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Sharäªê¿Ah-Compliant Fintech Usage Among Microentrepreneurs In Malaysia: An Extension Of Utaut Model

Author

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  • Nik Hadiyan Nik Azman

    (School of Management, Universiti Sains Malaysia, Malaysia)

  • Mohd Zaidi Md Zabri

    (Faculty of Business and Economics, University of Malaya, Malaysia)

Abstract

Fintech has been beneficial to the financial services industry and has markedly enhanced financial inclusivity. While the fintech has already made its mark, there has been somewhat limited use of sharīʿah-compliant fintech (such as P2P lending, crowdfunding, wealthtech, e-wallets) by Muslim microentrepreneurs (MEs) in Malaysia. Hence, this study examines the factors that affect sharīʿah-compliant fintech usage and its effect on income sustainability via an extended Unified Theory of Acceptance and Use of Technology (UTAUT). One hundred sixty-five (165) questionnaires were distributed to Muslim MEs who are users of sharīʿah-compliant fintech. This study reveals that performance expectancy and facilitating conditions have positive and significant effects on the use of sharīʿah-compliant fintech. The extended relationship of sharīʿah-compliant fintech adoption and income sustainability also presents a significant and positive relationship in which sharīʿah-compliant fintech has the potential to increase and, more importantly, sustain MEs’ income level.

Suggested Citation

  • Nik Hadiyan Nik Azman & Mohd Zaidi Md Zabri, 2022. "Sharäªê¿Ah-Compliant Fintech Usage Among Microentrepreneurs In Malaysia: An Extension Of Utaut Model," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 8(2), pages 305-324, May.
    • Handle: RePEc:idn:jimfjn:v:8:y:2022:i:2g:p:305-324
    DOI: https://doi.org/10.21098/jimf.v8i2.1417
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    More about this item

    Keywords

    Fintech; Sharīʿah-compliant fintech; Muslim micro-entrepreneurs; UTAUT;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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