Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis
One of the latest innovative products of Islamic banks is the Islamic hirepurchase facility or Al-IjOErah Thumma al-Bayc (AITAB) which is designed to meet the current demand and avoid certain risks in the financing of consumer durables and motor vehicles. AITAB can be utilized to finance a wide ran...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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The International Islamic University Malaysia
2006
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| Online Access: | http://irep.iium.edu.my/3029/1/aitab_-_irwani-asyraf.pdf |
| _version_ | 1796874959189966848 |
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| author | Dusuki, Asyraf Wajdi Abdullah, Nurdianawati Irwani |
| author_facet | Dusuki, Asyraf Wajdi Abdullah, Nurdianawati Irwani |
| author_sort | Dusuki, Asyraf Wajdi |
| collection | IIUM |
| description | One of the latest innovative products of Islamic banks is the Islamic hirepurchase facility or Al-IjOErah Thumma al-Bayc (AITAB) which is designed to meet the current demand and avoid certain risks in the financing of consumer
durables and motor vehicles. AITAB can be utilized to finance a wide range of assets, either for individual or corporate customers. This paper presents empirical evidence on the customers’ perception of AITAB. A country-wide questionnaire survey has been conducted on 203 AITAB customers, aiming at eliciting their awareness and perception of AITAB facility. Overall, the results
provide a strong signal to the bankers that efforts need to be intensified in educating the public about the distinctive characteristics of AITAB and how it
may suit the interest of customers in financing their assets. There is a huge potential for AITAB to be marketed to various segments of customers comprising those who are concerned with the legitimacy of the facility, and
those who seek convenience and less complicated transactions. |
| first_indexed | 2024-03-05T22:31:53Z |
| format | Article |
| id | oai:generic.eprints.org:3029 |
| institution | International Islamic University Malaysia |
| language | English |
| last_indexed | 2024-03-05T22:31:53Z |
| publishDate | 2006 |
| publisher | The International Islamic University Malaysia |
| record_format | dspace |
| spelling | oai:generic.eprints.org:30292013-03-15T01:33:17Z http://irep.iium.edu.my/3029/ Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis Dusuki, Asyraf Wajdi Abdullah, Nurdianawati Irwani HG Finance HG1501 Banking One of the latest innovative products of Islamic banks is the Islamic hirepurchase facility or Al-IjOErah Thumma al-Bayc (AITAB) which is designed to meet the current demand and avoid certain risks in the financing of consumer durables and motor vehicles. AITAB can be utilized to finance a wide range of assets, either for individual or corporate customers. This paper presents empirical evidence on the customers’ perception of AITAB. A country-wide questionnaire survey has been conducted on 203 AITAB customers, aiming at eliciting their awareness and perception of AITAB facility. Overall, the results provide a strong signal to the bankers that efforts need to be intensified in educating the public about the distinctive characteristics of AITAB and how it may suit the interest of customers in financing their assets. There is a huge potential for AITAB to be marketed to various segments of customers comprising those who are concerned with the legitimacy of the facility, and those who seek convenience and less complicated transactions. The International Islamic University Malaysia 2006 Article PeerReviewed application/pdf en http://irep.iium.edu.my/3029/1/aitab_-_irwani-asyraf.pdf Dusuki, Asyraf Wajdi and Abdullah, Nurdianawati Irwani (2006) Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis. IIUM Journal of Economics and Management , 14 (2). pp. 177-204. ISSN 1394-7680 http://www.iium.edu.my/enmjournal/142art3.pdf |
| spellingShingle | HG Finance HG1501 Banking Dusuki, Asyraf Wajdi Abdullah, Nurdianawati Irwani Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis |
| title | Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis |
| title_full | Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis |
| title_fullStr | Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis |
| title_full_unstemmed | Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis |
| title_short | Customers’ perceptions of Islamic hire-purchase facility in Malaysia: an empirical analysis |
| title_sort | customers perceptions of islamic hire purchase facility in malaysia an empirical analysis |
| topic | HG Finance HG1501 Banking |
| url | http://irep.iium.edu.my/3029/1/aitab_-_irwani-asyraf.pdf |
| work_keys_str_mv | AT dusukiasyrafwajdi customersperceptionsofislamichirepurchasefacilityinmalaysiaanempiricalanalysis AT abdullahnurdianawatiirwani customersperceptionsofislamichirepurchasefacilityinmalaysiaanempiricalanalysis |