FACTORS DETERMINING THE DECISION TO USE SHARIA FINANCIAL PRODUCTS IN THE DIGITAL ERA
DOI:
https://doi.org/10.22437/jiituj.v10i3.54795Keywords:
Digitalization, Financial Product Adoption, Islamic Financial Literacy, Religiosity, Risk ProfileAbstract
This study examines the impact of Islamic financial literacy, sharia compliance, returns, customer risk profiles, digitalization and social factors, and religiosity on the decision to use Islamic financial products in Islamic banking. This study employed a quantitative methodology, including a sample of 302 productive-age respondents with bank accounts in DKI Jakarta. Data analysis was conducted using multiple regression with SmartPLS. The results show that Islamic financial literacy, customer risk profiles, digitalization and social factors, and religiosity have a positive influence on the decision to use Islamic financial products. Conversely, sharia compliance and returns do not have a significant effect. These findings theoretically enhance the literature on consumer behavior and Islamic finance by illustrating that value-based elements, especially religiosity, exert a more significant influence than economic concerns in the decision to utilize Islamic financial products. The research findings suggest that Islamic banking, regulators, educational institutions, and religious organizations should collaborate to enhance Islamic financial literacy programs, expedite the transition to digital services, and formulate marketing strategies that highlight Islamic values and religiosity to promote the adoption of Islamic financial products. This study develops a model that includes financial, behavioral, technological, and religiosity characteristics to elucidate the decision to utilize Islamic financial products, contrasting with previous research that predominantly emphasized economic considerations. This study illustrates that religiosity exerts a more significant impact than financial returns and views of Islamic compliance, offering a novel viewpoint on value-driven decision-making within the Islamic banking sector.
References
Abu Karsh, S. M., & Badarin, L. (2024). Digital transformation in islamic banking. Studies in Systems, Decision and Control, 528(April), 781–791. https://doi.org/10.1007/978-3-031-56586-1_57.
Ahmed, S., Mohiuddin, M., Rahman, M., Tarique, K. M., & Azim, M. (2022). The impact of Islamic Shariah compliance on customer satisfaction in Islamic banking services: mediating role of service quality. Journal of Islamic Marketing, 13(9), 1829–1842. https://doi.org/10.1108/JIMA-11-2020-0346.
Azra Rosadi, A., Alexakis, C., & Pratiwi Putri, A. (2024). Enhancing islamic financial literacy in indonesian youth generates broader societal benefits. PEOPLE: International Journal of Social Sciences, 10(1), 13–26. https://doi.org/10.20319/pijss.2024.101.1326.
Bashir, M. S. (2024). Globalization, digitalization, and financial inclusion in islamic banking. In Developing Digital Inclusion Through Globalization and Digitalization (pp. 257-294). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-4111-7.ch012.
St Kamriana Dian Ramadani, A., Novianty, R., & Arafah, M. (2026). Analisis pelayanan dalam meningkatkan penggunaan mobile banking pada bsi (studi kasus pada BSI KCP Bone) [Service analysis in increasing the use of mobile banking at BSI (case study at BSI KCP Bone)]. Journal Social Society, 6(1), 48-59. https://doi.org/10.54065/jss.6.1.2026.923.
Cipta, H. (2020). Rate of return risk pada perbankan syariah di Indonesia [Rate of return risk in Islamic banking in Indonesia]. Edugama: Jurnal Kependidikan Dan Sosial Keagamaan, 6(2), 91–109. https://doi.org/10.32923/edugama.v6i2.1601.
Darda, A., Yuli, R., Wati, L. N., & Abdrazakova, A. (2025). Digital and financial literacy driving micro finance access: religiosity as catalyst for SME development. Jurnal Ilmiah Ilmu Terapan Universitas Jambi, 9(4), 1592–1611. https://doi.org/10.22437/jiituj.v9i4.47587.
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.
Fauzi, A., & Rafik, A. (2024). The Impact of Sharia Financial Literacy , Religiosity , and Perceived Quality on Investment Decisions on Sharia-Compliant Products.
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203.
Hair, J. F. ., Hult, G. T. M. ., Ringle, C. M. ., & Sarstedt, Marko. (2022). A primer on partial least squares structural equation modeling (PLS-SEM) (3rd ed.). SAGE Publications, Inc. https://uk.sagepub.com/en-gb/eur/a-primer-on-partial-least-squares-structural-equation-modeling-pls-sem/book270548
Hidajat, T., & Hamdani, M. (2017). Measuring Islamic financial literacy. Advanced Science Letters, 23(8), 7173–7176. https://doi.org/10.1166/asl.2017.9321.
