The current issue and full text archive of this journal is available on Emerald Insight at:

www.emeraldinsight.com/0265-2323.htm

IJBM
34,5
The determinants of the choice
of Islamic banks in Tunisia
Moez Ltifi
710 Higher Institute of Business Administration of Sfax, Sfax, Tunisia
Lubica Hikkerova
Received 26 November 2014 IPAG Business School, Paris, France
Revised 4 July 2015
26 August 2015 Boualem Aliouat
11 September 2015 Université Nice Sophia Antipolis, Nice, France, and
Accepted 17 September 2015
Jameleddine Gharbi
FSEG-Jendouba, Tunisia

Abstract
Purpose – The purpose of this paper is to determine the explanatory factors for the selection of
Islamic banks and evaluate the moderating role of demographic characteristics. This study seeks to
better understand these determinants in Tunisia, a country with a developing Islamic finance system
and a culture different from those in other Muslim countries studied in the literature.
Design/methodology/approach – The authors developed a two-sided approach: a quantitative
survey and 12 semi-structured interviews based on four customer segments identified by the
quantitative study. For the survey, data were collected from 180 Islamic bank clients in Tunisia.
The factors adopted for the selection of an Islamic bank are service quality, trust, and compliance with
Sharia (Islamic) law. The authors identified and measured the selection criteria using a factor analysis,
regression analysis, and demographic characteristics analysis.
Findings – Customers consider several factors while choosing an Islamic bank: the quality of service
offered by the financial institutions, trust, and (especially) compliance with Sharia law. Moreover,
gender and age appear to be the only moderators between the selection of an Islamic bank and these
determinants.
Practical implications – This study offers Islamic banks a better understanding of how Tunisian
customers select financial institutions. These banks must consider the different determinants of choice
in order to create value for consumers and prepare their marketing strategies. The authors identify
four customer segments based on gender and age by which the banks may improve their positioning
and market share, thus contributing to the development of Islamic financial institutions in Tunisia.
Originality/value – This is the first study of its kind in Tunisia, where the market share of Islamic
finance remains low. The study enriches the Islamic marketing literature on the quality of
Islamic financial institutions’ service, trust, and compliance with Sharia law. It also tests demographic
characteristics as moderators. The results and implications of this research can be applied to countries
similar to Tunisia.
Keywords Consumer behaviour, Islamic bank, Trust, Service quality
Paper type Research paper

International Journal of Bank
Marketing
Vol. 34 No. 5, 2016
pp. 710-730
© Emerald Group Publishing Limited
0265-2323
DOI 10.1108/IJBM-11-2014-0170
1. Introduction
Modern Islamic finance began with the 1975 establishment of the Islamic Development
Bank in Jeddah (Saudi Arabia) and the Dubai Islamic Bank, but its main growth is quite
recent (Shoaib, 2007). The growth of Islamic banks was particularly encouraged by
successive increases in oil prices (until 2014) and the need to recycle petrodollars
(Siagh, 2012). In 2007, Islamic banks achieved annual growth in assets of 27 percent
against only 19 percent for conventional banks (Kapur, 2008). This tendency continued
after the financial crisis; global Islamic banking assets witnessed a compound annual
growth rate of around 17 percent from 2009 to 2013 (World Islamic Banking Choice of
Competitiveness Report 2014-2015). Islamic banks
Today, Islamic banks and “windows” (a department of a conventional bank offering
Islamic financial services) are installed in many developed countries, such as the
in Tunisia
UK and Singapore, as well as in Arab and Muslim countries. In 2014, there were more
than 400 Islamic banks in over 75 countries. Islamic banks have existed in Tunisia
since the 1980s, coexisting with conventional banks. They seek to differentiate 711
themselves by offering Islamic banking products and services to their Muslim
customers.
However, Islamic finance in Tunisia remains under-developed. Banking activities
consistent with Sharia law do not exceed 2.2 percent of the banks’ total assets
(Euromoney, 2012). This situation is not unique to Tunisia; other Muslim countries,
such as Algeria, Egypt, and Turkey, are in the same situation. Therefore, empirical
studies in these countries are required to better understand the development of Islamic
finance, as the literature has focussed on Gulf Cooperation Council (GCC) countries,
Iran, and Malaysia.
Many of the factors influencing the behavior of banking customers and that can
explain the different evolution of Islamic finance – such as political systems, lifestyles,
and cultures – have not been studied; for example, the Tunisian conservative-modern
lifestyle is quite different from lifestyles in other Middle Eastern countries.
Tunisia’s banking sector is fragmented, and competition in the retail market is low.
There are three major Islamic banks: El Baraka Bank, Noor Islamic Bank, and Zitouna
Bank. The current under-development of these banks is largely a product of the
political situation before the 2011 Jasmine Revolution. The current environment is more
conducive to the development of Islamic finance, and these banks intend to take
advantage of the opportunities in Tunisia.
To be competitive, Islamic banks must understand how customers choose their
financial institutions and how their preferences are formed. Understanding the needs
and expectations of customers will allow banks to optimize their products and services
and thus establish and develop a strong relationship with them (Tsai et al., 2011).
The banking sector, a kind of service industry, is characterized by the coexistence of
Islamic banks and the Islamic windows of conventional banks. The service is
characterized by the attributes of intangibility, inseparability, heterogeneity, and
perishability (Zeithaml et al., 1985). Service providers must adapt their offerings in
order to increase profitability, satisfy customers, and develop a long-term relationship
with them (McQuilken and Pont, 2005).
Therefore, Islamic banks must know how consumers evaluate their products and
services. As the banking sector in Tunisia is composed of several competing Islamic
and conventional banks (with Islamic windows), it is important to recognize the main
determinants that motivate customers to choose a particular bank (Bizri, 2014). This
research analyzes the main determinants influencing customer decisions in Tunisia
and the potential role of the moderator variables of demographic characteristics in the
differentiated behavior of potential clients through approaches that consider these
variables as discriminatory (Ladwein, 2003) and explanatory indicators of behavior
(Hamouda and Srarfi Tabbane, 2014).
Despite the relative lack of cultural diversity in Tunisia, Tunisians’ choices vary
according to their values, beliefs, and perceptions ( Jabnoun and Khalifa, 2005; Furrer
et al., 2002). Lu and Chan (2012) argue that religious and cultural beliefs influence
consumers’ investment decisions, but this is a general and vague conclusion. There is
IJBM little differentiation among the products offered by Islamic banks (Walker et al., 2008),
34,5 yet these institutions must develop a competitive advantage through the specificities of
their products in order to acquire, satisfy, and retain new customers (Sayani and
Miniaoui, 2013; Iqbal and Mirakhor, 2007; Lopez et al., 2007). Thus, it is worthwhile
studying the more relevant explanatory factors in the selection of financial institutions
in each specific context because the results found in one country are not transposable to
712 another (Bizri, 2014).
Most studies focus on countries with strong Islamic finance cultures – such as the
GCC countries, Iran, and Malaysia – and often on a specific population, such as
students. However, to our knowledge, no study has performed market research on
Islamic financial institutions in Tunisia. In addressing this gap, our research aims to
contribute to the development of a better understanding of the determinants of Islamic
bank selection in a North African context characterized by a strong potential for
growth in this sector.
The objective of this research is to determine the explanatory factors in the selection
of Islamic banks and evaluate the moderating roles of gender and age. After reviewing
the literature on the determinants of the choice of Islamic banks, we describe
our methodology. We develop a two-sided approach – a quantitative survey and
12 semi-structured interviews based on the four customer segments identified in the
quantitative study. Then, we present the results generated by the two approaches.
Finally, we discuss the results, their managerial implications for Islamic banks, and
prospects for future research.

