UCP Journal of Business Perspectives

Customers Experience and Perception Towards the Adaptation of Financial Services; A Special Reference to RAAST

Usman Ullah, Junaid khan, Junaid Ali Shah, Rukhsar Baloch — Mon, 25 Mar 2024 00:00:00 +0000

This study delves into the intricate landscape of the banking industry, specifically examining the transition from traditional banking experiences to the adoption of the newly introduced digital financial service, RAAST, by the State Bank of Pakistan (SBP) in January 2021. Despite extensive promotional efforts by commercial banks through advertisements and marketing campaigns, the study focuses on understanding customer perceptions and addressing challenges in embracing this digital transformation. The research encompasses a diverse sample of 250 respondents from various regions across Pakistan, and the data is meticulously analyzed using SPSS-26, incorporating the specialized Hayes extension for mediation analysis. Considering the multifaceted factors, the primary objective is to unravel the complex dynamics influencing customers' intention to use RAAST. Surprisingly, the findings reveal an insignificant direct relationship between customers' banking experiences and their intention to use RAAST. This intriguing outcome prompts a deeper exploration into the underlying factors contributing to this lack of correlation. The study goes beyond the surface to investigate the potential mediators that influence the adoption of RAAST. The mediation analysis highlights several crucial factors in shaping customer intentions. Notably, ease of use emerges as a powerful mediator, bridging the gap between the traditional banking experience and the allure of RAAST. Additionally, the study identifies the impact of television advertisements, point-of-purchase interactions, and direct marketing in mediating the relationship between existing banking experiences and the intention to use RAAST. The results suggest that while customers may not be directly swayed by their past banking experiences, various mediating factors significantly contribute to their willingness to embrace RAAST. This nuanced understanding provides valuable insights for policymakers and commercial banks, emphasizing the importance of targeted strategies that prioritize ease of use, effective television advertisements, strategic point-of-purchase engagement, and personalized direct marketing to facilitate the successful adoption of digital financial services in Pakistan.

Impact of Intrinsic and Extrinsic Rewards on Job Satisfaction of Employee: An Empirical Analysis

Aizza Anwar, Masooma Batool, Talha Ali — Mon, 25 Mar 2024 00:00:00 +0000

Within the changing business realm businesses are facing increasing pressure to ensure that their operations are meeting the industry standards and complying with customers’ needs. Dynamic organizations focus on investing on their human capital to enhance overall organizational output. The current research investigates how intrinsic and extrinsic rewards impact the job satisfaction of people working at different levels in manufacturing and services firms. Using the non-probability convenience sampling technique, the authors collected data from employees in Rawalpindi and Islamabad. The statistical analyses indicate that intrinsic and extrinsic rewards are vital to workers' job satisfaction. The current research provides valuable insights to senior management of manufacturing and services firms. It explains how they can enhance the job satisfaction of their employees, leading to enhanced productivity by offering them intrinsic and extrinsic rewards.

Impact of 2008’s Financial Crisis on Islamic Banks of Pakistan

Ayesha Latif, Muhammad Kashif Imran — Mon, 25 Mar 2024 00:00:00 +0000

The comparison of financial performance of conventional and Islamic banks is a widely discussed topic after the development of the latter. The existing literature review suggests that Islamic banks usually outperform conventional banks even during crises (Azzam & Rettab, 2020), and this may imply that the global financial crisis of 2008 had little or no impact on the Islamic banks. This empirical study aims to test this narrative and compares ratios and stock prices of all full-fledged Islamic banks of Pakistan with an objective of analyzing the impact of crisis upon profitability, efficiency, risk management, asset quality, liquidity management and stock returns of IBs through trend analysis from 2005-2020. The data collected from bank’s annual financial statements provided by official websites is used to test the hypothesis that these ratios and stock prices remain unchanged during the crisis. Through the application of One Way ANOVA methodology, the study concludes that profitability, efficiency and returns remain unaffected by the crisis whereas banks suffer because of liquidity, asset quality, and risk management. The application of t-test on different sub-periods indicates that capital adequacy and write-off ratios of Islamic banks need improvement. The impact of COVID on the performance of Islamic banks is limited. The research work implies that the bank managers and policy makers should focus on capital adequacy and write-off ratios in making future decisions.

Impact of conversion on deposits and operational cost of Faysal Bank: A case of Pakistan

Sumera Iqbal — Mon, 25 Mar 2024 00:00:00 +0000

Islamic financial industry is showing remarkable growth and has
earned confidence of both investors and the creditors. Conventional
banks are converting their business into Islamic around the globe and
Pakistan is much ahead in this regard since it has to convert all its
conventional banking into Islamic. This study is about the conversion of
Faysal Bank which the largest conversion globally rated by ‘first of its
scale’ by IIRA and AAOIFI. Finding of the study are that conversion
effect deposits positively also the bank is performing far better than
before conversion.

Testing the Economic Theory of Crime in case of Pakistan

Tanveer Ahmad Shahid, Mahwish Zafar, Amna Shafiq Minhas — Mon, 25 Mar 2024 00:00:00 +0000

In Pakistan, one of the biggest issues is crime. It has an impact on the economy in addition to society. This study's primary goal is to evaluate the economic theory of crime as it applies to Pakistan. The foremost impartial of this study were to check the relation between inflation, political stability, and income inequality with crime rate of Pakistan while implying the economic theory of crime, but regression analysis and correlation are employed to verify the impact of socioeconomic status on criminal activity. For this purpose, regression analysis was conducted. The findings of this study reveal that factors are positively associated with the dependent variable. However, the outcome of income inequality and political stability shows a negative association with crime. For this study quantitative method has been used. Furthermore, from 2004 to 2021 The Pakistan Bureau of Statistics and other sources have provided secondary data. Additionally, E-views software was utilized to measure the instruments. This study gives evidence by testing the economic theory that people move toward crime to maximize their needs.