Hidayanti, F., Tubastuvi, N., Wahyuni, S., & Santoso, S. B. (2025). The impact of religiosity, risk tolerance, financial behavior, and locus of control on sharia investment decisions: the moderating role of financial literacy. Jurnal REKSA: Rekayasa Keuangan, Syariah dan Audit, 12(1), 54-79. https://doi.org/10.12928/jreksa.v12i1.11329.
Hidayat, M., & Asky Humeriatunnisa. (2023). Optimalisasi Peran Digital Banking Bank Syariah Indonesia Terhadap Perkembangan Industri Halal. Mabsya: Jurnal Manajemen Bisnis Syariah, 5(2), 243–264. https://doi.org/10.24090/mabsya.v5i2.9984.
Lathifatunnisa, & Nur Wahyuni, A. (2021). Pengaruh faktor demografi, risk tolerance dan overconfidence terhadap pengambilan keputusan investasi mahasiswa di Kota Pekalongan [The influence of demographic factors, risk tolerance and overconfidence on student investment decision making in Pekalongan City]. Jurnal Bisnis Terapan, 5(2), 203–216. https://doi.org/10.24123/jbt.v5i2.4688.
Leite, Â., Nobre, B., & Dias, P. (2023). Religious identity, religious practice, and religious beliefs across countries and world regions. Archive for the Psychology of Religion, 45(2), 107–132. https://doi.org/10.1177/00846724221150024.
Mansori, S., Safari, M., & Mohd Ismail, Z. M. (2020). An analysis of the religious, social factors and income’s influence on the decision making in Islamic microfinance schemes. Journal of Islamic Accounting and Business Research, 11(2), 361–376. https://doi.org/10.1108/JIABR-03-2016-0035.
McDonald, J. F. (2009). Calibration of a monocentric city model with mixed land use and congestion. Regional Science and Urban Economics, 39(1), 90-96. https://doi.org/10.1016/j.regsciurbeco.2008.06.005.
Mochammad, R. F. (2023). Peran literasi syariah dan imbal hasil terhadap minat menabung di bank syariah (Studi kasus mahasiswa fakultas ekonomi dan bisnis Universitas Wijaya Putra Surabaya)[The role of sharia literacy and returns on interest in saving in Islamic banks (Case study of students of the Faculty of Economics and Business, Wijaya Putra University, Surabaya)] (Doctoral dissertation, Universitas Wijaya Putra).
Mukhibad, H., Nurkhin, A., Anisykurlillah, I., Fachrurrozie, F., & Jayanto, P. Y. (2023). Open innovation in shariah compliance in Islamic banks – Does shariah supervisory board attributes matter? Journal of Open Innovation: Technology, Market, and Complexity, 9(1), 100014. https://doi.org/10.1016/j.joitmc.2023.100014.
Muslichah, M., Putra, Y. H. S., Abdullah, R., & Usry, A. K. (2023). Islamic financial literacy and financial inclusion: examining the intervening role of financial self-efficacy. International Journal of Islamic Economics and Finance (IJIEF), 6(2), 181–200. https://doi.org/10.18196/ijief.v6i2.16384.
Muslimin, M., Ballo, F. W., & Kiak, N. T. (2024). Tantangan transformasi produk digital dalam perbankan syariah: studi kasus bank syariah Indonesia Kc Kupang [The challenges of digital product transformation in Islamic banking: a case study of Bank Syariah Indonesia, Kupang Branch]. MENAWAN: Jurnal Riset Dan, 2(3), 69-79. https://doi.org/10.61132/menawan.v2i3.517.
Novita Angraini, Zulfanetti, & Nurida Isnaeni. (2024). The influence of islamic financial literacy, religiosity, and service quality on the decision to save at islamic banks with trust as an intervening variable in jambi province. The Asian Journal of Professional & Business Studies, 5(1), 1–10. https://doi.org/10.61688/ajpbs.v5i1.307.
Nuriatullah, Ahmed, I., & Rusanti, E. (2024). Shariah compliance, customer relationship marketing, and loyalty in islamic banking: the role of customer satisfaction. Jurnal Ilmu Ekonomi Dan Bisnis Islam, 6(1), 54–72. https://doi.org/10.24239/jiebi.v6i1.281.54-72.
Nurrohmah, R. F., & Purbayati, R. (2020). Pengaruh tingkat literasi keuangan syariah dan kepercayaan masyarakat terhadap minat menabung di bank syariah [The influence of the level of Islamic financial literacy and public trust on interest in saving in Islamic banks]. Jurnal Maps (Manajemen Perbankan Syariah), 3(2), 140–153. https://doi.org/10.32627/maps.v3i2.135.
