Journal of Finance and Islamic Banking
Volume 6, Issue 1, July 2023, 7254
Full Lenght Article
The Driving Factors of Customers' Intentions to Use Micro Waqf Bank Financing: A Behavioral and Religiosity Approach
Under a Creative Commons license
Open Access
Abstract
Bank Waqaf Mikro (BWM) is a sharia-based microfinance institution whose existence is needed by the community. The basic concept of the BWM is to develop entrepreneurship among productive poor people. The BWM disburses financing which plays a very important role in encouraging the development of productive poor people's businesses. Due to the importance of the existence of the BWM, this research focuses on how to maintain the sustainability of this institution, by studying the contributor to the formation of customer intent to use BWM financing. This research uses the Theory of Planned Behavior (TPB) approach by involving the internal and external environment reflected in attitude/ATT, subjective norms/SN, and perceived behavioral control/PBC. In addition, this research involved the Religiosity variable (RG) as a moderating variable or reinforcement of each TPB variable. The results show that internal factors (attitude/ATT) influence customers to use financing services provided by the BWM. Meanwhile, external factors reflected in the perceived behavioral control or the ease of accessing the BWM financing products are important motivators for customers, supported by instilled religious values that can strengthen customer intent to use BWM financing products. Thus, the ATT and PBC variables have a positive and significant effect on customer intent (INT) with the RG variable proven to moderate (strengthen) the relationship between the ATT and the PBC variables.
Keywords
customer intent, BWM, behavior, religiosity
Declarations
Publisher's Note
Universitas Islam Negeri Raden Mas Said Surakarta remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
References
Aisyah, S.(2021).Pemberdayaan ekonomi masyarakat sekitar pesantren studi : Bank wakaf mikro al fithrah wava mandiri Surabaya. IZZI : Jurnal Ekonomi Islam,1(1),19-27.
Ajzen, I. (1985).From intentions to actions: A theory of planned behavior”, Kuhl, J. & Beckmann, J. (Ed.s), Action Control, SSSP Springer Series in Social Psychology. Springer, Berlin, Heidelberg,11-39.
Ajzen, I. (1991),Theory of planned behavior: organizational behavior and human decision processes. Organizational Behavior and Human Decision Processes, 50(2),179-211.
Al-Ajam, A. S., & Nor, K. M. (2013). Influencing factors on behavioral intention to adopt Internet banking service. World Applied Sciences Journal, 22(11), 1652-1656.
Albaity, M. dan Rahman, M. (2021). The mediating role of trust and attitude. Sustainability, 13,10758,1-19.
Ali, A. Y. S., & Jama, A. K. A. (2016). Determinants of Islamic insurance acceptance: Empirical evidence from Somalia. European Journal of Business and Management, 8(15), 102-108.
Ali, M., & Chin-Hong, P. (2015). Factors affecting intention to use Islamic personal financing in Pakistan: Evidence from the modified TRA model. https://mpra.ub.uni-muenchen. de/66023/1/MPRA_paper_66022.pdf.
Allen, M. (2017). The sage encyclopedia of communication research methods (Vols. 1-4). Thousand Oaks, CA: SAGE Publications, Inc.
Al-Swidi, A., Huque, S.M.R., Hafeez, M.H.,&Shariff, M.N.M. (2014).The role of subjective norms in theory of planned behavior in the context of organic food consumption. British Food Journal,116(10),1561-1580.
Arinta, Y.N.,Nabila, R.,A., Ulil, A. (2020). Eksistensi bank wakaf mikro dan implikasinya terhadap kesejahteraan masyarakat dalam perspektif Islam. Jurnal Ilmiah Ekonomi Islam,60(2),372-378.
Belsley, D.A., Kuh, E., & Welsch, R.E. (1980). Regression diagnostics: identifying influential data and sources of collinearity, New York:Wiley.
Borzooei, M., & Asgari, M. (2013). The halal brand personality and its effect on purchase intention. Interdisciplinary Journal of Contemporary Research in Business, 5(3), 481-491.
Cahyani, S., Zuhirsyan, M., & Marpaung, M. (2021). Peran bank wakaf mikro dalam meningkatkan ekonomi produktif pelaku UKM sekitar pesantren Mawaridus Salam. Jurnal Budgeting Akuntansi. 2(1),127-134.
Cote, J.A. & Burkley, M.R. (1987). Estimating trait, method, and error variance: generalizing across 70 construct validation studies. Journal of Marketing Research, 24(3),315-318.
Echchabi, A., & Aziz, H. A. (2012). Empirical investigation of customers’ perception and adoption towards Islamic banking services in Morocco. Middle-East Journal of Scientific Research, 12(6), 849-858.
Farahani, Z.H., & Musa, G., (2008). Residents’ attitudes, & perception towards tourism development: a case study of Masooleh, Iran. Tourism Management (ISI), 29(6), 1233-1236.
Field, A. (2000). Discovering Statistics using SPSS for Windows, Sage Publication, London-Thousand Oaks-New Delhi
Field, A. (2000).Discovering Statistics using SPSS for Windows. London-Thousand Oaks-New Delhi: Sage Publication.
Firmandhani. (2016).Faktor-faktor yang mempengaruhi niat masyarakat mikro dalam membeli produk asuransi mikro syariah. Thesis tidak dipublikasikan.
Gazley, A., Hunt, A., & McLaren, L. (2015). The effects of location-based-services on consumer purchase intention at point of purchase. European Journal of Marketing, 49(9/10),1686-1708.
Ghamisi, P. & Benediktsson, J.A. (2015). Feature selection based on hybridization of generic algorithm and particle swarm optimization. IEE Geoscience and Remote Sensing Letters, 12(2),309-313.
