Social influence in Predicting Islamic banking acceptance: Evidence from Morocco

Abstract

After four decades of existence, Islamic banking faces a serious problem of acceptance. Indeed, market share of Islamic financial institutions in Muslim countries is still very low. The aim of this study is to present a model based on social factors to predict Islamic banking acceptance. The model uses subjective norms, descriptive norms and Islamic identity as predictors of intention to use Islamic banking products. A survey was conducted among a sample of 481 potential customers of Islamic banks in Morocco. The results confirm the ability of the proposed model to predict 44% of intention to accept their products and services. The three constructs had a significant positive effect on intention to use Islamic banking products.