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Customer Awareness and Its Satisfaction About Islamic Banking

Prof Dr Abdul Ghafoor Awan
By Prof Dr Abdul Ghafoor Awan
3 months ago
Customer Awareness and Its Satisfaction About Islamic Banking

Hibah, Ijara, Islamic banking, Murabaha, Shariah, Provision

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  1. Global Journal of Management , Social Sciences and Humanities Vol 5 (3) July-August, 2019 pp. 521-540. ISSN 2520-7113 (Print), ISSN 2520-7121 (Online) www.gjmsweb.com. Email:editor@gjmsweb.com Impact Factor value = 4.739 (SJIF). DOI: https://orcid.org/0000-0001-5767-6229 521 CUSTOMER AWARENESS AND ITS SATISFACTION ABOUT ISLAMIC BANKING Prof. Dr. Abdul Ghafoor Awan1, Sobia Arshad2 ABSTRACT-This study analyzes the customer awareness and its satisfaction about Islamic banking. The idea of Islamic banking is not a new. Islamic banking has become popular throughout world and it expanding rapidly. The objective of this paper is to study customer awareness and satisfaction about Islamic banking. For this purpose, we collected primary data through a structure questionnaire. About 200 questionnaires were distributed among the respondents selected through random sampling out which 156 were found correct and included in this analysis. During sampling process, we consider age, education level, gender, religion, level of income and occupation of the customers of Islamic Banks. 5-points Likert Scale used to draw the results, which reveal the customers have sufficient awareness about the products of Islamic Banks but they are unable to understand fully their Arabic meaning of these products. Key word: Islamic banking, customer satisfaction, customer awareness, Conventional Banking. Type of study: Original Research paper Paper received: 15.04.209 Paper accepted: 05.06.2019 Online published: 01.07.2019 ___________________________________________________________________ 1. Dean, Faculty of Management and Social Sciences, Institute of Southern Punjab. drabdulghafoorawan@gmail.com. Cell # +923136015051, 2. M. Phil scholar, Department of Economics, Institute of Southern Punjab. sobia.arshad3311@gmail.com.
  2. 522 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ 1 .INTRODUCTION: 1.1 Background of the Study: Islamic Banking was introduced in 20th Century and it is not a new one. It was introduced because there was its need for th Muslim customers who wanted the financial institutions that fulfilled their need and demands according to Islamic Shari’ah. The main sources of Shari’ah are the Holy Quran, Sunna, Qiyas and Ijtihad. commercial banking is completely based on interest system, which not allowed in Islamic Shari’ah principals. Therefore, Muslim needs Islamic banking for their financial dealings. (Gait and Worthington, 2007) Islamic banking was initiated in Pakistan through changing the operation of specialized investment organizations like National Investment Trust (NIT), Investment Corporation of Pakistan (ICP), and House Building Finance Corporation (HBFC) in July 1, 1979 and in mid of 1980s the commercial banks were directed to carry on business on profit and loss basis. More than 40 modarba companies were launch at Karachi stock exchange and dozens of leasing companies started business on Islamic principle Ijarah (Leasing). In November 1991 Federal Shariat Court declared interest as illegal and prohibited commercial banks to charge it. However, it was later stayed by the Supreme Court of Pakistan. The Commission for Transformation of Financial system set up in the State Bank of Pakistan recommended to phase out interest-based system in August 2001. In 2001 Al-Meezan Investment Bank was accorded first license of full-fledged Islamic Commercial Bank to start the business in Pakistan. It was the milestone of the initiation of Islamic Banking in Pakistan. Later on, State Bank of Pakistan also granted licenses to Al-Baraka Islamic Bank, Dawood Islamic Bank, Bank Islami Pakistan, Dubai Islamic Bank and Emirate Islamic Bank to start banking on Shariah basis. 1.2 Statement of Problem Islamic banking is growing rapidly in Pakistan and branches of Islamic banks have grown exponentially during last 15 years. We have intended to study
  3. Customer Awareness and its satisfaction about Islamic Banking 523 whether the customers of Islamic banks are fully aware of the products and satisfy about the services of Islamic banks . 1.3. Objective of the Study: The objectives of study are outlined in the following: ► To examine the role of Islamic Banks in Pakistan. ► To measure the perception of Muslims and non-Muslims in Pakistan about Islamic banking. ► To investigate the customer satisfaction and awareness about Islamic Banking ► To make suggestions how to improve the services and awareness of Islamic banks. 1.4 Research Questions: On the basis of the above objectives of the study the main research questions of this research study are stated as under: ● Are the Muslims in Pakistan aware of Islamic Banking products and services? ● Are the Muslims in Pakistan understood about the basic principles of Islamic banking? ● What are the perceptions of Muslims in Pakistan towards Islamic banking? ● Are the demographic factors (age, religions, education, occupation, income) influences the awareness of Islamic Banking products and services among Muslims in Pakistan? 1.5 Significant of the Research The scope if this study is wide because Islamic banking and its customers base as well as its products and services are expanding rapidly. The results of this study will be beneficial for Islamic bankers, policy makers and researchers. 2. LITERATURE REVIEW: Okumus (2005) worked on customer satisfaction about interest free banking system and banks selection criterion. In this study the awareness, satisfaction and Special finance houses (SFHs) as well as conventional banks’ inputs were used for analysis. This study suggested that the customers must be educated about the products of Islamic banks.
