Research Topics: Islamic Bank Services In Tanzania

Awareness of Businessmen on Islamic Bank Services in Tanzania 1.0 Title             The working title of the research is initially drafted as: Study of Awareness of Businessmen on Islamic Bank Services in Tanzania. The paper presents a proposal to research, explore, evaluate and describe the current knowledge and awareness of the SME’s businessmen in Tanzania. In this proposal, the concept and principles of Islamic banking will be discussed briefly; together with the information on how the researcher will implement the study.   2.0 Background of the Study             The Islamic Financial system has different rules and laws as its basic framework, which focuses on economic, social, political and cultural aspects of the entire Islamic communities. The said principles can be categorized as prohibition of interest, risk sharing, money as possible capital, prohibition of speculative behavior, sanctity of contracts and Sharia-approved activities. Primarily, the main precept of the system is riba, meaning ‘an excess’ and interpreted as ‘any unjustifiable increase of capital whether in loans or sales’. According to Iqbal (1997), “any positive, fixed, predetermined rate tied to the maturity and the amount of principal is considered riba and is prohibited. The general consensus among Islamic scholars is that riba covers not only usury but also the charging of “interest” as widely practiced.” Since interest is prohibited, suppliers of fund become investors and not creditors, thus sharing business risk in return for shares of the profits. Money becomes actual capital only when it joins hands with other resources to undertake a productive activity; Islam recognizes the time value of money. Moreover, hoarding and transactions that features extreme uncertainties, gambling, and risks are prohibited. Islam upholds contractual obligations and the disclosure of information as a sacred duty and that business activities that do not violate the rules of Sharia qualify for investment.     3.0 Objectives of the Study             The main aim of the study is to analyze and evaluate the current awareness of businessmen on Islamic Bank services in Tanzania. In line with this, the following are the specific objectives of the study: ·         to present the current Islamic Banking system in Tanzania; ·         to assess the perceptions of businessmen towards the banking system; and ·         to evaluate the knowledge and appreciation of businessmen towards Islamic Bank services in Tanzania.   4.0 Methodology             The research study will use the descriptive method. It is a research which intends to present facts regarding the nature and status of a situation, as it exists at the time of the Study (Creswell 1994). Furthermore, it also concerns with the connections and practices which exists, beliefs and processes that are ongoing, effects that are being felt as well as trends that are current developing (Best 1970). Due to limited time, this study will be cross-sectional.   4.1 Data Collection             The primary data for this study will be gathered via survey questionnaire and interview. Survey questionnaire will use Likert which will enable the respondents to indicate the level of his/her agreement towards the statement given, with connection to the services of Islamic Banks in Tanzania. On the other hand, interview will help in order to gather information which cannot be catered by the survey interview.     4.2 Sample Frame             Random sampling will be used in this study in order to ensure that the entire population will be represented. The name of the businessmen will be listed, gathered from the security and exchange commission, focusing on SME or small and medium enterprise in Tanzania. The name will be listed in piece of paper will be drawn. This will ensure to prevent bias due to personal and professional aspect of the researcher. The target number of respondents is 50.   4.3 Data Analysis The data results of the study will be analyzed by determining their corresponding frequency, percentage and weighted mean. The following statistical formulas will be used:   1.         Percentage – to determine the magnitude of the responses to the questionnaire.             n % = ——– x 100            ;           n – number of responses             N                                  N – total number of respondents   2.         Weighted Mean             f1x1 + f2x2 + f3x3 + f4x4 + f5x5 x = ———————————————;                                     xt where: f – weight given to each response                         x – number of responses                         xt – total number of responses   4.4 Timetable   		 		June 		 		July 		 		August 		 		September 		 		1 		 		2 		 		3 		 		4 		 		5 		 		6 		 		7 		 		8 		 		Problem 		 		Identification                 		 		Literature 		 		Review                 		 		Research 		 		Design                 		 		Choice of 		 		Methodology                 		 		Data 		 		Sources                 		 		Data 		 		Collection                 		 		Data 		 		Analysis                 		 		Writing up 		 		Draft                 		 		Editing                 		 		Final 		 		Document                 		 		Binding of 		 		Document                   5.0 References   Best, J W 1970, Research in Education, 2nd Ed. Prentice Hall, Inc., Englewood Cliffs, N.J.   Creswell, J W 1994, Research design: Qualitative and quantitative approaches. Thousand Oaks, Sage, California.   Iqbal, A 1997, Islamic Financial Systems, World Bank Publications.   Credit:ivythesis.typepad.com

Awareness of Businessmen on Islamic Bank Services in Tanzania

Awareness of Businessmen on Islamic Bank Services in Tanzania 1.0 Title The working title of the research is initial...