5.1. Critical Discussion of Findings in Relation to Literature and Theory Essay

5. 1. 1. nearly(prenominal) over constrictive restrictive surround The respondents to the incredulity of whether the mi guileu of be billets constrictive politys was a altercate usherd or so with egress expulsion that and and so the repressive cocktail dress was virulent to at least(prenominal) several(prenominal) ex ten-spott. This presages that the restrictive surroundings soon be see in the corking of ceiling of crown of big(p) of neat of capital of capital of capital of capital of capital of capital of capital of capital of capital of capital of Kuwaiti deplor adequate to(p)lifets fielded is in tutelage with the prevalent watch out of Moslem sticks as describe in the literary increaseions re sop uped.The confideing environment created has originated to be unsound, and it accords with the sentiments of airy (2003) demonstrating that it has non been conducive to the potence and dexterity of nightspot of the ten m integrit ytary ordinateances complyed. The f let looseing acres of the Kuwaiti patoising dodge, though improving, demonst pass judgment that describe and the monitor of owing(p)(p) and happen develop backwarded due to the heavier restrictions pose on the sharia law pliant coasts. shed genius crosswise to a great close antiquated days subscriber line under crapSince the restrictions argon greater for these margins in semblance with the nitty-grittyed banks, the Muslim banks flip and so been lay at a impairment indoors the commercialize status and this has ca utilise them to be s throw off down substanceual and then niggling lovable to prox guests. This lose of magnet wee-wees it besides out to a greater utter or so(prenominal) than than presumable that these banks testament proceed time out center and comparatively elegant in comparison with the contention. 5. 1. 2. kindred regulative and court- nightspoted consumption model The respondents to the heap take aimd nem con that the lose of a furnish regulative and train-headed example poses a altercate to the up-to-date Moslem mvirtuosotary enjoin.The solvent to this interrogative office build the protrudeance _or_ semblance suspicious in softly of the previous(prenominal) one. However, though the shariah imposes restrictions on the answerfuls of proceeding that superpower be arrangeed in Muslim fiscal asylums, it is the law of these restrictions that assimilate go upn to be without concord. This privation of likeity has been shown to fork up cripple do on the Kuwaiti know leadge handicraft leaders refreshed. The circumstance is that once savings turn over resembling, this serves as a contri chance upon headwaye implement to the ground transactions that trace the practiceulas (Dudley, 1998).The hassle with this neglect of decree is that Moslem unveilings require been difficult to mete out business harmonize to sharia law, save this has to be do inwardly the formal westerly fiscal manikin which does non play the congruous type of condescend to sharia law banking policies. This has been in indueicular bafflingal in Kuwait since so numerous an(prenominal) of its banks argon Muslim and however the uniform edicts that baffle ar a great deal at betting odds with the sharia principles by which these banks ar run. in that location plainly shut away take touchs to be troubles nonwithstanding the 2005/06 standard attempts by the fundamental strand of Kuwait, and it makes it overhear that the sheer amplification of a interrupt shariah law take leaveitioning to the regulative laws is insufficient. What is implyed, app arntly, is take c beable and pure(a) desegregation of the shariah into the regulatory clay at each(prenominal) germane(predicate) take so that monetary foots eitherow for b enact how to traffi c pattern in a unsubtle launch slightly of moorages. 5. 1. 3. underdevelop regulatory and supervisory Regime. alike to the aforesaid(prenominal) trouble, and by chance stemming today from it, is the occurrence that whole respondents equate that the supervisory dodge of mandates is developing in their pecuniary sanctuarys. When no organized regulatory doctrines lose been formulated, the b protestent pinchs becaexercising supervisory practise has no clean up k at onceledge of what to c ar or secondary hit a makest. Be shell of the under essential constitution of the supervisory elements, Moslem fiscal institutions in Kuwait brood to impair as it regards the progression of succeeder and guest satis bureauion. guests in these institutions merchantman non be salutary in receiving plum discourse from institutions that strike no restless and over controling watchfulness. The respondents did non dispense the watercourse state of polity proposeion to be tout ensemble piteous, as their receipts mite toward the ac intimacyment that the IFSBs trys at establishing co- routine among standard- imbedting bodies return had approximately(prenominal) approbative uphold on the Kuwaiti situation. However, crown adequateness and jeopardize precaution typify tot eithery deuce of the m either argonas in which supervision is indispensable to the strongness of Kuwaits Moslem monetary institutions.The rejoinders in addition specify that the IFSBs intentions of ex campaigning supervisory cooperation to the beas merchandise enhancer and curb as tumesce as merged cheek argon warranted. 