E-Marketing Strategies for Islamic Banking

2018 ◽  
Vol 26 (4) ◽  
pp. 67-91 ◽  
Author(s):  
Ahmad Roumieh ◽  
Lalit Garg ◽  
Vipul Gupta ◽  
Gurparkash Singh
Keyword(s):  
Marketing Strategy ◽  
Marketing Strategies ◽  
Informed Decision ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Large Bank ◽  
Sharia Law ◽  
Negative Attributes ◽  
Excessive Risk

This article describes how e-marketing is increasingly gaining interest within Islamic businesses. It is important to consider the extent to which it fits comfortably within principle notions of Islam and Sharia law. An Islamic business should ensure that its e-marketing strategy must be devoid of any contentious or exaggerated claims and there must be no excessive risk. As marketing practices include accentuating the benefits and features of products and services, and downplaying the negative attributes which potentially could lead to a consumer making an informed decision based on this unbalanced presentation. Arguably, this presents a form of risk that may be at odds with the fundamental tenets of Islam. This article presents a case-study of a large bank in Kuwait to identify how e-Marketing can be implemented more effectively to attract new customers and retain the existing ones by critically evaluating the viability of e-marketing strategies for promoting Islamic banking. A set of recommendations are also provided to support all Islamic Banks in the development of an e-marketing strategy.

scholarly journals Consideration of Public Interest (Maṣlaḥah) in Al-Qarḍ Al-Ḥasan Financing in Islamic Banks: A Case Study of Al Baraka Bank of Algeria

2020 ◽  
Author(s):  
International Journal of Fiqh and Usul al-Fiqh Studies
Keyword(s):  
Public Interest ◽  
Analytic Approach ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Inductive Approach ◽  
Islamic Bank ◽  
Sharia Law ◽  
Ultimate Purpose

The ultimate purpose of Sharia law is to protect the welfare of humans by bringing benefits for them and preventing harms from them. The jurists agree that the evidence of maslahah is the basis on which the provisions of financial and banking transactions are based regardless of their difference of opinions in terms of its conditions. The reality of Islamic banking transactions and the complexity of many of its issues make the existence of clear evidence from the Quran and Sunnah difficult, which necessitates for the researchers to make additional efforts in this field, and conduct ijtihad to use the evidence of maslahah with its legal conditions as a way to reveal the Shari`ah rulings by following the Companions and righteous scholars during their time. Therefore, the research will deal with the concept of maslahah and some issues related to considering it in financing with al-Qarḍ al-Ḥasan in the Islamic banks, and opinions of scholars about it. In addition, it explains the procedures of granting al-Qarḍ al-Ḥasan at Al Baraka Islamic Bank in Algeria and highlights the need of the Algerian youth to obtain al-Qarḍ al-Ḥasan which will be investigated through the distribution of questionnaires among them. The research follows the inductive approach to extrapolate the scholars' opinions, and analytic approach to analyze their views, and analyze the results of the questionnaires about al-Qarḍ al-Ḥasan. The research concludes that the Shari`ah ruling of some issues of al-Qarḍ al-Ḥasan is based on evidence of maslahah including all of its types which are considered, canceled and silenced ones.

scholarly journals Faktor-faktor yang Mempengaruhi Minat Menabung di Bank Syariah Surakarta

2020 ◽  
Vol 2 (3) ◽  
pp. 167-172
Author(s):  
Ipfa Retno Astuti
Keyword(s):  
Linear Regression ◽  
Sampling Technique ◽  
Profit Sharing ◽  
Marketing Strategies ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Purposive Sampling ◽  
Islamic Bank ◽  
Regression Tests

