The Determinants of Muslim Millennials' Intention Towards Savings Sukuk

Abstract

Savings Sukuk is one of the sharia investment products issued by the Indonesian Government. Investors from the millennials generation always dominate Savings Sukuk sales, although it is a new investment instrument in Indonesia. Therefore, we interest in examining the intention towards Savings Sukuk more deeply. In particular, this study analyzes the effect of religiosity, product knowledge, and pricing on Muslim millennials' intention toward Savings Sukuk in Indonesia. This study used a quantitative approach, and the data collected was analyzed by Partial Least Square – Structural Equation Modeling (PLS-SEM). Purposive sampling was used to get the required sample. Respondents in this study were Muslim millennials in Indonesia and were not limited by region. There are at least 138 respondents who participated in the survey. The results showed that product knowledge and pricing influenced Muslim millennials' intention toward Savings Sukuk. In contrast, religiosity does not affect Muslim millennials' intention toward Savings Sukuk in Indonesia.

Impact of attitude, subjective norms, and perceived behavioural control on intention to invest in retail green sukuk among Muslim millennials in Jabodetabek

“…(2019) used the Theory Planned of Behavior (TPB) to measure the decision of Malaysian society to invest in Green Sukuk instruments. Prasetya et al (2022) also used the TPB to measure millennial investor attitudes toward investing in regular sukuk instruments. Meanwhile, other studies found that investing in companies implementing environmentally friendly initiatives is crucial for ensuring sustainable economic growth (Khan et al, 2022;Nagaty, 2022;Waris et al, 2024;Zahan & Chuanmin, 2021).…”