2. Conceptual framework and research hypotheses

The marketing exchange approach has evolved over the last few decades, while
companies have been changing their commercial methods. Traditional marketing
focussed on satisfying the needs and desires of the customer and creating an
orientation toward a product or brand without considering the social relationships
among the actors. From this perspective, communication between companies and
customers was almost non-existent; the latter were regarded as complete strangers, and
there was no interest in understanding the customer’s personality because the role of
customer relations was chiefly to respect the company’s obligations in accordance with
the terms of the exchange. This exchange, named “transactional exchange” (Dwyer
et al., 1987) or “restricted exchange,” is not sustainable, as each transaction is regarded
as unique and independent of all past and future transactions. The customer has no
preference, consideration, or loyalty concerning the seller. Reciprocally, the seller does
not express any desire to know the preferences of the customers nor their perceptions
and opinions of the service or product. This highly restrictive vision of an exchange
was criticized for its limited ability to explain customer behavior. It has been gradually
replaced by a new line of research over the past few decades, both on the theoretical
and practical levels. It focusses on the concept of “relational exchange” and makes the
relationship between the partners the main object of analysis (Oliver, 1999).
This concept of relational exchange is characterized by its realistic aspect, based on
two basic hypotheses: the continuous temporal character of the exchange process and the
existence of a social link between the two parties in the exchange (i.e. company and
customer). Cooperation between partners contributes to the success of an exchange
within a relational context; this implies a certain level of knowledge and reciprocal
understanding between the two parties, which further suggests that the development of
social links between the actors helps the partnership endure (Morgan and Hunt, 1994).
 A continued partnership between the two actors requires the reduction of uncertainty Choice of
between them, an increase in the frequency of exchanges, and a better flow of Islamic banks
information, allowing each party to gain more knowledge of the other’s expectations,
which creates an environment of shared trust and mutual commitment. It is within this
in Tunisia
framework that several studies have been conducted, in various contexts and countries,
to understand the acceptance of Islamic financial products and services, as well as the
factors that motivate customers to become clients of an Islamic bank (Bizri, 2014; Sayani 713
and Miniaoui, 2013; Jabnoun and Khalifa, 2005; Furrer et al., 2002; Nasser et al., 1999).
Given the increased competition in the banking sector, these studies provide very
useful implications concerning strategic choices, positioning, future investments,
segmentation, and other business decisions, especially in countries where the market
share of Islamic finance remains low (Galal and Mouawad, 2009). It is necessary to
identify the explanatory factors and moderating variables driving customers to choose
Islamic banks in countries like Tunisia. As those living in different cultural contexts
have varying sets of expectations, selection criteria for Islamic banks – especially
perceived service quality (Raajpoot, 2004) – can change. Personal characteristics can
also influence Islamic bank selection (Sayani and Miniaoui, 2013).

2.1 The decision to choose an Islamic bank

Bank selection is a complex process. An individual or company must choose a bank a
priori. They will make a choice among a range of financial institutions. In this choice,
several explanatory factors come into play. We try to understand the process of Islamic
bank selection and the factors highlighted in the literature involving perceived quality
of service, compliance with Sharia law (Islamic jurisprudence), and trust in the Islamic
financial institution.
2.1.1 Perception of service quality and culture. With the exponential growth of
competition in the goods and services industries, especially in the banking sector,
quality of service has become a source of competitive advantage for managers of
financial institutions (Stafford, 1996; Holstius and Kaynak, 1995). Companies try to
convince their customers that they offer better service than their competitors
(Chigamba and Fatoki, 2011).
Parasuraman et al. (1985) defined service quality as “the degree and direction of the
discrepancy between the perceptions and expectations of customer service.” Quality of
service is expressed by the reversal paradigm developed by Oliver (1980) and enhanced
by Parasuraman et al. (1985). Their model identified ten critical determinants of service
quality, which can be used to analyze the differences between customer expectations
and perceptions of service. This model suggests that customers of Islamic banks will
compare their perceptions of the services delivered by these financial institutions to
their expectations gleaned from past experiences, including with conventional banks
(Stafford, 1996).
Several recent studies found that the perceived service quality of Islamic banks
significantly influenced customers’ decisions (Bizri, 2014). Moreover, in a comparative
study between Muslim and non-Muslim customers, Erol et al. (1990) showed that both
types of customers believed that the quality and rapidity of services were the most
decisive factors in the bank-selection process.
Gerrard and Cunningham (1997) interviewed undergraduates in Singapore to
rank the importance of various bank-selection factors, finding a general accord
between Muslims and non‐Muslims on the ratings of the criteria. Quality of service,
IJBM the feeling of safety, convenience, and promotional activities were the primary
34,5 determinants of their choices.
Similarly, Dusuki and Abdullah (2007) confirmed that the quality of service,
conformity to Sharia law, and financial reputation were the determinants of Islamic
bank selection for Malaysian consumers. There are two practical implications of this
paper. First, Islamic banks must offer quality services while maintaining their Islamic
714 reputation. Second, Islamic banks should also develop good customer service policies to
reap the potential of Islamic finance.
Al-Tamimi et al. (2009) found that the most important bank-selection factor for
United Arab Emirates customers was the characteristics of bank products, followed by
service quality, and religious factors.
Moreover, Amin et al. (2009) established that banks should have a personality and
spirit of service. Islamic banks must attach great importance to the recruitment and
training of personnel who are in contact with clients to improve interpersonal
communication and increase the bank’s effectiveness in achieving the objectives of
Islamic banking.
In other countries, Hedayatnia and Eshghi (2011) and Ahmad et al. (2011)
investigated the factors determining bank selection. The former conducted a survey in
Iran, finding that the quality of service and innovation in banking services were the
most important factors for Iranian customers. Ahmad et al. (2011) interviewed 300
students at the International Islamic University of Malaysia, finding that brand, ease of
use, and quality of the customer interaction were the fundamental drivers after religion.
This study revealed the relationship component in perceptions of bank service quality.
However, consumer expectations can vary across countries. For example, Kashif
et al. (2015) revealed that the reliability dimension is not relevant for customer
satisfaction with Malaysian Islamic banks. Though Tunisia is Muslim, its culture
differs considerably from the cultures in the Middle East and Malaysia, where most
studies on Islamic banks have taken place. Consequently, it is necessary to study the
effect of perceived service quality on the decision to select an Islamic bank. Thus, our
first hypothesis is as follows:
H1. The perception of the service quality offered by an Islamic bank positively
influences the customer’s decision to become a client.
2.1.2 Trust. Trust is a central concept in marketing. Trust means willing to be
vulnerable to the actions of a third party. A consumer will not have confidence in a firm
unless they perceive a high probability that the company will provide a benefit in
which they will share (Gambetta, 2000). Trust is based on the perceived level of risk,
uncertainty, and/or vulnerability ( Jevons and Gabbott, 2000).
The paradigm of relationship marketing has been widely used in service sector
studies (Sheth and Parvatiyar, 2002). Given the specificities of services, such as the
intangibility of the offer, trust plays a key role in the relationship and interaction
between sellers and buyers (Palmatier et al., 2006). In the theory of social exchange,
commitment and trust are key elements in any exchange relationship. These two
variables are mediators in the relationship between social agents (Morgan and Hunt,
1994). Trust is among the most important factors in purchase decisions and affects
consumer behavior and preferences (Urban et al., 2000). The marketing literature shows
that customer perceptions of the firm are influenced by the level of trust. Thus, the level
of trust will influence their decision (Grewal et al., 1998).
 Nasser et al. (1999) pointed out that, in Jordan, trust is a key factor in the choice of Choice of
an Islamic bank. In a more recent study, Ahmad et al. (2011) found that, even if Islamic banks
religion is the major driver in the choice of Islamic banking, brand reputation, and
therefore trust, plays a key role because the fundamental differences between Islamic
in Tunisia
and conventional banking are poorly understood. Finally, Bizri (2014), who conducted
a survey in the Lebanese banking sector, observed that trust is a potential antecedent
of dealing with an Islamic bank. Therefore, trust should be a determinant in the 715
selection of an Islamic financial institution in Tunisia. Thus, our second hypothesis is
as follows:
H2. The customer’s trust in an Islamic bank influences his/her decision to become
a client.
2.1.3 Islamic banks’ compliance with Sharia law. Most of the literature has reported a
positive relationship between the selection of Islamic banks and religious preferences
(Souiden and Rani, 2015; Al-Ajmi et al., 2009; Okumus, 2005; Nasser et al., 1999; Metawa
and Almossawi, 1998), even if some have documented a negative relationship between
the two factors (Ahmad and Haron, 2002; Haron et al., 1994; Erol et al., 1990) or no
relationship (Gerrard and Cunningham, 1997).
When choosing a bank, Muslim clients generally base their decision on religious
grounds. These customers respect Sharia law, especially its basic principles against
charging interest (Bizri, 2014).
Islamic financial institutions promise to follow the fiqh muamalat (Islamic rules on
transactions) and are required to separate the funds and activities of Islamic banking
transactions from the non-Islamic banking business (conventional banking). All Islamic
banks have set up Sharia committees to guide them in Sharia matters and ensure that
they function in a manner consistent with Sharia law. Aside from this supervision,
customers have no other way to be sure that Islamic banks are keeping their promises
and commitments.
Thus, trust is essential in order for customers to willingly engage in activities that
generate profits without interest. Trust influences customer intentions and therefore
future behavior (Gambetta, 2000).
Trust can be seen as a byproduct of religious and moral values that reinforce the
honesty and mutual respect between the two parties to the exchange (Gambetta, 2000).
Establishing a relationship based on trust is not easy in complex societies, which is
why customers have doubts about Islamic banks. They want to ensure that the
activities of the Islamic financial institution comply with Sharia law, and that
compliance must be satisfied (Gambetta, 2000).
In fact, in the 1980s, some banks did not hesitate to use the “Islamic” label to do
business, increase sales, acquire new customers, and increase their profits, all without
complying with the principles of Sharia law. This situation crystallized doubts about
the overall banking sector (Bizri, 2014). In several Arab and Muslim countries such as
Egypt, Islamic banks invested 20 percent of their deposits in Murabaha contracts, and
the remaining 80 percent was invested in other banks that paid interest on these
deposits (Mohieldin, 1997). The prohibition of riba (interest) was clearly violated in
pursuit of other goals. This violation negatively affected customer perceptions; they
were unable to distinguish between Islamic and conventional products. This violation
and Sharia non-compliance have extended to the Middle East and North Africa
(Galal and Mouawad, 2009).
IJBM Recently, Bizri (2014) highlighted that this issue is still relevant, concluding that
34,5 an Islamic bank’s Sharia compliance positively affected the client’s intention to choose
that bank.
Therefore, it is necessary to study the relationship between customers’ perception of
a bank’s Sharia compliance and their wish to become a client of the institution.
Accordingly, our third hypothesis is as follows:
716 H3. The customer’s perception of a bank’s Sharia compliance influences his/her
decision to become a client.

