Managing business model duality in banking: how conventional banks navigate the integration of Islamic finance

The coexistence of conventional and Islamic banking models has taken hold in emerging and developed financial markets alike. As Islamic finance continues to grow globally, conventional banks face the challenge of integrating Sharia-compliant offerings alongside their traditional services. This duality is not only a strategic and operational concern but also a normative and ethical one, requiring institutions to navigate complex organisational, regulatory, and societal expectations.

Existing literature has provided valuable insights into the proliferation of Islamic finance, the structural arrangements of Islamic windows and subsidiaries, and the strategic choices banks adopt when entering Islamic markets (Aaminou and Aboulaich, 2017; Hanif et al., 2012; Saeed et al., 2021). Research has also highlighted the tensions that arise from managing dual business logics, including potential conflicts in governance, resource allocation, and client communication. Studies on strategic pluralism and organisational ambidexterity further suggest that firms operating multiple value creation logics must carefully balance the exploitation of existing models with the exploration of new ones (Chesbrough, 2007; March, 1991; Markides and Charitou, 2004; Visnjic et al., 2022).

However, much of the current knowledge remains limited in explaining how conventional banks practically organise and govern the coexistence of conventional and Islamic business models in contexts where both must operate simultaneously. Most studies focus either on a single type of organisational arrangement, such as Islamic windows or fully fledged Islamic subsidiaries, or on normative and prescriptive approaches emphasising Sharia compliance, governance frameworks, and regulatory alignment (Hanif et al., 2012; Jatmiko et al., 2024; Ramli et al., 2025). While this literature has contributed substantially to the understanding of Islamic finance principles and institutional requirements, a research gap persists regarding the operational and managerial mechanisms through which conventional banks implement and sustain dual business models in practice. Beyond this empirical limitation, this gap also reflects a broader theoretical underdevelopment concerning how organisations manage the structured coexistence of multiple value creation logics within a single organisational system. As a result, important questions remain unresolved regarding the concrete organisational configurations, resource management practices, and client-oriented strategies that enable successful dual-model banking and govern the ways distinct value creation logics are simultaneously designed, implemented, and managed.

In this study, a business model is understood as the configuration through which organisations mobilise resources and competencies, structure organisational arrangements, and deliver value to targeted clients while ensuring economic viability (Lecocq et al., 2006). From this perspective, this study examines the following research question:

This research question is central to the study and guides the empirical investigation of organisational structures, resource allocation practices, team specialisation, and client-oriented strategies adopted by banks operating dual business models.

Drawing on a theoretical framework combining strategic pluralism (Ghemawat, 2001) and organisational ambidexterity (Tushman and O'Reilly, 1996; O'Reilly and Tushman, 2013), this research investigates how banks manage structural arrangements, resource allocation, team specialisation, and client communication to sustain the coexistence of dual business models. Prior studies suggest that effective duality management requires balancing exploitation and exploration while coordinating distinct organisational units (March, 1991; Raisch et al., 2009). Building on these perspectives, this study contributes to these theoretical streams by extending their application to regulated financial environments characterised by institutional duality and by providing empirical insights into the concrete mechanisms through which multiple value logics are operationalised and sustained within a single organisational structure. By doing so, it moves beyond purely conceptual or normative discussions and offers a more fine-grained understanding of organisational design in contexts of institutional complexity.

To address the research question, this paper is structured as follows. It begins with a presentation of the theoretical background on business model duality, strategic pluralism, and organisational ambidexterity in the banking sector, with a focus on conventional and Islamic finance. This is followed by a description of the research methodology, including the qualitative approach and data collection from Moroccan banks. The empirical findings are then presented, detailing entry modes, operational configurations, resource and team management, and client communication strategies. The discussion interprets these findings in light of the theoretical framework, highlighting the mechanisms that enable the effective coexistence of dual banking models. Finally, the paper concludes by summarising the main contributions, discussing limitations, and proposing directions for future research.

The coexistence of conventional and Islamic business models within Moroccan banks presents a unique and complex phenomenon, reflecting broader trends of strategic pluralism and organisational ambidexterity in the banking sector. Understanding how banks manage multiple logics of value creation requires examining not only operational and strategic dimensions but also normative and ethical considerations, particularly Sharia compliance. This section establishes the theoretical foundation for analysing dual business models by focussing on three interrelated areas. First, it explores the emergence and pluralism of business models in the banking sector, highlighting how institutions navigate multiple value creation logics. Second, it examines hybrid arrangements that integrate conventional and Islamic offerings, addressing both market opportunities and operational tensions. Third, it considers the strategies banks deploy to manage coexistence, whether through integration, separation, or phased approaches, emphasising the role of governance, alignment, and adaptation within complex ecosystems. These theoretical insights provide a framework for investigating how Moroccan conventional banks organise and govern the duality of their business models in a regulated and evolving financial environment.

The concept of the business model has evolved significantly over the last two decades, becoming a central tool for understanding value creation and capture in organisations (Kumar et al., 2025). In the banking sector, the coexistence of competing models, particularly conventional and Islamic ones, illustrates strategic pluralism, where multiple logics of value creation operate simultaneously within a single institution (Westerveld et al., 2023). Banks must optimise the performance of each model while managing the tensions and interdependencies between them.

This duality reflects a dynamic process in which institutions continuously adapt their business models to respond to regulatory constraints, societal expectations, technological changes, and competitive pressures (Kavvadia, 2022). The pluralism of banking models exemplifies organisational ambidexterity, whereby banks balance the exploitation of established models with the exploration of new forms of value creation (Carlborg et al., 2024; Visnjic et al., 2022). These external pressures shape how banks structure processes, coordinate activities, and implement innovation across models. They also create opportunities for leveraging digital technologies and analytical tools to manage complexity, ensure the compliance of Islamic models, and enhance the performance of conventional models (Sun et al., 2025; Westerveld et al., 2023).

Ethical and societal considerations are also central to understanding pluralism in banking models. Islamic banking emphasises Sharia compliance alongside contributions to society and the local economy (Jatmiko et al., 2024; Ben Mimoun et al., 2025). Consequently, banks must design dual models that achieve economic performance while maintaining legitimacy among regulators, clients, and society.

Hybrid models, in which conventional banks offer Islamic products through dedicated Islamic windows, defined as units within conventional banks whose operations comply with Sharia law, or through fully fledged subsidiaries, represent a tangible form of organisational duality. These configurations enable conventional banks to extend their market reach while leveraging existing infrastructures, resources, and managerial capabilities. However, beyond their strategic attractiveness, such hybrid arrangements generate operational, governance, and ethical tensions, particularly with regard to ensuring effective Sharia compliance within organisations originally designed around conventional banking principles (Ramli et al., 2025; Jatmiko et al., 2024).