  4. 524 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ Awan (2009) carried out comparative study of Islamic and conventional banking in Pakistan and concluded that Islamic Banks have substantial growth potential because of people’ anti-interest approach. Gait (2009) worked on Libyan attitudes towards Islamic modes of finance: An empirical analysis of retail consumers, business firms and banks was carried out. In this study he used survey method and collected data of 385 retail consumers, 296 business firms and 134 bank managers. He concluded that awareness is developing about Islamic banking in Libiya.. Awan and Azhar (2014) conducted study on the customers’ behavior towards Islamic banking in Pakistan. They used primary data in this study and ratio analysis was used to draw the results. They concluded that the customers’ behavior towards Islamic banking is positive and they are availing their services happily. Ahmad et al. (2010) explored the conventional and Islamic banking in Pakistan. In this research They studied public Sectors or commercial banks, local private banks, foreign banks, and specialized banks. They estimated that all public sector banks showed god performance because of Government protection and low level of competition. They suggested that the government should provide level playing field to private Islamic banks vis-à-vis public sector and private commercial banks. Ling et al. (2012) examined the customer awareness of Islamic banking among Muslim in Malaysia. In this study they used the ANOVA test and correlation analysis. They pleaded that education must be important for awareness of the customers. When people of Malaysia were educated then understanding in relation to Islamic banking will be goods. Shabbir et al. (2012) explored the quality services of Islamic and non-Islamic banks operating in Pakistan. In this study they used the questionnaire for data analysis. They compared the quality of services of Islamic and conventional banks. They emphasized that Islamic bank should use latest technology o improve their services and to compete with conventional banks in an efficient way.
  5. Customer Awareness and its satisfaction about Islamic Banking 525 3 . RRESEARCH METHODOLOGY 3.1 Nature of Research 3.1. Design of study: This study is quantitative in nature because we use both primary and secondary data. Primary data was collected through questionnaire from a randomly selected respondent while secondary data was taken from financial statements of Islamic Banks, Islamic Banking Department of the State Bank of Pakistan and database of Pakistan Stock Exchange. The data was collected through interviews and field survey methods. 3.2 Sample of study 200 questionnaires were get filled but out of the 156 were found correct for analysis. So this analysis is based on 156 respondents. The respondents are those who are working with Islamic banks in different cities of Pakistan. The questionnaires were get filled from the respondents after explaining purpose of study. 3.4 Analytical techniques: A Likert Scale is scales applied to measure the approach in which the respondents are inquire to show the level of agreement or disagreement with the statement linked to the objects. The aim of a Likert scale is to identify the attitude of community towards the given object by inquiring them the degree to which they agree or disagree with them. 4. DATA ANALYSIS: 4.1 Descriptive Analysis The descriptive statistics of the study are presented in the table 1. Descriptive statistics consists of procedures used to summarize and describe the characteristics of a set of data. The table consists of Age, Religion, Education level, monthly Income and occupation of respondents.
  6. 526 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ Table 1 : Respondents Demographic Profile Age Gender Religion Educational Level Occupation Monthly Income 20 or less Frequency Percent 17 5.1 21-30 years 56 48.1 31-40 years 50 35.9 41-50 years 25 5.8 50 and above 8 5.1 Male 124 51.3 Female 76 48.7 Muslims 154 98.7 Non-Muslims 2 1.3 Less than high school 8 5.1 High school 25 16 Bachelor Degree 60 38.5 Master 43 27.6 Professional 20 12.8 Self employed 59 37.8 Private sector employee 69 44.2 Govt. sector employee 23 14.7 Retired. 5 3.2 5001- 10000 28 17.9 10001-15000 19 12.2 15001-20000 35 22.4 20001-30000 25 16 30001 and above 49 31.4 Source: Results calculated by authors.
