Adaption Strategy to Social Banking of The Islamic Bank of Thailand

Abstract

The objective of this research was to study the model of adaptation strategy to social banking of the Islamic Bank of Thailand. It was a qualitative research using Delphi technique. Data were collected from relevant documents and in-depth interviews with 17 experts in social banking. They were selected based on purposing sampling. The results revealed that there are seven key strategies for the Islamic Bank of Thailand to adapt to social banking: 1) organizational innovation strategy, 2) organizational learning strategy, 3) organizational culture strategy, 4) internal communication efficiency strategy, 5) organizational resilience to change strategy, 6) change leadership strategy, and 7) employee engagement strategy. The strategies can create a balance between traditional and new financial services to be consistent with society, culture, environment and economy while increasing competitiveness of Islamic finance and expanding access to services in accordance with Islamic principles.