Qulaibah, C., Shafia, T., & Akhtar, A. (2025). Analysis of consumer decisions in using sharia-based digital payment services (Sharia E-Wallet). Seriat Ekonomisi, 2(2), 61-68. https://doi.org/10.35335/p190r625.
Ranti, Rosmini, Irawan, A., & Fakhri, M. (2025). Optimalisasi manajemen risiko dalam investasi dan trading saham syariah pada platform IPOT [Optimizing risk management in sharia stock investment and trading on the IPOT platform]. Ekonomika, 8(1), 349–358.
Rehman, K., & Mia, M. A. (2024). Determinants of financial literacy: a systematic review and future research directions. Future Business Journal, 10(1), 1–25. https://doi.org/10.1186/s43093-024-00365-x
Rifai, A. B. A. (2020). Analisis risiko imbal hasil pada bank syariah [Risk analysis of returns in Islamic banks]. Al-Infaq: Jurnal Ekonomi Islam, 11(2), 226. https://doi.org/10.32507/ajei.v11i2.664.
Rizaldy Insan Baihaqqy, M., Sari, M., & Ikhsan, S. (2020). The effect of financial literacy on the investment decision. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 3(4), 3073–3083. https://doi.org/10.33258/birci.v3i4.1333.
Ryandono, M. N. H., Widiastuti, T., Filianti, D., Robani, A., Al Mustofa, M. U., Susilowati, F. D., Wijayanti, I., Dewi, E. P., & Atiya, N. (2025). Overcoming barriers to optimizing cash waqf linked sukuk: A DEMATEL-ANP approach. Social Sciences and Humanities Open, 11(February). https://doi.org/10.1016/j.ssaho.2025.101588.
Sariah, & Indra. (2024). Pengaruh literasi keuangan syariah, religiusitas, inklusi keuangan syariah, layanan digital m-banking terhadap keputusan menabung gen z. studi kasus nasabah BSI Jabodetabek [The influence of Islamic financial literacy, religiosity, Islamic financial inclusion, and digital m-banking services on Gen Z's savings decisions. A case study of BSI Jabodetabek customers.]. Economic Reviews Journal, 3(3), 158–170. https://doi.org/10.56709/mrj.v3i3.328.
Sasongko, F. N., Mutmainnah, M., & Mohamad, M. (2024). Meningkatkan pemahaman masyarakat tentang keuangan syariah melalui seminar ekonomi syariah di Kecamatan Banyuates Madura [Increasing public understanding of Islamic finance through Islamic economic seminars in Banyuates District, Madura]. Khodimul Ummah: Journal of Community Service, 3(1), 67-78.
Selasi, D., Nurpitasari, S., & Saputri, M. (2024). Pengaruh Literasi Keuangan Syariah terhadap Minat Investasi pada Pasar Modal Syariah Ekonomi Syariah , Fakultas Ekonomi dan Bisnis Islam , Universitas Islam Bunga Bangsa minat investasi di pasar modal syariah . Dengan memahami sejauh mana literasi keuanga. 2.
Shafira, H., & Sisdianto, E. (2024). Analisis pengaruh tingkat inklusi keuangan dan literasi keuangan [Analysis of the influence of the level of financial inclusion and financial literacy]. Jurnal Anggaran, 2(2). https://doi.org/10.61132/anggaran.v2i2.575.
Siregar, M. M., Nasution, M. L. I., & Dharma, B. (2024). Pengaruh financial inclusion dan pemahaman keuangan terhadap keputusan menggunakan bank syariah (studi kasus pt. bank sumut kantor cabang syariah medan ring road) [The influence of financial inclusion and financial understanding on the decision to use Islamic banks (case study of PT. Bank Sumut, Medan Ring Road Islamic Branch Office)]. Jesya, 7(2), 2036–2048. https://doi.org/10.36778/jesya.v7i2.1763.
Usman, A., Patel, C., & Pan, P. (2025). Advances in Accounting Islamic worldview, social consciousness, and socially responsible investment. 68(October 2022).
Wati, L. N. (2021). Metodologi Penelitian Aplikatif dengan Smart PLS [Applied Research Methodology with Smart PLS]. Mujahid Press.
Zuzanti, Z. (2024). Interdisciplinary Drivers of Fiqh Muamalah: Social, Economic, and Technological Perspectives. Sinergi International Journal of Islamic Studies, 2, 123–135. https://doi.org/10.61194/ijis.v2i2.604.
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Hesty Febriyanthi, Lela Nurlaela Wati, Abdul Mukti Soma
This work is licensed under a Creative Commons Attribution 4.0 International License.