  7. Customer Awareness and its satisfaction about Islamic Banking 527 4 .2 Characteristics of Customers: It is very important to think about the customers of Islamic Banking keeping money framework which holds account just in Islamic banks or utilize other banks as well. Table 42 shows that we should need to think about the explanation for this, that why they have embraced the administration of standard banks along with Islamic banking framework. Table 2: Customer selected baking system Frequency Percentage Islamic banks only 44 28.2 Conventional banks only 8 5.1 Both conventional and Islamic banks 104 66.7 only Source: Results calculated by authors. Figure 1: Characteristics of selected customers I 28% Islamic banks only Conventional banks only I $ C 67% C 5% Both Islamic and Conventional Banks The data show total number of 156 respondents, in which 80 were males and 76 were females. Among these 156 respondents, there are 44 (28.2%) of those who are dealing with Islamic banks only while 10 4 customers (66.7%) are those who are dealing with
  8. 528 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ both Islamic and conventional banks . Only 8 customers were those who were dealing exclusively with conventional banks. 4.3. Customers’ views dealings with both Banking systems The views of customers dealing with both Islamic and conventional banks are given in Table 3. Table 3: Views of customers dealing with both banking systems No. 1 2 3 4 5 Value Strongly agree F 23 Agree Neutr Disagree al %F % F % F Limited banking 1 69 4 34 2 22 facilities offered 4 4 1 by IBS . . . 7 2 8 Wide range of 10 6 83 5 27 1 23 service offered . 3 7 by IBs 4 . . 2 3 Investment 40 2 27 1 55 3 32 diversification 5 7 5 opportunity . . . 6 3 3 Network reason 18 1 47 3 48 3 41 1 0 0 . . . 5 1 8 Low investment 9 5 69 3 56 . 19 opportunities . 8 9 offered by IBS 8 . 5 Source: Results calculated by author Strongly disagree % %F 5 1 8 . 4 1 . 1 8 1 13 . 4 3 . 7 1 2 2 . 0 3 . 2 2 6 . 3 1 12 2 . 2 1 . 3 7 . 7 Based on the table 3, it shows that more than half of the respondents (44.2%) agree with limited banking facilities offered by Islamic banks. 83 (53.2%) of the respondents agree with wide range of services offered by Islamic banks. 24 (17.3%) of the respondents were agreed with investment diversification opportunities. 47 (30.1%) respondents were agreed with network reasons. 69 (38.5%) respondents
  9. Customer Awareness and its satisfaction about Islamic Banking 529 agreed with low investment opportunities offered by Islamic banks . Majority of the respondents were agreed that both Islamic as conventional bank systems should work side by side to provide services to all types of customers. Figure 2: Customer’s reasons behind dealing with both Islamic and conventional banking 60 50 40 SA 30 A N 20 D SD 10 0 Limited Wide range of Investment banking services diversification facilities offered by IBS opportunity offered by IBS Network reason Low investment opportunities offered by IBS
  10. 530 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ 4 .4 Customers only dealing with Islamic Banks The views of customers dealing with only Islamic banks are given in Table 4. Table 4: views of customers dealing with only Islamic banks Strong ly Agree F % 1 Religious 1 10. 6 3 2 Profitability 1 7.7 2 3 Feasible location 1 10. 7 9 4 Services charges 3 19. 1 9 5 Effectiveness 2 15. 4 4 6 Wide services 1 6.4 0 7 Bank reputation 1 7.7 2 8 Shari ah rules 2 14. obedience 2 1 9 Provision of 8 5.1 investment opp. 1 Credit card provision 8 5.1 0 1 Loan Availability 9 5.8 1 1 Privacy confidentiality 2 16 2 5 Agree Neutral Disagre e Strongly Agree F 6 6 5 4 5 5 4 9 5 3 4 9 7 6 4 5 5 1 3 8 4 8 6 8 % 42. 3 34. 5 35. 3 31. 4 34 F 35 % 22. 4 27. 6 29. 5 16 F 14 % 9 F 25 % 16 29 18 11. 5 9 21 31. 4 48. 7 28. 8 32. 7 24. 4 30. 8 43. 6 40 53 27. 6 25. 6 22. 4 34. 6 39. 1 34 18. 6 15. 4 21. 2 13. 5 26. 9 15. 4 16. 7 12. 2 25 53 34 33 27 17. 3 26 21. 2 16. 7 43 46 25 43 35 54 61 24 33 42 24 26 19 39 14 18 15 11. 5 9.6 15 9.6 9 5.8 9 5.8 17 13 10. 9 11. 5 8.3 10 6.4 18 In table 4, it shows with the intention of more than half of the respondents (42.3%) agreed with religion, because Muslims preferred their religion while 54 (34.6%) of the respondents agreed with profitability. Profit is the desire of every person and organization. 55 (35.3%) of the respondents agreed with feasible location, which is possible to reached easily. 49 (31.4%) respondents agreed with services charges. 53 (34%) respondents agreed with easily transaction system. 49 (31.4) of the respondents
