PERCEPTION AND ATTITUDES OF MUSLIMS AND NON-MUSLIMS TOWARD ISLAMIC BANKING IN THE WESTERN COUNTRIES: CASE STUDY OF UNITED KINGDOM

Abstract

The study aimed was to identify the challenges faced by the Islamic banking and finance industry in order to find the appropriate and suitable solution that will enable the continuation and expansion of the industry. The study attempts to define the challenges and obstacles faced by the Islamic Banking and Finance Industry in the UK. The study adapted different research methods including collecting primary data surveys. However, secondary data through descriptive analysis and logistic regression is also used. This study found that the Islamic banking and Finance Industry in the UK face a number of challenges, which may hinder and slow down its growth. The study also found that there is a great opportunity for the growth of the industry if appropriate measures are taken. Also, despite the fact that many of the responses of the population sample show that they have awareness about Islamic banking and finance, they are still hesitant about dealing with Islamic banks.