Bayat, Mohamed SaheedJeeva, Shakir2022-10-052022-10-052020-10https://hdl.handle.net/10321/4336Submitted in accordance with the requirements For the degree of Degree of Doctor in Philosophy in Management Sciences in Business Administration, Durban University of Technology, Durban, South Africa, 2020.Islam, as a religion, is growing at a phenomenal rate, and with this growth, comes a greater demand for Islamic products such as Islamic banking and investment. While there have generally been Islamic offerings available in Muslim majority countries such as Malaysia, Saudi Arabia and others, these offerings are not widespread, relative to conventional financial offerings. This sporadic availability leads to a lack of offerings in other parts of the world, specifically in non-Muslim majority countries where there are growing Muslim populations, and in turn a demand for Shariahcompliant financial offerings and tools. Therefore, the researcher attempted to understand the underlying principles and parameters with which Islamic finance is permissible and can operate, specifically in investment and banking, such that a model can be derived and presented based on these parameters. Further, specific to this, the researcher sought to analyse the model within a South African context from a regulatory framework requirement, considering the current frameworks and regulations as stipulated by the government, the FSCA, the SARB, as well as the understanding, awareness, attitudes and drivers of Muslims towards current Islamic offerings within South Africa. South Africa has several Islamic offerings which are available through Islamic windows as well as fully-fledged Islamic institutions. The primary data was collected through a questionnaire and administered electronically via social media in major cities within South Africa, namely Johannesburg, Port Elizabeth, Durban and Cape Town. The study followed a crosssectional quantitative design with a sample size of N = 743. Based on the results, it was found that while the sample was generally well educated, they lacked Islamic specific knowledge. Additionally, awareness and penetration of Islamic finance products were not high, relative to the usage of conventional products. While respondents were open to making use of Islamic finance, the religious obligation was not the main and only driver, and other factors are expected to be in place by the participants such as competitive pricing, good service, and access to facilities such as branches and ATMs. The study also introduced a predictor model of consumer behaviour to measure the level of perception of the local community. The results indicated that consumer behaviour is significantly influenced by norms/attitudes and views/opinions. Recommendations were made, which totalled 18, and included increasing awareness regarding Islamic finance from providers by way of marketing through social media and education of potential customers. Also, consideration of existing alternative models which can be adapted to the Islamic principles, self-regulation and standardisation, and creating an Islamic compliant SARB facility for Islamic institutions were all discussed and commented on. Additionally, education regarding the product offerings and its benefits, as well as its relation to religious obligations, must be a key strategy not only for consumers but also for institutional staff, lawyers and regulators. Notwithstanding this, to achieve additional market penetration, other expected factors should also be in place, such as competitive pricing and service, in conjunction with education. The study was concluded with discussions, conclusions, limitations and recommendations for future research in this regard.313 penShariah, Islamic FinanceIslamic WindowShariah BoardConventional BankingHaramIslamic InvestmentIslamic BankingBanks and banking--South AfricaBanks and banking--Religious aspects--IslamIslamic lawInvestment bankingThesishttps://doi.org/10.51415/10321/4336