Situs slot slot88 SLOT JP slot slot akun jp slot slot gacor slot gacor emon77 slot88 slot gacor akuntoto slot juaraslot88 emon77 slot88resmi emon77 slot TOTOSLOTJP slot slot slot gacor slot slot gacor data macau slot88 slot88 Situs toto data macau hari ini TOTO sakti123 toto slot situs toto toto slot Slot pontoto tarungtoto mahjong situs slot gacor situs toto situs toto KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO KIENTOTO LICIN4D PUCUK4D PASCOL4D PASCOL4D PASCOL4D PASCOL4D PASCOL4D kari4d kari4d PASCOL4D kari4d PASCOL4D PASCOL4D kari4d kari4d

Vol. 1 No. 1 (2023)
Articles

The Determinants Factors of Islamic Financial Inclusion in West Java: A Comparison Between Generation Z and Millennials

PDF
  • Amarila Indi Haryadi
Amarila Indi Haryadi
Sekolah Bisnis dan Manajemen, Institut Teknologi Bandung
DOI: https://doi.org/10.58229/jcsam.v1i1.75

Published 2023-07-15

Keywords

  • Islamic Financial Inclusion,
  • Islamic Financial Literacy,
  • Generation Z,
  • Millennials

How to Cite

Haryadi, A. I. (2023). The Determinants Factors of Islamic Financial Inclusion in West Java: A Comparison Between Generation Z and Millennials. Journal of Consumer Studies and Applied Marketing, 1(1), 67–73. https://doi.org/10.58229/jcsam.v1i1.75

Abstract

Islamic finance is one of the fastest-expanding global financial systems, and it predicted that Islamic finance has promising future asset growth. As a country with the largest Muslim population, Indonesia has great potential in the Islamic economy and finance sector. The rise of Islamic finance in the world's financial system and Indonesia's huge potential have attracted the attention of the Indonesian government, which wants to make Indonesia a leader in the world's Islamic economy. West Java was chosen as a pilot province for other regions in developing Islamic finance. More than half of West Java's population comprises Generation Z and Millennials. These two generations will play important roles in financial institutions in the next decade and will dominate Indonesia in 2045. The main purpose of this study is to explore the determinants of Islamic financial inclusion of Generation Z and Millennials in West Java and compare them. The data from 616 respondents was collected and analyzed using PLS-SEM. It found that Generation Z and Millennials have differences in how much each factor affects them. The difference between them is that religiosity has a stronger influence on Millennials than on Generation Z, and social influence has a stronger influence on Generation Z than on Millennials. Overall, this study concludes that, consecutively, Islamic financial literacy, social influence, and religiosity influence Islamic financial inclusion among Generation Z and Millennials in West Java.

