Comparison between Islamic and conventional banking: awareness of staff in UiTM Dungun / Megat Ahmad Zhafri Megat S’adan

• Main Author: Megat S’adan, Megat Ahmad Zhafri
• Format: Student Project
• Language: English
• Published: 2021
• Subjects: HG Finance; Banking; Interest rates. Interest tables; Bank loans. Bank credit. Commercial loans; Special classes of banks and financial institutions; HJ Public Finance; Finance, Islamic
• Online Access: https://ir.uitm.edu.my/id/eprint/73821/1/73821.pdf; https://ir.uitm.edu.my/id/eprint/73821/

Islamic finance has begun since 1975 and now it has a large share of the global financial market. There are presently more than 265 Islamic banks operating in more than 40 countries and their combined wealth valuation is over USD 265 billion (Hassan, 2007). For the Islamic banking industry, the conventional banking market is a well-known competitor. Islamic banking must take into consideration the strategy, experience and increase the level of knowledge of its customers (Khattak and Rehman, 2010). Due to that, it has risen the various of opinion and knowledge related to the two types of banks. This research paper examines the awareness of a group of people regarding the two types of banking namely Islamic banking and conventional banking. It is an attempt to investigate the comparison between two type of banking system. A thorough comparative questionnaire has been formulated. Responses from the questionnaire and other information obtained from the scholar articles related to the banks were analysed. In this paper, the comparison questions between two type of banking system were conducted to examined the respondent’s knowledge and view about both banking system. Through it, this paper attempts to discover either the target respondent is aware on the differences between both banking system and how far their satisfaction on each of banking system.