Banks' strategic choices in managing dual models can be classified according to integration patterns. Some opt for full integration of Islamic services into conventional operations, while others implement progressive separation through dedicated branches or complete separation with informal coordination between models (Bourkha et al., 2025). Effective management of hybrid models requires balancing local adaptation and process standardisation while preserving the legitimacy of each model (Bourkha, 2023; Kumar et al., 2025; Sun et al., 2025).

Managing dual business models entails organisational challenges because differences in underlying logics, value systems, and operational requirements can generate internal tensions (Markides and Charitou, 2004; Teece, 2010). Structural separation is a common approach, in which each model operates within a dedicated unit with its own strategy, brand, and processes. This arrangement mitigates internal cannibalisation, resistance to change, and strategic misalignment while providing autonomy to innovate (Markides and Charitou, 2004; Broekhuizen et al., 2018).

Alternatively, progressive integration allows for resource sharing and organisational alignment but may expose the institution to conflict or inertia. The choice of coexistence strategy is influenced by the degree of strategic similarity between models, operational interdependencies, and internal conflicts (Markides and Charitou, 2004; Chesbrough, 2007). Case studies from Morocco and other countries demonstrate diverse strategies adopted by conventional banks entering Islamic finance, reflecting how institutional pressures, technological opportunities, and ethical considerations shape the configuration of dual models (Hanif et al., 2012; Saeed et al., 2021; Aaminou and Aboulaich, 2017).

Ecosystem interactions, technological innovations, and ethical constraints are not external add-ons but integral factors that influence coexistence strategies. Banks must align governance, operations, and client communication across models while ensuring compliance, legitimacy, and value creation. This integrated view highlights that the coexistence of conventional and Islamic banking models is simultaneously a strategic, operational, and normative challenge, shaped by market, regulatory, technological, and societal forces.

This theoretical review shows that the coexistence of conventional and Islamic business models in Moroccan banks offers a rich context for examining pluralism, hybridisation, and strategic adaptation. Banks navigate tensions between established conventional operations and emerging Islamic offerings by deploying hybrid structures, interacting within multi-actor ecosystems, and leveraging technological innovation. Governance, ethical and regulatory compliance, and social legitimacy, particularly Sharia adherence, play a central role in shaping these dual models.

Building on this theoretical foundation, the following section presents the methodological approach adopted to investigate how Moroccan conventional banks organise and manage the coexistence of conventional and Islamic business models, including data collection, case selection, and analytical procedures.

This study employs a qualitative research design to examine how Moroccan conventional banks organise and manage the coexistence of conventional and Islamic business models. Qualitative approaches are particularly suitable for exploring complex, real-world phenomena and generating nuanced insights into organisational practices, strategies, and institutional interactions (Miles and Huberman, 1994; Yin, 2018; Patton, 2015; Creswell and Poth, 2018; Bourkha and Kandili, 2026). This methodology allows for capturing contextual nuances, understanding participant perspectives, and producing rich theoretical insights (Eisenhardt, 1989; Stake, 1995). It is particularly appropriate for the study of business models, where value creation processes, organisational arrangements, and strategic logics are embedded in dynamic and context-dependent interactions. In this regard, case study research is especially relevant for examining how firms design and operationalise complex business model configurations involving multiple stakeholders and competing logics (Coombes, 2023). The methodology described here addresses the research question through a detailed explanation of case selection, data collection, and data analysis procedures, integrating both methodological rigour and empirical depth.

We adopted a multiple case study approach, recognised for its capacity to investigate phenomena within their real-life context while allowing for the exploration of complex social realities (Yin, 2018; Eisenhardt, 1989; Stake, 1995). This approach enables a detailed understanding of the ways in which banks reconcile dual business models while navigating regulatory, technological, and ethical constraints. Our sample included all Moroccan banks offering Islamic banking products as well as foreign banks operating in Morocco, enhancing external validity and ensuring comprehensive coverage of different institutional configurations. This design also supports cross-case comparison, allowing the identification of both convergent practices and context-specific strategies. The multi-case approach is particularly appropriate for analysing organisational ambidexterity and business model coexistence, as it enables the examination of variation across institutional settings while preserving the embedded nature of managerial practices (Coombes, 2023). The multi-case approach provides a foundation for examining how conventional banks implement either integration or separation strategies for Islamic banking operations while accommodating both strategic and operational considerations. In line with Yin (2018), Eisenhardt (1989), and Stake (1995), such a design facilitates theory generation and contributes to a richer understanding of organisational ambidexterity in the banking sector.

Morocco presents the research setting due to its unique institutional and regulatory evolution in Islamic banking. Initial attempts to introduce Islamic finance in the 1980s were rejected by the Moroccan Central Bank, despite Morocco being a founding member of the Islamic Development Bank (IDB) in 1975. It was only in 2007 that formal authorisation for participative (Islamic) banking was granted, with full operational launches occurring in 2017. Regulatory conditions require that Islamic products be labelled as “alternative” or “participative” rather than “Islamic,” and that promotional materials must avoid explicitly religious terminology. This institutional environment generates distinctive operational, strategic, and ethical challenges, making Morocco a particularly suitable case study compared to other Middle East and North Africa (MENA) countries with different regulatory landscapes (Aaminou and Aboulaich, 2017; Hanif et al., 2012; Saeed et al., 2021).

The primary Islamic financial products in Morocco are generally based on profit-and-loss sharing (Mudarabah), partnership or joint venture (Musharakah), forward sales contracts (Salam), leasing contracts (Ijarah), and cost-plus financing (Murabahah). These are typically categorised into two groups: participatory and financing instruments. Murabahah remains the flagship product of Islamic banks in Morocco, while other products such as Musharakah and Mudarabah are less widely used. Table 1 provides an overview of the main Islamic banking products currently offered in Morocco. According to the Central Bank's report (December 2023), “Real Estate Murabahah” contracts represented 84% of the banks' portfolios, with 95% allocated to property acquisition and 5% to property development.

