Abstract
Purpose
It is believed that Islamic banks are aimed at the welfare of its stakeholders (Dusuki, 2008). The major stakeholders consist of customers, employees, competitors and management. But whether the Islamic banks are really able to communicate and convey their mission to their stakeholders is an area which has not be given due importance. This paper aims to attempt to unveil this issue.
Design/methodology/approach
This study comprised two distinctive methodological stances, where mission statements of selected (five) Islamic banks were analyzed using content analysis, readability and understandability in first instance. In second step, various stakeholders responded for their perception of objectives of stakeholders through personally administrated questionnaires. In all, 370 respondents recorded their responses in this stage.
Findings
Findings of the study show that Islamic banks are not well in communication to their objectives through their missions statements. Moreover, most of the stakeholders are not clear about the objectives of Islamic banks.
Originality/value
This study is first of its type which covers content analysis, mission statement readability and understandability and perception of stakeholders in one study.
Subject
Finance,Business and International Management
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4. Ahmed, A. (2010), “Analysis of the Mission statement of the commercial banks of Bangladesh”, available at: http://ssrn.com/abstract=1633225 (accessed 21 August 2014).
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