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The branding of religious financial institutions in the UK: Conversations with market actors within the Islamic financial sector

Kok, SK The branding of religious financial institutions in the UK: Conversations with market actors within the Islamic financial sector. Journal of Islamic Marketing. ISSN 1759-0833 (Accepted)

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Abstract

Purpose We are beginning to observe the growth of Islamic finance beyond the borders of traditionally Islamic markets such as the Middle East and the Far East. The proliferation of such religious financial institutions in non-Islamic and more secular markets have raised some pertinent questions about how these quasi-religious institutions brand themselves in light of the need to balance the conflation of Islamic theology with that of financial economic principles. Methodology The study adopts a process-based qualitative methodology proceeded with an initial data reduction-theoretical conceptualisation of the extant literature. This is followed by data display via quote research of participants’ precepts and concludes with a synthesis the extant academic conceptualisations with empirical perspectives. Findings The findings highlight a framework explaining the interface between Islamic and non-Islamic participation on the branding of Islamic financial institutions in the UK. The findings also set forth a need for consideration of non-religious and purely economic participation in the Islamic financial system in light of branding. Originality This study derives its incremental contribution by extending the extant academic literature on the branding and consumption of Islamic financial products and services within non-Islamic and secular markets. Furthermore, by adopting a multi-disciplinary, qualitative lens and engaging pertinent individuals within the field, the study provides a rich framework from which to explore the branding of these quasi-religious institutions and the interface between religious and non-religious consumption. This framework puts forth to the leaders of Islamic financial institutions of the between and within group interactions in terms of religio-financial consumption and branding.

Item Type: Article
Additional Information: The AAM is deposited under the above licence and any reuse is allowed in accordance with the terms outlined by the licence. To reuse the AAM for commercial purposes, permission should be sought by contacting permissions@emeraldinsight.com.
Uncontrolled Keywords: 1505 Marketing
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
H Social Sciences > HF Commerce > HF5001 Business
H Social Sciences > HG Finance
Divisions: Business & Management (new Sep 19)
Publisher: Emerald
Date Deposited: 02 Apr 2020 09:00
Last Modified: 02 Apr 2020 09:00
Editors: Wilson, J
URI: http://researchonline.ljmu.ac.uk/id/eprint/12633

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