2.2 Influence of demographic characteristics

Many social science disciplines, especially sociology, have contributed greatly to the
understanding of consumer behavior (Hamouda and Srarfi Tabbane, 2014). Some
studies seek to explain social phenomena driven by specific social characteristics such
as sex, age, profession, and religious denomination (Ladwein, 2003). In our study, the
power of the explanatory variables may be moderated by consumer demographics
such as age and gender. Moderator variables systematically vary the intensity, size,
and shape of the direction of an explanatory variable’s impact on a dependent variable
(Sharma et al., 1981). It is thus necessary to test the impact of the different demographic
variables to better understand the determinants of Islamic bank selection.
2.2.1 The moderating role of gender. All those involved in a firm’s marketing
strategy must consider consumers according to their gender (Popcorn and Marigold,
2000). Studies on the effects of gender on behavior began in the 1960s (Tissier-Desbordes
and Kimmel, 2002). In market segmentation, gender is one of the most commonly used
criteria (Darley and Smith, 1995; Meyers-Levy and Sternthal, 1991). Gender intervenes
at all levels of the procurement process (Mitchell and Walsh, 2004; Putrevu, 2001).
As gender can moderate evaluative judgments (Holbrook, 1986), many studies have
shown that it has a significant moderating effect. We thus propose the following:
H4. Gender moderates the consumer’s perceptions of service quality/trust/
compliance with Sharia law and the consumer’s selection of an Islamic bank.
2.2.2 The moderating role of age. Differences in consumer age can influence attitudes
and behaviors (Gretzel and Fesenmaier, 2009; Beatty and Smith, 1987; Klippel and
Sweeney, 1974). For example, it has been observed that, while young people willingly
accept new information and communication technologies, older people are more
reluctant (Cheung and Thadani, 2012); they also become more cautious and seek a
higher level of certainty in their choices and decisions (Shanas, 1968). Moreover, the
source selection of personal and business information and ways of processing
information also change with age (Liao and Fu, 2012). We thus propose the following:
H5. Age moderates the consumer’s perceptions of quality relationship/trust/
compliance with Sharia law and the consumer’s selection of an Islamic bank.
2.2.3 The moderating role of other demographic variables. Though most authors
consider gender and age to be the main drivers of behavior, other personal characteristics
can influence Islamic bank selection (Sayani and Miniaoui, 2013), such as income,
occupation, marital status, education, and previous experience with Islamic banks.
Income and occupation may influence customers’ decisions. For example, poor and
low-income earners may see Islamic banking as a way to be included in the banking
system (Islamic Social Finance Report, 2014). They may also require basic services and
have less of an interest in the quality of bank services or prices than wealthier Choice of
populations. Level of education could also play a role. Finally, the extent of customers’ Islamic banks
experience with Islamic banks may also influence their decision making. We thus
propose the following:
in Tunisia
H6. Personal characteristics (i.e. revenue, occupation, marital status, education, and past
experiences with Islamic banks) influence customers’ selection of Islamic banks.
717
3. Research methodology and data
Our empirical analysis is based on a questionnaire survey conducted in the banking
sector in Tunisia. To minimize bias, we chose to administer our questionnaire to
customers immediately after their experience with banking services. We contacted
customers leaving branches of the major retail Bank in Tunisia. The convenience
sampling method was used (Zikmund, 2000). The survey was conducted in April and
May of 2014. We followed the recommendation in Hair et al. (2008) that the sample size
be equal to at least five times the number of items in the questionnaire. To collect our
data, we distributed 250 questionnaires, of which 180 were usable when returned
(a response rate of 72 percent). In total, 70, questionnaires could not be used because of
missing data. The questionnaire was presented in French.
Our questionnaire was divided into two parts. In the first, we asked respondents to
report their demographic characteristics such as gender, age, education, occupation,
and the number of years of experience with Islamic banks. In the second, the
respondents rated the importance of the factors influencing their selection of an Islamic
bank. They assessed their preferences for various determinants of their selection on a
Likert scale of five items ranging from 1 (“strongly disagree”) to 5 (“strongly agree”).
We asked respondents to give their preferences in the following dimensions: the
perceived service quality of Islamic banking; trust in this type of bank; and the
compliance of their financial institution with Sharia law (Islamic jurisprudence).
The presentation of our sample reveals a proportional male-female balance (48 and
52 percent, respectively); 41.66 percent of them are students; 18.88 percent are
tradespeople; 23.33 percent are employees; 11.11 percent are employers; and 5 percent
are retired. We see that 50 percent of the sample are aged between 25 and 44.
Approximately 25.55 percent have less than one year of experience with Islamic banks,
48.33 percent have one to five years of experience, and the rest have more than five
years of experience. Most respondents (83 percent) earn less than 700 dinars monthly
(about €300) (Table I).
We used Cronbach’s α reliability coefficient as an indicator to measure the internal
consistency of the scale. Nunnally (1978) recommends an α greater than 0.7, but an α greater
than 0.6 is acceptable in exploratory research (Hair et al., 2008). We found an α of 0.83 for the
nine items, indicating strong consistency across the scales used in this investigation.
The data drawn from our survey were subjected to several statistical tests using
SPSS 20.0 data analysis software. Factor analysis was performed to identify the factors
affecting the decision to join Islamic banks in Tunisia. Regression analysis was
performed to assess the importance of these factors in predicting the individual’s
selection of an Islamic bank. Descriptive statistics regarding the determinants are
presented in Table II.
The Sharia compliance variable is highly correlated with other variables.
The variables are clearly interrelated due to the religious aspect of Islamic banks.
In particular, compliance with Sharia law positively influences the level of customer
IJBM Profile Number Percentage
34,5
Gender
Male 86 47.77
Female 94 52.23
Total 180 100
718 Occupational category
Student 75 41.66
Self-employed 34 18.88
Employees 42 23.33
Employers 20 11.11
Retired 9 5
Total 180 100
Level of education
Less than undergraduate 16 8.88
Undergraduate 135 75
Postgraduate 23 12.77
PhD 6 3.33
Total 180 100
Age
Less than 25 years 39 21.66
Between 25 and 34 years 54 30
Between 35 and 44 years 36 20
Between 45 and 55 years 29 16.11
More than 55 years 22 12.22
Total 180 100
Marital status
Single 99 55
Married 74 41.11
Divorced 7 3.88
Total 180 100
Monthly income
Less than 200 dinars 82 45.55
Between 200 and 500 dinars 43 23.88
Between 501 and 700 dinars 26 14.44
More than 700 dinars 29 16.11
Total 180 100
Experience with Islamic banking
Less than 1 year 46 25.55
Table I. Between 1 year and 5 years 87 48.33
Respondents’ More than 5 years 47 26.11
characteristics Total 180 100

