A Study on Customers Awareness of Islamic Banking Scheme: Hong Leong Finance Bhd.

Daud, Rozain (1999) A Study on Customers Awareness of Islamic Banking Scheme: Hong Leong Finance Bhd. Masters project report, Universiti Pertanian Malaysia.

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Abstract

In Malaysia, Bank Islam Malaysia Bhd is the first Islamic bank in this country and it is still the only one Islamic bank. Realizing the need of the Muslims to transact in an interest-free environment and allowable under the syari'ah, the government through its banking system regulatory arm, Bank Negara Malaysia had allowed the conventional banks to have Islamic banking services parallel to the conventional system. The system so far has proceeded effectively and have gained tremendous response from the public, Muslims and non-Muslims. This study is aimed at identifying the awareness among the customers o f Hong Leong Finance Bhd as to the factors that encouraged them to have an Islamic banking account, and also to those that have not opened an Islamic banking facility, the reasons for them not opening one. The study revealed that the main factors that influence them are the 1) profit sharing concept 2) It' s free of Rib a' or interest 3) It has both loans and deposits services 4) the profit sharing rate is fair. Besides, it is also available to all and they are aware that only certain financial institutions offers Islamic banking scheme. Factors that influence the customers not opening the accounts are 1) the products were not attractive 2) not much variety of products 3)not much publicity/promotions. The secondary factor is that they are satisfied with the conventional banking.

Item Type:Project Paper Report
Subject:Hong Leong Finance Bhd.
Subject:Banks and banking - Religious aspects - Islam
Chairman Supervisor:Dr. Mohamad Ali Bin Abdul Hamid
Call Number:GSM 1999 28
Faculty or Institute:Graduate School of Management
ID Code:7921
Deposited By: Nurul Hayatie Hashim
Deposited On:30 Sep 2010 07:57
Last Modified:29 May 2012 01:54

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