Abstract

Naveed Azeem Khattak, Khashif-Ur-Rehman* Nadeem Sofwan and Wasim Ullah

The concept of Islamic banking is not new, but is introduced in the current financial market after very long time. The Islamic banking system is getting a good percentage of the total world financial market. In the financial market there is a strong rivalry, for the Islamic banking industry (IBI) that is conventional banking system. Now the Islamic banking system must have to consider certain important factors while setting its objective, for this it must have to consider its stakeholder perception, means what its stakeholders wants, for the objective setting of the Islamic banking system, we must take the opinion of the stakeholders. For this we have to consider two major objectives of Islamic banking system. On the basis of that we got the respondent attitude. Towards the social and commercial objective and these objectives are consisting of four different variables. To get the relative importance or association of the different variables we used factor analysis. For factor analysis initially we adopted Kaiser-MeyerOlkin measures. At the end we found the difference in the opinions of the respondent regarding the both objectives; social and commercial objective respectively, that is computed by applying non-parametric statistic Kruskall-Wallis test. Finally we come to the conclusion that the stakeholder of Islamic banking system is mostly concerned, with the social objective of the Islamic banking rather than commercial objective.