Mean SD

Quality of service 9.33 0.98

Table II. Trust 9.28 0.87
Descriptive statistics Compliance with Sharia law 9.31 0.97
trust but negatively impacts the quality of service. This may mean that, when Choice of
customers choose to deal with Islamic banks, the prime motivation is religious, making Islamic banks
quality of service irrelevant.
We supplemented this quantitative analysis with a qualitative research approach.
in Tunisia
This type of approach allows the researcher to understand how people interpret their
experiences, how they construct their worlds, and the meaning they attribute to their
experiences. The choice of this methodology is justified by its ability to generate 719
comprehensive information used to determine customer perceptions of the attributes of
their preferences of Islamic banks and thus confirm the findings of the quantitative
approach (Merriam, 2009). Moreover, Falk and Guenther (2007) showed that this
combination of quantitative and qualitative methods effectively validated the findings
of both data sources.
We carried out 12 semi-structured interviews with respondents selected based on two
criteria, gender and age, corresponding to our hypotheses. Three men and three women
under 35 years of age and three men and three women over 35 years of age were selected.
The interviews took place in May 2014 for an average period of one hour. At the
beginning of every interview, the interviewees were given a guarantee of
confidentiality concerning their identity and data. All interviews were recorded and
reviewed several times before being transcribed in full. Four areas were covered:
(1) level of familiarity with Islamic products;
(2) reasons for becoming customers of Islamic banks;
(3) reasons for continuing being customers of Islamic banks; and
(4) religiosity and attitudes toward Islamic banks.

4. Empirical results
4.1 Factor analysis
We conducted a factor analysis to determine the factors that contributed most to a
Tunisian client’s selection of an Islamic bank. To check the adequacy of the sample, we
used Bartlett’s test of sphericity. A Kaiser-Mayer-Olkin value greater than 0.5 indicates
that the factor analysis is appropriate. The Bartlett sphericity test is used to examine
the correlation between the sampled variables. In our study, this test shows a value of
0.86, which is clearly above the threshold of 0.5. In addition, the Bartlett’s test of
sphericity was obviously significant ( p-value o 0.01), indicating that the sample data
were suitable for factor analysis.
A principal component analysis followed by varimax rotation was performed on the
variables in our study. The result generated three factors with coefficients greater than
1 (see Table III). These three factors retain 68 percent of the initial information. Thus,
factor analysis was used to determine the dominant factors in Tunisian customers’
Islamic bank selection.

Component Total % of variance Cumulative (%) Table III.

Total variance
1 (Compliance with Sharia law) 6.21 38.52 38.52 explained (rotation
2 (Quality) 4.73 18.37 56.90 sums of squared
3 (Trust) 2.51 11.26 68.17 loadings)
IJBM We note that compliance with Sharia law is the most important factor in the selection of
34,5 an Islamic bank in Tunisia, followed by quality of service and trust.

4.2 Regression analysis

Having used factor analysis to identify three factors determining the selection of an
Islamic bank in Tunisia, we are interested in the quantification of this influence.
720 A regression analysis measures the importance of each factor in predicting the
dependent variable (the selection of an Islamic bank). The model summary indicates
that the adjusted R2 (adj-R²) is 0.75 (see Table IV), which shows that the proposed
model can predict 75 percent of the selection of an Islamic bank. In addition, the F-test
shows a significant value (see Table V). Therefore, we conclude that the proposed
global model has a very high predictive power.
A careful analysis of the coefficients identifies the factors significantly influencing
the decision to choose an Islamic bank in Tunisia. Through the regression analysis
shown below, we confirm that the three factors are statistically significant (three
p-values of the student test o 0.05) and explain the decision to select an Islamic bank.
Some variables have a stronger predictive power than others because their
β coefficients are larger. Therefore, hypotheses H1-H3 are confirmed: quality of
customer service, trust, and Sharia compliance influence the consumer’s choice. The
regression equation is as follows (with c representing the constant, and b1-b3
representing the β coefficients for the explanatory variables in the equation):
P ¼ cþ b1 Compliance with Sharia þ b2 Quality of Customer Service þ b3 Trust

P ¼ 4:206 þ 0:58 Compliance with Sharia þ 0:46 Quality of Customer Serviceþ 0:39 Trust:

Multicollinearity among our three explanatory factors is low, with VIF indices below 2.

4.3 Moderating role of demographic characteristics

Before verifying the assumption concerning the moderating role of gender in the
relationship between bank selection and quality of service/confidence/Sharia compliance,
we must ensure that the condition of variance homogeneity on different levels of the
moderator variable is properly respected (Caceres and Vanhamme, 2003). We verify this
with the Levene test (Carricano and Poujol, 2008). The p-values of this test are not

Model R R2 Adjusted R² SE of the estimate

a
Table IV. 1 0.86 0.76 0.75 0.74
Regression analysis Note: aPredictor (constant) perceived quality of service, trust, and compliance with Sharia law

Model Sum of squares Mean square F Sig

1 Regression 260.42 26.04 49.23 0.00a

Residual 106.13 0.62
Table V. Total 366.56
Analysis of variance Note: aDependent variable: Islamic bank selection
significant (in Table VI, p-value ¼ 0.653/0.624/0.676). Thus, the homogeneity of variances Choice of
is satisfied. Islamic banks
The generated results reveal a significant relationship between bank selection
and the quality of service/confidence/Sharia compliance only for women. The results of
in Tunisia
the adj-R² reveal that the percentage of the variance explained is greater among women
(adj-R² ¼ 11.7 , 10.5, 13.6 percent) than among men (adj-R2 ¼ 1, 3, 0.7, 1.8 percent).
Moreover, the regression coefficients are higher (β ¼ 0.357/0.327/0.367) and more 721
significant for women (p-values of the t-test o 0.01). For all regressions, VIF indices
are below 2.
This leads us to conclude that it is actually the female clients who choose an Islamic
bank according to quality of service, trust, or Sharia compliance. Thus, H4 is
confirmed: gender moderates the perceived quality of service/trust/Sharia compliance
in the selection of an Islamic bank.
For age, the homogeneity of variances is also respected because Levene’s test was
not significant (p-values ¼ 0.493/0.471/0.493). To assess the moderating role of age on
the relationship between bank selection and quality of service/trust/Sharia compliance,
it is necessary to perform a multi-group analysis (see Table VII).
The results establish that the relationship between bank selection and the quality of
service/confidence/Sharia compliance is significant for those under 35. The percentage
of the variance explained is greater among this group (adj-R² ¼ 13.4; 12.3; 14.5 percent),
and the regression coefficients are higher (β ¼ 0.378/0.356/0.389) and more significant
( p-values of the t-test o 0.01).
Therefore, we confirm a moderating effect of age on the relationship between
choosing an Islamic bank and the quality of service/confidence/Sharia compliance.
Hence, H5 is supported: consumer age moderates the perceived quality of service/trust/
Sharia compliance in Islamic bank selection.
We tested the influence of the five other demographic characteristics: marital status,
income, occupational category, level of education, and number of years of experience
with Islamic banking. These demographic factors have no significant influence on the
customer’s decision to patronize an Islamic bank (thus, H6 is not supported); we cannot,
then, differentiate clients of Islamic banks on this basis. In particular, the extent of
experience with Islamic banking does not impact bank selection. Customers’
perceptions remain the same, and religiosity still dominates over quality of service.

