EXPLORING DETERMINANTS OF ISLAMIC BANK BUSINESS STRATEGIES: INSIGHTS FROM AN EMERGING COUNTRY THROUGH QUALITATIVE RESEARCH

Abstract

The objective of this paper is to explore the determinants, namely corporate structure, practitioners' roles, and promotional factors, influencing customers' intentions to engage in financial transactions with Islamic banks in the specific context of Bangladesh Islamic Banking (IBB). The study employs a qualitative approach, relying on recorded focus group interviews involving 60 Islamic bank customers (IBC), specifically focusing on their experiences with IBB's banking services and transactions. The findings underscore the pivotal role played by corporate structure, practitioners' roles, and promotional factors in shaping customers' decision-making processes regarding their intention to conduct financial transactions within the IBB. However, there are certain limitations to this research, and recommendations are provided for IBB to incorporate into their marketing strategies, with the aim of positioning Bangladesh as a prominent Islamic banking hub. This paper contributes to the existing literature by concentrating on the research pertaining to the intention of individuals, who currently maintain bank accounts with IBB, to engage in financial transactions. It delves into the three key attributes that draw this specific customer group towards selecting IBB, with a particular focus on the IBC for their banking transactions.