A survey was conducted by Al-Huda Centre of Islamic Banking and Islamic Economics regarding the services, operations, facilities, major products and future of the Islamic banks.
The purpose of this exercise was to have a productive feed back, which could be helpful for the progress of Islamic Banking market. This survey was conducted with around 611 participants from all over the country.
First question was regarding the reason for choice of Islamic Bank. In the reply of question 33.4 percent said that the main reason for their choice of good services provided by the Islamic banks, 63.2 percent went there due to get rid from Riba (Interest), while 3 percent went due to earning of profit. While asked them, would they like to go back to interest based banking system, 60.7 percent said they were never like to go back, 33.3 percent said 'No' while 6 percent said 'yes' they would like to go back.
Responding the questions about providing technological facilities (ATM, Online Banking, e-Banking etc) from Islamic banks 73.4 percent said 'yes, they are enjoying these facilities in there concern branches of Islamic banks, 13.4 percent said 'No' and 13 percent said 'little bit'.
A question was asked about the operation system of Islamic banks, 70 percent said that it is very good, 30 percent said just good and no one said that it is not good. When they asked, whether they have Islamic banking branch located near to them, 66.7 said 'yes', 33.3 percent said 'no'. In a question about motivation to other friend/family members towards the Islamic banking, 94 percent said 'yes' they would like to suggest them to go for an Islamic bank while 6 percent said 'no'.
Next question was, which services of Islamic banks you are enjoying effectively, 43.4 percent were in favour of current accounts, 20 percent Ijara, 20 percent Musaraka, 10 percent Murabaha and 6.7 percent Modaraba.
At this occasion, Director Al-Huda, Zubair Mughal said that outcome of this report show that at one end the customers of Islamic banks are quite satisfied with the current services provided by these banks, but they also have more expectations.
Zubair Mughal paid his special gratitude to Islamic banks for there lukewarm co-operation in this process.
Mazhar Ali Bukhari, Head of Islamic Banking, Prime Bank, while talking at this occasion said that Al-Huda CIBE contributions should be prized which they are rendering for the expansion of Islamic banking industry.-PR