The Moroccan banking context provides a particularly suitable environment for studying the coexistence of conventional and Islamic business models for several reasons. First, Morocco combines well-established conventional banks with a recently institutionalised Islamic finance sector, creating a natural laboratory to observe dual-model operations within the same institutions. Second, the regulatory framework imposes unique constraints, such as limitations on Islamic branding and the oversight of the Supreme Council of Ulemas (SCU), which shape the operational and ethical challenges of dual business models. Third, Morocco represents an emerging market within the MENA region, offering contrasts with more mature Islamic finance markets such as Malaysia or Pakistan, thus enabling the study of strategic adaptation under developing and regulated conditions. Finally, the diversity of configurations – from dedicated Islamic banks to participative windows within conventional banks – provides a rich setting to investigate the organisational strategies, integration approaches, and governance mechanisms that support the coexistence of ideologically distinct business models.

The study examined five dedicated Islamic banks—Assafaa, Umnia, Al-Akhdar, Al-Yousr, and Al-Tamwil wa Al-Inmaa—as well as several Islamic windows operating within conventional banks, such as Nejmah, Arreda, and Dar Al-Amane. According to the Central Bank's circular No. 3/W/17 (27 January 2017), a “participative window” is a dedicated structure within a conventional bank that operates in compliance with the rulings of Morocco's Supreme Council of Ulemas (SCU). Most Moroccan banks have formed partnerships with well-established foreign groups to leverage complementary strengths, distributing Islamic products either via dedicated windows or conventional distribution channels without establishing specialised banks. Table 2 provides an overview of the Islamic banking market in Morocco, highlighting the main conventional banks, their dedicated Islamic subsidiaries or windows, and, where applicable, expert partners supporting the development of Islamic banking products. This overview illustrates the structure of dual banking operations and the network of partnerships leveraged by Moroccan banks to deliver Sharia-compliant financial services.

Empirical data were collected between January and December 2022 through 21 semi-structured interviews, each averaging 45 minutes, yielding more than sixteen hours of audio recordings and approximately 170,000 words of transcription. Two interview guides were developed: one for representatives of conventional banks and another for Islamic banks. The guides presented here correspond to the final versions, reflecting refinements made after initial interviews. The first versions were developed based on insights from the literature and initial theoretical considerations, and were subsequently modified to incorporate emergent themes and context-specific insights observed during early interviews. Guides were used flexibly to allow the emergence of unanticipated insights and to adapt questions dynamically to the interview context. Multiple participants within the same institution were interviewed to allow cross-validation of responses and to capture divergent perspectives, following Yin's (2018) recommendations (see Table 3).

The interview guides were organised around key areas aligned with the research question on how Moroccan conventional banks organise and manage the coexistence of conventional and Islamic business models. The main areas covered included: (1) strategic entry decisions into Islamic finance markets, including ownership structures and partnership choices; (2) operational arrangements, such as team structures, resource allocation, and workflow coordination for dual banking products; (3) human resource practices, including training, specialisation, and management of operational tensions; and (4) client-facing strategies, including communication, segmentation, and measures to ensure clarity and trust. This thematic organisation allowed interviews to capture both the practical implementation of dual banking logics and the underlying managerial reasoning, providing a direct empirical link between the research question, organisational practices, and observed outcomes.

In addition to interviews, document analysis played a critical role in data collection, offering sector-specific context and triangulating interview findings. Sources included annual and quarterly reports, brochures detailing Islamic banking products, internal and external communications, online journals, and official bank websites. Organisational documents functioned as collective memory, capturing decisions, strategies, and operational practices (Miles and Huberman, 1994; Bowen, 2009). Data collection continued until theoretical saturation was reached, ensuring that later interviews provided minimal novel information (Corbin and Strauss, 2008).

Thematic analysis was applied to systematically condense, categorise, and interpret the data (Braun and Clarke, 2006; Neuendorf, 2017). Primary themes were initially derived from the literature, and a secondary set emerged from preliminary readings of interview transcripts and documents. These sets were intersected to create a comprehensive thematic framework, consistently applied across all cases. An abductive approach guided this process, allowing iterative movement between theoretical concepts and empirical observations (Sætre and van de Ven, 2021). While initial codes were informed by the literature, emerging patterns from the interviews and documents prompted the refinement of codes and the adaptation of themes. This iterative interplay ensured that the final thematic framework captured both theoretically grounded expectations and context-specific insights, enhancing the explanatory power of the analysis.

Analysis involved both vertical (case-by-case) and cross-case comparisons to identify patterns of integration, separation, and hybridisation among banks' business models. The RCOV model (Resources, Competences, Organisation, and Value) (Lecocq et al., 2006) was employed as a practical classification tool for organising data around resources and competencies, organisational arrangements, and value propositions. While RCOV was not treated as a theoretical lens, it provided a structured approach to represent interrelationships among business model components across dual banking systems. Comparative tables facilitated the identification of similarities and differences in how banks manage conventional and Islamic operations.

Triangulation of data sources (interviews, documents, informal discussions) and methods (thematic, descriptive comparative, and explanatory comparative analyses) ensured the credibility and reliability of findings (Miles and Huberman, 1994; Patton, 2015). External validity was enhanced through comprehensive coverage of all retail banks in Morocco offering Islamic products, ensuring both statistical and sociological representativeness (Eisenhardt, 1989; Taylor et al., 2006). Findings were further validated through discussions with banking practitioners, confirming the accuracy of interpretations regarding strategies, advantages, and challenges of dual business model management.

To enhance the credibility and rigour of the analysis, several strategies were implemented to mitigate potential researcher bias. First, triangulation of data sources, including interviews, documentary materials, and informal discussions, allowed for the cross-validation of findings and reduced reliance on a single source of interpretation, in line with established qualitative research standards (Denzin, 2017; Patton, 2015). Second, a systematic manual coding process based on repeated reading and comparison of transcripts and documents was used to ensure consistency in interpretation and to limit selective perception of data, following recommendations on qualitative data analysis (Miles and Huberman, 1994). Third, the use of multiple participants within the same institutions enabled the comparison of perspectives and helped to identify convergent and divergent interpretations, thereby reducing the risk of single-informant bias (Eisenhardt, 1989). In addition, validation of preliminary findings with banking practitioners contributed to refining interpretations and strengthening the credibility of the results, consistent with the principle of member checking (Lincoln and Guba, 1985).

Abductive analysis (Sætre and van de Ven, 2021) involves observing and confirming anomalies in the data, generating and evaluating explanatory hunches, and refining these insights through deductive and inductive reasoning. In line with this approach, raw interview and documentary data were systematically coded to capture salient empirical patterns, which were then interpreted through relevant theoretical lenses, including hybrid strategies, organisational ambidexterity, and resource recombination. This iterative process also informed the refinement of interview guides, which were progressively adjusted after initial interviews to better capture emerging themes. Table 4 illustrates this process by showing how raw data were transformed into codes and aggregated into themes, demonstrating the link between empirical material and theoretical development.

