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The purpose of this study is to identify the determinants of the intended use of Islamic banking and financial services by US Muslims. It builds on the plethora of studies primarily conducted in Muslim-majority countries.

An extended theory of planned behavior model was tested using structural equation modeling. The hypothesized paths were positive attitude, positive subject norms, perceived behavioral control, greater Islamic religiosity and lower perceived cost of being Muslim. A sample size of n = 251 was analyzed.

The analysis showed that positive attitudes toward Islamic financial services were found to be statistically significant (p < 0.001), and its path was the strongest. The higher Muslim identification path was trending toward being statistically significant (p < 0.086). The analysis also showed that lower perceived cost of being Muslim path was statistically significant (p < 0.035), but in the opposite hypothesized direction. No support was found for the effect of positive subjective norms or perceived behavior control hypotheses.

The study was exploratory in nature and has limitations, including some discriminant validity problems.

The paper includes recommendations for US Islamic banking and financial services providers to develop more effective market segmentation and targeting, as well as integrated marketing communication strategies.

This paper fulfills a void in research on Islamic marketing in the West, particularly the USA, a country with a nominal Muslim population.

The purpose of this paper is to review the attitudes, perceptions and knowledge of Islamic financial products and services.

A synoptic survey of empirical analyses about Islamic financial products and services and comparison with the literature on conventional financial services and products.

It was found that while religious conviction is a key factor in the use of Islamic finance, consumers also identify bank reputation, service quality and pricing as being of relevance. When selecting a financial institution's products and services, business firms usually employ criteria that are more conventional, such as the cost of finance, in their decision making. There is also interest among financial institutions in supplying Islamic financial products and services, but this is mitigated by complications with firm management and a lack of familiarity with business conditions. The concept of risk sharing with borrowers serves as a substantial barrier to most financial institutions engaging in Islamic methods of finance. Research limitations/implications – This survey is limited to work published in refereed journals, books and book chapters.

Need for further theoretical and empirical research on how religious convictions affect consumers in their financial decision making. In addition, most work on Islamic finance is in a single national context, international comparisons are required.

This paper is the only known empirical survey of attitudes, perceptions and knowledge of Islamic financial products and services. It provides guidance for future research in Islamic finance and serves as an aid for decision making by policymakers, consumer interest groups, business firms and financial institutions.

Islamic finance is becoming a core part of the financial services economy in the Middle East countries. There is a strong likelihood that Islamic finance is also driving the expansion of trade in insurance services. However, research on Islamic finance’s effect on trade in insurance services is scant. This study aims to fill this gap by investigating if Islamic finance has promoted trade in insurance services.

This study adopts the gravity modelling framework and the panel data estimation procedure in understanding the effects of Islamic finance on trade in insurance.

The empirical results reveal a statistically significant positive correlation of Islamic finance with the exports and imports of insurance services. Economic sizes (domestic and trading partners), growth in trading partners, cost of doing business, legal rights and financial freedom are other statistically significant determinants.

It makes a positive contribution to the Islamic financial services literature. Islamic finance is an integral part of the conventional banking and financial sector in the Middle East that actively fosters the expansion of insurance services that need support, given its essential role in services trade.

This study is unique as it directs attention to the role of Islamic finance in fostering trade in insurance services within an inclusive modelling framework that has been overlooked in the Islamic finance literature.

The purpose of this paper is to examine the direct and indirect moderation effects of demographic and socio-economic(s) factors on the adoption of Islamic banking in UAE.

Convenience sampling was done on the residents of Sharjah, Dubai, and Abu Dhabi. A closed-ended questionnaire with 30 items was designed and pre-tested before the start of the study. Path analysis and moderation testing were the main analytical approach. A total of 320 respondents completed the survey.

The research revealed that demographic and socio-economic(s) moderators may have direct and indirect moderation effects on the adoption of the Islamic banking in the UAE, which indicates the importance of these factors in the provision of Islamic banking products and services in the UAE.

This study further revealed that these moderators have huge practical implications for Islamic bank managers and marketers as they can exploit these demographics to enhance their market share in the UAE.

In UAE, minimal attention has been directed toward the role moderators would play in the criterion that individual investors would use in the adoption of Islamic banking products and services in a cosmopolitan environment that is experiencing competition from conventional banks.

An extensive review of the existing literature on the adoption of Islamic banking reveals that no empirical research has been undertaken to explore the role played by demographic and socio-economic(s) moderators in the adoption of Islamic banking in UAE and internationally. This study attempts to fill this gap.

