Customers Awareness and Satisfaction of Islamic Banking Products and Services: Evidence from the Kuwait Finance House

Abstract

The objective of this study is to explore the levels of customer awareness and satisfaction with Islamic financial products and services offered by the Kuwait Finance House (KFH). The attempt is also made to identify reasons behind dealing with the KFH. To achieve these objective, 650 questionnaires were distributed during the period between 15 April and 15 May 2011 to the KFH customers and 429 returned completed. The results of the questionnaire analysis revealed that a significant proportion of the KFH customers are not aware of many of the products currently on offer. The respondents are relatively satisfied with almost all aspects of the KFH, although some work needs to be done to improve the appearance, architecture, internal design and furniture of the bank. They also expect an increase in the parking facilities and to train staff to handle transactions over the phone. The respondents indicated that they deal with the KFH for its name and image, its guaranteed confidentiality, its trusted management and Sharia’h Supervisory Committee. The respondents also demonstrated that they hold accounts in Islamic and commercial banks to diversify their investments.

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