By moving iteratively between theory and empirical evidence, we refined initial codes, identified patterns, and aggregated them into themes that integrate conceptual insights with the specific context of Moroccan Islamic finance. This process allowed us to distinguish clearly between strategic choices (entry modes), operational configurations, internal implementation mechanisms (resource and team management), and client-facing mechanisms (client communication and experience), providing a transparent account of how empirical data informed our conceptual understanding.

In practice, this abductive approach enabled us to reconcile observed organisational practices with existing concepts such as hybrid strategies, structural and dynamic ambidexterity, and resource recombination. By explicitly linking raw data to theoretical constructs, our thematic analysis was not purely inductive but guided by a dialogue between empirical evidence and theory. This approach provides a transparent account of how our empirical findings informed the conceptual understanding of dual banking models, while also demonstrating how theoretical concepts were iteratively adapted to reflect context-specific dynamics in the Moroccan Islamic finance sector.

The findings are organised to provide a coherent account of how Moroccan banks manage the coexistence of conventional and Islamic banking logics. First, we describe the strategic entry modes adopted by banks, distinguishing between Islamic windows, subsidiaries with expert partners, and fully locally owned subsidiaries. Next, we examine how these entry modes translate into operational arrangements, highlighting integration, phased separation, and full separation as distinct configurations for organising dual banking operations. Building on these configurations, we then focus on the implementation mechanisms that make dual banking operations viable, including human resource allocation, team specialisation, training, and the management of operational tensions and trade-offs. Finally, we analyse client-facing mechanisms, showing how banks manage communication, segmentation, and trust to deliver dual banking services effectively. This presentation clarifies the progression from strategic choices to operational execution and client interaction, ensuring that each part contributes unique insights while avoiding overlap.

Moroccan banks have adopted three main entry modes into the Islamic products market: Islamic windows, Islamic subsidiaries with expert partners, and a fully locally owned Islamic subsidiary. These modes reflect increasing levels of organisational separation and capability development, ranging from shared infrastructures to fully autonomous Islamic entities.

Subsidiaries of foreign banks, such as BMCI (Banque Marocaine pour le Commerce et l’Industrie), CDM (Crédit du Maroc), and SGM (Société Générale Marocaine), have adopted the Islamic window model, offering selected Islamic-compliant products through dedicated counters within their conventional branches. This approach allows banks to leverage pre-existing infrastructure and operational capabilities while addressing growing customer demand for Sharia-compliant services. As one executive from BMCI noted, “These box offices were created only to pretend to meet the demands of idealistic customers who are demanding in terms of Sharia compliance”. This statement highlights the perception among some managers that Islamic windows serve primarily as a market response rather than a fully integrated strategic initiative.

In this configuration, branch teams are tasked with managing both conventional and Islamic products. Training for Islamic finance is provided but remains limited, often consisting of short orientations and occasional ad hoc guidance. Supervision is irregular, and frontline staff typically rely on centralised support channels for complex issues. An Islamic window executive emphasised, “I did not receive formal training but only a brief presentation of ‘Murabahah,’ and in case of issues, we contact a dedicated call centre”. This illustrates the operational constraints faced by staff, who must balance dual responsibilities without extensive specialisation.

From a theoretical standpoint, this entry mode exemplifies the dynamics of hybrid strategy (Westerveld et al., 2023; Ramli et al., 2025), as conventional banks simultaneously exploit their established capabilities while experimenting with new opportunities in the Islamic market. It reflects organisational ambidexterity, combining exploitation of conventional strengths with exploration of Islamic finance logics. However, the coexistence of both logics within shared teams and infrastructures generates tensions and ambiguities. Employees may experience role conflicts, oscillating between efficiency-driven banking logic and compliance-driven Islamic requirements. Limited training reinforces these tensions by constraining the internalisation of Sharia principles and increasing the risk of inconsistency in service delivery.

Ultimately, the Islamic window configuration underscores both the opportunities and constraints of dual business model management in the Moroccan banking sector. On the one hand, it enables low-cost diversification and market testing without structural reconfiguration. On the other hand, reliance on shared resources and limited capability investment reveals structural fragilities. These findings confirm earlier theoretical insights into the challenges of managing multiple logics within a single organisation (Markides and Charitou, 2004; Chesbrough, 2007), while providing empirical evidence of how hybrid strategies are operationalised in emerging financial markets.

Moroccan banks such as BCP (Banque Centrale Populaire), BOA (Bank of Africa), CAM (Crédit Agricole du Maroc), and CIH (Crédit Immobilier et Hôtelier) have established subsidiaries in partnership with Gulf banks specialising in Islamic finance. Within these subsidiaries, employees focus exclusively on Islamic financial services, which enables a high degree of specialisation and the development of domain-specific expertise. As one executive explained, “Our bank is an Islamic bank, while the others (windows) are conventional banks disguised with Sharia”. This remark underscores the perceived distinction between fully dedicated Islamic subsidiaries and Islamic windows, highlighting that the former represents a genuine institutional commitment to Sharia-compliant banking rather than a symbolic or peripheral initiative.

This organisational model ensures a clear separation of responsibilities between conventional and Islamic operations while maintaining strategic alignment with the parent bank. By dedicating specialised personnel to the Islamic subsidiary, banks reduce operational ambiguities, prevent potential conflicts between different product logics, and support consistent service quality. A senior manager from CIH highlighted: “Our Islamic subsidiary has its own dedicated team, which allows us to avoid confusion with conventional operations and ensures that every product is compliant and correctly managed”. Furthermore, this structure allows the parent bank to monitor performance and enforce governance standards without compromising the autonomy of the Islamic unit.

From a theoretical perspective, dedicated subsidiaries exemplify a structural separation strategy, which mitigates internal tensions arising from the coexistence of dual institutional logics (Broekhuizen et al., 2018). This arrangement facilitates the management of competing objectives: operational efficiency in conventional banking and strict Sharia compliance in Islamic operations. The explicit separation of teams and resources also enhances legitimacy in the eyes of clients and regulators, as the Islamic subsidiary is perceived as fully compliant and professionally managed.