The purpose of this paper is to initiate a direct discourse towards an Islamic microfinance focus agenda for the economic enlistment of the poor minority community and to allow poorer households in the financial inclusion. The issue of the Indian conventional microfinance institutions in failing to attract the poorest of the poor amongst Muslims is important for the purpose of this paper. This study explores a Shari’ah-compliant microfinance system which will create a level of playing-field with respect to the financial inclusion of the poor.

The paper is a theoretical discussion on Islamic microfinancial services for financial inclusion of the poor. Therefore, there is little to say about “methodology” other than the conventional microfinance model is reviewed, and an alternative model of Islamic microfinancial service has been suggested to allow poorer households in the financial inclusion.

The paper finds that there are some opportunities capable of improving the economic condition of the poor Muslim communities through some innovative approaches. To illustrate this finding, the paper emphasises on designing and delivering Islamic microfinancial products suitable for the poor based on the principle of Islamic solidarity. It argues that this service will help the poor and turn their savings into sums large enough to satisfy a wide range of personal, social and asset-building needs as well as needs relating to small businesses and consumption.

The paper’s findings are limited to the matter of financial inclusion of the poor through Islamic microfinancial services in India.

Combining the Islamic social principle of solidarity for the less fortunate with the power of microfinance to provide financial access to the poor has the potential to reach out to millions more people. The ideas presented in this paper are designed to direct discourse towards an Islamic microfinance focus agenda for the economic enlistment of the poor Muslims in India.

Islamic banking system has become mainstream with the increasing popularity and demand of its products and services, including that of non-Muslims and even among the Western market. This paper aims to attempt to explore the factors that influence the co-production of services as well consumer attitudinal loyalty based on consumers’ perception of Islamic financial banking services. It also tests how co-production and customer loyalty as well as corporate image relate to each other. The present study is set up in the context of Islamic financial banking service industry in Malaysia.

The data were collected using the survey method. Convenience sampling was used to collect 502 usable responses via self-administered questionnaires.

The hierarchical regression results show that communication and commitment have a significant influence on co-production of services, but competence has an insignificant relationship. Co-production and corporate image have a significant influence on the consumer attitudinal loyalty, whereas corporate image has significant influence on consumer commitment. The study findings show that the co-production fully mediates the relationship between the communication and attitudinal loyalty, whereas it partially mediates the relationship between commitment and attitudinal loyalty.

Further research is required to determine other additional and broader range of constructs. Further testing is therefore required before any generalization of these results can be undertaken, and it would be useful to conduct future studies in other types of industries. There are four segments of Islamic financial services customers, namely, religious conviction group, religious conviction and economic group, ethical observant group and economic rationality group. It is interesting to examine these segments related to the current study on how each segment influences the co-production process and loyalty among them.

The sustainability of a service organization depends on understanding customers’ needs but it also relies on the involvement of its customers. Although similar to-production, value co-creation has been regarded as one of the most prioritized research topics in service and marketing; thus, future researchers might model the relationships based on this concept. Despite these, few studies have been conducted to understand the nature and implications of co-production concept in Islamic financial banking services. This study contributes to the knowledge, in particular, in the context of Islamic financial banking services, especially by integrating additional constructs in determining customers’ loyalty such as the corporate image. To a certain extent, it offers some important insights on the subject of co-production and customer loyalty that eventually will lead to value creation and sustainability of businesses.

The global Islamic financial landscape is changing with rapid advances in technology. The increasingly tech-savvy demography is presenting both opportunities and challenges to the industry. With the advances in e-finance and mobile technologies, financial technology (Fintech) innovations emerged by combining the e-finance, Internet, social networking services, social media, artificial intelligence (AI) and big data analytics. Fintech promises to reshape the Islamic financial landscape by improving processes’ efficiencies, cost-effectiveness, increased distribution, Sharīʿah compliance and financial inclusion. As far as the Islamic fund management industry is concerned, AI seems to be the keyword. Islamic fund managers have recently started to incorporate AI and big data analytics into their strategy in the process of making accurate decisions based on facts and figures, which eliminates any biases and personal intuition. This disruption in status quo is raising new issues, new concerns and new exciting opportunities. While disruption may carry negative connotations, the industry players have been embracing the innovation and potential revolution the technology could offer. Thus, the objective of this chapter is to discuss legal aspects of Fintech and its impact on the Islamic fund management industry in Malaysia. This chapter introduces a historical overview of Fintech and its evolution in the Islamic fund management industry. This chapter further provides an overview of the legal and regulatory aspects of Fintech with regards to the industry. Finally, legal issues and challenges are identified and discussed. Being a legal research, this chapter adopts a qualitative method by analysing the relevant literatures on the subject. This chapter is expected to provide an insight into the application of Fintech and its impact on the Islamic fund management industry in Malaysia.

