THE EFFECT OF ISLAMIC FINANCIAL LITERACY, SPIRITUAL INTELLIGENCE, AND BUSINESS ETHICS ON THE BEHAVIOR OF THE MILLENNIAL GENERATION WITH THE MEDIATING VARIABLE OF INTENTION TO USE ISLAMIC BANKING SERVICES IN DEPOK CITY
DOI:
https://doi.org/10.31539/costing.v7i6.13065Keywords:
Financial Literacy, Intention, Sharia Banking Use Behavior.Abstract
ABSTRACT
Sharia banking is growing rapidly, no less than conventional banks. The Sharia Banking industry illustrates an increase even though the movement is slow. This research aims to analyze the influence of Sharia Financial Literacy, spiritual intelligence, and business ethics on the Intention to Use Sharia Banking Services while testing the mediating role of the intention variable. This research is explanatory research with a quantitative approach. The population used in this research is the millennial generation, namely the generation born in 1981-1996 (currently aged 28-43 years) who have used or are presently using Sharia Banks in Depok City, with a sample of 157 people. The analysis method used is SEM-PLS. The research results show that Sharia Financial Literacy, Spiritual Intelligence, and Business Ethics have a positive effect on Intention to Use Sharia Banking Services. Intention to Use acts as a mediating variable on the influence of Financial Literacy, spiritual intelligence, and business ethics on Sharia Banking Use Behavior
References
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Allah Pitchay, A. Bin, Mohd Thas Thaker, M. A. Bin, Azhar, Z., Mydin, A. A., & Mohd Thas Thaker, H. Bin. (2019a). Factors persuade individuals’ behavioral intention to opt for Islamic bank services. Journal of Islamic Marketing, 11(1), 234–250. https://doi.org/10.1108/JIMA-02-2018-0029
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Alsmadi, A. A. (2024). Exploring the moderating role of religious orientation on Islamic Fintech adoption. International Journal of Islamic and Middle Eastern Finance and Management, 17(2), 310–327. https://doi.org/10.1108/IMEFM-09-2023-0315
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Anwar, Md. A., Gani, Aa. M. O., & Rahman, M. S. (2020). Effects of spiritual intelligence from Islamic perspective on emotional intelligence. Journal of Islamic Accounting and Business Research, 11(1), 216–232. https://doi.org/10.1108/JIABR-10-2016-0123
Aviatri, P., & Nilasari, A. P. (2021). Analisis Penerapan Business Ethics terhadap Kelangsungan Usaha Perusahaan Dagang. Accounthink : Journal of Accounting and Finance, 6(02). https://doi.org/10.35706/acc.v6i02.5621
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Bell, E., Winchester, N., & Wray-Bliss, E. (2021). Enchantment in Business Ethics Research. Journal of Business Ethics, 174(2), 251–262. https://doi.org/10.1007/s10551-020-04592-4
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Hassan, M. K., İslam, M. T., Ahmed, Z., & Sarker, J. I. (2023). Islamic banking in Bangladesh: a literature review and future research agenda. International Journal of Islamic and Middle Eastern Finance and Management, 16(5), 1030–1054. https://doi.org/10.1108/IMEFM-05-2022-0185
Helmi, A., Sarasi, V., Kaltum, U., & Suherman, Y. (2021). Discovering the values of generation X and millennial consumers in Indonesia. Innovative Marketing, 17(2), 1–8. https://doi.org/10.21511/im.17(2).2021.01
Hilali, A. (2021). The Qur’ān before the book - History and concepts of Qur’ānic variants (qirā’āt). مجلة كلية الشريعة و الدراسات الإسلامية, 38(2), 233–245. https://doi.org/10.29117/jcsis.2021.0275
