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Factors influencing the adoption of Islamic banking product: a review of literature

Abdullahi, Abdurrahman and Othman, Anwar Hasan Abdullah and Kassim, Salina (2021) Factors influencing the adoption of Islamic banking product: a review of literature. In: The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries. Lecture Notes in Networks and Systems, 194 (194). Springer International Publishing, Nature Switzerland AG, pp. 1717-1733. ISBN 978-3-030-69220-9

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The aim of this paper is to review empirical studies that examined the factors influencing the adoption of Islamic banking products and services with a view to making suggestions to the stakeholders in the Islamic finance services industry (IFSI) in Nigeria. The paper employed the literature review methodology to synthesize research findings in the study area. Most of the studies reviewed showed that Attitude, subjective norms and perceived behavioral control positively and significantly influence the use of Islamic banking products. Others influencing factors include knowledge, awareness, compatibility, religiosity and perceived government support. The paper recommended that Islamic banks in Nigeria should develop robust marketing strategies that will boost the beliefs and attitudes of consumers of banking services, at the same time decreasing their perceived risks. In addition, they should increase customers’ awareness through effective communication, as well as develop low cost Islamic financial products that will improve competitiveness.

Item Type: Book Chapter
Additional Information: 8713/88880
Uncontrolled Keywords: Islamic banking; Islamic banking products; Behavioral theories; Nigeria
Subjects: H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Asst.Prof Anwar Hasan Abdullah Othman
Date Deposited: 30 Mar 2021 18:02
Last Modified: 06 May 2021 12:16
URI: http://irep.iium.edu.my/id/eprint/88880

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