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J. Publicity, Propagation and Use of Media

5.3 Recommendations

Despite various problems and shortcomings, the Islamic banks have the potentiality to expand their activities to bring good to humanities.

Some suggestive measures are appended below;

i. Education institution should introduce Islamic finance and Banking as well as other related courses to supply need-based manpower for Islamic banks.

ii. Scope for training, motivation and orientation programmers for Islamic bankers should be widen and strengthened.

iii. Training needs assessment should be made to cover three different forms of training aspects of an Islamic banker.

These include:

a. Ideological, which is related to Qur'an and the Sunnah.

b. Theoretical, which covers the technical aspects of banking in equipping, an employee with knowledge about Islamic values and way of life.

c. Practical.

iv. Group discussions case study on Islamic economics, banking and finance may be introduced for the officials at different levels of operations on regular basis.

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v. A common web portal may be developed to facilitate clients in providing tips regarding Islamic banking, finance and economics.

vi. Islamic Banking Diploma Course should be introduced for all Islamic bank and the clients of the Islamic banks should be equipped with knowledge of Islamic banking through discussions, seminars, symposia etc.

vii. Islamic banks can develop unanimous Shari'ah Manual or guidelines for day to day consultation and motivation.

viii. The research and development (R. & D) for Islamic banks in countries who they do not have many branches should expand their network even to rural areas.

ix. Investment of the Islamic bank portfolio should be diversified and Extended for long-term financing under Musharakah and Mudaraba.

x. Cooperation among Islamic banks should also be extended at national level and throughout the world.

xi. The central banks of the Muslim countries can help creation of environment for Islamic banking with more responsibilities.

xii. Uniform accounting system and standards already developed by the accounting and auditing organization for Islamic financial institutions for providing consistency in

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accounting treatment of various operation and products of Islamic banks may be introduced by all concerned.

xiii. New and innovative products need to be designed for financing profit and loss sharing basis and Muslims countries, which have established Islamic banks, if involve themselves with International trade on Islamic principles, could contribute to grow international transactions under interest free system. This will further help in developing an Islamic common market.

xiv. Islamic banks should improve on the use of media and propagation of their services and products. They should adopt the use of big names in the media houses such as the CNN, BBC, Aljazeera International, Time Magazine, Harvard Business Review, and The Economist and so on.

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REFERENCES

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Abdul-Fattah, M. M. (2014) Simplified Islamic Jurisprudence (Based on the Qur'an and Sunnah) Vol. 2 Dai Al-Manara for Translation, Publications & Disiribu El-Mansouration, - Egypt.

Aftab, M. (1986): Pakistan moves to Islamic banking, The Banker, June: 5760.

Ahmad.S M. (1952): Economics of Islam, Lahore. n.d. Interest and Unemployment, Islamic Studies, Islamabad, VIII (1); 946.

Amad, Y. A. (1999): Prohibition of Riba in Islam: it's Economics Rationale Implications. Paper presented at a seminar on Emerging Opportunities Divine Banking in Nigeria. At Royal Tropicana Hotel, Kano 25 March 2007.

Alarabi, M. A. (1966) Contemporary banking transactions and Islam's views there on Islamic Review, London may, 1966 1016.

Aharbi, M. A. (1983) A monetary and financial structure for an interest free economy, institution. Mechanism and policy in Ziauddin, Ahmad at all (eds.), money and Banking in Islam, International Center for research Islamic Economics. Jeddah, and Institute of Policy Studies Islamabad.

Ariff, M. (1982): "Monetary policy in an interest-free Islamic economy, nature and scope' in M. Ariff, (ed.), Monetary and fiscal Economics of Islam, International (Centre for Research in Islamic Economics, Jeddah.

(1988) Islamic banking in Southeast Asia, institution of studies, Singapore.

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Baiyewa, T.O (2003): Research project writing, a practical guide for student in tertiary Institution.ATF federal college of education pankshin, plateau state, Nigeria.