Hoque, M. N., Rahman, M. K., Said, J., Begum, F., & Hossain, M. M. (2022a). What Factors Influence Customer Attitudes and Mindsets towards the Use of Services and Products of Islamic Banks in Bangladesh? Sustainability, 14(8), 4703. https://doi.org/10.3390/su14084703
Hoque, M. N., Rahman, M. K., Said, J., Begum, F., & Hossain, M. M. (2022b). What Factors Influence Customer Attitudes and Mindsets towards the Use of Services and Products of Islamic Banks in Bangladesh? Sustainability, 14(8), 4703. https://doi.org/10.3390/su14084703
Ilyana, S., Purna, F. P., & Friantoro, D. (2022). Islamic Financial Literacy and Its Effects on Intention to Use Islamic Bank. Ihtifaz: Journal of Islamic Economics, Finance, and Banking, 4(2), 97–110. https://doi.org/10.12928/ijiefb.v4i2.2622
Khan, M. Y., Ud Din, S., Khan, M. J., & Javeed, A. (2021). Dynamics of selecting Islamic home financing. International Journal of Finance & Economics, 26(4), 5005–5016. https://doi.org/10.1002/ijfe.2051
M. Kethan, & Mahabub Basha S. (2022). Relationship of Ethical Sales Behaviour with Customer Loyalty, Trust and Commitment: A Study with Special Reference to Retail Store in Mysore City. East Asian Journal of Multidisciplinary Research, 1(7), 1365–1376. https://doi.org/10.55927/eajmr.v1i7.874
Mulyanti, K., & Husaen, M. (2024). PENGARUH TOTAL ASET TERHADAP LABA BERSIH PADA BANK UMUM SYARIAH YANG TERDAFTAR DI OTORITAS JASA KEUANGAN. LAND JOURNAL, 5(1), 84–92. https://doi.org/10.47491/landjournal.v5i1.3371
Musa, M. A., Sukor, M. E. A., Ismail, M. N., & Elias, M. R. F. (2020). Islamic business ethics and practices of Islamic banks. Journal of Islamic Accounting and Business Research, 11(5), 1009–1031. https://doi.org/10.1108/JIABR-07-2016-0080
Okello Candiya Bongomin, G., Mpeera Ntayi, J., & Akol Malinga, C. (2020). Analyzing the relationship between financial literacy and financial inclusion by microfinance banks in developing countries: social network theoretical approach. International Journal of Sociology and Social Policy, 40(11/12), 1257–1277. https://doi.org/10.1108/IJSSP-12-2019-0262
Puspita, A. T. (2024). Halal Food Shopping Behavior of Millennials: Evidence in Indonesia. Islamic Marketing Review, 2(2). https://doi.org/10.58968/imr.v2i2.347
Rahman, Z. A., & Shah, I. M. (2015). Measuring Islamic Spiritual Intelligence. Procedia Economics and Finance, 31, 134–139. https://doi.org/10.1016/S2212-5671(15)01140-5
Setiawan, D., Darwanto, D., & Gunanto, E. Y. A. (2021). Determinants of Behavioral Intentions to Use Sharia Financial Technology (Fintech). Signifikan: Jurnal Ilmu Ekonomi, 10(2), 325–342. https://doi.org/10.15408/sjie.v10i2.21451
Shandy Utama, A. (2020). PERKEMBANGAN PERBANKAN SYARIAH DI INDONESIA. UNES Law Review, 2(3), 290–298. https://doi.org/10.31933/unesrev.v2i3.121
Strydom, H. (2014). AN EVALUATION OF THE PURPOSES OF RESEARCH IN SOCIAL WORK. Social Work/Maatskaplike Werk, 49(2). https://doi.org/10.15270/49-2-58
Yeni, F., Mulyani, S. R., & Susriyanti, S. (2023). Islamic financial literacy, spiritual intelligence, public perception and behaviour on public interest in Islamic banking services. Cogent Economics & Finance, 11(1). https://doi.org/10.1080/23322039.2023.2175470
Zahrudin, M., Ismail, S., Ruswandi, U., & Arifin, B. S. (2021). Implementasi Budaya Religius dalam Upaya Meningkatkan Spiritual Intelligence Peserta Didik. Asatiza: Jurnal Pendidikan, 2(2), 98–109. https://doi.org/10.46963/asatiza.v2i2.293
Al Tarawneh, M. A., Nguyen, T. P. L., Yong, D. G. F., & Dorasamy, M. A. (2023). Determinant of M-Banking Usage and Adoption among Millennials. Sustainability, 15(10), 8216. https://doi.org/10.3390/su15108216
Al-Awlaqi, M. A., & Aamer, A. M. (2023). Islamic financial literacy and Islamic banks selection: an exploratory study using multiple correspondence analysis on banks’ small business customers. International Journal of Emerging Markets, 18(12), 6285–6299. https://doi.org/10.1108/IJOEM-09-2021-1354