This study aims to provide a better comprehension of the behavioural intentions that influence the adoption of Islamic financial technology (Fintech) in Malaysia for two kinds of Islamic lending Fintech services, which are crowdfunding and peer-to-peer (P2P) lending.

From May to July 2022 the primary data were collected by using a questionnaire distributed online to survey 437 Islamic Fintech clients in Malaysia. Structural equation modelling has been used to analyse the data based on using the partial least squares approach.

The findings of this paper shows that planned behaviour, acceptance model and technology's use models are positively impacting factors that influence customers' opinions on adapting Islamic Fintech services in lending. The acceptance model was found to exert a negative impact on the intention to adopt Islamic lending P2P Fintech service. In addition, technology's use has a negative impact on the intention to adopt Islamic lending crowdfunding Fintech service.

First, the study is limited to Islamic Fintech customers in Malaysia only, second, the study adopted an online survey but there is no guarantee that the geography area was fully covered. Another limitation is that the study covers only Islamic Fintech services in lending, thus the study did not attend to variables such as religiosity and the authors believe that this will provide useful insights for future research.

Despite the importance of this topic, there has been a lack of empirical evidence until now. In this paper, the authors take stock of the empirical evidence in the literature through the importance of the adoption Fintech. This study provides a broad view of the market potentials for Fintech providers from the demand side on a wide range of Islamic Fintech services rather than focussing only on payment, transfer, etc. as presented in previous studies.

The purpose of this paper is to investigate the awareness of non-Muslims coming from a non-Muslim-majority country regarding Islamic financial services, in particular, the takaful products.

This paper uses structured questionnaires to acquire and understand South Korean citizens’ perceptions of Islamic financial services (primarily takaful) to reinforce the scant previous literature in this area of research. The questionnaires are developed and adapted based on a previous study by Htay and Salman (2013). The sample consisted of 121 Korean people who were living in Ampang, a popular suburb for South Koreans in Kuala Lumpur.

The findings indicate that even South Korean citizens who have dwelled in Malaysia for a significant amount of time had little awareness of Islamic financial services. Upon personal explanation about the product, however, they showed a significant interest to get to know about takaful and a willingness to subscribe to it in the near future.

Respondents are limited to only South Koreans who are residing in Malaysia.

Understanding the level of awareness about Islamic financial services among non-Muslims residing in Muslim-majority country.

There is ample scope to penetrate the non-Muslim market for Islamic financial products.

There is a growing concern over the lack of research in the area of perceptions of Islamic financial services among non-Muslims from non-Muslim-majority countries. The lack of study in this area of research has often been overshadowed by research studies on perceptions of Islamic financial services among non-Muslim residents in Muslim-majority countries, which may have led to a dearth of proper strategies in the Islamic financial industry to penetrate non-Muslim-majority markets.

Although Islamic banks offer superior financial services than other interest-based conventional banks, they could not expand their share and dominate the markets in several Islamic countries. This problem could be attributed to some causes not addressed. The current study proposes Islamic financial literacy as an important factor that could help aggress this problem. Due to a wide variety of Islamic financial services and the lack of understanding of these services, the banks' small business customers are indifferent between Islamic and interested-based conventional services to finance their business.

This study uses the exploratory technique of multiple correspondence analysis to detect any potential role of Islamic financial literacy in customers' preference for Islamic banks over conventional ones. The potential effect was tested with other essential factors, such as the customers' age, gender, and educational level. This analysis was conducted on a data set from 2061 banks' small businesses customers using the mall-intercept survey method.

The study shows a low level of Islamic financial literacy among Yemeni banks' small business owners' customers. Furthermore, despite integrating some critical factors that could influence the actual bank selection process among Yemini banks' customers, the authors found a decisive potential role of Islamic financial literacy as one of the key determinants of bank selection preferences.

This is the first paper to explore the potential role of Islamic financial literacy on the actual selection between Islamic Banks and their counterparts: the conventional banks in Yemen. The research results could build a more comprehensive theoretical model on Islamic banks' customer behavior.