Customers' Perceptions on Islamic Banking: A Case Study in the Gambia
DOI:
https://doi.org/10.31436/jif.v9i1.373Abstract
This study examines customers’ perceptions of Islamic banking in the Gambia using both descriptive statistics and logistic regression methods. A sample of 150 customers from the four major conventional banks and the only Islamic bank – Arab Gambia Islamic Bank (AGIB), took part in this study. Customers’ religious commitments, knowledge of Islam, awareness of Islamic banking products, among other variables were assessed. The descriptive statistics compares and points out the differences between the responses of customers of conventional banks and AGIB. The results indicated that the customers of AGIB are more religiously committed compared to the customers of the conventional banks. The findings also show that the customers of AGIB have more knowledge of Islam and Islamic banking compared to their counterparts from the conventional banks. However, customers’ awareness and usage of Islamic banking products are very poor among all the respondents. Almost all the customers agree that interest is prohibited in Islam, but they regard the AGIB not to be Shariah compliant. The findings show that religious commitment, knowledgeable about Islam and Islamic banking are the most important determinants of banking with the AGIB.
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