Market orientation in non-profit organization
2013 (English)In: Proceedings of the Second International Conference on Emerging Research Paradigms in Business and Social Sciences (ERPBSS 2013), 2013Conference paper (Refereed)
Purpose – This paper illustrates how a European bank operates interest-free and how it resembles and differs from Islamic banking.
Design/Methodology/Approach – By applying a case study method, this study goes into the depth of a European bank which entirely practices interest-free banking for its saving and lending operations. Major actors of the bank have been interviewed face-to-face and on telephone. Complementary information has been received by e-mail and through printed material.
Findings – The study shows that there are some similarities between JAK and Islamic banks but differences are many. One difference lies in the service offerings as JAK only deal with savings and lending and does not get involved in profit-loss sharing which is central to Islamic banking. Islamic bank can learn from JAK how to educate their customers so that business gets clear to them.
Practical implications – By comparing with Islamic banking, the European bank management can have the idea how far they do Islamic banking and what is unique with their bank. Even both the banks have common view on interest, they differ much in offering products and carrying out operation. The European bank management has to deal with new challenges how much they can grow of being a non-profit organization in the long run.
Originality/value – This study offers a rare insight of a European bank which exclusively operates interest free and is driven like Islamic banks with ideological values.
Paper type – Case study
Place, publisher, year, edition, pages
Ideology, Trust, Network, Members, social marketing, Superior value
Economics and Business
IdentifiersURN: urn:nbn:se:hig:diva-17558OAI: oai:DiVA.org:hig-17558DiVA: diva2:748144
Second International Conference on Emerging Research Paradigms in Business and Social Sciences (ERPBSS 2013), Dubai, UAE, 26-28 November 2013