Abstract– This study aims to examine and analyze the effect of religiosity, profit sharing and service on interest in saving at the Surakarta Islamic Bank. The benefits that are expected to increase and provide knowledge related to the influence of religiosity, profit sharing and services on the interest in saving at the Surakarta Islamic Bank, can be used as material for community consideration and Islamic banking management to develop the role of Islamic banking and marketing strategies in Surakarta. The sampling technique was using purposive sampling technique. The population and sample in this study were 71 people who fit the specified criteria. The data were processed using SPSS, the tests carried out included instrument tests, classical assumption tests and multiple linear regression tests. The conclusion in this study is that religiosity has an effect on the interest in saving in Islamic banks in Surakarta. Profit sharing affects the interest in saving in Islamic banks in Surakarta. Services affect the interest in saving at a syariah bank in Surakarta.     Abstrak– Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh religiusitas, bagi hasil dan pelayanan terhadap minat menabung di Bank Syariah Surakarta. Manfaat yang diharapkan dapat menambah dan memberikan pengetahuan yang berkaitan dengan pengaruh religiusitas, bagi hasil dan pelayanan terhadap minat menabung di Bank Syariah Surakarta, dapat digunakan sebagai bahan pertimbangan masyarakat dan manajemen perbankan syariah untuk mengembangkan peranan perbankan syariah dan strategi marketing di Kota Surakarta. Teknik pengambilan sampel menggunakan teknik purposive sampling. Populasi dan sampel dalam penelitian ini adalah 71 orang yang sesuai dengan kriteria yang ditentukan. Data diolah menggunakan SPSS , pengujian yang dilakukan meliputi uji instrumen, uji asumsi klasik dan uji regresi linier berganda. Kesimpulan dalam penelitian ini adalah religiusitas berpengaruh terhadap minat menabung di bank syariah surakarta. Bagi hasil berpengaruh terhadap minat menabung di bank syariah surakarta. Pelayanan berpengaruh terhadap minat menabung di bank syariah surakarta.

scholarly journals Identification of green marketing strategies: perspective of a developing country

2019 ◽  
Vol 15 (4) ◽  
pp. 42-56 ◽  
Author(s):  
Maria Hayu Agustini ◽  
Sentot Suciarto Athanasius ◽  
Berta Bekti Retnawati
Keyword(s):  
Developing Countries ◽  
Marketing Strategy ◽  
Marketing Mix ◽  
Marketing Strategies ◽  
Green Marketing ◽  
Green Product ◽  
Depth Interview ◽  
Green Practices ◽  
Beauty Products

Green marketing is becoming a trend, and many companies have implemented it as a strategy for winning the market. However, attention to the importance of green marketing strategies has been relatively limited compared to its importance as a viable strategy, and this happens, particularly, in developing countries. As a result, the green marketing strategies of companies in developing countries are not yet fully recognized. So, this study is intended to explore marketing practices of the selected companies in Indonesia. The research is a case study of three selected companies producing herbal medical drinks, natural spa-related beauty products, and natural coloring fabric. They were selected for several reasons: producing of green products, conducting of green practices, and marketing the products abroad. In-depth interview of the owner or in-charged manager of each company was used to obtain the data about its marketing practices. The data were then classified into four Ps of marketing mix, and interrelationship concepts generated from the data were systematically identified using NVivo to get clear picture of their marketing strategy. The results indicated that the companies undertook only quasi green marketing: dealt with green product and conducted green practices but did not apply green pricing, green distribution, and green promotion. This brings implication for companies marketing a green product to take advantage by differentiating their product based on the green characteristics of the product. This study also contributes to knowledge about green marketing strategy in a developing economy that is still limited.

scholarly journals CUSTOMER’S AWARENESS TOWARDS THE ISLAMIC BANKING SYSTEM Case Study on Selected Banking in Duhok City- Kurdistan Region

2017 ◽  
Vol 5 (1) ◽  
pp. 230 ◽  
Author(s):  
Shivan A. Jameel
Keyword(s):  
Banking System ◽  
Service Level ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Quality Service ◽  
Kurdistan Region ◽  
Communication Plan ◽  
International Bank ◽  
Structured Questionnaire

Islamic banking system (IBS) is one of these sectors that affect the economy and it works with free interest rate. This study investigates the level of customer’s awareness toward IBS. The study was conducted on the two Islamic Banks only in Duhok city- Kurdistan Region. The data were collected using structured questionnaire and the sampling was random. Descriptive statistics and Statistical Package Social Science (SPSS V.20) were used to analyze the participants’ responses. The results indicated that customers of Cihan Islamic bank - Duhok and Kurdistan International Bank for Investment and Development are not fully aware of Islamic banking system. Therefore, the study suggests that for Islamic banks to remain active and competitive they need to develop quality-service level in order to supersede the conventional banking standards, invest in new products and services and also develop an effective communication plan by advertising and marketing in order to achieve Islamic customer needs and demands.

scholarly journals DIGITAL MARKETING STRATEGIES TO BOOST TOURISM ECONOMY: A CASE STUDY OF ATLANTIS LAND SURABAYA

2019 ◽  
Vol 7 (5) ◽  
pp. 468-473 ◽  
Author(s):  
Slamet Riyadi ◽  
Daniel Susilo ◽  
Siska Armawati Sufa ◽  
Teguh Dwi Putranto
Keyword(s):  
Social Media ◽  
Marketing Strategy ◽  
Marketing Strategies ◽  
Digital Marketing ◽  
Face To Face ◽  
The Government ◽  
Surrounding Areas ◽  
Tourism Economy ◽  
Tourism Services

