The determinants of using Islamic financial products by residents in Melaka Tengah

Abu Bakar, Muhammad Aliff (2024) The determinants of using Islamic financial products by residents in Melaka Tengah. Project Report. Universiti Teknikal Malaysia Melaka, Melaka, Malaysia. (Submitted)

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Abstract

This final-year project's goal is to look at what influences Melaka Tengah inhabitants' adoption of Islamic financial products. This study looks at how well Islamic financial goods predict individual behaviour toward the intention to utilize Islamic financial products using a modified Theory of Planned Behaviour. A total of 388 questionnaires were given; however, 384 were required to gather data. TPB theory was applied to the data analysis. The results demonstrated the explanatory and predictive value of attitude, social norms, perceived behavioural control, and the usage of Islamic financial goods in predicting an individual's propensity to use Islamic financial products. By offering insights into the topic matter in emerging economies, where financial services are being localized and humanized to better serve clients, this study adds to the body of literature already in existence. This study looks at how the Theory of Planned Behaviour (TPB) affects Melaka Tengah, Melaka residents' adoption of Islamic financial products. The study focuses on the variables that influence the adoption of Islamic financial products and how these variables relate to one another. Financial institutions in Malaysia employ Islamic products such as Islamic banking, Islamic finance, Islamic capital products, and Takaful. Strategic innovation offers Islamic financial institutions a large potential for revenue development and a competitive advantage through, among other things, the production of at least some new knowledge and skills (Katila and Ahuja, 2002). To create economic value, new ideas must be implemented and communicated to clients (Lyonsetal, 2007).

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