Adjusted Student’s Levene’s

Subgroup Regression equation R² β t-test test

Subgroup1: men Quality of customer service ¼ 0.156 0.013 0.029 0.243 (0.724) F ¼ 0.093
(n ¼ 86) +0.098 bank selection (0.653)
Trust ¼ 0.135 + 0.074 bank selection 0.007 0.021 0.223 (0.712) F ¼ 0.076
(0.624) Table VI.
Compliance with Sharia law ¼ 0.187 0.018 0.037 0.263 (0.762) F ¼ 0.106 Analytical results
+0.118 bank selection (0.676) of two sub-groups
Subgroup 2: Quality of service ¼ 0.196 + 0.099 bank 0.117 0.357 3.789 (0.000) F ¼ 0.093 (men/women):
women (n ¼ 94) selection (0.653) relationship of bank
Trust ¼ 0.192 + 0.104 bank selection 0.105 0.327 3.754 (0.000) F ¼ 0.076 selection and quality
(0.624) of service/confidence/
Compliance with Sharia law ¼ 0.206 0.136 0.367 3.796 (0.000) F ¼ 0.106 compliance with
+0.145 bank selection (0.676) Sharia law
IJBM This study has validated the assumption concerning the moderating role of gender and
34,5 age in the relationship between bank selection and quality of service/confidence/Sharia
compliance. These results on gender and age enable us to define the four customer
segments described below; we will then examine their characteristics further through
the semi-structured interviews:
• women under 35 who are very sensitive to the three factors, particularly the
722 religious factor;
• women over 35 who are sensitive to the religious factor but less so than women in
the first category;
• men under 35 who are rather sensitive to the three factors; and
• men over 35 who are little affected by the three factors.
These interviews confirm the conclusions of our quantitative study and the finding of
Metawa and Almossawi (1998), Haque et al. (2009), Al-Ajmi et al. (2009), and Amin et al.
(2009) that the religious factor is the principal factor determining Islamic bank
selection. However, the interrogation of the four customer segments, described below,
allows a better understanding of the reasons for their choices.
For the women under 35, the interviews show that those with a low income and who
are not students are the most sensitive to the religious aspect. They decided to open an
account with an Islamic bank because of a lack of choice. They chose the branch
nearest to their home or work without considering quality of service. This result
corroborates Naser and Al-Khatib. They trust the Sharia board of their bank (which
guarantees the conformity of the products with Sharia law) without being concerned
about its composition or seeking to understand how the products work. Overall, they
are satisfied with the banks’ quality of service and their relationships with
branch employees.
For the women over 35, the religious aspect also strongly features in their decision, but,
of the secondary reasons, the recommendations of a third party and social pressure are
strong. The recommendation aspect has already been highlighted by Amin et al. (2009).
Moreover, they expect long-term satisfaction. They are ready to accept worse short-term

Adjusted Student’s Levene’s

Subgroup Regression equation R² β t-test test

Subgroup1: 34 years or Quality of customer 0.134 0.378 4.213 (0.000) F ¼ 0.583

younger (n ¼ 93) service ¼ 0.240 + 0.387 bank p ¼ 0.493
selection
Confidence ¼ 0.224 + 0.364 bank 0.123 0.356 4.124 (0.000) F ¼ 0.563
Table VII. selection p ¼ 0.471
Analytical results of Compliance with Sharia 0.145 0.389 4.256 (0.000) F ¼ 0.603
two sub-groups law ¼ 0.273 + 0.397 bank selection p ¼ 0.493
(“34 or younger”/ Subgroup 2: more than Quality of Customer 0.024 0.067 0.321 (0.865) F ¼ 0.583
over 35 years): the 35 years (n ¼ 87) service ¼ 0.316 + 0.043 bank p ¼ 0.493
relationship between selection
bank selection and Confidence ¼ 0.302 + 0.041 bank 0.005 0.036 0.312 (0.824) F ¼ 0.563
quality of service/ selection p ¼ 0.471
confidence/ Compliance with Sharia 0.026 0.075 0.346 (0.872) F ¼ 0.603
compliance with law ¼ 0.321 + 0.54 bank of p ¼ 0.493
Sharia law selection
quality of service while waiting for their bank to reach a critical size, particularly in terms Choice of
of the number of branches and ATMs in Tunisia. They show “true loyalty” (Sirdeshmukh Islamic banks
et al., 2002) to their bank because they foresee a long-term relationship and recommend
their bank to those close to them; they thus become prescriptors.
in Tunisia
The men under 35 are rather sensitive to the three factors. The quality of service is
as important as conformity with Sharia law. Another factor appears: the price of the
services. The offers from non-Islamic banks are perceived as relatively homogeneous in 723
terms of quality of service and price and appear better positioned than those of Islamic
banks. However, these elements do not appear sufficiently discriminating to influence
their choices. Thus, their satisfaction is rather average. On the other hand, some
consumers recognize that, if the quality of service became too poor and/or the prices too
high compared with conventional banks, they may leave Islamic banking.
For the men over 35, the three factors hardly affect their choice, and the religious
aspect has much less importance. Confidence, safety, and the reliability of the services
(more generally, of the bank) counterbalance the religious factor. This is true even if
these consumers establish mental links between Sharia compliance and trust on the one
hand and Sharia compliance and the reliability of Islamic banks on the other. They
think that the banks that respect Sharia law are more reliable and less likely to go
bankrupt, but they also remain vigilant concerning Sharia conformity because they
remember the “skids” of Islamic banks in the past. Thus, they are interested in the
reputation of the banks and the composition of the Sharia board. Even if this
population considers a long-term relationship, these men do not speak positively about
their bank. They have various levels of satisfaction. Their behavior could be considered
a form of “false loyalty” (Sirdeshmukh et al., 2002) because they are loyal from a
behavioral point of view but not attitudinally.
Concerning the religious aspect, the interviews established that the more the respondent
has religious aspirations, the more they adopt a positive attitude toward Islamic banks and
the greater his or her intention is to purchase its services. Thus, the religious
aspect influences the attitude and behavior of consumers simultaneously. It generates a
“true loyalty,” even if all “dimensions” of the religion do not act in the same way.
The fear of divine punishment weighs more on the attitude, whereas religious beliefs
influence the purchase intention. These exploratory results are in conformity with
those of Souiden and Rani (2015), who studied the influence of religiosity on purchase
intentions toward Islamic banks in Tunisia.
Some interviewees expressed a certain degree of skepticism about the “Islamization”
of banking services, perhaps due to the customer’s lack of knowledge about the
services offered by Islamic banks. Indeed, since these banks offer products similar to
those of conventional banks, consumers can believe that Islamic banks are a lure, an
imitation of conventional banks designed to attract people who want to manage their
money and their investments according to the precepts of their religion.

