Awareness and Willingness towards Islamic Banking in Jammu and Kashmir: A Descriptive Analysis.

Abstract

Purpose –The actual goal of this study is to evaluate the awareness and willingness of Muslims in the Kashmir Valleytowards the use of Islamic banking. As an alternative to interest-based banking, Islamic banking is becoming more and more popular worldwide. Given that Kashmir is a Muslim territory governed by India, investigating the possibilities of an alternative banking system in the region seems somewhat bold.

Design/ methodology/ approach– Quantitative method of data collection was adopted in the form of self-structured questionnaire, by using connivance sampling technique.Thus, a sample of 300 respondents was gathered for that purpose from each of the ten districts that make up the Kashmir Valley. And to get the results, a descriptive analysis was then used.

Findings –The results show that a resounding majority of participants express a preference for Islamic banking. Furthermore, it is evident from the data that the respondents are fully aware of Islamic banking services and are prepared to use them, if they become available in the future.

Practical implications –The findings of this research will be of great importance for the institutions to implement the system of Islamic banking in the valley.On the other hand, before beginning operations in any nation for the first time, organizations and institutions may find the study's conclusions useful in designing and executing educational marketing campaigns to educate prospective clients about Islamic banking operations and to confirm the capacity to offer effective service.

Originality/value –This research is unique in nature, as it is the first ever survey based study conducted in Kashmir valley to assess the pent-up potential of Islamic banking. So in this context, we accomplished this research to explore the awareness and willingness towards Islamic banking among the masses of Kashmir valley.