Document Type : Science - Research (Islamic Banking)

Authors

• Ali Saeedi ¹
• Fatemeh alzahra Afsharipoor ²
• hossein bahrami ³

¹ Assistant Professor, Department of Islamic Economics, Faculty of Economic and Administrative Sciences, University of Qom, Qom, Iran.

² Master's student in Islamic Economics, Faculty of Economic and Administrative Sciences, University of Qom, Qom, Iran.

³ PHD student of Department of Islamic Economics, Faculty of Economics and Management, University of Qom, Qom, Iran

Abstract

Introduction: In conventional economics—and especially in textbooks—the most important, and often the sole, motivation of the economic agent is assumed to be the maximization of utility and profit, and economic actors’ behaviors are typically analyzed on that basis. In reality, however, economic behaviors arise from a variety of motivations. Within the Islamic economic system, individuals’ incentives are not necessarily utilitarian or hedonistic but span a broad spectrum from spiritual to human and social motivations. The motive for Qard al-Hasanah in Islamic banking is defined within this same framework. It is commonly believed that the absence of interest on Qard al-Hasanah deposits is a key reason people are less inclined to save in these banks. This study aims to evaluate that assumption by identifying and ranking the factors influencing depositors’ motivations at Resalat Qard al-Hasanah Bank as an empirical case.



Methods: Motivations for attracting deposits were examined via a questionnaire-based survey of the bank’s individual customers. First, the identified factors were screened using the fuzzy Delphi method; then they were prioritized through the EDAS decision-making technique.



Findings: The results show that multiple motivations—financial, efficiency-related, psychological, and spiritual—drive Qard al-Hasanah deposits. Moreover, deposit inflows at this Qard al-Hasanah bank have increased despite the lack of profit-on-deposits incentives and contrary to conventional theories.



Conclusion: According to the findings, spiritual, financial, efficiency-related, and psychological motivations rank first through fourth, respectively, in influencing Qard al-Hasanah deposits. Additionally, the bank’s compliance with Shari‘ah rules, depositors’ sense of security, and the profit rate on financing facilities were ranked as the three most important components.

Keywords

• Bank deposits
• Qard-ul-hasan
• Islamic banking
• motivation
• Resalat Bank

Main Subjects

• Science - Research (Islamic Banking)