Allah Pitchay, A. Bin, Mohd Thas Thaker, M. A. Bin, Azhar, Z., Mydin, A. A., & Mohd Thas Thaker, H. Bin. (2019a). Factors persuade individuals’ behavioral intention to opt for Islamic bank services. Journal of Islamic Marketing, 11(1), 234–250. https://doi.org/10.1108/JIMA-02-2018-0029
Allah Pitchay, A. Bin, Mohd Thas Thaker, M. A. Bin, Azhar, Z., Mydin, A. A., & Mohd Thas Thaker, H. Bin. (2019b). Factors persuade individuals’ behavioral intention to opt for Islamic bank services. Journal of Islamic Marketing, 11(1), 234–250. https://doi.org/10.1108/JIMA-02-2018-0029
Alsmadi, A. A. (2024). Exploring the moderating role of religious orientation on Islamic Fintech adoption. International Journal of Islamic and Middle Eastern Finance and Management, 17(2), 310–327. https://doi.org/10.1108/IMEFM-09-2023-0315
Antara, P. M., Musa, R., & Hassan, F. (2016). Bridging Islamic Financial Literacy and Halal Literacy: The Way Forward in Halal Ecosystem. Procedia Economics and Finance, 37, 196–202. https://doi.org/10.1016/S2212-5671(16)30113-7
Anwar, Md. A., Gani, Aa. M. O., & Rahman, M. S. (2020). Effects of spiritual intelligence from Islamic perspective on emotional intelligence. Journal of Islamic Accounting and Business Research, 11(1), 216–232. https://doi.org/10.1108/JIABR-10-2016-0123
Aviatri, P., & Nilasari, A. P. (2021). Analisis Penerapan Business Ethics terhadap Kelangsungan Usaha Perusahaan Dagang. Accounthink : Journal of Accounting and Finance, 6(02). https://doi.org/10.35706/acc.v6i02.5621
Ayyub, S., Xuhui, W., Asif, M., & Ayyub, R. M. (2019). Determinants of intention to use Islamic banking. International Journal of Islamic and Middle Eastern Finance and Management, 13(1), 147–163. https://doi.org/10.1108/IMEFM-05-2017-0135
Bell, E., Winchester, N., & Wray-Bliss, E. (2021). Enchantment in Business Ethics Research. Journal of Business Ethics, 174(2), 251–262. https://doi.org/10.1007/s10551-020-04592-4
Dhiman, S. (2019). Doing the Right Thing: Leaders’ Moral and Spiritual Anchorage. In Bhagavad Gītā and Leadership (pp. 207–232). Springer International Publishing. https://doi.org/10.1007/978-3-319-67573-2_9
Dinc, Y., Çetin, M., Bulut, M., & Jahangir, R. (2021). Islamic financial literacy scale: an amendment in the sphere of contemporary financial literacy. ISRA International Journal of Islamic Finance, 13(2), 251–263. https://doi.org/10.1108/IJIF-07-2020-0156
Djazuli, A., & Yanuari, Y. (2022). Lembaga-lembaga Perekonomian Umat (Sebuah. Pengenalan). Raja Grafindo Persada.
Emekci, S. (2019). Green consumption behaviours of consumers within the scope of TPB. Journal of Consumer Marketing, 36(3), 410–417. https://doi.org/10.1108/JCM-05-2018-2694
Ganesan, Y., Allah Pitchay, A. Bin, & Mohd Nasser, M. A. (2020). Does intention influence the financial literacy of depositors of Islamic banking? A case of Malaysia. International Journal of Social Economics, 47(5), 675–690. https://doi.org/10.1108/IJSE-01-2019-0011
Hassan, M. K., İslam, M. T., Ahmed, Z., & Sarker, J. I. (2023). Islamic banking in Bangladesh: a literature review and future research agenda. International Journal of Islamic and Middle Eastern Finance and Management, 16(5), 1030–1054. https://doi.org/10.1108/IMEFM-05-2022-0185
Helmi, A., Sarasi, V., Kaltum, U., & Suherman, Y. (2021). Discovering the values of generation X and millennial consumers in Indonesia. Innovative Marketing, 17(2), 1–8. https://doi.org/10.21511/im.17(2).2021.01
