A Study on Awareness and Attitude Towards Islamic Banking in Tirupattur District

K. A Maria John Joseph; D Mahalakshmi

doi:10.34293/commerce.v9i4.4148

K. A Maria John Joseph Research Supervisor, Associate Professor & Head Sacred Heart College (Autonomous), Tirupattur, Tamil Nadu, India
D Mahalakshmi Assistant Professor, PG and Research Department of Commerce Islamiah women’s Arts and Science College, and Research Scholar (Part Time) Sacred Heart College (Autonomous), Tirupattur, Tamil Nadu, India

DOI: https://doi.org/10.34293/commerce.v9i4.4148

Keywords: Islamic banking, Customer awareness, Attitudes, Islamic principles, Islamic law, Interest system

Abstract

The banking system in every country is based on the interest system. Interest-bearing money is almost like the law of nature where money generates money but alternative banking system called Islamic banking. Islamic banking follows Islamic ethical principle which appears very different from those of the conventional western banking finance model.

In this study, the data has been obtained through both primary and secondary sources. The secondary data were collected from journals, magazines, and the Holy Quran. The fresh data were collected through questionnaires from Tirupattur District. The research design used for this study is descriptive type. The Sampling design used for the study was the convenience sampling technique. The percentage analysis was used for the study.

The Islamic banking system in India was introduced for both Muslim and Non-Muslim customers. Few of the Muslim customers have an account in Islamic banking. Most of the customers do not have awareness about the Islamic bank. This study aims to discover awareness and attitude about Islamic banks, both Muslims and non-Muslim in Tirupattur District. The main objective of Islamic Banking is to retain their existing customers and attract new customers by creating awareness about their banking system. This banking system follows the interest-free principles under Islamic Law.