for the customers in the countries and locations with predominantly Muslim populations and they consider the element of compliance with Shariah and its principles as most significant while dealing with the Islamic banks.…”

Section: Literature Reviewmentioning

confidence: 99%

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Islamic Banking Products, Services and Objectives: Perspectives of Shariah Supervisors and Regulators

Ali¹,

Hussain²

2021

IRMBR

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The study is aimed at assessing the opinions of vital Islamic banking stakeholders including members of various Islamic banking Shariah Supervisory Boards (SSBs) and pertinent personnel from Pakistan’s central bank – The State Bank of Pakistan (SBP). The research analyzes the percepts of respondents regarding various aspects relevant to Islamic banking (IB) products, service and objectives. The paper employs qualitative research approach in analyzing the Shariah and regulatory experts’ viewpoints regarding Islamic banking. The study is conducted using semi-structured interviews of twelve Shariah supervisors and nine SBP staff members serving in the Islamic banking department and Islamic banking focus groups in the regional/field offices of the State Bank of Pakistan. The study is of pioneering nature involving qualitative research design and inclusion of two of the most significant stakeholder groups from the Islamic banking sector of Pakistan who have not been included in the past studies regarding Islamic banking perceptions. The research findings highlighted that Shariah objectives are top priority of Islamic banks as per the views expressed by members of Shariah boards of various banks while in opinion of Islamic banking regulators, Islamic banks’ major concern is to achieve their business objectives. Keywords: Islamic Banking, Islamic Finance, Pakistan, Products, Perceptions, Shariah Compliance.

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Section: R M B Rmentioning

confidence: 97%

Section: Literature Reviewmentioning

confidence: 99%

Islamic Banking Products, Services and Objectives: Perspectives of Shariah Supervisors and Regulators

Ali¹,

Hussain²

2021

IRMBR

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“…Ex‐Presidents Bourguiba (1957‐87) and Ben Ali (1987‐2011) did not want the country to become an Islamic state or to follow Islamic political movements and Islamic ideas. Both the Bourguiba and Ben Ali regimes were oppressive toward Muslim groups and their aspirations (Echchabi, Azouzi, and Aziz 2016). As mentioned earlier, due to its inherent suspicion of the political vision of Islamic finance (Parks 2004) and the fear from widespread Islamic inspirations and movements, the Tunisian government has contained the development of Islamic banking.…”

Section: Political Islam In Tunisia and The Economic Agenda: What Is The Role Of Islamic Finance?mentioning

confidence: 99%

The Development of Islamic Finance in Tunisia after the Arab Spring: Does Political Islam Matter?

2021

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This study examines the impact of political transformation in Tunisia and the rise of Islamic political parties on people's perceptions toward developing the Islamic finance sector in the country. We assess the extent to which the future of Islamic finance in Tunisia could be related to political Islam or if political orientation could be detrimental to the development of the country's Islamic finance. Based on a survey distributed to 1,158 Tunisian citizens, we offer an insight into how political Islam has affected the development of Islamic finance in Tunisia. We find that: (1) political orientation does not appear to be a significant determinant of the acceptance of Islamic finance; (2) religious beliefs appear to be a significant determinant of the acceptance of Islamic finance; and (3) the future development of Islamic finance in Tunisia can be linked more precisely to the country's social transformation rather than the rise to power of Islamic political parties since the Arab Spring. Related Articles Antwi‐Boateng, Osman. 2015. “No Spring in Africa: How Sub‐Saharan Africa has Avoided the Arab Spring Phenomenon.” Politics & Policy 43 (5): 754‐784. https://doi.org/10.1111/polp.12129 Khodair, Amany Ahmed, Mostafa E. AboElsoud, and Mahmoud Khalifa. 2019. “The Role of Regional Media in Shaping Political Awareness of Youth: Evidence from Egypt.” Politics & Policy 47 (6): 1095‐1124. https://doi.org/10.1111/polp.12335 Sarquís, David J. 2012. “Democratization after the Arab Spring: The Case of Egypt's Political Transition.” Politics & Policy 40 (5): 871‐903. https://doi.org/10.1111/j.1747-1346.2012.00381.x

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“…In the context of Islamic insurance, social influence has 53% of the functionality and is effective and positive. People choose Islamic insurance because society expects it from them (Echchabi et al, 2016). SI contributes to consumer loyalty through references, family members, and friends (Badowska, 2017;Beldad & Hegner, 2018;Herawati & Tjahjono, 2020).…”

Section: Mediating Role Of Social Influence"mentioning

confidence: 99%

Determinants of Customer Perception about adoption of Islamic Insurance (Takaful) in Pakistan

Khan

Rashid

Yaqub

et al. 2020

JBSEE

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The purpose of this study is to assess the response level of individuals concerning Islamic Insurance in Pakistan and to measure its outreach and most pertinent factors affecting customer selection of Islamic Insurance. It also seeks to make informed recommendations on empowering frameworks for the establishment of Takaful insurance through relevant marketing campaigns in Pakistan. The impact of factors like Customer Awareness, Consumer Satisfaction, Risk Perception, Compatibility and Religiosity was checked on Adoption of Islamic Insurance in Pakistan, with the presence of Social Influence as a mediating variable. Data were collected through questionnaire administered to 300 respondents, representing the Muslim community from urban as well as rural areas, of Pakistan. Partial least square-structural equation modeling (PLS-SEM) through Smart PLS3 was used to examine the relationships among pertinent factors in this study. The findings suggest that most respondents are either not aware of Takaful as an insurance and investment option, or do not understand the concept altogether. This study suggests that Islamic insurance organizations should focus on awareness campaigns as an essential marketing strategy and dedicated resources to reach prime customer segments in general and fulfil the need to inform people about their products and services through clear understanding of principles of Shariah compliance. The findings of this research have important implications for Takaful companies as well as regulators and general insurance customers.

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The future prospects of Islamic banking in Tunisia: an empirical survey

Cited by 24 publications

References 27 publications

Islamic Banking Products, Services and Objectives: Perspectives of Shariah Supervisors and Regulators

Islamic Banking Products, Services and Objectives: Perspectives of Shariah Supervisors and Regulators

The Development of Islamic Finance in Tunisia after the Arab Spring: Does Political Islam Matter?

Determinants of Customer Perception about adoption of Islamic Insurance (Takaful) in Pakistan

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