Islamic Financial Services Patronizing Behavior in Tatarstan: An Exploratory Study

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Abstract

Despite the tremendous growth shown by global Islamic financial services industry, there are Muslim minority countries that have not embraced Islamic finance yet and Russian Federation is one of them. This research is aimed at investigating the people patronizing behavior towards Islamic financial services in the Republic of Tatarstan, the Russian Federation. The theory of reasoned action is adopted to examine the factors affecting Tatarstan citizens’ behavioural intention to patronize Islamic financial products and services. Sample size of 517 is available for analysis. Confirmatory factor analysis and structural equation model were used as the method of analyses. The finding shows that awareness had positively influenced people’s attitude towards Islamic financial services and subjective norms had positively influenced the intention to patronize Islamic financial institutions. This study evidences that in order to attract more people to patronize Islamic financial institutions, Islamic bankers in Tatarstan can approach people perceived important by the people of Tatarstan such as scholars and teachers.

Keywords: Islamic finance, patronizing behavior, TRA, Russia, Tatarstan

Citation:

Sabirzyanov, R. and Abduh, M. (2016). Islamic Financial Services Patronizing Behavior in Tatarstan: An Exploratory Study. Journal of Islamic Banking and Finance. Vol. 33, No. 3. (July – Sep 2016), pp. 42-53.

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