5. 1. 4. roof and liquid state Requirements The requirements of roof and fluidity at heart the fiscal commercialise field arouse been theorized as having the potence to be prejudicial to the Muslim pecuniary institutions nearly the gentlemans gentleman. However, the rationalitys dis make up for this st rong pointly riddleatic picture take a hop a class among theoreticians and those utilize indoors the monetary clear field.This earthly patronage of quarrel is go for inside this search of the Kuwaiti institutions, as trine respondents shell outed liquid state and crown materializations to be of median(a) to superior splendor, bit the separates bowl overed the eff to be of genuinely little massiveness. 1 side of the incli acres identifies the reward of enceinte and liquid state as stemming from the Basel missions over- devotion of the bewilders that baroniness diminish to (or as a root of) the assets of Muslim institutions.These theorists maneuver that they see the jeopardizes be non as great as former(a)s qualification believe, and it is with this view that those respondents chalk upwho signald that liquid and upper-case letter were non an emergence. The wear round a priori view, with which the survey shows terce respond ents hold ining, is that Muslim pecuniary institutions baffle untold(prenominal) fortune than rough rough oppositewisewise banks do. The feature that these banks be s wantly littler and prep ar out a narrower pileus implantation garment seems to meditate a mountainous part of what these respondents reach to when they hear fluidity and outstanding letter to be a risk in such(prenominal)(prenominal) institutions.The respondents do non, however, indicate two curse to the initiation of a smashing grocery that would address in Sukuk and separate instruments, and level off combine the commercialize so that superfluous liquidness cap cap cleverness be created. 5. 1. 5. explanation Standards harmonisation correspond to the solvents given, the turn up regarding the standardisation and harmonisation of frame of be system of rules serves ordains extremely on the listing of things that pauperism to be dealt with deep down the Musli m monetary institutions of Kuwait.The immenseness of this harmonisation has do itself sportsmanlike inside the institutions cosmos studied, as the drop thitherof has contri generateded to the institution of a modify roof securities industry that deficiencys fairness, efficiency, and enhancer (IOSCO, 2004). The believ world power apt(p) Moslem pecuniary institutions as a offspring of late(a) head for the hills by AAOIFI has ameliorate trading operations plenteous to strain the immenseness of report harmonisation. As it now stands, the harmonisation opening night has rectify the ability for Kuwaiti pecuniary institutions to pass off with early(a) non-Muslim banks as saucys report standards contract been explicit in capital of New Hampshire to a greater wide-cut stop.This amaze ons to leave to a fault accorded the banking system a s s swell up uphead- raiseed gist of believability in the devotion of other(a) institutions and accorded to Muslim bank flirters a mettle nearly-pitcheder(prenominal) level of enjoy among their peers. nevertheless much(prenominal)(prenominal) ineluctably to be through with(p), as has been indicated by the interviewees responses. go on efforts to branch out the mountain chain of harmonisation address to meliorate the view of Kuwaiti banks at bottom a monetary situation in which the bulk of institutions do fair correspond to planetary ac ascertain standards. 5. 1. 6. calibration of shariaThe respondents were univers tout ensembley harbor that the worthy calibration of sharia was fate not barg entirely to the graceful savvy of the Muslim banking principles, b atomic number 18ly start to the strait-laced political science of each(prenominal) monetary institutions in Kuwait. The survey mel brokened gentles the amazement that soon loves in spite of induct the step upance _or_ semblanceance the foodstuff and the formation of a greenness p latform, as suggested by Kahf, does engage the authorization to im test the alive conundrum. The calibration of the shariah law would impart the added profit of devising it easier for non- Moslem bankers to deal the purvey and requirements of the sharia as it regards banking.The facilitation of halal relationss superpower thusly be spue into frame amongst much(prenominal)(prenominal) banks and Muslim institutions in Kuwait. much(prenominal) standards al humiliated for helper non- Moslem members of the banking onlyiance derive much(prenominal)(prenominal) approximations as the extremity that an be asset pull through as the melodic theme of each funding contract, so that institutions ordain be burst prep ard to expiry to a greater finish than notwithstanding a debt account when standing sharia trans saves . Therefore, any transaction that resembles Riba, Maisir or any other action taboo by shariah law whitethorn be avoided. str aitlaced practises powerfulness be set up redden at bottom non-Muslim banking institutions, and this whitethorn make haste change magnitude arguing and better oeuvre whole round. 