Additionally, the involvement of expert Gulf partners enables knowledge transfer, strengthening operational capabilities and improving service delivery in the Moroccan context (Ben Mimoun et al., 2025). These partnerships contribute to organisational learning, allowing the subsidiary to benefit from international best practices in Islamic finance while adapting them to local market conditions. Overall, the model demonstrates how banks can strategically reconcile dual business logics, leveraging dedicated structures and external expertise to achieve both compliance and performance objectives.

AWB is the sole Moroccan bank managing a fully local Islamic subsidiary, “Assafaa Bank”. The bank initially started with an Islamic window in 2007, followed by the creation of an Islamic finance company, and finally the launch of a fully independent subsidiary in 2017. This phased development reflects a deliberate strategy of incremental capability building, allowing the bank to acquire internal expertise in Islamic finance gradually, test the market, and adapt organisational processes before committing to a fully autonomous entity.

A division manager explained: “We started by offering a narrow range of Islamic products, but at some point, we wondered why we don't market all products. We could either continue with the window strategy or launch an Islamic banking subsidiary. We decided to separate the two banking activities”. This statement illustrates the cognitive and operational reasoning behind the phased transition, highlighting how practical experience with the window and intermediate company informed the decision to establish a dedicated subsidiary.

By progressively building capabilities, AWB ensured that conventional and Islamic units could coexist without generating significant operational conflicts. A division manager highlighted: “We share almost everything that can help us succeed with our subsidiary Assafaa Bank, such as financing means and resources, which are limited since Assafaa Bank's clients come only for financing but keep their operational and savings accounts with AWB”. Resources, competencies, and organisational knowledge were systematically transferred to the new subsidiary, enabling the bank to mitigate risks related to operational errors, regulatory compliance, and customer confusion. This approach preserved service quality while ensuring strategic oversight over both business models.

From a theoretical perspective, the phased entry mode exemplifies adaptive coexistence strategies that reconcile dual logics within a single organisational ecosystem. It aligns with concepts of open innovation and resource recombination, whereby existing capabilities are redeployed and extended (Chesbrough, 2007). It also reflects dynamic ambidexterity, combining exploitation of conventional competencies with exploration of Islamic finance capabilities (Markides and Charitou, 2004; Kavvadia, 2022). This stepwise separation, grounded in experiential learning, allows firms to maintain dual legitimacy while minimising operational and reputational risks.

Entry modes reflect the strategic choices through which banks enter the Islamic finance market, whereas operational coexistence configurations capture how these choices are implemented and orchestrated in daily organisational practices, in terms of team structures, resource allocations and task coordination.

To address concerns related to redundancy across sections, the presentation of operational configurations has been refined by reducing overlapping formulations while preserving analytical depth. The three configurations remain analytically distinct but are now described with clearer differentiation in their organisational implications, while maintaining their conceptual coherence. Our data analysis revealed three principal operational configurations for the coexistence of conventional and Islamic business models in Moroccan banks: integration, phased separation, and full separation, each reflecting distinct organisational choices, resource allocations, and managerial approaches.

Foreign banks employing Islamic windows exemplify the integration strategy, in which the same resources, teams, and infrastructure serve both conventional and Islamic products. This configuration allows banks to offer Sharia-compliant services without establishing separate subsidiaries, thus simplifying operational management, although it may generate ambiguity for both staff and customers regarding the specificity of Islamic offerings. This operational approach is confirmed by an executive from BMCI, who emphasised: “We choose not to follow the crowd. We believe that Islamic products do not really differ from conventional products, and we cannot create an entire subsidiary for just one product, namely Murabaha”. This statement highlights the perception of limited differentiation between conventional and Islamic products and justifies the use of shared teams and resources. As illustrated in Figure 1, the integration configuration demonstrates how Islamic banking activities are embedded within the conventional structure without creating a parallel entity, reducing operational costs and facilitating resource sharing but increasing the likelihood of confusion and misalignment between staff expertise and client expectations.

From a theoretical perspective, the integration model illustrates a strategy of exploitative ambidexterity (Visnjic et al., 2022), where banks extend existing infrastructures and capabilities to include Islamic offerings. This approach limits financial and organisational costs and allows banks to test market demand for Islamic products. However, reliance on shared resources constrains the development of specialised Islamic finance expertise.

As Markides and Charitou (2004) argue, managing dual logics within a single structure generates tensions between efficiency and legitimacy. In this configuration, the risk lies in weakening the distinct identity of Islamic finance, as customers may perceive these products as extensions of conventional banking rather than a differentiated alternative. Consequently, while integration supports short-term flexibility and efficiency, it raises concerns regarding the long-term sustainability and credibility of Islamic banking capabilities.

The phased separation strategy is exemplified by AWB, where Islamic products were initially embedded within the conventional banking structure before being progressively transferred to a dedicated subsidiary. This sequencing allowed the parent bank to maintain strategic control while gradually developing the capabilities required for autonomous Islamic operations. A bank manager at AWB explained: “We took time to succeed in an impossible marriage between halal products and a haram place, as some say, and afterwards, we had to divorce. Marriage and divorce, both were difficult to implement”. This metaphor illustrates the organisational difficulty of reconciling two logics governed by different normative foundations and highlights the tension embedded in the transition process. As illustrated by the phased separation configuration (see Figure 2), the model represents a gradual transition from integration to autonomy, a progressive reconfiguration that reduces risks associated with abrupt separation, including regulatory disruption, reputational instability, and operational discontinuity. Through incremental transfer of resources and competencies, the parent bank ensures continuity while developing the Islamic subsidiary.

From a theoretical perspective, this configuration reflects dynamic ambidexterity (Visnjic et al., 2022), combining exploitation of existing conventional capabilities with exploration of Islamic finance competencies. The sequencing of integration followed by separation reflects a learning-based adaptation process, where tensions between logics are managed progressively rather than immediately resolved.

However, this approach also presents constraints. Early integration phases may blur the distinctiveness of Islamic products, potentially affecting client trust. Conversely, the final separation requires significant investment in human resources, governance, and institutional branding. The phased model thus operates as a compromise between efficiency and legitimacy, allowing banks to experiment, learn, and adjust before committing to full structural separation (Markides and Charitou, 2004; Visnjic et al., 2022; Kumar et al., 2025).

