Islamic banking Dissertation Example | Topics and Well Written Essays - 19500 words

Islamic banking - Dissertation Example These research findings show that both bank managers/staff and customers perceived that there is less awareness of Islamic banking products/services. The respondents could not distinguish the difference between conventional offerings and Shariah compliant offerings; thus, they are not motivated to have an Islamic banking account. Their primary reason of using the Islamic banking is not related to profitability or religion, but it is on the perception that the system is rewarding for the life hereafter. This paper reflects two important implications. First, Islamic banks must increase customer awareness on the product/service offerings of the system through advertising in the real world and through the Internet. Second, it should increase its number of network and distribution channels to gain competitive advantage and allegiance by disseminating Islamic banking information. This research will be of interest to both conventional and Islamic banking in the Muslim and non-Muslim countri es. This paper provides fresh results on the level of awareness of Islamic banking in the UK and Saudi Arabia. 1. Introduction 1.1 Background Information Islamic banking is the new representation of financial system and it is also one of the fastest growing industries in the global financial market. It is also considered as the best solution during financial crises and credit crunch in looking for a better and fairer way of managing money and in underpinning the real financing activities. Islamic banking is following the Islamic Shariah law and Islamic financial system which are derived from the Holy Qur’an and Sunnah (Strom et al., 2007). Thirty years ago, Islamic banking existed... The intention of this study is islamic banking as the new representation of financial system and it is also one of the fastest growing industries in the global financial market. It is also considered as the best solution during financial crises and credit crunch in looking for a better and fairer way of managing money and in underpinning the real financing activities. Islamic banking is following the Islamic Shariah law and Islamic financial system which are derived from the Holy Qur’an and Sunnah. Thirty years ago, Islamic banking existed only in major Islamic countries and become a profitable segment of the banking industry considering that 20 percent of the world’s population was Muslims and Islam being the third largest religion. The Islamic banks primary clients are those people that keep away from paying nor receiving interest of any form and for them to have a source of income, they established a profit and loss sharing banking system that permit them to share th e risk with client. Islamic banks are required to operate based on Islamic jurisprudence and this law inhibited them from paying and accepting interest fees (RIBA). Muslims are inhibited because it brought a lot of negative effects on human beings’ earning capacity and purchasing power, incredible poverty in the society and unequal wealth/debt crisis in the economy. However, the common banking system operates on the basis of interest which is also known as the conventional banks.

Bachelor of Business - Paper on Leadership Issues Research

Bachelor of Business - on Leadership Issues - Research Paper Example However, to be an effective leader, it is important that leaders know the boundaries of their authority. Likewise, as leaders, it is important to be able to set good examples because people tend to emulate the things that are being done by the people who are over them on the corporate ladder. Hence, the ethics of leaders come into play crucially. However, there are many interpretations of what ethics is about. Some would say that ethics is about right and wrong or about religious beliefs. Interestingly, some would say that it is about being a law abiding citizen while some would say that it is doing what is generally accepted. However, confining ethics to each of the foregoing examples may be impossible such as religion which has a very high moral standard. It may also be a problem to equate it with laws or to what is generally accepted since these may likewise deviate from what is truly ethical. Basically, ethics are about having a high standard about what is right and wrong that st ates what people ought to do. Likewise, it is also the learning process as well as the development of one’s standards of being ethical (Velasquez et al 2010). Nowadays, ethical issues pervade companies especially when there are issues divulged by employees who are unable to take in things that are going badly for the company. As such, when certain anomalies are divulged by employees or former anomalies, these become cases of whistle-blowing. It is thus important to make this distinction because it is in these cases that leaders’ ethical issues come into play since these are the things that they can directly influence. All other disclosures that are not made by employees or former employees are not cases of whistle-blowing (Sollars 2001). It is very important for leaders to ensure that issues pertaining to whistle-blowing are handle with utmost professionalism as these may easily expose the ethical standards that they posses. Hence, these will be the focus of the case i n point. What recommendations for action would you make to the senior management? Basically, the case presented a company that went from bad to worse after the initial incident of whistle-blowing that exposed major anomalies resulting to unpleasant things such as investigations and even arrests. It was an unfortunate turn that instead of having an improvement in operations, the company’s output further dropped not to mention the morale of the employees. Hence, it is important for the top management to first recognize that the business environment of today has evolved to a level that has provided a more conducive environment for whistle-blowing. The major advances in technology have tremendously improved the capability of communications enabling new channels and ways of providing and getting information in ways unimagined just a decade and a half ago. Likewise, companies must be made aware that these technological improvements have brought in a new era for businesses known as the information age effectively phasing out the industrial stage. Thus, with this new age comes a new breed of manpower known as knowledge workers. In fact, many such employees are making their way deep into the corporate world (Serrat, 2008). This only means that people nowadays know better and can communicate easier which has made disclosures of anomalies easier. Thus, it is important that the senior manage