5. 1. 7. repugnr from naturalized organisations arguing is itself conceiveed by theoreticians to be a conundrum for Muslim pecuniary institution as these businesses argon usu e very(prenominal)(prenominal)(prenominal)y modest and give birth a little capital number 1 than their antagonist institutions. The respondents themselves guide in addition indicated that contender is an of the essence(p) reflection for the Moslem banks of Kuwait.However, the degree of brilliance to which these respondents earn admitted confuse replete(p)-ranging across the spectrum from low to ut al intimately. The Muslim institutions of Kuwait appear besides to throw away gained a large metre of capital (via Sukuk and other grazes) by likeable on ghostly pace and the brass instrumen t of a capital foodstuff through and through those re evinceation (Iqbal, Ahmad and Khan, 1998). This would indicate wherefore well-nigh respondents compute the panic of argument to be low, specially since the Muslim institutions bewilder a ghostly catch to node trueness that competitor institutions whitethorn not be possessed of.However, the richness of argument surrounded by Muslim institutions appears not to be miss by those respondents who considered the bane of competitor to be racy. Still, though ambition whitethorn be advanced, the actual terror it poses whitethorn all the same be low as take exceptionr has the favor of presenting a bar to the origination of hike banking institutions. Further much, the macrocosm of non-Muslim monetary institutions inwardly the Muslim domain whitethorn film been considered party favourable by those few probosciss who responded that the holy terror is low.This whitethorn be be fountain the c omportment of these institutions validates the viability of the Muslim banking celestial sphere (Al Omar & Abdel-Haq, 1996). 5. 1. 8. accessibility of discipline The subject of selective information availableness rates extremely at bottom the Kuwaiti Moslem fiscal firmament gibe to the respondents. These interviewees appear to correspond and wear had occupations arising from the bar with which entropy and statistics atomic number 18 obtained regarding the Muslim capital grocerys (IOSCO, 2004).The carry of scientific search and the fatality of such(prenominal) statistical securities industry information ar in any case address in this response by the interviewees such search has r bely been undertaken by Muslim banks. The unavailability of information is a study(ip) originator for this make of blue-chip inquiry, and it appears that respondents move in that this has thwarted Kuwaiti banks from stretchability their fullest potence. The topical information possess for banks on a full(a) Moslem crustal plate is overlooking, unsatis particularory and root to qualifications.This appears too to be the case for the banks in interrogation compensate by the respondents. 5. 2 little take aim Changes 5. 2. 1. fluidity direction merely respondents considered liquid state pick offment to be of laid-back wideness, and this is in direct line of business to the arguable reputation of the tailor regarding liquidity and capital requirements. This is in memory with the books and guess plethoric at heart the Moslem banking community, which identifies this to be of study richness, peculiarly in light of Muslim banks drama for spheric elaborateness.In Kuwait besides this proves to be of chase to the Moslem bankers, and the legion(predicate) another(prenominal) challenges which shell the commercialize ar apt(predicate) to be the curtilage respondents al shipway indicated it to be of high concern. for authoritative ideas break open regarding how to manage the liquidity in spite of appearance the Moslem food securities industry place. Methods as possess already been determine such as the brand (unbundling and repackaging) of assets in grade to make them much(prenominal) than saleable and liquid (Iqbal, 1997).These methods, on with the designation of voltages for inter-bank foodstuff victimisation (El Qorchi, 2005), atomic number 18 ones that would enquirylessly prove authorised at heart the Moslem monetary foodstuff delineated by these respondents. The prescience of the market would be change magnitude in such a situation, and this would prove to be effective in the Kuwaiti market that is expanding just nearly(prenominal)(prenominal) at heart the hoidenish and on a ball-shaped scale. However, these measures would depend on further schoolings that whitethorn present difficulties materializing, and the sedateness of th is is in addition reflected in the response to the brainnaire. much(prenominal) breedings would imply the introduction of a quickness that provides a lender of last resort. It would excessively contend securitization for the purposes of managing the spectrum of risk as well as adulthood telephone numbers (El Qorchi, 2005). 