The Determinants of Bank Selection Criteria Among Students of Higher Learning and Their Implications for the Islamic Banking Industry in Oman

DOI

10.2991/978-94-6463-110-4_7How to use a DOI?

Keywords

Determinants; Banks selection Criteria; students of Higher Education; Implication; Islamic banking Industry; Oman

Abstract

The overall goal of this study is to investigate the most important determinants of bank selection criteria among higher education students and their implications for the Islamic banking industry in Oman. To achieve this objective, this study used a quantitative research method in which questionnaires were distributed to 350 students via an online weblink. The data was analyzed using descriptive statistics and one-way multivariate analysis of variance (MANOVA). The findings revealed that the most important factors that students consider when choosing a bank are the adoption of advanced banking technologies such as internet and mobile banking, greater access to bank ATM facilities, delivering superior quality services, and reasonable prices for banking products and services. While the values of Islamic banks and peer and family influence are the least important factors. The one-way MANOVA results show no differences in male and female perspectives on bank selection criteria. Nevertheless, women respondents, place a higher value on convenience of services and adoption of advanced banking technologies than men. Students, in fact, place a greater emphasis on banking technologies and high-quality services. As a result, we recommend that Islamic banks adopt advanced digital banking capabilities that leverage the Internet, mobile devices, and social media integrations to make financial transactions more automated, user- friendly, and convenient, thereby increasing customer satisfaction. This will attract a high- tech-savvy youth population, increasing the customer base, and efficiency of Islamic banks.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Umar Ahmed
AU  - Bashir Ahmad Fida
AU  - Afra Ali Al Asmi
PY  - 2023
DA  - 2023/01/30
TI  - The Determinants of Bank Selection Criteria Among Students of Higher Learning and Their Implications for the Islamic Banking Industry in Oman
BT  - Proceedings of the 1st International Conference on Innovation in Information Technology and Business (ICIITB 2022)
PB  - Atlantis Press
SP  - 70
EP  - 82
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-110-4_7
DO  - 10.2991/978-94-6463-110-4_7
ID  - Ahmed2023
ER  -