Purpose: This research has a purpose to know how PT. Granting Jaya implementing a digital marketing strategy to promote the Atlantis Land Surabaya theme park in the field of one of the tourism services located in Surabaya city. The Mayor of Surabaya has established the Atlantis Land area as an integrated marine tourism area since 2017. Ria Kenjeran Beach (Kenjeran Park) previously managed by the Government of Surabaya. Methodology: This study uses a qualitative approach and interview techniques for collecting material that is done with the question and answers verbally unilaterally face to face. Main Finding: The results of the study found that PT. Granting Jaya prefers to use Social Media as a Digital Marketing Strategy is a way to promote a new brand, build preference, and increase the visitors of Atlantis Land Surabaya through Instagram Strategic Marketing. Implications/ Applications: This research can have implications for the selection and use of promotions more precisely through social media. Because the novelty in this study can be applied to attracting the number of visitors in the world of tourism, especially in Surabaya and surrounding areas.

scholarly journals Risk Based Internal Shariah Audit Practices in the Islamic Bank

2019 ◽  
pp. 87-94
Author(s):  
Nurulhuda Abd Rahman ◽  
Nor’azam Mastuki ◽  
Nawal Kasim ◽  
Muhamad Rahimi Osman
Keyword(s):  
Single Case ◽  
Internal Audit ◽  
Depth Information ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Business Operation ◽  
Detailed Explanation ◽  
Banking Institutions

Shariah audit is an essential key function to ensure Shariah compliance in Islamic banking institutions. Shariah audit complements existing functions of conventional internal audit, which is lacking in providing adequate assurance on Shariah compliance. Hence, there is a need to incorporate Shariah audit function to existing corporate governance framework of Islamic banks (IB). However, there is not much guidance that auditors could refer to in order to perform comprehensive Shariah audit procedure. The current study intends to provide in-depth explanation on the process of internal Shariah audit, particularly on the planning, execution and reporting, also follow up phases. If focuses on the application of risk-based internal audit (RBIA) approach in the practices. The study adopts a qualitative approach of single case study in an attempt to achieve its objectives. By providing detailed explanation on practices of internal Shariah audit in Islamic banks, findings are expected to contribute in supplying valuable in-depth information for Islamic banks, as well as other Islamic institutions. This information is especially important for in strategizing internal Shariah audit practices as an important control and monitoring strategy in their business operation.

scholarly journals How to Attract Millennials? Indonesian Sharia Banking Opportunities

2021 ◽  
Vol 18 ◽  
pp. 376-385
Author(s):  
Muammar Bakry ◽  
Rahman Ambo Masse ◽  
Lukman Arake ◽  
Muhammad Majdy Amiruddin ◽  
Abdul Syatar
Keyword(s):  
Marketing Strategy ◽  
Banking Sector ◽  
Descriptive Analysis ◽  
Field Research ◽  
Islamic Banking ◽  
Target Market ◽  
Islamic Banks ◽  
Business People ◽  
Banking Market ◽  
The Times

Age is often one of the factors determining the target market of a business. By knowing the potential customer's age, we determine what kind of marketing strategy should be proposed. Along with the times, many business people are eyeing millennials because of their consumptive lifestyle. It is not surprising that millenials have now dominated consumer databases. The facts have not skipped the attention of the sharia banking sector in Indonesia. This study aims to construct the opportunity for Bank Syariah Indonesia to grasp millennials as a market share. This study uses field research with qualitative methods, carried out by descriptive analysis. The data sourced from interviews and questionnaires. Islamic banks' opportunities to attract millennials include familiarity with Islamic banking products and contracts, momentum of Hijrah, digitizing Islamic banking, and unique segmentation. These opportunities can be taken into consideration in expanding the Islamic banking market in Indonesia.