The full separation strategy involves the creation of fully independent Islamic subsidiaries, often in collaboration with international experts in Islamic finance. In Morocco, four banks adopted this configuration: BCP – Al-Yousr Bank, BOA – BTI Bank, CAM – Al-Akhdar Bank, and CIH – Umnia Bank. This model ensures strict Sharia compliance, organisational clarity, and reduces internal competition between business models. A senior executive from BCP highlighted the importance of governance in this configuration: “The question is not whether conflicts exist between the two banks. These conflicts are there, and they are serious. The key question is whether the company manages these conflicts well, which will ultimately determine its success in both markets”. This statement underscores that operational autonomy must be complemented by effective governance mechanisms.

By establishing separate subsidiaries, banks allocate dedicated teams, systems, and financial resources to Islamic banking, thereby reducing ambiguity and reinforcing service quality. A senior manager from CAM added: “Having a separate Islamic subsidiary allows us to focus entirely on Sharia compliance and customer's needs without being constrained by conventional banking operations. It gives our team the freedom to operate efficiently while ensuring quality”.

As illustrated in Figure 3, the parent bank retains strategic oversight while preserving the operational independence of the subsidiary, ensuring a balance between control, legitimacy, and compliance.

From a theoretical standpoint, this configuration aligns with structural separation strategies, which argue that distinct organisational units are more effective in managing divergent institutional logics (Markides and Charitou, 2004; Chesbrough, 2007). It also reflects hybrid organisational design principles combining dedicated resource allocation with strategic coordination (Bourkha et al., 2025).

By fully separating operations, banks achieve dual legitimacy: operational legitimacy through compliance with Sharia principles and organisational legitimacy through clear governance structures. This configuration also reduces cannibalisation risks, as conventional and Islamic banking activities operate in distinct operational spaces. Full separation thus represents a deliberate strategic choice to ensure coherence between efficiency, compliance, and legitimacy in structurally divergent business models.

While operational coexistence configurations describe how strategic entry modes are translated into organisational arrangements, implementation mechanisms focus on how these configurations function in practice. In other words, configurations define structural choices and resource allocation patterns, whereas implementation mechanisms capture the concrete practices through which banks operationalise dual banking models. This includes internal mechanisms such as team specialisation, resource management, and coordination of operational tensions, as well as external mechanisms related to client communication, expectation management, and trust-building. This distinction avoids redundancy and clarifies the analytical progression from structural design to organisational practice.

The effective coexistence of conventional and Islamic business models in Moroccan banks relies on interrelated internal and external mechanisms involving resource allocation, team specialisation, capability transfer, and client communication. These findings illustrate how organisational ambidexterity and resource recombination are mobilised in practice, showing that the simultaneous exploitation of existing capabilities and exploration of new banking logics requires careful orchestration of human, technological, and financial resources, alongside adaptive management of client expectations.

The coexistence of conventional and Islamic business models in Moroccan banks requires differentiated management of human resources, organisational structures, and operational trade-offs across the three observed configurations. In Islamic windows, employees simultaneously handle conventional and Islamic products. Training is generally limited to short introductory sessions, while supervision remains occasional, as conventional banking constitutes the core activity. This configuration allows banks to extend Islamic offerings without dedicated investment in specialised structures, but it generates operational ambiguity for staff and clients. As an executive from BMCI stated, “These box offices were created only to pretend to meet the demands of idealistic customers who are demanding in terms of Sharia compliance”. This dual responsibility creates tensions in daily operations, as illustrated by a branch manager at CDM who noted, “Balancing our day-to-day conventional tasks with the Sharia requirements sometimes forces us to prioritise one over the other, especially during peak periods, which can create stress and inconsistencies in customer advice.” This reflects the inherent trade-off between efficiency and compliance within integrated configurations.

In contrast, Islamic subsidiaries rely on fully dedicated teams specialising in Islamic finance and benefiting from targeted training and appropriate resources. This separation enhances operational clarity and strengthens Sharia compliance. As an executive from BCP explained, “Our bank is an Islamic bank, while the others (windows) are conventional banks disguised with Sharia”. Similarly, a subsidiary executive from BOA added, “We have specialised human resources trained by our partners with expertise in Islamic finance, which is not the case for foreign banks in Morocco that have opted for Islamic windows”.

In the phased separation strategy, banks gradually transfer resources, competencies, and organisational knowledge from the parent conventional bank to the new Islamic subsidiary. This progressive allocation facilitates a smooth transition, mitigates operational risks, and enables the subsidiary to develop market-specific expertise over time. Shared resources, including financing, technology, and experienced personnel, support the subsidiary while maintaining coordination with the parent organisation. This approach is confirmed by a division manager from AWB: “We share almost everything that can help us succeed with our subsidiary Assafaa Bank, such as financing means and resources, which are limited since Assafaa Bank's clients come only for financing but keep their operational and savings accounts with AWB”. An HR manager at AWB further explained, “We started by lending some of our experienced staff and gradually built a team fully dedicated to Assafaa Bank. This allowed the subsidiary to learn quickly without disrupting the conventional bank operations.” Similarly, a finance manager noted, “Resources were transferred step by step, so that the new subsidiary could operate independently while still leveraging some parent bank support during its early years.” The gradual transfer of resources also requires careful prioritisation of knowledge and expertise, as a finance manager from AWB emphasised: “We had to decide which competencies to move first — IT, risk management, or client advisory — because moving everything at once would have disrupted both banks. This sequencing was critical to maintain operational continuity.” These mechanisms collectively sustain operational ambidexterity by supporting expertise development, organisational coordination, and Sharia compliance (Visnjic et al., 2022; Kumar et al., 2025; Bourkha et al., 2025).

Client-facing mechanisms play a central role in managing the coexistence of conventional and Islamic banking logics, as banks adapt communication, education, and segmentation strategies to reduce confusion and align services with heterogeneous client expectations. Client segmentation distinguishes four categories: idealists, pragmatists, opportunists, and the unbanked, and this classification supports tailored communication strategies. As one executive explained, “For some clients, participative banks are seen as Halal, while their conventional counterparts are viewed as non-halal. We have to explain the difference carefully and manage expectations.” Awareness and education are therefore essential to maintaining clarity, as illustrated by a branch manager who stated, “It is not a simple name (Islamic bank) but we really are one, and we remind our customers and explain to them, in some cases, that earning money without work and without merit is considered an immoral act.”

Operational practices also vary across configurations. In Islamic windows, staff rely on limited training and centralised support: “We did not receive formal training but only a brief presentation of ‘Murabahah,’ and in case of issues, we contact a dedicated call centre.” In subsidiaries, full specialisation improves service quality: “Our teams focus exclusively on Islamic financial services. This allows us to provide accurate advice and reduce any confusion for the client.” In phased separation, gradual transfer of competencies ensures continuity: “We share almost everything that can help us succeed with our subsidiary Assafaa Bank, such as financing means and resources, which are limited since Assafaa Bank's clients come only for financing but keep their operational and savings accounts with AWB.”

