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Factors Affecting the Acceptance of Financial Technology
among Asnaf for the Distribution of Zakat in Selangor-
A Study Using UTAUT
Muhamad Hasif Yahayaa, Khaliq Ahmada
aIIUM Institute of Islamic Banking and Finance, International Islamic University, Malaysia
Abstract
Financial technology or fintech, which is technology-based financial services has become a major role player in enhancing
the effectiveness and efficiency of financial services. The financial industry has evolved significantly globally with the
impact of technological innovation. For example in Malaysia, the financial institution can offer various services to their
customers in facilitating and fulfilling their financial needs. Furthermore, the impact of fintech also had changed the social
finance sector such as Zakat Institutions. For example, in Malaysia during the old days people have to go to the counter
to pay zakat or to collect the zakat as well. Nevertheless with the help of various technology-based financial services such
as online banking, mobile banking and others that are provided by the financial institution, the collection of zakat has
been empowered. Contrary to that, in terms of the distribution aspect there are still a lot that can be improved with the
help of fintech. Thus, in this study mobile banking will be the focus in improving zakat distribution rate. This study aims
to explore factors that could influence asnaf acceptance rate in adopting mobile banking for the distribution of zakat using
the UTAUT model. This study consists of empirical data collected from the state of Selangor, Malaysia.
Keywords: Fintech, Mobile banking, Zakat, UTAUT
© IIUM Press
1. Introduction
Zakat is one of the five fundamental pillars of Islam. Payment of zakat is made an obligatory form of worship
to Allah s.w.t. Zakat is a Quranic term that signifies the specific obligation of giving a portion of an
individual’s wealth and possession solely for charitable purposes. Literally, zakat is derived from an Arabic
word that carries the meaning of “which purifies”, as well as “which foster”, growth and increase (Mannan,
1986). On top of that, zakat has been mentioned in the Holy Quran with other meaning such as sadaqah
(donation) which also carries the connotation of giving in charity. According to Lembaga Zakat Selangor
(2010), zakat means spending some specific property to be given or paid to the asnaf as they are entitled to
receive the zakat funds in line with the conditions stipulated by syara’. Asnaf is classified into eight categories
as mentioned in the Holy Quran in Surah At-Taubah.
“Alms are for the poor and the needy, and those employed to administer zakat (amil), for those whose
hearts have been reconciled to the Truth, for those in bondage and in debt, in the cause of Allah and for the
wayfarer” (9:60)
Zakat is a vital element in Islamic public finance which covers the moral, social and economic spheres. From
the moral perspective, zakat washes away the sentiment of greed of the rich. On the other, in the social sphere,
zakat acts as a safeguard to alleviate poverty from the society by making it a social obligation to the affordable
Muslims. While in the economic sphere, zakat prevents the accumulation of wealth in the hands of a few
(Wahid et al., 2009).
Journal of Islamic Finance (Special Issue) (2019) 035 – 46
IIUM Institute of Islamic Banking and Finance
ISSN 2289-2117 (O) / 2289-2109 (P)
Hasif Yahaya & Ahmad / Acceptance of Fintech for the Distribution of Zakat
36
The traditional way of zakat collection was done through the payment over zakat counter in the zakat
office or through zakat counter at the mosque. However, with the advent of internet it has changed the way
of payment into internet payment or also known as e-payment. According to the report, shopping or paying
bills online ranked fourth among 10 specific internet uses. From the Internet World Statistics, in 2014
Malaysia is ranked in the 37th place in the world internet users list with 40.25% internet penetration of the
total population. This shows that Malaysian would probably give a positive response towards the initiative of
zakat institutions to introduce online zakat (e-zakat) to the community (Abdul Roni and Tarmidi, 2015).
However, even though the management of zakat collection is getting better from year to year the issue of
zakat distribution still causes a lot of problems and arguments (Lubis et al., 2011). Thus, mobile banking is
suggested as the new method for zakat distribution to asnaf (the people who are entitled to receive zakat) in
Selangor. Therefore, the objective of this study is as follows:
1.1 Aim and Scope of the Study
The aim and objective of this study is primarily to identify the factors affecting the acceptance of financial
technology which is mobile banking among asnaf for the distribution of zakat using the Unified Theory of
Acceptance and Usage of Technology (UTAUT) model. The result from this study could be used to improve
and enhance the system, method and efficiency of zakat distribution not only in Selangor but also in other
states as well.