CSR and Legitimacy of Indonesian Islamic Banks

2021 ◽  
Vol 12 (3) ◽  
pp. 1242-1251
Author(s):  
Adi Susilo Jahja Et.al
Keyword(s):  
Market Share ◽  
Qualitative Case Study ◽  
Business Continuity ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Muslim Population ◽  
Islamic Perspective ◽  
The Impact

Every bank needs to strengthen their society's acceptance to exist and grow in the long term. As a country with the largest Muslim population, Islamic banks’ market share in Indonesia is still relatively small. These banks should obtain legitimacy from stakeholders for business continuity and growth. To ensure legitimacy, the impact of all of the corporation's activities on society's welfare is a significant concern. Several studies showed that CSR activities are needed to increase legitimacy. However, previous studies regarding CSR and legitimacy mostly used the positive paradigm, and mostly conducted in Western societies. Since the discussion on this matter in Islamic banking in Indonesia is not yet found, this study aims to understand how Islamic banks in Indonesia implement CSR to gain legitimacy using an Islamic perspective. This research is based on the ontology that reality is constructed by business actors who implement CSR programs. A qualitative case study is used by interviewing practitioners who are in charge of CSR programs in the two largest Islamic banks in Indonesia and supported by banks’ reports. This study reveals how legitimacy is achieved in the context of an Indonesian Islamic bank.

scholarly journals The principle of maṣlaḥah and its application in Islamic banking operations in Malaysia

2019 ◽  
Vol 11 (1) ◽  
pp. 137-146 ◽  
Author(s):  
Muhammad Shahrul Ifwat Ishak
Keyword(s):  
Legal Aspect ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Content Type ◽  
Content Analysis Method ◽  
Inductive Methods ◽  
Financial Transactions ◽  
Practical Implications ◽  
Banking Operations

Purpose This paper aims to investigate the extent to which maṣlaḥah (public interest) is taken into consideration in Islamic banking operations in Malaysia, particularly in bayʿ al-ʿīnah (sale and buyback), taʿwiḍ (compensation) and ibrāʾ (rebate). Design/methodology/approach This study applies deductive and inductive methods to analyze the application of maṣlaḥah in Islamic financial transactions. Three issues in Malaysia are selected as a case study, allowing bayʿ al-ʿīnah, standardizing the rate of taʿwiḍ and stipulating the ibrāʾ clause in financial agreements. As this study is qualitative in nature, all data are analyzed based on the content analysis method. Findings Both the maṣlaḥah of Islamic banks and their customers were found to be considered by the Central Bank of Malaysia in the implementation of contracts and principles of Islamic banking. The first maṣlaḥah represents the viability of Islamic banks, while the second maṣlaḥah promotes fairness and transparency between Islamic banks and their customers. Research limitations/implications This study only focuses on the contracts and principles of Islamic banking operations in Malaysia with regard to three selected issues. Practical implications This paper clarifies the practical application of maṣlaḥah in the Islamic banking industry, particularly with regard to implementing its contracts and principles. Originality/value This paper analyzes the argument of maṣlaḥah on the issues of bayʿ al-ʿīnah , taʿwiḍ and ibrāʾ in Malaysia, which are considered among scholars to be debatable issues. While many discussions focus on the legal aspect of Sharīʿah on those issues, this study emphasizes how the application of maṣlaḥah aims to solve the current problems and harmonize between Sharīʿah and reality.

scholarly journals Testing of the Model of Creating a Specialized Tourist Product for Post-COVID Time

2021 ◽  
Vol 10 (2) ◽  
pp. 526-538
Author(s):  
Neven Šerić ◽  
Lidija Bagarić ◽  
Anđela Jakšić Stojanović ◽  
Nevena Keković
Keyword(s):  
Marketing Strategy ◽  
Brand Management ◽  
Marketing Strategies ◽  
Cross Border ◽  
Travel Agencies ◽  
New Challenges ◽  
The Creation ◽  
Desk Research ◽  
Cross Border Cooperation

Specialized tourists offer in the post covid time is an important reason in choosing the destination to travel to. A new perception of this offer puts new challenges to those who design such offers. Most specialized offers are the result of entrepreneurial initiative and intuition. Authors have dealt with the creation of such offers as an important destination concurrent factor in their own cross-border cooperation. Based on their findings, they have developed a model of creating specialized tourism products for post covid time by linking core, additional, and expanded contents with brand creation and the marketing strategy. In this paper authors continue their research by testing that model through two platforms: desk research of the latest cognitions related to the repercussions of Covid-19 on tourist mind, and on a convenient sample of connoisseurs. The testing of the model is connected with one case study in which authors cooperate in practice. The findings have been tested through a survey on a sample of experts (representatives of travel agencies) related to their experiences in sales for 2020 and 2021.They have also found important changes in tourist perception of specialized tourist product. The findings offer the answers as to why the basic contents of the specialized tourist offer is no longer sufficient, as well as a way for developing additional and expanded contents, on which the brand and brand management activities in the post corona period should be primarily  based, i.e. on what to base the marketing strategies in the post covid time.

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