5. Discussion and conclusion

Our research had two main objectives. First, we identified the determinants of selecting
an Islamic financial institution in Tunisia. Furthermore, we assessed the moderating
role of gender and age on the choice.
In this section, we present the main results of our study by comparing them with
those in the literature. Our study highlights the role of explanatory factors such as
perceptions of service quality, trust, and Sharia compliance in an individual’s decision
to choose an Islamic bank in Tunisia. The importance of these factors varies from one
IJBM client to another. Since customers of Islamic banks rank the attributes associated with
34,5 Sharia compliance as the first priority, we conclude that they are most concerned with
the religious aspects of the financial institution. Second is the perceived quality of
service and, finally, trust in the banks. However, trust is strongly correlated with Sharia
compliance, which probably explains its final position. This is consistent with the
literature, which suggests that consumers’ trust depends on their level of perceived
724 risk, particularly regarding the financial sector (Rousseau et al., 1998). In marketing,
trust is related to the willingness of consumers to do business (Doney and Cannon,
1997). Therefore, it is essential that Islamic financial institutions promote a good image
of reliability and honesty in order to attract customers. They must also improve their
communication in order to develop customer confidence. Communication positively
affects the initial trust of customers and their readiness to trust others (Chen and
Barnes, 2007). This should not be limited to creating initial trust but should also
develop processes, means, techniques, and standards aimed at fostering sustainable
improvements in relational interactions (Palmatier, 2008). Therefore, Islamic banks in
Tunisia need to adopt ways to encourage effective communication in order to promote
customer confidence.
Concerning the quality of service offered by Islamic banks, we notice that service
delivery is a bit tricky. Most consumers are influenced by this factor, confirming the
results found by Sayani and Miniaoui (2013) and Bizri (2014). Even if this element is not
globally discriminant in an individual’s choice, the perceived service quality in Islamic
banks is lower than in conventional banks for some customers. Moreover, they may leave
Islamic banking altogether if the service quality becomes too inadequate. Customers
attach great importance to the various attributes of service quality, such as the
availability of services, the skills of employees in contact with clients, the time required
for funding approval, the personalization of contacts, and the transaction speed of
financial transactions. This is consistent with the literature, which suggests that a
banking organization can differentiate itself from its competitors by offering high-quality
services (Sayani and Miniaoui, 2013; Angur et al., 1999). This distinction may help
increase the banks’ profits, improve customer loyalty (Bennett and Higgins, 1988), and
increase its market share (Bowen and Hedges, 1993). In conclusion, these results show
that service quality is a key factor for success in Tunisia. Customers are able to
distinguish service quality among banks. Therefore, Islamic financial institutions should
focus on the quality of service as a basic strategy and competitive weapon. This will help
them distinguish themselves from their competitors and improve their position in the
market and in consumers’ perceptions (Chaoprasert and Elsey, 2004).
Our results revealed a moderating effect of gender and age between the choice of an
Islamic bank and these determinants (i.e. quality of service, trust, and compliance with
Sharia law). The other personal characteristics (i.e. income, occupation, marital status,
education, and experience with Islamic bank) are not distinguishing factors. Women are
more sensitive to the choice of Islamic bank than men. Service quality, trust, and Sharia
compliance had a greater influence on women’s choice of Islamic bank. Islamic financial
institutions should thus adopt gender as a main criterion of client segmentation and
classification. Our results are consistent with the results of other studies indicating that
women are more likely to comply (Sistrunk and McDavid, 1971) and are thus more
impressionable than men (Hamouda and Srarfi Tabbane, 2014; Aronson, 2003).
The generated results confirmed H5 – that the consumer’s age exerts a moderating
effect on the relationship between the choice of an Islamic bank and quality of service/
confidence/Sharia compliance. Our results are consistent with prior research showing
dissimilarities among age groups (Hamouda and Srarfi Tabbane, 2014). In our case, Choice of
younger consumers tend to be more influenced than older consumers. This is confirmed Islamic banks
by comparative studies between older and younger consumers (Patterson, 2007). Thus,
it appears that women and young consumers under 35-year old are the two categories
in Tunisia
most prone to be influenced to select an Islamic bank.
Our paper provides important theoretical and managerial contributions. On the
theoretical level, this work enriches the marketing literature on how the perceived 725
quality of service, trust, and compliance with Sharia law affect the selection of Islamic
banks in Tunisia, where Islamic finance is emerging and the culture differs from the
cultures of other Muslim countries studied in the literature, such as GCC or Malaysia.
It is also the first paper to deal with the moderating role of gender and age between the
choice of an Islamic bank and its determinants.
The contributions of our work are interesting not only for researchers but also for
managers and practitioners. In practical terms, this research allows managers and
leaders of Islamic banking institutions to consider the quality of service offered to
customers, trust, and Sharia compliance, factors that explain a large part of a
customer’s bank selection. Additionally, our paper provides managers and leaders of
Islamic banks a better understanding of how to achieve competitive advantage and
create value for consumers through the improvement of these factors. Moreover, we
identified four main customer segments with different expectations, for which Islamic
banks can develop specific product and communication strategies.
Our results also indicate that Islamic banks should allocate more resources to educate
future customers about their products and services as well as their current clients and
branch employees. The interviews highlighted that customers who are more familiar
with products and services that comply with Sharia law tend to patronize Islamic banks.
In spite of its theoretical and practical contributions, this paper has limitations that
must be overcome in future research. Some limitations should be considered with caution,
particularly regarding the generalization of the empirical results, as well as in the data
collection method, which was largely exploratory and conducted in one specific area. It
would be interesting to replicate this research in a wide variety of banks over several
geographic areas to allow better generalization of the results and compare them between
banks and countries where the development of Islamic finance is emerging.
The major limitation of this paper is the relatively small size of the convenience sample.
The results may not be representative of the entire population. It would be interesting to
conduct the study with a representative sample size in order to consolidate these results.
Another limitation is the need to use determinants of the choice of Islamic banks
developed in contexts different from that of Tunisia. One way could be to conduct a
qualitative study to identify potential explanatory factors for the selection of Islamic
financial institutions in the Tunisian context. For further research, we propose to
integrate other explanatory variables on the same model, such as perceived credibility,
future purchase intention, and commitment to Islamic banks.

