engleski

Religion and Islamic Finance: Theory and Practice

The economics of religion has become a specific field of economics in recent decades. From households to markets, various economic entities, religious groups, and institutions are analysed. It is emphasized that religiosity can influence economic performance and behaviour. In addition, various studies examine the impact of religion on economic growth and development and vice versa. Islamic finance has only recently established itself in the contemporary financial world. Islamic finance, led by Islamic banks, is considered more socially responsible than conventional banking due to the profit and loss sharing paradigm. It can be said that Islamic finance isone of the attempts to develop religion- based businesses. The purpose of this study is to identify and analyse the impact of religiosity on consumer attitudes and preferences toward Islamic financial services. Islamic finance is one of the fastest growingsegments of the global financial industry today. Many factors have contributed to the strong growth of Islamic finance. Nevertheless, religion can be considered as the most important reason why customers prefer Islamic financial institutions, i.e. Islamicbanks. From the literature analysed, a huge number of research has stated that religion is a main reason for using Islamic banking services. On the other hand, some studies show that religiosity does not play a major role in the selection criteria for Islamic banks.In this paper, the research method of a literature review is used. Theoretical and empirical studies show different approaches, methods and results in analysing the relationship between religiosity and Islamic banking. The main findings of this research are the comparative analysis of different empirical scientific studies on the impact of religiosity on consumers' behaviour, attitudes and preferences towards Islamic banking products and services. It is expected that the results of this study will contribute to a better understanding of religious consumers' behaviour towards Islamic banking products.

Islamic finance industry, religiousbehaviour, religious consumer

nije evidentirano