WADI’AH PRODUCTS IDENTIFICATION UNDER ISLAMIC PERSPECTIVE AND THEIR APPLICATION BY ISLAMIC BANKS

Abstract

This study investigates the factors influencing customer satisfaction in Wadia, specifically focusing on customer behavior, Wadia cost, quality, compliance. The study looks the different measure of some instruments i.e.-1. Customer behavior, 2. Wadia cost, 3. Wadia quality, 4. Wadia convenience and Wadia compliance and convenience and how do they all impact on customer satisfaction. This study explores the operational efficiency of Islamic banking institutions, focusing on Wadia products, to maintain expertise, trust, cost-effectiveness, and client relationships and analyzed it by using survey of about 100 responses, belong to the different age group, having varied financial status and possessing a typical social background and utilized a quantitative approach and analyzed it by multiple regression analysis using SPSS software. Our research methodology involved administering a questionnaire to gather data. Customer satisfaction served as the dependent variable, while customer behavior, Wadia cost, quality, compliance, and convenience were considered independent variables. The study elucidates the interconnectedness of these factors, offering insights into how enhancing customer behavior and wadiah specification can bolster organizational effectiveness and customer satisfaction in Islamic banking contexts. Additionally, it is recommended that Islamic banks handle wadiah products with a thorough understanding of regulatory frameworks and Wadia Products implement certain customized benefit plans and HR regulations in order to promote employee involvement and adherence to Sharia law through smart HR practices.