2. Literature Review
2.1 Zakat Institutions in Malaysia
In Malaysia, the Zakat Institution is under the jurisdiction of each state. Each state has their own law regarding
zakat. For example, in Selangor, the highest authority is the Sultan of Selangor which then will be followed
by the State Islamic Religious Council or MAIS (Majlis Agama Islam Selangor). However, there are some
states which have privatized their zakat institution like Selangor, Wilayah Persekutuan Kuala Lumpur,
Pahang, Pulau Pinang, Melaka and Negeri Sembilan (Ahmad et al., 2006). This privatization has been made
to ensure the zakat management is capable of providing quality service in maximizing customers’ satisfaction
through professional approach, latest technology used in accordance with Islamic values.
2.2 Zakat Collection and Distribution in Malaysia
Nowadays, technology innovation has improved how zakat is collected. Since the people do not know how
to calculate the amount of zakat they need to pay, the institution has provided a calculator on their website
which can calculate the total amount to be paid according to the type of zakat such as zakat on income, zakat
on business, zakat on gold and silver and others. There are various ways for the Muslim to pay their zakat.
For example, Zakat Selangor has provided four ways for the Muslims in the state to pay zakat. The first
method is through the internet banking. Zakat payers now can pay zakat through their internet banking.
Currently there are 10 banks that offer the service which are RHB Bank (RHB Online banking), AmBank
(AmOnline), CIMB Bank (CIMB Clicks), Bank Islam (Bank Islam Internet Banking), OCBC Bank (OCBC
Al-Amin Internet Banking), Public Bank (PB e-Bank.com), Bank Rakyat (iRakyat), EON Bank (EON Bank
Online Banking), HSBC Bank (HSBC online Banking) and Maybank (Maybank2u).
The second method is through credit card and debit card. Those who would like to pay zakat using a credit
card can just go to any Lembaga Zakat Selangor (LZS) counter and just swipe the card. However, the counter
only allows Islamic credit card which has been recognized by the Jabatan Mufti Negeri Selangor. Among the
Islamic credit or debit cards that are allowed are (1) Bank Islam (Visa and Master), (2) Al-Taslif AmBank
(Visa and Master), (3) I-Bank Rakyat, (4) Al-Ikhwan Maybank Islamic, (5) Al-Rajhi Bank and (6) Al-Aiman
BSN. For a debit card, all local banks including Al-Rajhi Bank are allowed as long as the card has the logo
of MEPS BANKCARD and microchip. The third method is through MyClear FPX (Financial Process
Exchange). FPX is a service where the payment can be done in real time directly from ones’ internet banking.
The fourth method includes others, such as through salary deduction, directly through any LZS counter,
through postage, SMS, and others.
37
Journal of Islamic Finance (Special Issue) (2019) 035-046
2.3 Issues in Zakat Distribution
Even though the collection of zakat has been developing from year to year, the issue of zakat distribution still
remains to be discussed and improved for the benefit of the asnaf (Lubis et al., 2011). Channel and method
of distribution issues have attracted the attention of Muslim community, especially the zakat payers (Hafizah
et al., 2016). This is because the zakat payers would like to know where and to whom do the zakat they paid
go to. There are also prior studies discussing the issues of the inefficiency and poor management in zakat
distribution (Ahmad et al., 2006; Ahmad et al., 2005; Ibrahim, 2008; Wahid et al., 2009). These studies share
one common issue, which is even when the collection of zakat is getting better year by year the issue regarding
zakat distribution still arises up.
According to Azman et al. (2012), there are three issues on zakat institutions in Malaysia which are (1)
inefficiency especially in distribution aspects, (2) identifying and tracing prospective zakat payers, and (3)
capacity building of the asnaf. In the efficiency aspect, the zakat distribution does not reach the ‘real’ asnaf
due to lack of knowledge. Secondly, the zakat was distributed to the right person but at the same time, there
are other people who need more zakat compared to the former. Thirdly, the element of bureaucracy which
would eventually slow down the process of zakat application. For example, people who have ‘bad’ experience
with the authority would feel discouraged to apply for zakat due to personal dignity.
