Financial Islam - Islamic Finance
  • Home
  • News
  • The Islamic law
    • Socio-economic Justice
    • The ownership of wealth
    • Prohibition of Riba, Maysir and Gharar
    • Zakah
  • Islamic Economics
    • Shareholding in Islam
    • Loans and debts in the Sharia'h
    • The Islamic Development Bank
  • Islamic Finance
    • Financial intermediation
    • Islamic accounting
    • Financial statements analysis
    • Regulation and Supervision
      • Shari’ah Boards
      • Operations within the conventional system
    • Islamic Commercial contracts
      • Relationship with central banks
      • Valid transactions
      • Mudarabah
      • Musharakah
      • Diminishing Musharakah
      • Murabahah
      • Salam
      • Istisna'a
      • Ijarah
      • Wakalah
      • Other contracts
  • Islamic Banking Operations
    • Starting an Islamic Bank
    • Commercial transactions
    • Deposits
    • Islamic credit cards
    • Fee-based services
    • Letter of Credit
    • Bank Guarantee
    • Modes of financing and investment
      • Ijarah financing
      • Musharakah and Mudarabah certificates
      • Diminishing Musharakah
      • Replacing interest-based lending
    • Capital Market Operations
      • Islamic Unit Trusts
      • Islamic Fund Structures
      • Investment screening
      • Islamic Market Indexes
      • Islamic ETF
      • Venture Capital
      • Foreign exchange
  • Sukuk
    • Sukuk structures
    • Controversy
    • Indexation of financial obligations
    • Risks underlying Sukuk
  • Takaful
    • Takaful Agreements
    • Takaful models
    • Areas of Takaful
    • General insurance
    • Life insurance
    • Reinsurance
    • Corporate Governance
  • Glossary
  • Contact
  • Home
  • News
  • The Islamic law
    • Socio-economic Justice
    • The ownership of wealth
    • Prohibition of Riba, Maysir and Gharar
    • Zakah
  • Islamic Economics
    • Shareholding in Islam
    • Loans and debts in the Sharia'h
    • The Islamic Development Bank
  • Islamic Finance
    • Financial intermediation
    • Islamic accounting
    • Financial statements analysis
    • Regulation and Supervision
      • Shari’ah Boards
      • Operations within the conventional system
    • Islamic Commercial contracts
      • Relationship with central banks
      • Valid transactions
      • Mudarabah
      • Musharakah
      • Diminishing Musharakah
      • Murabahah
      • Salam
      • Istisna'a
      • Ijarah
      • Wakalah
      • Other contracts
  • Islamic Banking Operations
    • Starting an Islamic Bank
    • Commercial transactions
    • Deposits
    • Islamic credit cards
    • Fee-based services
    • Letter of Credit
    • Bank Guarantee
    • Modes of financing and investment
      • Ijarah financing
      • Musharakah and Mudarabah certificates
      • Diminishing Musharakah
      • Replacing interest-based lending
    • Capital Market Operations
      • Islamic Unit Trusts
      • Islamic Fund Structures
      • Investment screening
      • Islamic Market Indexes
      • Islamic ETF
      • Venture Capital
      • Foreign exchange
  • Sukuk
    • Sukuk structures
    • Controversy
    • Indexation of financial obligations
    • Risks underlying Sukuk
  • Takaful
    • Takaful Agreements
    • Takaful models
    • Areas of Takaful
    • General insurance
    • Life insurance
    • Reinsurance
    • Corporate Governance
  • Glossary
  • Contact

86% of millennial and Gen Z Muslims stressing the importance of ethical investments

4/23/2024

1 Comment

 
Picture
In light of the rise in ethical consumption, new research from leading SaaS cloud banking platform, Mambu, reveals that just over a quarter (26%) of Gen Z Muslims solely use Islamic banking, though 85% of them are interested in banking with a financial institution that offers Shariah-compliant products, an increase from 2021. 
​The findings show that 31% of Gen Z Muslims are already using a mix of traditional and Islamic banking. Making it clear that banks already have the capability to cater to the demand for Islamic banking products.

More than 560 banks worldwide adhere to Islamic principles; however, the report, titled ‘Beliefs & Business: The Shape of Islamic Finance in 2024’ reveals that 39% of Muslims don’t know that Islamic banking is a possibility. Just over a quarter (28%) of Muslims say that they don’t have easy access to banks that adhere to Islamic principles, while a fourth (25%) state that they need more from their banks and a further one-fifth (18%) don’t trust their banks’ ability to be fully Shariah-compliant.