  11. Customer Awareness and its satisfaction about Islamic Banking 531 agree with wide services charges . Majority of the respondents are agreed with bank reputation with frequency 76 (48.7%). 45 (28.8%) of the respondents agreed with Shari’ah rules obedience, 51 (32.7%) of the respondents agreed with provision of investment opportunities. 38 (24.4%) of the respondents agreed with loan availability and 48(30.8%) of the respondents agreed with privacy. Only short levels of respondents are not agreed with both Islamic banking systems. Figure 3 Dealing with Islamic banking system by Respondents 60 50 40 30 SA 20 A 10 N 0 D SD The graph shows the respondents dealing with Islamic Banks in Pakistan, in which SA shows strongly agree, A shows agree respondents, N shows neutral, D shows disagree and SD shows strongly disagree respondents in Pakistan. This percentage shows by bar chart of different colors. By the graph shows the ratio agreed respondents is high but strongly disagree respondents is low. It means that Islamic banking system is better for the Muslims in Pakistan. 4.5 Respondents understanding Arabic language used in Islamic banks The response of the customers of Islamic banks who understand the meaning Arabic terms in Islamic banking is given in Table 5.
  12. 532 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ Table 5 : Respondents understanding level (Arabic Terms) N Yes No N o. 1 2 3 5 N o F % F % Syaria 15 56. 12 4.6 h 7 1 2 Riba 95 33. 18 66. 9 5 1 20 22 80 Hibah 56 6 7 8 4 4 Yes 34. 18 65. h 3 4 7 76 27. 20 72. ul 4 9 Musyarakah Mudharbah Qardh F % F % 93 33. 18 66. 2 7 8 33. 18 66. 6 6 4 16. 23 83. 1 5 9 18. 22 81. 2 9 8 35. 18 64. 4 1 6 94 45 Hassan Wadia 96 Takaf o 9 BaiBithama 51 n Ajil 10 Ijarah 99 1 Source: Results calculated by authors. Figure 4: Respondents understanding level 100 80 60 40 20 0 Yes No With help of above table and Graph we come to know that, 115 respondents understand full meaning of Arabic terms and their percentage is (72.9 %.) Also 80 respondents known the meaning of Syari’ah and their percentage is (56.1%). As for
  13. Customer Awareness and its satisfaction about Islamic Banking 533 riba , wadiah, musharakah, mudharabah and ijarah, the number of respondents who know their meaning are almost the same. 56 respondents who know the meaning of hibah and their percentage is (20 %). Only 45 of respondents know the meaning of Qardh Hassan and their percentage is (16.1%). 4.6 Customer Satisfaction and Awareness about Islamic banking: The results of our study about the customers ‘satisfaction and awareness about of the products of Islamic banks are shown in Table 6: Table 4.6: Customer Awareness about Islamic Banking Product and its service Not Aware Aware but not Aware Used and Used F % F % F % Current Account 21 13.5 31 19.9 104 66.7 Time Deposit A/C 29 18.6 37 23.7 90 57.7 Mudarabah 54 34.6 62 39.7 40 25.6 Musharakah 74 47.4 60 38.5 22 14.1 Ijara Finance 68 43.6 58 37.2 30 19.2 Traveler’s cheques 4 26.9 65 41.7 49 31.4 Overdrafts 39 25 81 51.9 36 23.1 Letter of credit 49 31.4 73 46.8 34 21.8 Murabaha financing 71 45.5 73 46.8 34 21.8 Source: Data calculated by authors. From the above table .6, it shows that more than half of the respondents 78 (66.7%) aware and used the current account, 70 (57.7%) of the respondents aware and availed the time deposit A/C. 88 (25.6%) of the respondents aware and were availing Mudarabah facilities from Islamic banks. 30 (19.2%) respondents aware and used Ijara financing. 40 (31.4%) of the respondents aware and used the traveler’s cheques. Some of the respondents are aware and used overdrafts. 34 (22%) of the respondents were aware about letter of credit and Murabaha financing
  14. 534 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ Figure : 5: Customer Awareness towards Islamic banking products and services 80 70 60 50 40 30 20 10 0 Not aware Aware but not used Aware and used The above graph shows the respondents dealing with Islamic Banking System and their products or services in Pakistan. The Figure shows 20 percent to 65 percent of the customers were aware and using different facilities of Islamic banks. Only 10 percent to 35 percent customers were not fully aware of the products and services of Islamic banks. Some customers are aware of Islamic banking services but are not using them properly.
