- Title
- Examining the consumption of financial products by Muslim consumers in Australia
- Creator
- Jeffrey, Reyaz; Pires, Guilherme; Rosenberger III, Philip J.
- Relation
- Global Business & Economics Anthology Vol. 2, Issue December 2019, p. 100-112
- Relation
- https://web-s-ebscohost-com.ezproxy.newcastle.edu.au/ehost/pdfviewer/pdfviewer?vid=2&sid=cc4bd73f-cd7d-4e05-8581-f280e2a818b8%40redis
- Publisher
- Business & Economics Society International
- Resource Type
- journal article
- Date
- 2019
- Description
- Financial products are an essential part of living in developed countries, such as Australia, facilitating financial transactions and asset ownership. However, for Muslims, the Islamic prohibition of interest potentially rules out the consumption of conventional (non-Islamic) financial products. Instead, Muslims are encouraged to participate in Islamic financial products that share profits, vis-à-vis interest. Existing literature suggests that while some Muslim consumers may consume non-Islamic financial products despite religious imperatives, others may simply abstain, leading to financial and possibly social exclusion. Aiming to enhance understanding of how Muslims in Australia fulfil financial needs, this paper presents a preliminary conceptual model that identifies social and psychological factors that drive Muslims’ intention and behavior towards Islamic and non-Islamic financial products. The study seeks to contribute intelligence on the need for distinct marketing strategies when targeting Muslims’ consumption of non-Islamic and Islamic financial products in Australia.
- Subject
- ethnic marketing; consumer behavior; Muslims in Australia; theory of planned behavior
- Identifier
- http://hdl.handle.net/1959.13/1491375
- Identifier
- uon:53084
- Identifier
- ISSN:1553-1392
- Language
- eng
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