Consumer preferences on Syariah based personal loan and pawnshop: a case study of Bank Rakyat Kuala Kangsar / Rozaidawati Zainul Aznam

Management of Bank Rakyat Kuala Kangsar planned to increase customers for its Syariah based personal loan and pawnshop. This exploratory study is aimed to identify the factors influencing consumers in applying for personal loan and Islamic pawnshop of the Bank. The study covers the present government servants and private workers found in Kuala Kangsar. Methods that would be used in data collection are interviews and questionnaires. The finding reveals that most of the respondents prefer to use the personal loan in future compare other financing instrument of Bank Rakyat. There are about 70% of the respondents that are delighted to use the Islamic pawnshop in future. Most of the respondents agreed that, the reason why some public refuse to use personal loan because of difficulties in searching for guarantors. Negative perceptions of public make customers reluctant to use pawnshop in getting the immediate sources of fund. Some public does not know that Bank Rakyat Kuala Kangsar operates its Islamic pawnshop. Based on the findings it is suggested that the Bank should increase promotion for their services especially for Personal Loan and Islamic Pawnshop.