Shariah board, web-based information and branding of Islamic financial institutions

Abstract

Purpose With the advent of technology and internet banking, the role and value of bank’s websites have increased. Additionally, the Islamic banking boom has also increased the role of Shariah-based banking in the market. But neither web-based information nor Shariah board members have been investigated for their possible effects on the branding of Islamic banks. Against this backdrop, this study aims to explore web-based information and Shariah board as a source of branding of Islamic financial institutions (IFIs). Design/methodology/approach An interpretivism-based thematic inquiry is carried out through semi-structured interviews of 22 customers of Islamic banks. Findings The findings of the study highlighted the fact that customers’ perceived web-based information is in line with the Shariah objectives but showed low level of trust on that information. They assumed that the practices are not consistent with this information. Moreover, the Shariah board members were considered as brand ambassadors, and customers valued board members more than the Shariah board and Islamic bank itself. Findings further highlight the more knowledge customers have about the Shariah board members (experience, qualification, achievements, etc.) the greater is the impact on the branding of the IFIs. Originality/value This study offers a novel perspective by considering the value of web-based information and Shariah board on branding of Islamic banks. As there is no such study available in literature, up to the best of researchers' knowledge, the qualitative inquiry may suffice the study objectives and research questions.

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