Do we need to take conversation of branding in Islamic finance?
Islamic finance has seen a steady growth in recent years not only in Muslim majority countries but has also attracted a great deal of attention from many of the global financial markets. Global investors, regulators, consumers and other market players have realised Islamic financial proposition, especially after the global financial crisis, as an alternate area of finance that provides viable, ethical and value-based financial solutions.
Branding plays a vital role in transmitting these values and core principles while providing the required recognition and reputation for not only individual Islamic financial institutions but also for the industry at large. It forms one of the key components of every business strategy which among others, lowers the acquisition costs of customers, help cross-sell products and services and achieve growth and profitability for the brand.
Why is branding important for Islamic banks?
Building successful and profitable brand names is important for Islamic banks to achieve global competitiveness and be able to stand out and differentiate its products and services from their conventional counterparts, and help maintain and increase stakeholder value. Effective branding of Islamic banks creates and builds trust with both their current and potential customers and is crucial to building a strong and loyal customer base to gain strategic, competitive and economic benefits to the institution.
Successful branding of Islamic banks will not only help understand the underlying Shariah banking principles and its value propositions but also tackle misconceptions about Islamic banking as a business model.
What is the role of CIBAFI in terms of branding in Islamic finance?
CIBAFI Global Forum will discuss this important area as to why and how branding plays a key role in today’s financial services scenario and its impact on customers; and examines how Islamic banks can balance modern banking practices with the ethos of Islamic finance.
Renowned industry speakers from branding and Islamic financial industry will discuss strategies to broaden Islamic banks’ appeal to customers from all walks of life, irrespective of their faith and affiliation. The current challenges and opportunities that Islamic financial institutions encounter are also examined in achieving their objectives to help provide world-class Shariah compliant financial services and competitive advantage to their customers.
All this and much more at CIBAFI Global Forum: “Essential Renovation of Banking Practices Towards Resilience and Shared Prosperity” | 8- 9 May 2017, Amman, Jordan
Meet the Speakers of the Session:
Please get in touch with CIBAFI Secretariat for any enquiries & registration, at email@example.com; or +973 17357300.