ISLAMIC BANKING RODUCTS AWARENESS AMONG ISLAMIC BANKS’ CUSTOMERS IN NORTHEN NIGERIA

This paper analysed the level of customers’ awareness about unique Islamic banking products in Nigeria. The data used for the study was obtained through the distribution of well-structured questionnaires among the Islamic banking customers in which out of 400 sampled respondents, 370 questionnaires were properly filled and returned (that is, a 92.5% response rate) for further analysis. Also, to ensure proper data triangulation in this research, a semi-structured interview was conducted among the Jaiz Bank officials. Using descriptive statistics, the result indicated more than 50% of the customers were not aware of such unique products, though the level of this awareness differs from one product to another as some customers have had practical experience with some of these products like in case of murabahah and ijara. Therefore, the study recommends that, improving information dissemination about Islamic banking products will go a long way in enhancing the consumers’ perception and adoption of this unique system of banking, which will eventually make more individuals to be financially included due to the spiritual, economic and ethical considerations of Islamic financial system.