However, communication complexity persists across configurations, as another manager noted: “Sometimes clients mix up products or think all banks are Sharia-compliant. We must prioritise which explanations to give first — otherwise, confusion spreads quickly.” Through these differentiated approaches, banks ensure that client expectations are managed according to segment while maintaining clarity on product features and Sharia compliance. These practices illustrate how operational and normative logics are aligned to preserve both effectiveness and legitimacy (Jatmiko et al., 2024; Ben Mimoun et al., 2025).

Across all configurations, the findings show that balancing efficiency, legitimacy, and Sharia compliance depends on the coordinated deployment of organisational capabilities and client-oriented communication practices (see Figure 4).

Figure 4 synthesises the dynamic relationships identified across the findings by showing how Moroccan banks manage the coexistence of conventional and Islamic banking logics through interconnected strategic, organisational, and operational mechanisms. The model is structured as a sequential process in which entry modes shape operational coexistence configurations, which subsequently determine the implementation mechanisms mobilised internally and externally.

At the strategic level, banks adopt different entry modes ranging from Islamic windows to phased separation and fully independent Islamic subsidiaries. These choices define the degree of organisational separation between conventional and Islamic banking activities. Operationally, each entry mode generates a specific coexistence configuration: integration, progressive separation, or full separation. These configurations influence how resources, competencies, governance mechanisms, and communication practices are organised.

The model further demonstrates that internal and external mechanisms interact continuously. Internally, differentiated resource allocation, team specialisation, and progressive capability transfer support the operational management of dual banking logics. Externally, client segmentation, communication, and trust-building mechanisms reinforce legitimacy and reduce ambiguity regarding Sharia compliance. These mechanisms are mutually reinforcing: stronger internal specialisation improves service quality and client trust, while clearer client communication strengthens the legitimacy of organisational arrangements.

The framework extends prior ambidexterity research (e.g. Visnjic et al., 2022) in several ways. First, it conceptualises coexistence not as a static choice between integration and separation, but as an adaptive continuum in which banks may progressively transition from integrated to autonomous structures. Second, it shows that dual business model management depends not only on structural configurations but also on operational implementation mechanisms that coordinate competing institutional logics on a daily basis. Third, the model introduces legitimacy management as a central dimension of operational ambidexterity in Islamic banking, where efficiency objectives must continuously be balanced with Sharia compliance and customer trust. By integrating strategic choices, organisational configurations, and implementation mechanisms within a single framework, the model provides a more processual understanding of how dual banking logics are operationalised in emerging markets.

This section discusses the main contributions of the study and outlines its implications for both theory and practice. Building on the empirical findings, it highlights how the research advances the understanding of dual business model coexistence in the banking sector, particularly within emerging market contexts. The section also acknowledges the study's limitations and proposes several avenues for future research that could further deepen the analysis of organisational ambidexterity, strategic hybridisation and the management of competing institutional logics, as discussed in previous studies (Markides and Charitou, 2004; Chesbrough, 2007; Visnjic et al., 2022).

This study contributes to the literature on the coexistence of dual business models beyond a simple description of Moroccan banking practices. First, it clarifies how organisations can manage competing logics simultaneously within an emerging market context, emphasising conceptual mechanisms rather than operational details. Importantly, these mechanisms are not context-specific to Morocco, but reflect general organisational processes applicable to other settings characterised by institutional complexity and competing value creation logics. Second, it enriches the understanding of organisational ambidexterity and resource recombination in hybrid environments, building on prior work (Markides and Charitou, 2004; Chesbrough, 2007; Visnjic et al., 2022). Third, it explicitly connects normative, ethical and organisational constraints to strategic dynamics, thereby offering a more integrated framework than that commonly presented in the existing literature.

The study illustrates how the exploitation of existing capabilities, combined with the exploration of new logics, constitutes a fundamental mechanism for managing dual business models. Rather than treating ambidexterity as an abstract concept, our findings indicate that its effectiveness depends on a sequenced orchestration of resources and the progressive specialisation of teams. From a theoretical perspective, this extends the work of Tushman and O'Reilly (1996) and Visnjic et al. (2022) by suggesting that ambidexterity in emerging contexts requires not only a balance between exploration and exploitation, but also careful attention to operational tensions and institutional legitimacy.

The literature on business model duality often emphasises physical or regulatory separation (Broekhuizen et al., 2018). However, our analysis suggests that team specialisation and knowledge transfer play a central role in reducing logical conflicts and fostering legitimacy. Conceptually, this insight enriches the notion of structural ambidexterity by incorporating organisational learning and capability transfer. From this perspective, the separation of resources functions not merely as a structural arrangement but also as a strategic lever supporting compliance, service quality and organisational credibility.

A key contribution of this study lies in conceptualising adaptive sequencing as a mechanism for managing dual business models. Coexistence does not appear as a static organisational state but rather as an evolving process in which organisations progressively develop competencies, test legitimacy and mitigate risk. This interpretation reinforces the concepts of dynamic ambidexterity and resource recombination (Chesbrough, 2007; Markides and Charitou, 2004), highlighting that organisational learning unfolds through gradual adjustments and cumulative experience rather than through abrupt structural transformations.

The study demonstrates that the effectiveness of dual business models relies on the strategic coordination of human, technological and financial resources, together with alignment between organisational structures and customer experience. Theoretically, this finding enriches the literature on operational ambidexterity and strategic hybridisation by emphasising that the simultaneous management of competing logics requires systematic orchestration in order to preserve legitimacy, credibility and organisational performance.

In synthesis, the results and their discussion highlight several theoretical contributions. The study offers original insights into the management of dual business models in an emerging market context by demonstrating that the success of hybrid strategies relies on balancing the exploitation of existing competencies with the exploration of new practices. Strategic hybridisation therefore reflects the dynamics of organisational ambidexterity, where the selective integration of new logics must coexist with the optimisation of established capabilities. Structural separation and team specialisation emerge as crucial mechanisms for resolving tensions between competing logics and ensuring both compliance and legitimacy, while adaptive and sequential approaches facilitate organisational learning, resource recombination and the gradual legitimisation of dual activities. These mechanisms illustrate that the coexistence of diversified business models represents not only an operational challenge but also a strategic and evolutionary process that strengthens organisations' capacity to innovate while maintaining credibility.

