Saudi Journal of Business and Management Studies (SJBMS)
Volume-2 | Issue-04 | 399-406
Original Research Article
Customer’s Awareness and Attitude Towards Interest Under Islamic Law and Shari’ah-Case of People’s of Zanzibar
Ali Othman Abbas, Hamad Shuweikha Hassan
Published : April 30, 2017
Abstract
The main aim of this study was to determine the influence of consumers‟ awareness and attitude toward
interest under Islamic law and Shari‟ah. The study used a target population of peoples of Zanzibar which was a majority
Muslim by 99 percent. A descriptive design was adopted in this study for data collection. The descriptive design allows
the description of the state of affairs as it exists and draws respondents‟ opinions and views on the influence of the
consumer awareness toward prohibited of interest in Islam. The study found out that 68.9 percent of the respondents were
aware the interest is one of the dangerous weapons to exploit and extort the poor and needy. We recommended that in
order achieve certain economic and social goals, central banks have intervened in the determination of the rate of interest
and establish of an interest free banking system because the most important portion of the wealth of a country is captured
by a few rich peoples through interest.