HOW THE ISLAMIC BANKS ARE POSITIONED TODAY: CASE OF PAKISTAN

Sabeen Khurram Khan; Humaira Kousar; Muhammad Umer Quddoos; Eman Hamid; Muhammad Adeel

Authors

Dr Sabeen Khurram Khan Assistant Professor, Department of Management Sciences COMSATS University Islamabad, Pakistan.
Humaira Kousar Lecturer, Department of Management Sciences, COMSATS University Islamabad, Pakistan.
Dr Muhammad Umer Quddoos (Correspondent Author) Assistant Professor, Department of Commerce, Bahauddin Zakariya University, Multan, Punjab, Pakistan.
Eman Hamid Student, Department of Management Sciences, COMSATS University Islamabad, Pakistan.
Muhammad Adeel MS Scholar, Department of Commerce and Finance, GC University Lahore, Punjab, Pakistan.

Keywords:

Islam; Banks; Position; Today; Case of Pakistan.

Abstract

This paper investigates how the public's awareness level can enhance the future potential of Islamic banking in Pakistan and explores their current understanding of Islamic banking services and instruments. It also discusses the potential promotion issues and barriers to the development of Islamic banking in Pakistan. Primary data was collected from five hundred respondents sampled from the major cities like Islamabad, Lahore, Multan, Karachi, and other distant areas, and analyzed through SPSS. Our findings show that although the public perceives Islamic financial institutions as characterized by ethical norms and where there’s a willingness to patronize Islamic banking, neither they have adequate awareness of Islamic banking products, nor enough information and means are ensured. There is a dire need for public awareness campaigns, and training programs for the banks' management and employers through seminars and conferences, encouragement, and development of Islamic banking by the government and banks to boost the future potential of Islamic banking in Pakistan.

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