Exploring Stakeholder Perceptions and Motivations towards Adopting Waqf Blockchain: Waqif's perceived intentions

Authors

  • Mohammad Zulfakhairi Mokthar Faculty of Business and Management, Universiti Teknologi MARA, Selangor, Malaysia
  • Noraina Mazuin Sapuan Faculty of Industrial Management, Universiti Malaysia Pahang, Pahang, Malaysia

DOI:

https://doi.org/10.21834/e-bpj.v8iSI14.5060

Keywords:

Perceived Intention, Blockchain, Cash Waqf

Abstract

The study aims to gain insight into the adoption of waqf blockchain in Malaysia. In order to achieve this purpose, this study is conducted to examine factors influencing endowers perceived intention to adopt waqf blockchain in Malaysia. This study adopts UTAUT as the research framework and uses a survey research design. The sample for this study was collected using non-probability sampling as the sample frame is unknown, and data was collected through questionnaires distributed throughout Malaysia. The collected data were then analyzed using SmartPLS software. The main findings suggest that performance expectancy, social influence, and facilitating conditions play a positive role in explaining the perceived intention to adopt waqf blockchains among endowers in Malaysia.

References

Anam, B. H. C. (2015). Penentu wakaf tunai di Malaysia. In S. Alma’amun, M. A. Ismail, M. A. Mohd Noor, M. R. Moi, A. R. Mohd Shaary, & M. H. Mohd Shafiai (Eds.), Prosiding persidangan kebangsaan ekonomi dan kewangan Islam 2015 (CMIEF2015) Ekonomi Halal (pp. 230–235).

Azizi, N. D., Shukor, S. A., & Sabri, H. (2019). Determinants of repeated endowers’ donation intention in cash waqf: A case study in Majlis Agama Islam dan Adat Melayu Perak (MAIPk). Jurnal Manajemen Bisnis, 10(2). https://doi.org/10.18196/mb.10175 DOI: https://doi.org/10.18196/mb.10175

Baber, H. (2021). Examining the intentions to use crowdfunding platform – an extended technology acceptance model. International Journal of Services, Economics and Management. DOI: https://doi.org/10.1504/IJSEM.2021.10040566

Basary, N. F. (2014). The acceptenace of waqf institution establishment in UUM. Universiti Utara Malaysia.

Bodó, B. (2021). Mediated trust: A theoretical framework to address the trustworthiness of technological trust mediators. New Media and Society, 23(9), 2668–2690. https://doi.org/10.1177/1461444820939922 DOI: https://doi.org/10.1177/1461444820939922

Chaerunnisa, S. R., & Kasri, R. A. (2019). Indonesian muslim millennials’ intention to donate via online waqf: Theory of planned behavior approach. In Challenges of the Global Economy: Some Indonesian Issues.

Choi, S., Kim, H., Chung, M., & Lee, S. Y. (2019). Online Donation Experiences, Donation Awareness, and Intention of Future Donation Among Teenagers in South Korea. Journal of Social Service Research, 45(5). https://doi.org/10.1080/01488376.2018.1487363 DOI: https://doi.org/10.1080/01488376.2018.1487363

Du, L., Li, X., Chen, F., & Feng, Y. (2020). Evaluating participants’ customer citizenship behaviors using an Internet charity platform. Social Behavior and Personality,

(6). https://doi.org/10.2224/sbp.9098 DOI: https://doi.org/10.2224/sbp.9098

Faturohman, T., Hassandi, I., & Yulianti, Y. (2020). User Acceptance of Online Waqf Application: Evidence from Indonesia. Journal of Islamic Monetary Economics and Finance, 6(3), 503–530. https://doi.org/10.21098/jimf.v6i3.1117 DOI: https://doi.org/10.21098/jimf.v6i3.1117

Fauzi, M. H., Yahya, S., Haron, M. S., & Abu Zahrin, S. N. (2019). The Role of Online Facility in Cash Waqf Contribution: Experience of Bank Muamalat Malaysia Berhad (BMMB). Southeast Asia Journal of Contemporary Business, Economics and Law, 19(2), 46–55.

