Empirical Investigation of Awareness Level of Customers about Islamic Banking in Pakistan

Abstract

The present study seeks to check the awareness level of the people about the Islamic Banking in Pakistan. This study performs descriptive and frequency analysis by using a sample of 150 customers who were using both Islamic and conventional banking. A questionnaire was prepared and distributed to get the data from people of Gujranwala and Sialkot cities about the Islamic Banking by five point likert scale. The study found mixed results about the concept of Islamic banking among the customers in Pakistan. The study also pointed out that most of the people have no idea about Islamic Banking and Islamic Banks are also not promoting it in an effective and efficient way that can help them to understand the Islamic Banking. Another important finding of the study is that people are indifferent between services of Islamic banking and conventional banking and the study suggests that Sharia board should actively play its role to apply Islamic banking in Pakistan.