Creating a religious identity and impression management by Islamic banks

• Published in: International journal of Islamic and Middle Eastern finance and management 2024-07, Vol.17 (4), p.693-710
• Main Authors: Maali, Bassam Mohammad, Hassan, M. Kabir, Rashid, Mamunur
• Format: Article
• Language: English
• Subjects: Annual reports; Content analysis; Corporate identity; Disclosure; Financial institutions; Financial services; Iconography; Imagery; Impression management; Islam; Islamic financing; Islamic law; Muslims; Perceptions; Quran; Religious identity; Religious symbols; Rhetoric; Social psychology; Social responsibility; Stakeholders; Stockholders; Symbolism; Symbols; Terminology
• ISSN: 1753-8394; 1753-8394; 1753-8408
• DOI: 10.1108/IMEFM-05-2024-0240

Purpose Islamic banks (IBs) place significant importance on their religious identity, prompting the utilization of impression management (IM) strategies to emphasize such identity. This paper aims to discuss the motivations behind using IM in the creation of religious identity by IBs, and to explore the use of religious symbols and language as a form of religious rhetoric. It is argued that to counteract the threats to their religious identity, IBs use IM techniques, predominantly through the inclusion of religious symbols and rhetoric. Design/methodology/approach An empirical exploratory study, using content analysis, was conducted on the annual reports of the largest IBs for the year 2022. The analyses involved a total of 39 banks based on a filtered list from The Banker’s Top Islamic Financial Institutions of 2022. A manual content analysis was undertaken to extract religious symbols, images and contents. Findings The findings reveal the use of IM techniques that emphasize the religious identity of these banks. Notably, IBs consistently reaffirm their commitment to Sharia compliance and disclose their contributions to Zakah. In addition, the analysis reveals the incorporation of Quranic verses, religious iconographic images and other religious rhetoric statements in the annual reports of many IBs. Research limitations/implications The analysis concludes that the assertion by IBs that their guiding principles are rooted in Islamic values are supported by the religious terminology and imagery embedded in their annual reports. Alongside mere religious symbolism, the terms and images are integral part of the corporate identity of the Islamic that not only sends persuasive signals to stakeholders but also help build an impression on the activities of the IBs. Originality/value IM has been a key objective and strategy of companies. This study aimed at exploring whether and how IBs used religious symbolism as an integral part of IM and corporate identity.