Authors: Chris I. Enyinda; Suhair Hamouri
Addresses: Department of Management and International Business, School of Business Administration, Canadian University of Dubai, UAE ' Department of Management and International Business, School of Business Administration, Canadian University of Dubai, UAE
Abstract: Muslims and non-Muslims alike are increasingly turning to Islamic banks as alternative to interest-centric conventional banks. Islamic banks exist and operate in accordance with Shariah principles enshrined in the Holy Quran. For Islamic retail banking to thrive and survive in today's competitive banking and financial services industry occasioned by a number of conventional banks opening up Islamic windows, Islamic bank managers must aggressively adopt good customer relationship marketing. Given that the recent global financial crisis had little or no impact on Islamic banks throughout the world, Muslims and non-Muslims demand for Islamic banks' products and services are on the rise. This acknowledged evidence presents a significant opportunity for Islamic banks to compete and remain successful. To do just that mandates Islamic banks to focus on utilising effective customer relationship marketing strategies to acquire and retain customers. Using a decision support model, this paper seeks to quantify the determinants of relationship marketing success in Islamic banks.
Keywords: Islamic banking; Islamic finance; retail banks; customer relationship marketing; decision support models.
International Journal of Social Entrepreneurship and Innovation, 2014 Vol.3 No.3, pp.163 - 176
Received: 27 May 2014
Accepted: 29 May 2014
Published online: 23 Jan 2015 *