At the same time, effective coordination of resources, whether human, technological or financial, together with systematic training planning, appears as a critical factor in sustaining such coexistence by minimising operational and normative tensions. Alignment between organisational structures, managerial practices and customer communication also proves essential for preserving trust and institutional legitimacy in an environment where economic and ethical expectations converge. Taken together, these insights demonstrate that dual business model coexistence is not a phenomenon specific to Moroccan banking, but reflects a broader theoretical issue concerning how organisations manage multiple value creation logics under institutional constraints. The study therefore contributes by identifying generalisable mechanisms of ambidexterity, structural separation and resource orchestration, which extend beyond the Moroccan context and may apply to other hybrid organisational settings.

The findings of this study offer several practical insights for managers seeking to govern the coexistence of conventional and Islamic banking models. Islamic windows, for instance, function as a strategic instrument enabling banks to introduce Sharia-compliant products without substantial financial investment. Nevertheless, their effectiveness depends strongly on the quality of staff training and supervision to prevent dilution of the Islamic offering and to ensure consistent application of Sharia principles. Managers must therefore balance the advantages of flexibility and low entry costs with the need for competence development and operational oversight, highlighting that the management of dual models extends beyond mere regulatory compliance.

The creation of specialised subsidiaries represents a second major managerial lever. By allocating dedicated teams and resources to Islamic activities, such structures facilitate the development of specialised expertise, reinforce legitimacy among clients and regulators, and reduce operational and organisational ambiguities. Managers are thus better positioned to ensure service quality and compliance with Sharia principles while benefiting from synergies with the parent bank in terms of processes and resources. This approach demonstrates that organisational structuring and capability specialisation constitute essential tools for managing duality and sustaining institutional credibility.

Finally, phased separation strategies combined with differentiated customer management appear as complementary mechanisms for minimising risk and supporting gradual capability development. The sequential transfer of resources and expertise allows banks to progressively build Islamic finance competencies while preserving the stability of their conventional operations. Simultaneously, customer segmentation and targeted communication enable organisations to tailor offerings to distinct expectations, thereby maintaining coherence between conventional and Islamic business models. Overall, these practices indicate that the coexistence of dual models represents a complex managerial challenge requiring strategic planning, staff training, and careful organisation of customer interactions.

This study presents several limitations that should be considered when interpreting the findings and guiding future research. First, its geographical scope is confined to the Moroccan context, which is characterised by a specific regulatory framework and a particular stage of Islamic finance adoption. The organisational dynamics and coexistence strategies observed in this setting may differ in other emerging or developed markets where regulatory, cultural, and competitive conditions vary substantially. Consequently, the generalisation of the results should be approached with caution, and comparative international studies would be necessary to validate and extend these insights.

Second, the temporal dimension constitutes an additional limitation. The data analysed reflect a specific stage in the development of Islamic subsidiaries and windows in Morocco. Given the rapid evolution of the financial sector, particularly under the influence of digitalisation, financial innovation, and shifting customer expectations, the managerial and organisational practices observed may change considerably over time. These considerations suggest that longitudinal studies would be particularly valuable in examining how hybrid strategies and organisational ambidexterity evolve within Islamic finance.

The findings of this study should also be interpreted in light of specific theoretical boundary conditions. The results are situated within an emerging market context characterised by evolving regulatory frameworks, which shape the structuring and governance of dual business models. In addition, the Moroccan banking sector reflects a particular stage in the institutionalisation of Islamic finance, where coexistence strategies are still in a consolidation phase. Furthermore, the study is embedded in a highly regulated financial environment, which constrains organisational flexibility and influences managerial decision-making. Taken together, these conditions indicate that the mechanisms identified in this research are most applicable to contexts characterised by institutional transition, regulatory constraint, and emerging market dynamics. Consistent with Yin's (2018) notion of analytic generalisation, these findings are intended to contribute to theory rather than statistical generalisation, and their transferability depends on the similarity of institutional and regulatory conditions across comparable organisational contexts.

Several avenues for future research could extend and deepen the insights generated by this study. As suggested through the previous section, a first direction concerns international comparison. Examining the coexistence of dual banking models in other emerging or developed markets could help identify both universal and context-specific features of hybrid strategies. Such comparative research would clarify how institutional, cultural, and regulatory factors influence the practical implementation of organisational ambidexterity and the legitimisation of Islamic financial products.

A second avenue relates to digitalisation and innovation. Digital technologies are profoundly transforming banking practices by facilitating resource coordination, service automation, and customer interaction. Investigating how these technologies affect the simultaneous management of conventional and Islamic logics could improve our understanding of the opportunities and constraints associated with strategic hybridisation in the digital era, as well as their implications for organisational performance, compliance, and customer satisfaction.

Finally, organisational learning represents a crucial dimension for advancing the understanding of strategic duality. The processes through which competencies are transferred and accumulated across phases of integration, phased separation, and full structural separation remain insufficiently documented. Future research examining these mechanisms could shed light on the conditions that enable knowledge accumulation, resource recombination, and organisational adaptation when firms operate under competing value-creation logics. Such perspectives would contribute to enriching the literature on hybrid strategies and organisational ambidexterity within the banking sector and beyond, particularly in organisations confronted with multiple and competing institutional logics.

This study provides an integrated understanding of how conventional banks in Morocco organise and manage the coexistence of conventional and Islamic business models. By examining strategic entry modes, operational configurations, resource management, team specialisation, and client communication, it highlights that dual banking coexistence is a dynamic, evolving process. Effective management relies on balancing exploitation of existing capabilities with exploration of new logics, sequencing organisational adjustments, and aligning internal resources with client expectations.

The findings underscore the importance of structural separation, phased implementation, and careful orchestration of human, technological, and financial resources, as well as team specialisation and adaptive client communication, in mitigating tensions between divergent logics. Overall, managing dual business models requires a holistic approach that integrates strategic, operational, and normative dimensions.

These insights provide a conceptual foundation for scholars and practitioners seeking to navigate the challenges of dual-logics management, offering lessons relevant not only to the Moroccan banking sector but also to other industries facing competing value-creation logics.

The authors would like to express their sincere gratitude to the anonymous reviewers for their exceptionally constructive, rigorous, and insightful comments, which greatly strengthened the theoretical and empirical contributions of this manuscript. They also wish to thank the Associate Editor for the careful handling of the manuscript and for the valuable editorial guidance provided throughout the review process.