Finterra. (2019). Waqf Chain. https://finterra.org/waqfchain/

Fornell, C., & Larcker, D. F. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18(1). https://doi.org/10.2307/3151312 DOI: https://doi.org/10.2307/3151312

Habib, F., & Ahmad, A. U. F. (2019). Using Blockchain and Smart Contracts for Waqf Institutions. https://doi.org/10.4018/978-1-5225-9183-2.ch013 DOI: https://doi.org/10.4018/978-1-5225-9183-2.ch013

Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2017). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). Second Edition. In California: Sage.

Hansen, J. M., Saridakis, G., & Benson, V. (2018). Risk, trust, and the interaction of perceived ease of use and behavioral control in predicting consumers’ use of social

media for transactions. Computers in Human Behavior, 80. https://doi.org/10.1016/j.chb.2017.11.010 DOI: https://doi.org/10.1016/j.chb.2017.11.010

Heidari, H., Mousakhani, M., Alborzi, M., Divandari, A., & Radfar, R. (2017). Evaluating the Factors Affecting Behavioral Intention in Using Blockchain Technology Capabilities as a Financial Instrument. In Journal of Money and Economy (Vol. 13, Issue 2).

Isfandayani, P. P. (2020). Planned behavior theory in paying cash waqf. Journal of Humanities and Social Studies, 4(1). https://doi.org/10.33751/jhss.v4i1.1901 DOI: https://doi.org/10.33751/jhss.v4i1.1901

Johari, F., Alias, M. H., Shukor, S. A., Wahab, K. A., Aziz, M. R. A., Ahmad, N., Zulkefli, Z. K., Hussin, F. A., & Ibrahim, P. (2015). Factors that influence repeat contribution of cash waqf in Islamic philanthropy. Malaysian Accounting Review, 14(2).

Kasri, R. A., & Chaerunnisa, S. R. (2021). The role of knowledge, trust, and religiosity in explaining the online cash waqf amongst Muslim millennials. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-04-2020-0101 DOI: https://doi.org/10.1108/JIMA-04-2020-0101

Kasri, R. A., & Yuniar, A. M. (2021). Determinants of digital zakat payments: lessons from Indonesian experience. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-08-2020-0258 DOI: https://doi.org/10.1108/JIABR-08-2020-0258

Latifa, M. I., & Zakaria, Z. (2020). Factors Determine the Behavioural Intention in Adopting the Blockchain Technology by Malaysian Public Sector Officers. Journal of Advanced Research in Business and Management Studies, 20(1), 34–43. https://doi.org/10.37934/arbms.20.1.3443 DOI: https://doi.org/10.37934/arbms.20.1.3443

Li, Y. Z., He, T. L., Song, Y. R., Yang, Z., & Zhou, R. T. (2018). Factors impacting donors’ intention to donate to charitable crowd-funding projects in China: a UTAUT- based model. Information Communication and Society, 21(3), 404–415. https://doi.org/10.1080/1369118X.2017.1282530 DOI: https://doi.org/10.1080/1369118X.2017.1282530

Mas’ud, A., & Umar, M. A. (2019). Structural effects of trust in e-filing software on e-filing acceptance in the services sector. International Journal of Enterprise Information Systems, 15(2), 76–94. https://doi.org/10.4018/IJEIS.2019040105 DOI: https://doi.org/10.4018/IJEIS.2019040105

Mohammed, S. (2020). Can Smart Contracts Redefine ‘Trust’? Finterra.Org. https://finterra.org/can-smart-contracts-redefine-trust/

Niswah, F., Mutmainah, L., Hadyantari, F., Nurwahidin, N., & Huda, N. (2020). Do Indonesian Muslims Have Intention to Participate on Cash Waqf Through Fintech? https://doi.org/10.4108/eai.6-11-2019.2297262 DOI: https://doi.org/10.4108/eai.6-11-2019.2297262

Osman, A. F. (2014). an Analysis of Cash Waqf Participation Among Young. 9th International Academic Conference, April, 572–584.

Osman, A. F., Mohammed, M. O., & Amin, H. (2013). An Analysis of Cash Waqf Participation Among Young Intellectuals. Proceedings of World Universities’ Islamic

Philanthropy 2013, 7–20.

Osman, A. F., Mohammed, M. O., & Fadzil, A. (2016). Factor Influencing Cash Waqf Giving Behavior: A Revised Theory of Planned Behavior. Journal of Global Business and Social Entrepreneurship (GBSE), 1(2).

Pitchay, A. A. (2015). The role of cash waqf in rejuvenation of Malaysia waqf assets. Universiti Islam Antarabangsa Malaysia.