References
Ahmad, K., Rustam, G.A. and Dent, M. (2011), “Brand preference in Islamic banking”, Journal of
Islamic Marketing, Vol. 2 No. 1, pp. 74-82.
Ahmad, N. and Haron, S. (2002), “Perceptions of Malaysian corporate customers towards Islamic
banking products and services”, International Journal of Islamic Financial Services, Vol. 3
No. 4, pp. 13-29.
IJBM Al-Ajmi, J., Abo Hussain, H. and Al-Saleh, N. (2009), “Clients of conventional and Islamic banks in
Bahrain: how they choose which bank to patronize”, International Journal of Social
34,5 Economics, Vol. 36 No. 11, pp. 1086-1112.
Al-Tamimi, H.A.H., Lafi, A.S. and Uddin, Md.H. (2009), “Bank image in the UAE: comparing
Islamic and conventional banks”, Journal of Financial Services Marketing, Vol. 14 No. 3,
pp. 232-244.
726 Amin, H., Hamid, M.R.A., Lada, S. and Baba, R. (2009), “Cluster analysis for bank customers’
selection of Islamic mortgages in Eastern Malaysia”, International Journal of Islamic and
Middle Eastern Finance and Management, Vol. 2 No. 3, pp. 213-234.
Angur, M.G., Natarajan, R. and Jahera, J.S. Jr (1999), “Service quality in the banking industry:
an assessment in a developing economy”, International Journal of Bank Marketing, Vol. 17
No. 3, pp. 116-123.
Aronson, E. (2003), The Social Animal, Macmillan, London.
Beatty, S.E. and Smith, S.M. (1987), “External search effort: an investigation across several
product categories”, Journal of Consumer Research, Vol. 14 No. 1, pp. 83-95.
Bennett, D. and Higgins, M. (1988), “Quality means more than smiles”, ABA Banking Journal,
Vol. 80 No. 6, p. 46.
Bizri, R.M. (2014), “A study of Islamic banks in the non-GCC MENA region: evidence from
Lebanon”, International Journal of Bank Marketing, Vol. 32 No. 2, pp. 130-149.
Bowen, J.W. and Hedges, R.B. (1993), “Increase service quality in retail banking”, Journal of Retail
Banking, Vol. 15 No. 1, pp. 21-28.
Caceres, R.C. and Vanhamme, J. (2003), “Les processus modérateurs et médiateurs: distinction
conceptuelle, aspects analytiques et illustrations”, Recherche et applications en Marketing,
Vol. 46.
Carricano, M. and Poujol, F. (2008), Analyse de données avec SPSS®, Pearson Education, Barcelone.
Chaoprasert, C. and Elsey, B. (2004), “Service quality improvement in Thai retail banking and its
management implications”, ABAC Journal, Vol. 24 No. 1, pp. 47-66.
Chen, Y.-H. and Barnes, S. (2007), “Initial trust and online buyer behaviour”, Industrial
Management & Data Systems, Vol. 107 No. 1, pp. 21-36.
Cheung, C.M.K. and Thadani, D.R. (2012), “The impact of electronic word-of mouth
communication: a literature analysis and integrative model”, Decision Support Systems,
Vol. 54 No. 1, pp. 461-470.
Chigamba, C. and Fatoki, O. (2011), “Factors influencing the choice of commercial banks by
university students in South Africa”, International Journal of Business and Management,
Vol. 6 No. 6, pp. 66-76.
Darley, W.K. and Smith, R.E. (1995), “Gender differences in information processing strategies:
an empirical test of the selectivity model in advertising response”, Journal of Advertising,
Vol. 24 No. 1, pp. 41-56.
Doney, P.M. and Cannon, J.P. (1997), “An examination of the nature of trust in buyer-seller
relationships”, Journal of Marketing, Vol. 61 No. 2, pp. 35-51.
Dusuki, A. and Abdullah, N. (2007), “Why do Malaysian customers patronise Islamic banks?”,
International Journal of Bank Marketing, Vol. 25 No. 3, pp. 142-160.
Dwyer, F.R., Schurr, P.H. and Oh, S. (1987), “Developing buyer-seller relationships”, Journal of
Marketing, Vol. 51, April, pp. 11-27.
Erol, C., Kaynak, E. and El-Bdour, R. (1990), “Conventional and Islamic bank: patronage
behaviour of Jordanian customers”, International Journal of Bank Marketing, Vol. 8 No. 5,
pp. 25-35.
Euromoney (2012), “Annual report”, Butterfield. Choice of
Falk, I. and Guenther, J. (2007), “Generalising from qualitative research: case studies from VET in Islamic banks
contexts.”, Evolution, Revolution or Status Quo? The New Context for VET, AVETRA in Tunisia
2007 – 10th Annual Conference, Footscray Park, 4-7 September.
Furrer, O., Ching-Liu, B.S. and Sudharshan, D. (2002), “The relationship between culture and
service quality perceptions”, Journal of Service Research, Vol. 2 No. 4, pp. 355-370.
Galal, S. and Mouawad, A. (2009), “The development of Islamic finance: Egypt as a case study”, 727
Journal of Money Laundering Control, Vol. 12 No. 1, pp. 74-87.
Gambetta, D. (2000), “Can we trust trust?”, in Gambetta, D. (Ed.), Trust: Making and Breaking
Cooperative Relations, Electronic Edition, Department of Sociology, Chapter 13, University of
Oxford, Oxford, pp. 213-237, available at: www.loa.istc.cnr.it/mostro/files/gambettaconclusion_
on_trust.pdf www.sociology.ox.ac.uk/papers/gambetta213-237.pdf (accessed August 12, 2014).
Gerrard, P. and Cunningham, J. (1997), “Islamic banking: a study in Singapore”, International
Journal of Bank Marketing, Vol. 15 No. 6, pp. 204-216.
Gretzel, U. and Fesenmaier, D.R. (2009), “Information technology: shaping the past, present, and
future of tourism”, in Jamal, T. and Robinson, M. (Eds), The SAGE Handbook of Tourist
Studies, SAGE Publications Ltd, London, pp. 558-580.
Grewal, D., Krishnan, R., Baker, J. and Borin, N. (1998), “The effect of store name, brand name, and
price discounts on consumers’ evaluations and purchase intentions”, Journal of Retailing,
Vol. 74 No. 3, pp. 331-352.
Hair, J., Bush, R. and Ortinau, D. (2008), Marketing Research, 4th ed., McGraw Hill/Irwin,
New York, NY.
Hamouda, M. and Srarfi Tabbane, R. (2014), “ Impact du BAO électronique sur l’intention
d’achat du consommateur: le rôle modérateur de l’âge et du genre”, La Revue Gestion
et Organisation, Vol. 6, pp. 39-46.
Haque, A., Osman, J. and Ismail, A. (2009), “Factor influences selection of Islamic banking: a study
on Malaysian customer preferences”, American Journal of Applied Sciences, Vol. 6 No. 5,
pp. 922-928.
Haron, S., Ahmad, N. and Planisek, S. (1994), “Bank patronage factors of Muslim and non-Muslim
customers”, International Journal of Bank Marketing, Vol. 12 No. 1, pp. 32-40.
Hedayatnia, A. and Eshghi, K. (2011), “Bank selection criteria in the Iranian retail banking
industry”, International Journal of Business and Management, Vol. 6 No. 12, pp. 222-231.
Holbrook, M.B. (1986), “Emotions in the consumption experience: toward a new model of
consumer behaviour”, in Peterson, R.A., Hoyer, W.D. and Wilson, W.R. (Eds), The Role of
Affect in Consumer Behavior: Emerging Theories and Applications, Heath, Lexington, MA,
pp. 17-52.
Holstius, K. and Kaynak, E. (1995), “Retail banking in Nordic countries: the case of Finland”,
International Journal of Bank Marketing, Vol. 13 No. 8, pp. 10-20.
Iqbal, Z. and Mirakhor, A. (2007), An Introduction to Islamic Finance: Theory and Practice,
John Wiley and Sons Ltd, Chichester.
Islamic Social Finance Report (2014), “Thomson Reuters and the Islamic Research and Training
Institute”, Zawya.
Jabnoun, N. and Khalifa, A. (2005), “A customised measure of service quality in the UAE”,
Managing Service Quality, Vol. 15 No. 4, pp. 374-388.
Jevons, C. and Gabbott, M. (2000), “Trust, brand equity and brand reality in internet business
relationships: an interdisciplinary approach”, Journal of Marketing Management, Vol. 16
No. 6, pp. 619-634.
IJBM Kapur, S. (2008), “Islamic banks post 26.7% growth rate”, Emirates Business 24/7, available at:
www.emirates247.com/eb247/news/islamic-banks-post-26-7-growth-rate-2008-03-24-1.
34,5 215919 (accessed April 12, 2014).
Kashif, M., Wan Shukran, S.S., Rehman, M.A. and Sarifuddin, S. (2015), “Customer satisfaction
and loyalty in Malaysian Islamic banks: a PAKSERV investigation”, International Journal
of Bank Marketing, Vol. 33 No. 1, pp. 23-40.
728 Klippel, R.E. and Sweeney, T.W. (1974), “The use of information sources by the aged consumer”,
