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Investigating the Factors Affecting Muslim Consumers’ Attitude Towards Adopting Cryptocurrency: Does Religiosity Matter?

In: Contemporary Business Research in the Islamic World

Author

Listed:
  • Youssef Chetioui

    (Al Akhawayn University in Ifrane)

  • Hind Lebdaoui

    (Al Akhawayn University in Ifrane)

  • Soukaina Kanzi Balghiti

    (Al Akhawayn University in Ifrane)

Abstract

The current research aims to investigate the key factors influencing the acceptance of cryptocurrency among potential investors in Morocco. To achieve this objective, we propose and test an integrated framework combining factors from the technology acceptance model (TAM), the theory of planned behavior (TPB), and the perceived risk theory. Data was gathered through a self-administered questionnaire distributed from 212 Moroccan respondents, representing diverse demographics in terms of gender, age, educational backgrounds, and income levels, and analyzed using the partial least square (PLS) estimation. Our findings indicate that the respondents' attitude toward cryptocurrency significantly and positively influences their intention to invest in it. Alongside, attitude toward cryptocurrency is predominantly shaped by digital literacy, perceived usefulness, and trust. Investors’ trust in cryptocurrency was also positively influenced by the perceived regulatory support. Still, Islamic religiosity had no impact moderating impact in the relationship between attitude and the intention to invest in cryptocurrency. Our results suggest valuable insights for both investors and financial policymakers.

Suggested Citation

  • Youssef Chetioui & Hind Lebdaoui & Soukaina Kanzi Balghiti, 2024. "Investigating the Factors Affecting Muslim Consumers’ Attitude Towards Adopting Cryptocurrency: Does Religiosity Matter?," Springer Proceedings in Business and Economics, in: John Fraedrich & Marina Pirtskalava & Tornike Khoshtaria & Hasan Terzi & Mehmet Bayirli & Baker Al S (ed.), Contemporary Business Research in the Islamic World, pages 7-25, Springer.
  • Handle: RePEc:spr:prbchp:978-981-97-5400-7_2
    DOI: 10.1007/978-981-97-5400-7_2
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