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FINAL PRESENTATION ISLAMIC FINANCE

FINAL PRESENTATION ISLAMIC FINANCE. TAHIRA DURRESHAHWAR 13844 SUBMITTED TO: SIR SHAKEEL AWAN. TOPIC :. CUSTOMER RELATIONSHIP MANAGEMENT IN ISLAMIC BANKING. Introduction :.

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FINAL PRESENTATION ISLAMIC FINANCE

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  1. FINAL PRESENTATIONISLAMIC FINANCE TAHIRA DURRESHAHWAR 13844 SUBMITTED TO: SIR SHAKEEL AWAN

  2. TOPIC: • CUSTOMER RELATIONSHIP MANAGEMENT IN ISLAMIC BANKING

  3. Introduction: Today, many businesses such as banks, insurance companies, and other service providers realize the importance of Customer Relationship Management (CRM) and its potential to help them acquire new customers, retain existing ones and maximizetheir lifetime value. At this point, close relationship with customers will require a strong coordination between IT and marketing departments to provide a long-term retention of selected customers. This paper deals with the role of

  4. Customer relationship Management in banking sector and the need for Customer RelationshipManagement to increase customer value by using some analytical methods in CRM applications.

  5. WHAT IS CRM: • Customer relationship management (CRM) is a model for managing a company’s interactions with current and future customers involves using technology to organize, automate, and synchronize marketing , sales,customer service, and technical support.

  6. CRM is a sound business strategy to identify the bank’s most profitable customers and prospects, and devotes time and attention to expanding account relationships with those customers through individualized marketing, repricing, discretionary decision making, and customized service-all delivered through the various sales channels that the bank uses

  7. INTRODUCTIOnOF ISLAMIC BANKING: • The thrust for Islamic Banking is founded on the desire to submit to the Divine Instructions on all transactions, particularly those involving exchange of money for money. However, it would be quite unfair to limit Islamic Banking to elimination of Ribaonly.

  8. Riba is but one of the major undesirable elements of an economic transaction, the others being Gharar (uncertainty) and Qimar(speculation). While elimination of these objectionable aspects in a transaction is indeed a critical aim of Islamic banking system, it is by no means its ultimate objective.

  9. ISLAMIC FINANCING: ASSET BASED FINANCING: • A key feature of Islamic banking is that unlike conventional banks which deal primarily in money and financial securities, Islamic financing is related to an asset that is a feature of the transaction, and quite often the principal feature itself. From this springs an important distinguishing feature of Islam wherein Islamic financing is always based on illiquid assets that have intrinsic value. Profit to Islamic financing is generated through bonafide sale of these assets.

  10. Conventional banking, on the other hand, is free of such limitations. It lends money and makes its earnings through this act of lending. Its earnings are unconcerned with the economic fate of its lending

  11. At the heart of Islamic Banking is a system of commercial transactions that not only provides Halal modes of commercial transactions by avoiding that which is obnoxious and objectionable, but also fosters ethical, fair and just practices. • A key element of Islamic economics is distribution of equitable rewards to the different factors of production

  12. CRM Objectives in Banking Sector: 1) Responses to campaigns, 2) Shipping and fulfillment dates, 3)Sales and purchase data, 4) Account information, 5) Web registration data, 6) Service and support records, 7) Demographic data, 8) Web sales

  13. A perspective • The history of Islamic banking from its recorded inception is less than 40 years old. From a humble beginning in a small village in Egypt in the late 60’s, it has spread to the four corners of the world. By normal standards in a time span that is less than half a century it could have hardly been expected to establish foothold in Muslim world, let alone make its presence felt in Muslim-minority countries. Yet such has been its phenomenal rate of growth that not only is it taking firm roots in its homestead, but is also attracting genuine interest among the standard bearers of conventional banking and in swathes of land where Muslims are a small minority only.

  14. In Pakistan, Islamic Banking is less than 3% of the Banking sector. Even in the Gulf states, where it has a larger footprint, in no single country is the volume of Islamic banking more than a third of the entire sector.

  15. Thankyou

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