  15. Customer Awareness and its satisfaction about Islamic Banking 535 4 .7. Customer satisfaction about Islamic banking system The results are shown in Table 7; Table 7: Customers satisfaction about Islamic banking services No . 1 2 3 4 5 6 7 8 Variables Managemen t Proficiency Bank’s personal knowledge Cost of service Efficiency of transactions Facilities of parking Advertising campaign Working hours Financial counseling Strongly satisfied F % Satisfied F % F % 2 5 16 6 8 43. 5 3 3 21. 2 1 6 10. 3 5 8 37. 2 4 8 1 4 8 9 5 5 6 7 35. 3 42. 9 5 0 4 5 2 0 1 2 1 9 2 6 12. 8 7.7 5.1 Neutral Dissatisfid Strongly dissatisfid F 8 % 5.1 F 22 % 14.1 30. 8 31 19.9 3 1.9 32. 1 28. 8 31 19.9 6 3.8 32 20.5 3 1.9 16 14 9 19.9 13 8.3 12.2 10 6.4 21.8 17 10.9 4 30. 4 31. 25 8 8 9 4 4 31. 5 32. 31 9 4 1 7 12. 7 46. 3 23. 19 2 2 2 6 1 16. 4 27. 3 23. 34 7 3 6 6 1 Source: Data collected by authors From the above table 7, it shows that respondents 43.5% respondents were satisfied with management proficiency, 37.2 with satisfied with bank’s personal knowledge. 35.3% were satisfied with cost of service. (42.9%) respondents were satisfied with efficiency of transaction. 30.8% respondents were satisfied with facilities of parking. 31.4% were satisfied with advertising campaign. Some of the respondents were also satisfied with working hours and their ratio is 46.2%, which is highest. 27.6% of the respondents were satisfied about financing counseling. Only short levels of respondents are not agreed with both Islamic banking systems. The results are shown in Figure 6.
  16. 536 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ Figure 6 : Customer satisfaction towards Islamic banking system 50 40 30 20 10 0 SS S N D SD 5. CONCLUSIONS The objectives of the study were to examine the awareness and satisfaction of the customers of Islamic banks about their products and services. For this purpose, a questionnaire was developed and number of 200 customers of Islamic Banks were randomly selected. The questionnaires were distributed among selected respondents, out of 200, correct response of 150 were received and they were included into this analysis. 5-Points Likert scale was used to measure the attitude of respondents about their awareness and satisfaction. Our study concludes that most of the respondents were aware of the products of Islamic banks and also satisfied with their services. Some customers view that Islamic banks should expand range of their products and use latest technology to compete with conventional banks. Some of them argue that both type of Islamic and conventional banking services should allow to exist to provide banking services to variety of customers. Some customers could not understand the real meaning of Arabic terminology of Islamic products. However, there are lot of potential in Pakistani society for the growth of Islamic banking. 6’ POLICY RECOMMENDATIONS: We would like to make the following recommendations: 1. Islamic banks must establish their branches in rural areas to attract religious mind of customers.
  17. Customer Awareness and its satisfaction about Islamic Banking 537 2 . Islamic banks must hire the staff who are well acquainted with Arabic terms of Islamic banks and can easily convey their meaning to common or low literate customers. 3. Islamic banks should expand the range of their products in order to meet growing need of customers. 4. Islamic banks should use latest banking technology to reduce cost and provide prompt services to customers.
