The Influence of Understanding of Islamic Contracts, Social Environment, Promotion, and Islamic Financial Literacy on Students’ Interest in Using Islamic Banking Products
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Angelo Zauqi Rafl Priambodo*
Himmatul Kholidah
Yan Putra Timur
Indonesia’s Islamic banking sector continues to grow, yet this growth has not translated into strong interest among students, particularly Muslim students, in using Islamic banking products. This study examines the influence of understanding of Islamic contracts, social environment, promotion, and Islamic financial literacy on students’ interest in using Islamic banking products, using the Theory of Planned Behavior (TPB) framework. This study avails itself of a quantitative approach, specifically an explanatory quantitative design, and employs a survey methodology with 111 college students serving as research respondents. Data were amassed via a questionnaire crafted in accordance with the indicators germane to each research variable. Data scrutiny was executed through Structural Equation Modeling Partial Least Squares (SEM-PLS) by means of SmartPLS 4 software, so as to appraise the measurement model (outer model) and the structural model (inner model), as well as to adjudicate the research hypotheses. The findings intimate that understanding of contracts (t-statistic (2.208), p-values (0.027)), social environment (t-statistic (2.742), p-values (0.006)), and Islamic financial literacy (t-statistic (4.036), p-values (0.000)) wield a positive and consequential effect upon students’ interest in using Islamic banking products. Islamic financial literacy proves the most formidable determinant of usage interest. Conversely, promotion (t-statistic (1.068), p-values (0.286)) fails to exert an appreciable effect upon students’ interest in using Islamic banking products. These revelations suggest that cognitive and social determinants assume a more preponderant role than promotional undertakings in molding students’ inclination toward Islamic banking products.
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