Comparison between Islamic Credit Cards and Conventional Credit Cards - Research Proposal Example

The paper "Comparison between Islamic Credit Cards and Conventional Credit Cards" is a worthy example of a research proposal on finance and accounting. After the launch of Al-Taslif, the first Islamic Credit card (ICC)  in 2002 in Malaysia by the Arab Malaysian Bank, the level of awareness and understanding on the Sharia-compliant card is still dismal (Dali, Shahwan 2015). Prior to this, most Muslims restricted themselves to using cash or debit cards in compliance with their religious Sharia laws which do not permit giving or receiving riba (interest) in financial interactions. Even though a country like the U.S has been a little receptive to Sharia-compliant banking (Rogak n.d), the progress is still slow. As a result, financial institutions have yet to harness the true potential of offering financial services to the people of Muslim faith, even those in predominantly Muslim countries.

Articles have been written on the different types of the ICC (Billah n.d).  However, there is an urgent need to explore the pros and cons of both Conventional Credit Cards (CCC) and Islamic Credit card. Myths have to be burst and misconceptions have to be set straight. This research explores the reasons why Muslims and non-Muslims alike should consider using the Islamic Credit card or why they should stick to using its conventional counterpart.

Ethical Considerations:
The anonymity of the respondents will remain anonymous if they so wish.
The research will be based on objectivity in its findings and conclusions, not criticizing one religion for the benefit of the other(s).
We will seek informed consent from all our respondents.
Participants seeking to withdraw their participation will be allowed to do so without having to give any explanation and their input too will be withdrawn unless they expressly consent to have it included in the research.