Bello, M. S. (2004): Islamic Banking as a solution to Unethical Financial Dealings: A Literature Survey. Paper Presented at AMSA Seminar, held at the Ahmadu Bello University, Zaria.

Nigeria. 13-24 June.

Chapra, M. U. (1982): 'Money and banking in an Islamic economy' in M Ariff (ed.), above.

(1985): Toward a Just Monetary System, The Islamic Foundation, Leicester, Council of Islamic ideology (CH), Pakistan (1983);

Elimination of interest from the economy in Zisuddin, Ahmed et al. (eds).

Dakun W.S.et al (2001): A Practical Approach to Research Method and Statistics Eureka Foundation, Pankshin, Plateau State, Nigeria.

Halim, A. (1986): Sources and uses of funds: a study of Bank Islam malaysia Berhad, paper presented to 'the Seminar on Developing a System of Islamic Financial Instruments, organized by the Ministry of Finance Malaysia and the Islamic Development Bank, Kuala Lumpur.

Huq, A. (1986): Utilization of financial investments: a case study of Bangladesh, paper submitted to the Seminar on Developing a System, of Islamic Financial Instruments, organized by the Ministry of Finance Malaysia and the Islamic Development Bank, Kuala Lumpur.

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Irshad S. A. (1954): Interest-Free Banking, Orient Press of Pakistan, Karachi Kahf, M.(1982a) saving and investment functions in a two sector Islamic economy in M. Ariff (ed.) above

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Karwai, S.A (2004): Islamic economics Development: Some Reflections for the Shari'ah Implementing States, Journal of Business Administration.vol l, p1-13.

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USMANU DANFODIYO UNIVERSITY SOKOTO DEPARTMENT OF BUSINESS ADMINISTRATION, APPENDIX

QUESTIONNAIRE FOR STAFF

THE ROLE OF ISLAMIC BANKING IN THE GLOBAL FINANCIAL CRISIS:

I am a post graduate student of the above institution, undertaking a research project on the above subject matter in partial fulfillment of the requirement of the award of master degree in Business Administration (MBA).

Please note that all information supplied will be treated as confidential and shall be used for academic purpose only.

THE QUESTIONNAIRE INSTRUCTION

Please fill in the gaps and the appropriate box [ ] where applicable 1. Which bank did you work with before the Jaiz bank Nigeria Plc.

a. Jaiz bank b. Other Bank

2. Did you work under Non-interest banking department?

a. Yes b. No

3. How would you describe the level of customer's patronage to the department?

a. Very low b. Low c. Moderate d. High e. Very high

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4. Which package among the facility/services provides by the department did your customer prefer more?

a. Imaan Current account b. Musharaka financing c. Murabaha financing

5. Which account did your customer open more?

a. Non-interest current account b. Non-interest saving account c. General purpose investment account

d. Special purpose investment account e. All of the above 6. What in your opinion do you think are/were the problems of non-interest banking/Islamic banking? And what prospect do you foresee for Islamic banks.

Researcher: Mustapha Tajudeen

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USMANU DANFODIYO UNIVERSITY SOKOTO DEPARTMENT OF BUSINESS ADMINISTRATION,

APPENDIX

QUESTIONNAIRE FOR CUSTOMERS THE ROLE OF ISLAMIC BANKING IN THE GLOBAL FINANCIAL CRISIS:

I am a post graduate student of the above institution, undertaking a research project on the above subject matter in partial fulfillment of the requirement of the award of master degree in Business Administration (MBA).

Please note that all information supplied will be treated as confidential and shall be used for academic purpose only.

THE QUESTIONNAIRE INSTRUCTION

Please fill in the gaps and the appropriate box [ ] where applicable.

1. Did you ever have any transaction with the non-interest banking department of Jaiz Bank Nigeria Plc

2. What kind of relationship did you had with the department?

a. Depositor b. Debtor

3. How did you know about the non-interest banking Islamic banking system operations?

a. Through media b. Through a friend

c. Through a seminar d. Through other sources 4. Are in any way satisfied with the bank services ?