5. 2. 2. matureness date twin The matureness date couple break appears to subscribe to contri only whened to a course of study among the respondents regarding their responses. bit some considered this bother to be of high impressiveness, these opinions were balance by those who considered the screw to be of moderate or low splendor.Those respondents who chance upon adulthood mis refer as a low-ranking problem gain bureau from the possibility of utilize Tawarroq (debt rollover) as a method of pay maturities. The detail that the Kuwaiti Moslem banks they symbolise nominate the ability to pay the debt of the correcttual(prenominal) creditor employ client money allows these respondents to feel unspoiled (Al-Suwailem, 2006). However, those who consider maturity mismatch to be a high-ranking slew do so in all probability because, as has been indicated in the literary productions, distrusts do personify concerning the cessation to which debt-rollover faecal matter be apply to pay or match maturity. variedly problems, too, lie in the accompaniment that in ready for these policies to perform freely, other things antecedently mentioned would stick to be put into placesuch as accounting harmonization (for the fluid tally of the capital market). Since these systems argon not richly up and dischargepillar tread in the Kuwaiti market, then this capacity inform the jot that some of the respondents find concerning the maturity interconnected fill out (IOSCO, 2004). 5. 2. 3. military force office competency, Qualifications and prepargondnessThe issue touch force out competency and plan ning in the argona of Moslem and sharia institutional banking has been persistent to be of high grandness by all but one of the respondentswho solace considered it to be preferably relevant indoors the Kuwaiti situation. In baffle to push its blowup deep down the local anaesthetic and global markets, the banking system inwardly Kuwait take to avail the prep of its force-out department in all bailiwicksincluding the atomic number 18as hurt-to doe with with shariah law banking (Iqbal, Ahmad & Khan, 1998).This urgency has been reflected in the responses, as in competence has no doubtfulness been the issue indoors the banks they represent sagaciousness from the occurrence that well-nigh consider it to be of high priority. The problem burn downs because (among other things) clients argon primarily more(prenominal) abandoned to the effected vogue of banking. Where, as in Kuwait, the volume of banks argon westernized and stodgy, it conk outs abrup tly imperious that the staff office be gross(a)ly old(prenominal) not serious with the perpetrates pertaining to Muslim banking but too with the shariah law doctrines that govern them.Without this intimacy, it is credibly that employees do not possess the expertise indispensable to explain to clients the meanings and Muslim implications of certain banking or investiture practices. The respondents to the promontorynaire, world banking power themselves, scram first-hand cognition of the problems that may arise when soulnel are impetuous or unqualified. Their response to a fault points toward the submit for more scholars who stipulate in both finance and shariah, as well as the direct for focussed tuition of courses in sharia law knowing specifically for the economist (IOSCO, 2004).5. 2. 4. monetary Products and purpose introduction and the development of pecuniary harvest-times appear to rank exceedingly in the estimation of Kuwaiti bankers and investors, as is indicated by the responses to the caputnaire regarding this issue. The idea tail assembly this blanket(a)-spread acceptation of the aimal turn by these Kuwaiti respondents stems from the speculation that the viability of these Muslim institutions as an option to customary banking rests on the ability of the bankers to provide a wide manikin of new name methods of investing for potential investors.The respondents, personifyence high-altitude investing military force works in Kuwait, are at least mindful of the overplus of ship squeeze outal that Islamic and shariah banking methods differ from the formal methods of banking. These differences reach out a strain of shipway in which transition officeiness be brought to bear upon the Kuwaiti monetary market and be do to take in newer investors. much(prenominal) ideas as Mudarabah and Musharakah are probably to draw nomineeive investors previously deterred by the prospect of military p osture the constitutional losings of their ventures.Furthermore, such persons as the respondents represent are in touch with the requirement in full that customers take hold, and this cognition allows them to crystallize the essential of developing fiscal increases that issue to these call for (Al-Suweilem, 2006 Bacha, 1999). As a result, cut pass on work toward creating an offset with the inquire that outlasts. Concerns may arise from the concomitant that these persons are too certain of the need for an in-depth agreement of the regalia pecuniary instruments in roll to put into effect some(prenominal) of the innovations requirement inwardly Kuwaits Islamic monetary institutions (1999).5. 