Selection towards Islamic Banking among Kelantanese

Jun 21st, 2015
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1.0 INTRODUCTION : Islamic banking is banking based on Islamic law (Shariah). It follows the Shariah, called fiqh muamalat (Islamic rules on transactions). The rules and practices of fiqh muamalat are based on the Quran and the Sunnah, and other secondary sources of Islamic law such as opinions collectively agreed among Shariah scholars (ijma’),

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Factors Selection of Islamic Banking towards Kelantanese Consumers' preferences.CHAPTER 11.0 INTRODUCTION Islamic banking is banking based on Islamic law (Shariah). It follows the Shariah, called fiqh muamalat (Islamic rules on transactions). The rules and practices of fiqh muamalat are based on the Quran and the Sunnah, and other secondary sources of Islamic law such as opinions collectively agreed among Shariah scholars (ijma'),analogy (qiyas) and personal reasoning (ijtihad). The first Islamic bank was established in Malaysia in 1983. In 1993, commercial banks, merchant banks and finance companies were allowed to offer Islamic banking products and services under the Islamic Banking Scheme (IBS banks). The IBS banks are required to ensure that the funds and activities of the Islamic banking transactions are separated from the conventional banking business. Population of muslims is the biggest in the world, therefore Islamic banking system is highly demand especially in Islamic country for instances Malaysia, Pakistan, Sudan and many more.In Malaysia, Tabung Haji is the first banking institution that offer Islamic banking. Then Bank Islam Malaysia Berhad follow. After these two banks operated, conventional has provide their own for instance CIMB Islamic, RHB Islamic and others. Customers demand variety of product services such as loan, saving and investment , they really hope that their fund is managed parallel to the syariah of islam and not to against the law. I

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