Original Research

Consumer awareness and usage of islamic banking products in South Africa

Yvonne Saini, Geoff Bick, Loonat Abdulla
South African Journal of Economic and Management Sciences | Vol 14, No 3 | a193 | DOI: https://doi.org/10.4102/sajems.v14i3.193 | © 2011 Yvonne Saini, Geoff Bick, Loonat Abdulla | This work is licensed under CC Attribution 4.0
Submitted: 21 April 2011 | Published: 25 August 2011

About the author(s)

Yvonne Saini, University of the Witwatersrand
Geoff Bick, Wits Business School, South Africa
Loonat Abdulla, Wits Business School

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This paper investigates the level of consumer awareness and use of Islamic banking products in South Africa. A non-probability sampling method was used whereby a questionnaire was administered to 250 respondents and statistically analysed to determine the factors that are important in the choice between Islamic or conventional banks. It was found that Muslims are aware of Islamic banks, but their rate of use is low, as Muslim customers regard efficiency, lower bank charges, the availability of automatic teller machines and an extensive branch network as important factors when it comes to choosing a bank, rather than religious motivations for compliance with Islamic conventions. It was concluded that, if Islamic banks wanted to attract and retain customers and remain relevant in the South African context, they would have to develop relevant strategies designed to meet customers’ needs. Religion as the sole motivation for  choosing Islamic banks is inadequate.


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