Promoting Islamic financial products to Muslim entrepreneurs: Malaysia corporative bank (bank Rakyat)

^*1Muhammad Abi Sofian Abdul Halim, ¹Wan Asri Wan Abdul Aziz, ¹Adlan Ahmad Bakri, ^{2 2}Mohd Hazwan Abd Wahab, ²Syahrul Hezrin Mahmod

^*1Universiti Teknologi MARA Terengganu, Campus of Dungun, 24000, Dungun, Terengganu.

²Universiti Teknologi MARA Terengganu, Campus of Kuala Terengganu, 20300, Kuala Terengganu, Terengganu.

*Corresponding Author’s E-mail: abisofian@tganu.uitm.edu.my

Accepted 06 June 2013

Abstract

Over the last decades, Islamic Financial has grown into a full fledge system and it is still growing at an astonishing rate every 5 years. Nowadays, there are many banks and financial institutions are offered an Islamic and Shariah compliant financing in helping entrepreneurs to start their business. Malaysia Corporative Bank also known as a Bank Rakyat is a local financial institution that has responsibility in developing and promoting the concept of Islamic financial product into Muslim entrepreneurs in Terengganu. Fundamentally, there are five entrepreneurship agencies in a state of Terengganu which are actively involved in constructing the small and medium entrepreneurs. This paper basically explores an essential of marketing communication in a Bank Rakyat Terengganu as well as to promote the Islamic financial product among Muslim entrepreneurs in Terengganu. In general, there are 582 respondents who are registered as Muslim entrepreneurs in public entrepreneurship agencies at Kuala Terengganu. However, there are only 265 questionnaires were distributed to those Muslim entrepreneur in order to complete the purpose of study. The results obtained surprisingly show that this significance relationship explained that most of Muslim entrepreneurs in Terengganu are understand the strategic that promoted by Malaysia Corporative Bank in Terengganu. Indeed, the R2 also show that 77.1%, of total variable in understanding of Muslim entrepreneurs are highly explanatory power from the factors of promotion such as seminar, carnival, and direct marketing program that has been implemented by the Malaysia Corporative Bank.

Keywords: Promotion, Muslim entrepreneurs, Islamic financial, marketing communication, direct marketing, seminar, financial institutions.