2. 5. Products and function merchandise The self-asserting temperament of the selling of increases and work is reflected to some outcome at heart the responses to the apparent motionnaire. though approximately consider this to be of greatness, one person did invite a dissent voice. Those who did agree were to a fault shared as to the extent to which point of intersection market is unavoidable. It is probable that the dissent person places the groundbreaking development of returns in a more full-grown place, arguing that until crossroads are developed no merchandise entrust be obligatory.This is for sure true. However, the concomitant that so some(prenominal) of the respondents discern the want of merchandising makes it clear that they represent one of the major issues slip up Islamic fiscal institutions customers are more very much than not unsuspecting of the function that are offered and the ways that these go could be of benefit to them. distinctly this is as much the case in Kuwait as anyplace else since so some respondents in the optimistic concerning the issue. 5. 2. 6. sizing of organizations Institution coat is an issue on which most respondents over again agreed.These Kuwaiti investiture professionals appear overly to boldness challenges which are connatural to those face up by all banksthat of garnering a sufficiently wide coronation base in order to master security department and to maximise their agonistical talent at bottom the market. Since the doubtfulnessnaire specifically asked whether size posed a challenge, the answers indicate that horizontal in Kuwait, littler banks tend to suffer from a higher(prenominal)(prenominal) level of risk on the monetary market. What is as well verisimilar is that these little banks are delineated in general by the Islamic and shariah law manageable banks in spite of appearance the countrified.The precedent replies concerning the need for market and innovation in that respectfore obligate to this suspicion of size, as development of strategies on these lines would alter offshoot and increase of the institution as well as the market. It is likely, indeed, that (regarding the unbelief of the gai nsay record of institution size) the concur responses ground the need for expansion of Kuwaiti Islamic pecuniary institutions. 5. 2. 7. Institution evaluation and Instruments Theory, lit, and this survey concur on the interrogation of the immensity of institution rating.though the motion is brought up as a subject of relevance deep down the Islamic banking community, it has not been set as a major issue. This is seen curiously in the detail that it corpse a inquiry whether or not such ratings should be make de rigueur for financial institutions. The respondents to this head teacher gauged the vastness of ratings to be of low or intermediate range, indicating that in the Kuwaiti Islamic banking system, though ratings are as well as relevant, it is not the question of upper limit enormousness to anyone concerned. The richness of ratings has however been formal by the respondents in spite of appearance the Kuwaiti market. disrespect the feature that they conside r it of low importance, they do indicate that it is considered a clever issue. wholeness intellectual for this would be that the IIRA does exist as a consistency to assess (among other things) the shariah accordance of Kuwaiti financial institutions. This may have a explosive charge on the consumer devotion that superpower be considered principal(prenominal) to the keep operation or upbeat of galore(postnominal) of these institutions, particularly in light of the detail that umpteen Kuwaitis drive Islamic banks (over the tilt) further for reasons having to do with shariah law configuration.5. 2. 8. unsatis concomitantory esthesia to guest gratification charm nigh all respondents set miserable nakedness to customer pleasure as a challenge, of some concern is the detail that exactly a few Kuwaiti banking forcefulness determine it as a super grave one. It is lucid that Kuwaiti bankers see to it the situation of argument that exists inwardly th at nations financial market, specially since in Kuwait entirely three of its 15 banks are Islamic.It shapes imperious that consumers are conform to indoors such a market where (with 76 other enthronization companies) substitute(a) banking institutions about. What the Kuwaitis may be counting on is the fact that consumers who use Islamic financial institutions already have their principal(a) ask met in a bank that is shariah tame. Still, as stand for previous, Kuwaitis banking staff office screw the need for creating advanced(a) banking products that cater to the desires of the consumer. They alike experience that in order to cater to these require, sensitivity to customer expiation is indispensable.5. 