Employee awareness of core Islamic values for the market ability of Islamic banking products in Bangladesh

Abstract

Since its inception, Islamic finance sector have gone through rigorous research and development which led to the gigantic size of the industry at present world economy. The impressive growth of the Islamic banking industry was welcomed by good number of Muslim populations of various countries which is ever expanding. However, most of the research and developments in the Islamic finance sector focused on the state-of-the-art product and services so that the stakeholders; mainly clients and stockholders get the best service with maximum profit by competing with the conventional banking industry. This rapid advancement of products and services however did not quite give proper attention to one important stakeholder in the industry which is the employees of the Islamic finance institutions. This research aims to explore the key concepts and history of Islamic banking industry along with its current development around the world. The research however will focus on the perception of the Islamic banks employees in Bangladesh. This primary data based research which was heavily dependent on survey questionnaire tries to show the relationship that the knowledge about Islamic value among employees have with the marketability of the Islamic banking products and services. Furthermore, with the help of secondary data, the paper also discusses the approaches that should be taken by the major industry players in order for the industry to have sustainable growth and expansion in Bangladesh.