The Gerontologist, Vol. 14 No. 2, pp. 163-166.
Ladwein, R. (2003), Le Comportement du consommateur et de l’acheteur, 2ème édition, Economica.
Liao, Q.V. and Fu, W.T. (2012), “Age differences in credibility judgment of online health
information”, Proceedings of the 2nd ACM SIGHIT International Health Informatics
Symposium, pp. 353-362.
Lopez, J., Hart, L.K. and Rampersad, A. (2007), “Ethnicity and customer satisfaction in the financial
services sector”, International Journal of Bank Marketing, Vol. 17 No. 3, pp. 259-274.
Lu, J.-R. and Chan, C.-M. (2012), “Religious-based portfolio selection”, Review of Financial
Economics, Vol. 21 No. 1, pp. 31-38.
Mcquilken, L. and Pont, M. (2005), “An empirical investigation of customer satisfaction and
loyalty across two divergent bank segments”, Journal of Financial Services Marketing,
Vol. 9 No. 4, pp. 344-359.
Merriam, S.B. (2009), Qualitative Research: A Guide to Design and Implementation, Jossey Bass,
San Francisco, CA.
Metawa, S.A. and Almossawi, M. (1998), “Banking behavior of Islamic bank customers:
perspectives and implications”, International Journal of Bank Marketing, Vol. 16 No. 7,
pp. 299-313.
Meyers-Levy, J. and Sternthal, B. (1991), “Gender differences in the use of message cues and
judgments”, Journal of Marketing Research, Vol. 28 No. 1, pp. 84-96.
Mitchell, V.W. and Walsh, G. (2004), “Gender differences in German consumer decision-making
styles”, Journal of Consumer Behaviour, Vol. 3 No. 4, pp. 331-346.
Mohieldin, M. (1997), “Islamic finance in Egypt”, Working Paper No. 17, The Egyptian Center for
Economic Studies, Cairo.
Morgan, R. and Hunt, S. (1994), “The commitment-trust theory of relationship marketing”, Journal
of Marketing, Vol. 58 No. 3, pp. 20-38.
Nasser, K., Jamal, A. and Al-Khatib, K. (1999), “Islamic banking: a study of customer
satisfaction and preferences in Jordan”, International Journal of Bank Marketing, Vol. 17
No. 3, pp. 135-151.
Nunnally, J.C. (1978), Psychometric Theory, 2nd ed., McGraw Hill, New York, NY.
Okumus, H.S. (2005), “Interest-free banking in Turkey: a study of customer satisfaction and bank
selection criteria”, Journal of Economic Cooperation, Vol. 26 No. 4, pp. 51-86.
Oliver, R.L. (1980), “A cognitive model of the antecedents and consequences of satisfaction
decisions”, Journal of Marketing Research, Vol. 17 No. 4, pp. 460-469.
Oliver, R.L. (1999), “Whence consumer loyalty?”, Journal of Marketing, Vol. 63, Special Issue,
pp. 33-44.
Palmatier, R. (2008), Relationship Marketing, Marketing Science Institute, Cambridge, MA.
Palmatier, R., Dant, R., Grewal, D. and Evans, K. (2006), “Factors influencing the effectiveness of
relationship marketing: a meta-analysis”, Journal of Marketing, Vol. 70 No. 4, pp. 136-153.
Parasuraman, A., Zeithaml, V.A. and Berry, L.L. (1985), “A conceptual model of service quality
and its implications for future research”, Journal of Marketing, Vol. 49 No. 4, pp. 41-50.
Patterson, I. (2007), “Information sources used by older adults for decision making about Choice of
tourist and travel destinations”, International Journal of Consumer Studies, Vol. 31 No. 5,
pp. 528-533.
Islamic banks
Popcorn, F. and Marigold, L. (2000), EVEolution: The Eight Truths of Marketing to Women,
in Tunisia
Hyperion, New York, NY.
Putrevu, S. (2001), “Exploring the origins and information processing differences between
men and women: implications for advertisers”, Academy of Marketing Science Review, 729
Vol. 10 No. 1, pp. 1-14.
Raajpoot, N. (2004), “Reconceptualizing service encounter quality”, Non-Western Service Reserch,
Vol. 7 No. 2, pp. 181-201.
Rousseau, D.M., Sitkin, S.B., Burt, R.S. and Camerer, C. (1998), “Not so different after all: a cross
discipline view of trust”, Academy of Management Review, Vol. 23 No. 3, pp. 393-404.
Sayani, H. and Miniaoui, H. (2013), “Determinants of bank selection in the United Arab Emirates”,
International Journal of Bank Marketing, Vol. 31 No. 3, pp. 206-228.
Shanas, E. (1968), Old People in Three Industrial Societies, Transaction Publishers, London.
Sharma, S., Durand, R.M. and Gur-Arie, O. (1981), “Identification and analysis of moderator
variables”, Journal of Marketing Research, Vol. 18 No. 3, pp. 291-300.
Sheth, J. and Parvatiyar, A. (2002), “Evolving relationship marketing into a discipline”, Journal of
Relationship Marketing, Vol. 1 No. 1, pp. 3-16.
Shoaib, N. (2007), “From niche to mainstream”, The Banker, November 5, pp. 130-149, available
at: www.thebanker.com/news/fullstory.php/aid/5334/From_niche_to_mainstream.html
(accessed December 8, 2013).
Siagh, L. (2012), Les arcanes de la finance Islamique, Casbah Editions, Alger.
Sirdeshmukh, D., Singh, J. and Sabol, B. (2002), “Consumer trust, value and loyalty in relational
exchanges”, Journal of Marketing, Vol. 66 No. 1, pp. 15-37.
Sistrunk, F. and McDavid, J.W. (1971), “Sex variable in conforming behaviour”, Journal of
Personality and Social Psychology, Vol. 17 No. 2, pp. 200-2007.
Souiden, N. and Rani, M. (2015), “Consumer attitudes and purchase intentions toward Islamic
banks: the influence of religiosity”, International Journal of Bank Marketing, Vol. 33 No. 2,
pp. 143-161.
Stafford, M.R. (1996), “Demographic discriminators of service quality in the banking industry”,
Journal of Services Marketing, Vol. 10 No. 4, pp. 6-22.
Tissier-Desbordes, E. and Kimmel, A.J. (2002), “Sexe, genre et marketing, définition des concepts
et analyse de la littérature”, Décisions Marketing, Vol. 26, pp. 55-69.
Tsai, W.-H., Hsu, W. and Lin, T.W. (2011), “New financial service development for banks
in Taiwan based on customer needs and expectations”, The Services Industries Journal,
Vol. 31 No. 2, pp. 215-236.
Urban, G.L., Sultan, F. and Qualls, W.J. (2000), “Placing trust at the center of your internet
strategy”, Sloan Management Review, Vol. 42 No. 1, pp. 39-48.
Walker, A., Smither, J. and Waldman, D. (2008), “A longitudinal examination of concomitant
changes in team leadership and customer satisfaction”, Personnel Psychology, Vol. 61 No. 3,
pp. 547-577.
Zeithaml, V.A., Parasuraman, A. and Berry, L.L. (1985), “Problems and strategies in services
marketing”, Journal of Marketing, Vol. 49 No. 2, pp. 33-46.
Zikmund, W.G. (2000), Business Research Methods, 6th ed., Harcourt College Publisher,
Orlando, FL.
IJBM Further reading
34,5 Berry, L.L. (2000), “Cultivating service brand equity”, Journal of the Academy of Marketing
Science, Vol. 28 No. 1, pp. 128-137.
Hamid, A. and Nordin, N.A. (2001), “A study on Islamic banking education and millennium-
Malaysian experience”, Journal of Islamic Financial Services, Vol. 2, January-March.
Kotler, P. (2000), Marketing Management, Prentice Hall, Upper Saddle River, NJ.
730
About the authors
Moez Ltifi is a PhD in Management Science at the Higher Institute of Business Administration of
Sfax, University of Sfax, Tunisia. His research interests focus on consumer behavior, banking
service, e-commerce, and digital marketing. Moez Ltifi is the corresponding author and can be
contacted at: ltifimoez2007@yahoo.fr
Lubica Hikkerova is a PhD in Management Science from the University of Banska Bystrica.
His research interests focus on yield management, marketing of services, and consumer behavior.
Boualem Aliouat is a Lecturer at the Graduate School of Business Lille, University of Lille II
and the ESMA. His research interest focus on strategic management.
Jameleddine Gharbi is a PhD in Management Science at the FSEG-Jendouba, University of
Jendouba, Tunisia. His research interests focus on consumer behavior, e-commerce, and digital
marketing.

For instructions on how to order reprints of this article, please visit our website:
www.emeraldgrouppublishing.com/licensing/reprints.htm
Or contact us for further details: permissions@emeraldinsight.com