Posted: June 25th, 2015

Financial Markets In Islamic Banking

1.3.1. Purpose
The purpose of this study will be to establish the relationship between financial market and savings promotion in Islamic Banking.
1.4. Objectives of the study
Specifically the study attempt:
i) To identify the nature of Financial Markets in Islamic Banking
ii) To establish the various financial market practices employed by Islamic Banking
iii) To establish the relationship between financial market and savings promotion in Islamic Banking.
1.4 Research Questions
i. What is the nature of Financial Markets in Islamic Banking?
ii. What are the various financial market practices employed by Islamic Banking?
iii. What is the relationship between financial market and saving promotion in Islamic Banking?

Research Methodology
3.1. Research Design
The researcher will use descriptive and survey design. This is because the researcher will be interested in explaining phenomena and its data characteristics. The study will use both quantitative and qualitative as approaches. This will be intended to have approaches complimenting each other in eliciting the truth.
3.2. Study Population
The target population for this study will be 174 Participants, out of 174 participants; 100will be brokers, 57staff members and 17 Board Members. The entire population will therefore be eligible to be considered for this study. Population refers to the full set of cases from which a sample is taken (Saunders, 2007).
3.3. Sample Size Determination
Out of the total population of 174, The Sloven’s formula will be applied to determine the exact sample size:
, Where; n = the required sample size; N = the known population size; and e = the level of significance, which is = 0.05. Given a total population of174 respondents, a sample of 121 respondents will be obtained.

Thus
n= 174/{1+[174*(0.05)*(0.05)]}
= 174/ (1+0.435)
= 174/1.435) = approximately 121
3.4 Sampling Techniques
The study will use purposive techniques on financial market boardmembers because of the key position they hold in these organizations. Random sampling as suggested by Van Dalen (1979) meanschance or a random method of assignment to many people, but in reality it is a carefully controlled process.
3.5. Data collection
The study will employ the use of a Questionnaire. A questionnaire is a research instrument consisting of a series of questions and other prompts for the purpose of gathering information from respondents. With this technique, data will be collected from brokers, Staffs and board members using open ended questions. The questionnaire will be very important because it will generate the common understanding. The questionnaire will be used as a quiet way to collect confidential information because one will respond independently without supervision. (Diwan and Singh,2000)
3.6. Data Analysis
The researcher will edit the collected data to remove errors, then the data will be tabulated and fed into micro soft excel for processing into statistical data such as graphs, charts and figures. Then the researchers willinterpret statistical data to derive conclusions and recommendations. The data collected using the questionnaires will be edited, coded and tabulated for completeness and accuracy (Muhammad Rais, 2003).
3.9 Ethical Considerations
The researcher will introduce himself and clearly explain what the study is all about. Some considerable time will be given to the respondents to ask questions to the researcher before commencement of data collection exercise. All the respondents irrespective of gender, age, and status and education level will be treated equally.
Respect for respondents culture, taboos and economic status will be highly observed to avoid violation of one’s rights and dignity. The information given will be kept confidential for the use of academic purpose only. (Mugenda & Mugenda, 1999).