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