PDF

References

  1. Journal Article
  2. Ali, M. M., Devi, A. & Bustomi, H., 2020. Determinants of Islamic Financial Exclusion in Indonesia. Journal of Islamic Monetary Economics and Finance, 6(2), pp. 373-402. http://dx.doi.org/10.5267/j.ac.2020.11.001
  3. Ali, M. M. et al., 2021. Factors Influencing Islamic Financial Inclusion in Indonesia: A Structural Equation Modeling Approach. Islamic and Civilizational Renewal, 12(2), pp. 249-274. http://dx.doi.org/10.52282/icr.v12i2.866
  4. Ali, M. M., Devi, A., Furqani, H. & Hamzah, H., 2020. Islamic Financial Inclusion Determinants in Indonesia: an ANP Approach. International Journal of Islamic and Middle Eastern Finance and Management, 13(4), pp. 727-747. https://doi.org/10.1108/IMEFM-01-2019-0007
  5. Attokkaran, D. S. V., 2021. Socio-economic Determinants of Financial Inclusion: A Study Among Scheduled Caste Women in Kerala. Anvesak, 51(1), pp. 93-96. ISSN: 0378 – 4568
  6. Dinc, Y., Cetin, 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), pp. 251-263. ISSN: 2289-4365.
  7. Grass, R. H., 2015. Sociology of Social Influence. International Encyclopedia of the Social & Behavioral Sciences (Second Edition), 22(2), pp. 348-354. http://dx.doi.org/10.1016/B978-0-08-097086-8.32074-8
  8. Hair, J. F., Risher, J. J., Sarstedt, M. & Ringle, C. M., 2019. When to Use and How to Report The Result of PLS-SEM. European Business Review, 31(1), pp. 2-24. ISSN: 0955-534X.
  9. Ilyana, S., Purna, F. P. & Friantoro, D., 2021. Islamic Financial Literacy and Its Effect on Intention to Use Islamic Banking. Ihtifaz: Journal of Islamic Economics, Finance, and Banking, 4(2), pp. 97-110. https://doi.org/10.12928/ijiefb.v4i2.2622
  10. Jöreskog & Wold, 1982. The ML and PLS Techniques for Modeling with Latent Variables: Historical and Comparative Aspects. Systems under Indirect Observation: Causality, Structure, Prediction, Volume 1, pp. 263-270.
  11. Khan, N., Iqbal, N. & Asfandyar, 2020. Analyzing the Demand for Islamic Financial Products: The Role of Religiosity and Financial Literacy. Review of Economics and Development Studies, 6(4), pp. 893-904. https://doi.org/10.47067/reads.v6i4.288
  12. Prastiwi, 2018. Pengaruh Persepsi Anggota Pada Sharia Compliance, Komitmen, Agama, dan Atribut Produk Islam Terhadap Customer Trust Yang Berdampak Pada Keputusan Menggunakan Jasa Lembaga Keuangan Syariah. Jurnal Ilmiah Ekonomi Islam, 4(1), pp. 28-40. http://dx.doi.org/10.29040/jiei.v4i1.162
  13. Rahim, S. H. A., Rashid, R. A. & Hamed, A. B., 2016. Islamic Financial Literacy and its Determinants among University Students: An Exploratory Factor Analysis. International Journal of Economics and Financial Issues, 6(7S), p. 32–35. ISSN: 2146-4138
  14. Rosdiana, R., 2020. Analysis of Investment in Interest, Motivation, Social Environment, Financial Literacy (Comparative of Generation Z and Millennial Generation). International Journal of Business, Economics, and Law, 22(1), pp. 111-121. ISSN: 2289-1552
  15. Sayg?l?, M., Durmu?kaya, S., Sütütemiz, N. & Ersoy, A. Y., 2022. Determining intention to choose Islamic financial products using the attitude–social influence–self-efficacy (ASE) model: the case of Turkey. International Journal of Islamic and Middle Eastern Finance and Management; Bingley, 15(6), pp. 1109-1126. http://dx.doi.org/10.1108/IMEFM-11-2020-0569
  16. Senyo, P. & Osabutey, E. L., 2020. Unearthing antecedents to financial inclusion through FinTech innovations. Technovation, Volume 98. https://doi.org/10.1016/j.technovation.2020.102155
  17. Shinkafi, A. A., Yahaya, S. & Sani, T. A., 2020. Realizing Financial Inclusion in Islamic Finance. Journal of Islamic Marketing, 11(1), pp. 143-160. http://dx.doi.org/10.1108/JIMA-02-2017-0020
  18. Siddiqui, T. A., Naushad, M. & Farooque, M. K. U., 2021. A Study on Islamic Finance as an Approach for Financial Inclusion in India. Accounting, 7(2), pp. 487-496. http://dx.doi.org/10.5267/j.ac.2020.11.001
  19. Takidah, E. & Kassim, S., 2021. Determinants of Islamic Financial Inclusion in Indonesia: A Demand-Side Analysis. Journal of Islamic Finance, 10(2), pp. 2289-2109. ISSN: 2289-2117
  20. Zaman, Z., Mehmood, B., Aftab, R. & Shahid, M., 2017. Role of Islamic Financial Literacy in the Adoption of Islamic Banking. Journal of Islamic Business and Management, 7(2), pp. 230-247. https://doi.org/10.26501/jibm/2017.0702-006
  21. Book
  22. Badan Pusat Statistik, 2020. Hasil Sensus Penduduk 2020, Jakarta: Badan Pusat Statistik.
  23. Creswell, J. W. & Creswell, J. D., 2018. Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. 4th ed. Washington DC: Sage Publication, Inc.
  24. Jamaldeen, F., 2012. Islamic Finance for Dummies. 1 ed. New Jersey: John Wilson & Sons, Inc.
  25. Internet Source
  26. Asian Development Bank, 2023. Islamic Finance. Retrieved from https://www.adb.org/what-we-do/sectors/finance/islamic-finance
  27. Dinar Standards, 2022. State of the Global Islamic Economy Report 2022. Retrieved from https://www.dinarstandard.com/post/state-of-the-global-islamic-economy-report-2022
  28. KNEKS, 2019. Masterplan Ekonomi Syariah Indonesia 2019-2024. Retrieved from https://kneks.go.id/storage/upload/1573459280-Masterplan%20Eksyar_Preview.pdf
  29. Otoritas Jasa Keuangan, 2019. Buku Statistik SNLIK 2019. Retrieved from https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/DetailMateri/517
  30. Putra, D. A., 2021. Pentingnya Generasi Milenial Terlibat dalam Pasar Perbankan Syariah. Retrieved from https://www.merdeka.com/perbankan/pentingnya-generasi-milenial-terlibat-dalam-pasar-perbankan-syariah.html
  31. Refinitv, 2022. Islamic Finance Development Report 2022: Embracing Change. Retrieved from https://www.refinitiv.com/en/resources/special-report/islamic-finance-development-report-2022