Pitchay, A. A., Meera, A. K. M., & Saleem, M. Y. (2015). Factors influencing the behavioral intentions of muslim employees to contribute to cash-waqf through salary deductions. Journal of King Abdulaziz University, Islamic Economics, 28(1). https://doi.org/10.4197/Islec.28-1.3 DOI: https://doi.org/10.4197/Islec.28-1.3

Ratnasari, R. T., & Arifin, M. H. (2018). Theory of Planned Behavior in Intention to Pay Cash Waqf. https://doi.org/10.5220/0007087206410644 DOI: https://doi.org/10.5220/0007087206410644

Saberee, A. (2019). WAQF Chain — A Blockchain Solution for Organizations to Help Customers Give Traceable Charity.pdf. Finterra.Org. https://finterra.org/waqf-chain- a-blockchain-solution-for-organizations-to-help-customers-give-traceable-charity/

Sakti, M. R. P., Hassanuddin, M. T. T., Qoyum, A., & Qizam, I. (2016). Determinants of cash waqf contribution in Klang valley and Selangor: A SEM approach. Journal of Islamic Monetary Economics and Finance, 2(1). https://doi.org/10.21098/jimf.v2i1.593 DOI: https://doi.org/10.21098/jimf.v2i1.593

Sanmukhiya, C. (2020). A PLS –SEM Approach to the UTAUT Model: The Case of Mauritius. Annals of Social Sciences & Management Studies, 6(1). https://doi.org/10.19080/asm.2020.06.555677 DOI: https://doi.org/10.19080/ASM.2020.06.555677

Shafawati, N. B. B. (2017). Using an Extended Theory of Planned Behaviour to Measure Intention to Contribute to Cash Waqf. A Dissertation Submitted in Fulfillment of the Requirement for the Degree of Master of Science in Marketing Kulliyyah of Economics, June.

Shanmugam, M., Sun, S., Amidi, A., Khani, F., & Khani, F. (2016). The applications of social commerce constructs. International Journal of Information Management,

(3). https://doi.org/10.1016/j.ijinfomgt.2016.01.007 DOI: https://doi.org/10.1016/j.ijinfomgt.2016.01.007

Sulaeman, S. Y. N. (2020). Analyzing the Behavioral Intention Factors in Using Zakat-Based Crowdfunding Platform in Indonesia. International Journal of Zakat, 5(3), 1–

https://doi.org/10.37706/ijaz.v5i3.267 DOI: https://doi.org/10.37706/ijaz.v5i3.267

Sulaiman, M., & Zakari, M. A. (2015). Efficiency and effectiveness of waqf institutions in Malaysia: Toward financial sustainability. Access to Finance and Human Development. In Access to Finance and Human Development — Essays on Zakah, Awqaf and microfinance (Vol. 1). https://doi.org/10.1007/s13398-014-0173-7.2

Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly: Management Information Systems, 27(3). https://doi.org/10.2307/30036540 DOI: https://doi.org/10.2307/30036540

Wadi, D. A., & Nurzaman, M. S. (2020). Millennials Behaviour towards Digital Waqf Innovation. International Journal of Islamic Economics and Finance (IJIEF), 3(3). https://doi.org/10.18196/ijief.3232 DOI: https://doi.org/10.18196/ijief.3232

Yin, R. K. (2018). Case study approach and applications design and methods (6th ed.). SAGE Publications, Inc.

Yusof, M. A., Ab. Aziz, R., & Johari, F. (2013). The relationship between level of income and willingness of Muslim community to contribute for Islamic Waqf Bank. The 5th Islamic Economic Sytem Conference (Iecons 2013), 36–89.

Yusoff, R., Abd Rahman, S. A., Wan Mohamed, W. N., Benrit, P., & Darus, F. (2017). Predicting the Behavioural Intention for Cash Waqf: Evidence from Malaysia and Thailand. Conference on

Downloads

Published

2023-09-18

How to Cite

Mokthar, M. Z., & Sapuan, N. M. (2023). Exploring Stakeholder Perceptions and Motivations towards Adopting Waqf Blockchain: Waqif’s perceived intentions. Environment-Behaviour Proceedings Journal, 8(SI14), 89–96. https://doi.org/10.21834/e-bpj.v8iSI14.5060

Most read articles by the same author(s)