Hilali, A. (2021). The Qur’ān before the book - History and concepts of Qur’ānic variants (qirā’āt). مجلة كلية الشريعة و الدراسات الإسلامية, 38(2), 233–245. https://doi.org/10.29117/jcsis.2021.0275
Hoque, M. N., Rahman, M. K., Said, J., Begum, F., & Hossain, M. M. (2022a). What Factors Influence Customer Attitudes and Mindsets towards the Use of Services and Products of Islamic Banks in Bangladesh? Sustainability, 14(8), 4703. https://doi.org/10.3390/su14084703
Hoque, M. N., Rahman, M. K., Said, J., Begum, F., & Hossain, M. M. (2022b). What Factors Influence Customer Attitudes and Mindsets towards the Use of Services and Products of Islamic Banks in Bangladesh? Sustainability, 14(8), 4703. https://doi.org/10.3390/su14084703
Ilyana, S., Purna, F. P., & Friantoro, D. (2022). Islamic Financial Literacy and Its Effects on Intention to Use Islamic Bank. Ihtifaz: Journal of Islamic Economics, Finance, and Banking, 4(2), 97–110. https://doi.org/10.12928/ijiefb.v4i2.2622
Khan, M. Y., Ud Din, S., Khan, M. J., & Javeed, A. (2021). Dynamics of selecting Islamic home financing. International Journal of Finance & Economics, 26(4), 5005–5016. https://doi.org/10.1002/ijfe.2051
M. Kethan, & Mahabub Basha S. (2022). Relationship of Ethical Sales Behaviour with Customer Loyalty, Trust and Commitment: A Study with Special Reference to Retail Store in Mysore City. East Asian Journal of Multidisciplinary Research, 1(7), 1365–1376. https://doi.org/10.55927/eajmr.v1i7.874
Mulyanti, K., & Husaen, M. (2024). PENGARUH TOTAL ASET TERHADAP LABA BERSIH PADA BANK UMUM SYARIAH YANG TERDAFTAR DI OTORITAS JASA KEUANGAN. LAND JOURNAL, 5(1), 84–92. https://doi.org/10.47491/landjournal.v5i1.3371
Musa, M. A., Sukor, M. E. A., Ismail, M. N., & Elias, M. R. F. (2020). Islamic business ethics and practices of Islamic banks. Journal of Islamic Accounting and Business Research, 11(5), 1009–1031. https://doi.org/10.1108/JIABR-07-2016-0080
Okello Candiya Bongomin, G., Mpeera Ntayi, J., & Akol Malinga, C. (2020). Analyzing the relationship between financial literacy and financial inclusion by microfinance banks in developing countries: social network theoretical approach. International Journal of Sociology and Social Policy, 40(11/12), 1257–1277. https://doi.org/10.1108/IJSSP-12-2019-0262
Puspita, A. T. (2024). Halal Food Shopping Behavior of Millennials: Evidence in Indonesia. Islamic Marketing Review, 2(2). https://doi.org/10.58968/imr.v2i2.347
Rahman, Z. A., & Shah, I. M. (2015). Measuring Islamic Spiritual Intelligence. Procedia Economics and Finance, 31, 134–139. https://doi.org/10.1016/S2212-5671(15)01140-5
Setiawan, D., Darwanto, D., & Gunanto, E. Y. A. (2021). Determinants of Behavioral Intentions to Use Sharia Financial Technology (Fintech). Signifikan: Jurnal Ilmu Ekonomi, 10(2), 325–342. https://doi.org/10.15408/sjie.v10i2.21451
Shandy Utama, A. (2020). PERKEMBANGAN PERBANKAN SYARIAH DI INDONESIA. UNES Law Review, 2(3), 290–298. https://doi.org/10.31933/unesrev.v2i3.121
Strydom, H. (2014). AN EVALUATION OF THE PURPOSES OF RESEARCH IN SOCIAL WORK. Social Work/Maatskaplike Werk, 49(2). https://doi.org/10.15270/49-2-58
Yeni, F., Mulyani, S. R., & Susriyanti, S. (2023). Islamic financial literacy, spiritual intelligence, public perception and behaviour on public interest in Islamic banking services. Cogent Economics & Finance, 11(1). https://doi.org/10.1080/23322039.2023.2175470
Zahrudin, M., Ismail, S., Ruswandi, U., & Arifin, B. S. (2021). Implementasi Budaya Religius dalam Upaya Meningkatkan Spiritual Intelligence Peserta Didik. Asatiza: Jurnal Pendidikan, 2(2), 98–109. https://doi.org/10.46963/asatiza.v2i2.293
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2024-12-30
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