The global research, which was first initiated in 2021 and repeated in 2024, has highlighted that although this group of consumers try to actively seek out Islamic banking products, they continue to be underserved. This presents an opportunity for financial institutions to expand their Islamic financial services in the UK given that 31% of millennial and Gen Z Muslim consumers say they use traditional/investment banking, but are considering Islamic banking.

If banks want to reach millennial and Gen Z UK Muslim consumers with Islamic financial services, they have education and access work to do first – 44% of UK respondents say the reason they don’t use Islamic banking is because they didn’t know it was a possibility – the joint highest percentage among the regions surveyed, along with Saudi Arabia. In fact, the UK is the only country where less than half of respondents (35%) say they are aware of the product range of Islamic banking.

Many banks may be under the misconception that there isn’t a demand for Islamic banking products, however, further findings revealed that faith-based and ethical values are still very important to millennial and Gen Z Muslims in the UK. 82% of them say it is important the investments the bank makes using their money does good in the world, and the same percentage say it is important these investments are ethical.

Mambu
1 Comment
Mavis Wanczyk
9/30/2024 04:55:27 pm

Being the winner of a multi-million dollar lottery certainly is a life-changing event for almost every single lottery winner. My name is Mavis Wanczyk from Chicopee, Massachusetts, the famous PowerBall lottery winner of $758 million (£591m). I know many people would wonder how I had won the lottery. Would you believe me if I told you that I did it with spell casting? I met this famous spell caster known as Doctor Odunga and he was the one who did it for me. As shocking as it was to me, my famous comment to the press was “ I’m going to go and hide in my bed.” Never did I believe that Doctor Odunga made me wealthy overnight. If you want to have your chance of winning and becoming very wealthy just like me, contact Doctor Odunga at [email protected] OR WHATS-APP HIM at +2348167159012 and you will be lucky. Thanks for reading and hope to see you at the top


FIX THE FOLLOWING PROBLEMS TO ALL ACROSS THE
GLOBE ON:

Get your ex back spell
Lottery Spell
Love/Reunion Spell
Pregnancy Spell
Protection Spell
Freedom From Prison Spell
Marriage spell
Killing/Revenge spell
Healing/Cure spell


Contact him for any of these today at:
EMAIL: [email protected] OR Call and WHATS-APP HIM +2348167159012

Reply



Leave a Reply.

    Picture

    RSS Feed

Powered by Create your own unique website with customizable templates.
Photos from Ranoush., MUSHU", Dave_B_, Open.Michigan, U.S. Secretary of Defense
  • Home
  • News
  • The Islamic law
    • Socio-economic Justice
    • The ownership of wealth
    • Prohibition of Riba, Maysir and Gharar
    • Zakah
  • Islamic Economics
    • Shareholding in Islam
    • Loans and debts in the Sharia'h
    • The Islamic Development Bank
  • Islamic Finance
    • Financial intermediation
    • Islamic accounting
    • Financial statements analysis
    • Regulation and Supervision
      • Shari’ah Boards
      • Operations within the conventional system
    • Islamic Commercial contracts
      • Relationship with central banks
      • Valid transactions
      • Mudarabah
      • Musharakah
      • Diminishing Musharakah
      • Murabahah
      • Salam
      • Istisna'a
      • Ijarah
      • Wakalah
      • Other contracts
  • Islamic Banking Operations
    • Starting an Islamic Bank
    • Commercial transactions
    • Deposits
    • Islamic credit cards
    • Fee-based services
    • Letter of Credit
    • Bank Guarantee
    • Modes of financing and investment
      • Ijarah financing
      • Musharakah and Mudarabah certificates
      • Diminishing Musharakah
      • Replacing interest-based lending
    • Capital Market Operations
      • Islamic Unit Trusts
      • Islamic Fund Structures
      • Investment screening
      • Islamic Market Indexes
      • Islamic ETF
      • Venture Capital
      • Foreign exchange
  • Sukuk
    • Sukuk structures
    • Controversy
    • Indexation of financial obligations
    • Risks underlying Sukuk
  • Takaful
    • Takaful Agreements
    • Takaful models
    • Areas of Takaful
    • General insurance
    • Life insurance
    • Reinsurance
    • Corporate Governance
  • Glossary
  • Contact