An Investigation Into Shariah Compliant Approaches and Practices on Student Loan

Abstract

Advancements in integration of latest information technology that have completely changed the way organization used to conduct their businesses in market and produce different kinds of loaning products and service to meet consumer’s obligations. Student loan plays a vital role in context for developing scale of economies. Importance of student’s loans cannot be overlooking at any case to establish scale of under develop and developed economies. Today, in the occurrences of extremely modest business environment banks plays a very important role leading towards the success of any economy. Banks perform various operational functions activities which directly connected with financial transactions. Banking financial activities are highly dependent upon household, income and savings as well. Mostly banks in the developed and under developed countries are re-examining their current systems and practices and are also looking for positive ways to deliver their integrated products over the web. Primary source of information is use for survey data collection and limit of sample size is 215 respondents working in different departments of banks that directly dealing with shariah approaches and practices. Simple random sampling method is use for data processing. Data collected banks are National Bank of Pakistan, HBL, UBL and MCB Bank. Data processing tool is recognized as SPSS software.The main functionality of SPSS software is to practically implementation various statistical tests. These statistical tests are in procedural of demographic information about users, correlation analysis, multiple regression analysis model and chi square test model to know the relationship among variables. Key words:Shariah approaches, shariah practices, process flow, bank performance and student loan.