Hair, J.F.J., Black, W., Babin, B.J, Anderson. R.E., & Tatham, R.L. (2006). Multivariate Data Analysis (Vol.6). Upper Saddle River: Pearson Prentice Hall.
Haque, A.(2010). Islamic banking in Malaysia: A study of attitudinal differences of Malaysian customers. European Journal of Economics, Finance and Administrative Sciences,(18), 7-18.
Harahap, Isnaini, Mailin, & Amini Salisa. (2019). Peran bank wakaf mikro syariah di pesantren mawaridussalam dalam pemberdayaan ekonomi masyarakat. TANSIQ.2(2), 154-164.
Hawkins, D.I. and Mothersbaugh, D.L. (2010). Consumer behavior: Building marketing strategy 11th ed. New York : McGraw Hill.
Hossain, Sharif & Khan, Mohd Azam. (2016). Financial sustainability of microfinance institutions (mfis) of Bangladesh. Developing Country Studies,6(6),69-78.
https://www.ojk.go.id/id/berita-dan-kegiatan/info-terkini/Documents/Pages/Infografis-Bank-Wakaf-Mikro-Mendorong-Ekonomi-Umat/INFOGRAFIS%20BWM-3.pdf, diakses 5 Oktober 2021.
Karatepe, O.M., Yavas, U., & Baba, E.(2005). Measuring service quality of banks:scale development and validation. Journal of Retailing and Consumer Services, 12 (5). 373-383.
Mansour, I.H.F. & Diab, D.M.E. (2016). The relationship between celebrities’ credibility and advertising effectiveness: the mediation role of religiosity. Journal of Islamic Marketing, 7(2), 148-166.
Md Husin, M., & Ab Rahman, A. (2016). Predicting intention to participate in family takaful scheme using decomposed theory of planned behaviour. International Journal of Social Economics, 43(12), 1351-1366.
Mokhlis, S.(2009). Relevancy and measurement of religiosity in consumer behavior research. International Business Research, 2(2),75-84.
Murniati, W.(2021).Analisis pengaruh pengetahuan dan lingkungan sosial sebagai mediator dalam hubungan peligiusitas dan minat menabung mahasiswa di perbankan syariah. Jurnal Nisbah, 4(1),42-49.
Nizar, S. dan Marzouki, R. (2015). Consumer attitudes and purchase intentions toward Islamic banks: the influence of religiosity. International Journal of Bank Marketing, 33, 143-161.
Osborne, J.W., Costello, A.B., & Kellow, J.T. (2008). Best practices in exploratory factor analysis, in Osborne, J.W. (Ed.), Best Practices in Quantitative Methods, Sage Publishing, Thousand Oaks,205-213.
Pace, S. (2014). Effects of intrinsic and extrinsic religiosity on attitudes toward products: empirical evidence of value-expressive and social-adjustive functions. The Journal of Applied Business Research, 3(4),1227-1338.
Perneger, T.V., Courvoisier, D.S., Hudelson, P.M., & Ageron, A.G. (2015). Sample size for pre-tests of questionnaires. Quality of Life Research,24(1),147-151.
Pettinger, C., Holdsworth, M., & Gerber, M. (2004). Psycho-social influences on food choice in Southern France and Central England. Appetite, 42(3), 307-316.
Podsakoff, P.M., MacKenzie, S.B., Lee, J.Y. and Podsakoff, N.P. (2003), “Common method biases in behavioral research: a critical review of the literature and recommended remedies”, Journal of Applied Psychology, Vol. 88 No. 5, pp.879-903, doi: 10.1037/0021-9010.88.5.879.
Pratiwi, I.E., Affandy, F.F., dan Karma, A. (2020). Determinant of customers’ intention to use Islamic Banking (case study in Jayapura City). IKONOMIKA: Jurnal Ekonomi dan Bisnis Islam, 5(1), 55-70.
Rozalinda & Nurhasnah. (2020). Bank wakaf mikro: Its operations and its role in empowering communities surrounding Islamic boarding school in Indonesia. Journal of Islamic and Social Studies,6(1),45-63.
Siang, L. C., & Weng, L. K. (2011). Factors affecting non-Muslim consumers’ towards intention to use Islamic banking products and services. Paper presented at the Las Vegas International Academic Conference (15-17), Las Vegas, NV.
Sulistiani, L. S.,Yunus, M.B., & Misfah, E.(2019). Peran dan legalitas bank wakaf mikro dalam pengentasan kemiskinan berbasis pesantren di Indonesia. Jurnal Bimas Islam.Vol.12 No.1, 1-26.
Susanti, S.A., Soemitro, R.A.A., Suprayitno, H., & Ratnasari, V.(2019).Searching the appropriate minimum sample size calculation method for commuter train passenger travel behavior survey. Journal of Infrastructure & Facility Asset Management, 1(1),47-60.
Sweldens, S., Corneille, O. & Yzerbyt, V. (2014),The role of awareness in attitude formation through evaluative conditioning. Personality and Social Psychology Review, 18 (2),187-209.
Wahyuni, S. (2012). Moslem community behavior in the conduct of Islamic bank: The moderation role of knowledge and pricing. Procedia-Social and Behavioral Sciences, 57(10), 290–298.
Wang, Y., Wiegerinck, V., Krikke, H. & Zhang, H. (2013). Understanding the purchase intention towards remanufactured product in closed-loop supply chains: An empirical study in China. International Journal of Physical Distribution and Logistics Management, 43(10), 866-888.
Watkins, M.W.(2018). Exploratory factor analysis: A guide to best practice. Journal of Black Psychology, 44(3),219-246.
Copyright and permissions
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Bibliographic Information