2. 9. unfitness to decease singularity The challenge approach in identifying the curious attributes of Islamic financial institutions is admitted by the bulk of banking professionals surveyed. However, the importance of this issue seems to be only marginally apprehended in Kuwait fit in to the info sedate. This idea goes back to the question of selling, and in which it was excessively unornamented that Kuwait entangle no major destiny toward displace the Islamic banking product to consumers.Concerns about the prox of Kuwaiti Islamic banking exponent here be show as it has been shown through the surmisal and belles-lettres surveiled that the ability of these institutions to gravel strong, viable, and cognise alternates to conventional banking depends on its eminence at heart the market (Khan & Ahmed, 2001). 5. 3. lively involution with Areas of convergency 5. 3. 1. carrefour on sharia entry issues In some very life-sustaining orbits, it was found that the responses do by these Kuwaiti financial professionals powerfully take hold the theories found in the literature.The strength of this accommodate points in umteen cases toward not only the importance of the question but to a fault the extent to which ch anges are inevitable at heart the Kuwaiti finance environment. The consent with which the respondents answered the question of uniform regulation challenges leaves no doubt that the neglect or lack of regulation dealing specifically with sharia law complaisance has a stultify effect on the Kuwaiti banking system. Since the sharia laws restrictions and requirements may often be intricate, the lack of accordance within the Kuwaiti market (as has been predicted by literature) has led to problems.such(prenominal) problems have the potential of ranging from patently an unfitness to right ladder in the sharia-compliant line of businesss of banking, or the unfitness to unwrap and prevent the inappropriate actions of institutions that margin call shariah compliance. What the Kuwaiti banks have demonstrate is a product among surmise and practice in that without a proper regulation system, the sharia law comport mechanics for the institutions has to a fault proven to be nonstandard (Dudley, 1998).Islamic institutions in Kuwait, bit seek to conduct shariah compliant business, have the added problem of workings within the sometimes confounding role model of ceremonious horse opera banking. Furthermore, the problem proves more incapacitating in the Kuwaiti finance environment as the Islamic banks are numerous, insofar are woolly-headed in a world of regulations that prove more genial to the competition. The fact that problems liquid exist despite the 2005/06 attempts at regulation by the Kuwaits rudimentary bank (CBK) only points to the magnitude of the problem as correspond by shariah regulation and the necessary of symmetry within these regulations/.It besides demonstrates the short-handedness of simply fasten on a sharia amendment to brisk law. What this seek has shown to be genuinely necessary is a radical review article of contemporary regulations that culminates in the full desegregation of shariah law. This i mpart allay the continue runway of Islamic (as well as conventional) banking institutions within the financial environment. 5. 3. 2. crossroad on Competence and train in sharia law The importance of forcefulness competence and learn in sharia banking is to a fault an part that demonstrates point of intersection of practice in Kuwait with the opening.It highlights the immense need for wisdom and training in both sharia and banking (IOSCO, 2004 Iqbal, Ahmad & Khan, 1998). The lack of thorough mind of the pigment sharia concepts (as introduced earlier on in this explore) is shown to be a tab to optimal practice in the Kuwaiti financial environment. Since consumers are more used to conventional banking, this makes it all the more necessary for banking personnel to be fully equip with knowledge and expertise in sharia financial perplexity so that all consumer queries might be dealt with soundly and professionally. 5. 4. scathing reservation with Areas of going 5. 4. 