  18. 538 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ REFERENCES Ahmad , A. (2010). Application of Non-Financial Measures for Assessment of Performance of Islamic Banks in Pakistan. Interdisciplinary Journal of Contemporary Research in Business, 2(7), 173-181. Ahmad, A., Malik, M. I., & Humayoun, A. A. (2010). Banking Developments in Pakistan: A Journey from Conventional to Islamic Banking. European Journal of Social Sciences, 17(1), 12-17 Aslam, S. (2015). Employer branding and intention to apply by usage of social media in banking sector, Pakistan. International Journal of Scientific & Engineering Research, 6(5), 400-405. Awan,Abdul Ghafoor (200(). Comparison of Islamic and Conventional Banking in Pakistan. Proceedings 2nd CBRC, Lahore, Pakistan. Pages:1-36. Awan,Abdul Ghafoor; Azhar,Maliha,. (2014). Consumer Behavior Towards Islamic Banking in Pakistan. European Journal of Accounting Auditing and Finance Research, Vol 2 (9):42-65 Awan, Abdul Ghafoor; Farhan, Hafiz Muhammad,.(206) Talent Management Practices and their impact on job satisfaction of employees: A case study of Banking sector in Pakistan. Science International, Vol 28 (2). Awan, Abdul Ghafoor; Ahson, Nimra, (2015). Impact of Quality Management Practices on the performance of Employees: A case study of selected Banks of Pakistan. Research Journal of Finance and Accounting, Vol 6(13):134-146. Awan, Abdul Ghafoor (2010). Emerging a New Financial Paradigm, IUB Journal of Social Sciences and Humanities, Vol 8 (2):73-98. Awan, Abdul Ghafoor (2015). Analysis of the impact of 2008 financial crisis on the Economic, Political and Health systems and societies of
  19. Customer Awareness and its satisfaction about Islamic Banking 539 Advanced countries . Global Journal of Management and Social Sciences, Vol 1 (1):1-16. Awan, Abdul Ghafoor; Zeeshan, Muhammad, (2016). Customer preferences in selection of Islamic and Conventional banking in Pakistan. Global Journal of Management and Social Sciences, Vol 2 (3):72-101. Awan, Abdul Ghafoor; Hanif, Maria, (2016). Financial performance of Islamic and Conventional Banks in Pakistan. Global Journal of Management and Social Sciences, Vol 2 (2):1-28. Awan, Abdul Ghafoor; Shabana Sheikh (2016). Islamic Banking Scenario in Pakistan, Global Journal of Management and Social Sciences, Vol 2 (1):38-57 Azmat, S., Skully, M., & Brown, K. (2014). The Shariah compliance challenge in Islamic bond markets. Pacific-Basin Finance Journal, 28, 47-57. Bashir, M. S. (2013). Analysis of customer satisfaction with the Islamic banking sector: case of Brunei Darussalam. Asian Journal of Business and Management Sciences, 2(10), 38-50. Echchabi, A., Eddine, C. O. H., &Ayedh, A. M. (2015). Awareness about Waqf among Algerian Students: An Exploratory Study. Journal of Islamic Business and Management, 5(1), 1-13 Faye, I., Triki, T., & Kangoye, T. (2013). The Islamic finance promises: evidence from Africa. Review of Development Finance, 3(3), 136-151. Ijaz, A. T., & Ali, A. (2013). Assessing service attitude: Service quality measures taken by Islamic banks in Pakistan. Journal of Business and Management, 8(5), 61-68. Khattak, N. A. (2010). Customer satisfaction and awareness of Islamic banking system in Pakistan. African Journal of Business Management, 4(5), 662-671. Marimuthu, M., Wai Jing, C., Phei Gie, L., Pey Mun, L., & Yew Ping, T. (2010). Islamic banking: selection criteria and implications. Global Journal of
  20. 540 Abdul Ghafoor Awan and Sobia Arshad ____________________________________________________________ Human-Social Science Research , 10(4). Zeitun, R. (2012). Determinants of Islamic and conventional banks performance in GCC countries using panel data analysis. Global Economy and Finance Journal, 5(1), 53-72. CONTRIBUTION OF AUTHORS AND CONFLICT OF INTEREST This research work was carried out in collaboration between two authors. Author 1: Prof. Dr. Abdul Ghafoor Awan has his first Ph.Ds in Economics from Islamia University of Bahawalpur-Pakistan and second in Business Administration from University of Sunderland, U.K. He contributed in this research paper by way of guiding author first about title selection, data analysis and statistical techniques. He edited and gave final shape to the manuscript. In order to know about his other fields of research please look at his Web of Science Researcher ID M-9196 2015 or his Profile at Google scholar. Author 2: Sobia Arshad is an M.Phil scholar at Department of Economics, Institute of Southern Punjab. She designed the study, collected and analyzed data. She wrote first draft of the manuscript under the supervision of author 1. Both authors read the manuscript carefully and declared no conflict View publication stats