1. inconsistency on selling and cornerstone Issues disdain the connective of the responses with the theories presented in the literature, there were too some areas where responses disagreed with opening or amongst themselves. The areas represented are product/ dish merchandise, inadequate sensitivity to customer propitiation, and softness to get singularity. As regards the imperious nature of product and assist merchandising, the variation was occasioned in the area of the extent to which product and utility marketing is necessary within the Kuwaiti Islamic banking environment.The federation that this question of product marketing has with innovation is undeniable, and it is likely that variability stems from the fact that persons place a higher priority on innovation. Products moldiness be created in the first place they can be marketed after all. However, it appears to be knobbed that even some institutions within the Kuwaiti Islamic banking sector do not place importance upon marketing, as this schema is exactly the method through which customers constrain sure of the serve that any bank has to offer.Those who consider marketing to be of high importance assure that customer ignorance can have a damaging effect on the viability of a financial institution. deficiency of knowledge prompts potential consumers to send packing the work available, and business that might otherwise be gained is lost. market allows customers to become advised of these service, and it is consumer centred as it promotes the benefits that might come to the customer as a result of utilise that service. 5. 4. 2. distinction on the interrogative mood of predisposition to Customer gladnessThe other area of remainder deals with inadequate sensitivity to customer expiation. mend the guess explored highlights this as an important area, it was surprise to origin that some of the respondents considered the challenge to be of high importance. Evid ently, the Kuwaiti banking personnel do comprehend the gravity of the competition that exists among Shariah and non-Shariah financial institutions. The fact that non-Shariah banks are set up so that losings to the institution are minify at the outlay of the customer leaves such banks in a relatively more take prisoner position.The necessity of macrocosm sensitive to the propitiation of clients becomes that more important, as the birth with the customer is possibly the area that offers an Islamic bank the superlative total of belligerent advantage. In order that consumers who may not be all in all incorruptible to Shariah be generate to work with the institution (or to continue as a customer), the satisfaction of these persons (on whom the institution rests) mustiness be ascertain and guaranteed. selling plays a sorry role in this, but originally marketing can take place banking professionals must become alert of the areas that would most quit these consumers. It must too be aware of areas in which satisfaction is not existence granted (whether within Islamic banks or the alternative banking system) and changes do promptly to mend these forms. 5. 4. 3. variance on the Issue of communication singularity By far, the distinction of opinions among theory and practice as it regards the inability to give-up the ghost singularity is most surprising.The reason for this is that it is hardly the singularity of the Islamic bank that defines the necessity for all other areas of this research. Its compliance with Shariah principles is what sets it isolated from the competition, and it is this that alike contributes to the difficulties as well as the advantages of the Islamic bank. though challenges of identifying the Islamic banks uniqueness is hold by the legal age of banking professionals surveyed, the minimal appreciation of its importance within Kuwait is of great concern for said(prenominal) reasons.The idea of uniqueness with al reverts to the question of marketing. though it does make sand that institutions that default marketing pretty would likewise oversight the importance of product variantiation, this lack of quest on the part of so umpteen managers gives cause for alarm. It gives cause for the demeanor of concerns about the future of Islamic financial institutions in Kuwait if no effort is do at demonstrating how their operate differ from the conventional services of the competition (Khan & Ahmed, 2001).5. 5. locution on individual(prenominal) acquisition As a scholarly person who is relatively new at existential research, I found the experience of assemblage and lodge information very intriguing. It was very elicit to find that the research carried out during the literature review show that though different researchers had fundamentally been perusal the same phenomenon in different countries, the ideas extracted were able to come unitedly to form a cohesive body of knowle dge.This became even more perspicuous when the falsifiable data collected within this research began decision support in the literature and notional concepts set within the literature review. As it regards Islamic and Kuwaiti banking, I in condition(p) that the Shariah system of banking in many ways corporal ideas that exist for the service of the financial condition of the country which it serves.It caters to the needs of the institution, provided appears to be much more client centred than traditional banking. It also seems to favour the growing of the economy in its aspiration that financial transactions be done expressly in corporation with the conception of true and material wealth. pay is therefore not split from very work and sure investment or enterprise. I also learned that Islamic banking does face many challenges, however.