In the prospective payer’s aspect, the authors believe that the collection of zakat could be improved not
only by identifying those who pay zakat but also trace down to the prospective zakat payers. Zakat institution
aims is to build and guide the asnaf. Just by giving the asnaf a sum of money to buy their necessities is only
a short-term solution. The long-term goal is to transform from an asnaf to the one who becomes the payer of
the zakat. However, this could be achieved by providing education, certain skills, and training that could be
the catalyst for future employability or entrepreneurship development.
2.4 Financial Technology (Fintech) Usage
The trend towards digitalization and technological innovation has been transforming many areas including
Islamic banking as well. Nowadays, the term ‘Fintech’ or also known as financial technology is a buzz word
in the banking and financial industry, is on the rise. The technology innovation does not only happen in the
mainstream financial sector but also in the public and non-financial sector such as Zakat Institutions to ensure
successful financial inclusion. Zakat payment and distribution method has evolved from desk or service
counter to internet banking. The technological changes in the method have also significantly improved the
collection rate. Currently, there is no consensus on what the term ‘Fintech’ means (Schueffel, 2016).
Therefore, in this sub-section, the definition of ‘Fintech’ will be briefly discussed.
2.4.1 Definition of Fintech
There is no consensus on what the term ‘Fintech’ means (Schueffel, 2016). Different authors interpret it
differently. Therefore, in this sub-section, the definition on ‘Fintech’ will be briefly discussed. Table 1 shows
the concise definitions of Fintech.
Table 1: Definition of Fintech
Author
Definition
(Bettinger, 1972)
p.62
“FINTECH is an acronym which stands for financial technology, combined bank
expertise with modern management science technique and the computer”.
(Micu and Micu,
2016) p. 380
“Financial Technology, also known as Fintech is a new sector in the finance
industry that incorporates the whole plethora of technology that is used in finance
to facilitate trades, corporates’ business interaction, and services provided to the
retail consumer”.
(Shim and Shin,
2016) p. 170
“Fintech is an emerging financial services sector that includes third-party
payment, MMF, insurance products, risk management, authentication, and peer-
to-peer (P2P) lending”.
Hasif Yahaya & Ahmad / Acceptance of Fintech for the Distribution of Zakat
38
(Maier, 2016) p.
143
“Driven by technological advances, new service model has developed in the
financial industry which offer additional opportunities to customers. Under the
common denominator ‘fintech’, these new businesses aim to challenge existing
financial institutions by using technology to deliver value to the customers in an
alternative way”.
(Čižinská, Krabec,
and Venegas,
2016) p. 1
“Fintech is an economic industry composed of companies that use technology and
are technology savvy to make financial services more efficient”.
(Lončarski, 2016)
p. 2
“In addition to this, a particular evolution and the use of technology (commonly
referred these days as fintech) in finance are disrupting traditional business model
in financial markets, as well as bringing about new and unchartered risk
territories”.
(Shen and Huang,
2016) p. 221
“Internet finance, which is often referred to as ‘digital finance’ and ‘Fintech’
outside China, was coined by Ping Xie and Chuanwei Zou (2012)”.
(Xie, Zou, and Liu,
2016) p. 241 and
250
“Internet finance is a spectral concept. It covers all form of financial transaction
and financial intermediaries and markets, such as commercial banks, securities
firms, insurance companies, and stock exchange, to the scenario under Walrasian
equilibrium (where neither financial intermediaries nor markets exist) caused by
the impacts of internets technologies” and “We think internet finance and fintech
are essentially different word for the same concept”.
(Jun and Yeo,
2016) p. 159
“Recent advances in information and communication technology (ICT) have led
to the rapid development and expansion of new and 18 innovative financial
services, often termed as Fintech”
(Kim, Choi, Park,
and Yeon, 2016) p.
1058
“Fintech is a service sector which uses mobile-centered IT technology to enhance
the efficiency of the financial system. As a term, it is a compound of ‘finance’ and
‘technology’ and collectively refers to industrial changes forged from the
convergence of financial services and IT”.
(Xie and Zou,
2013) p. 1
“Besides indirect financing via commercial banks and direct financing through
securities markets, a third way to conduct financial activities will emerge, which
we call ‘internet finance”.
(Barberis, 2014) p.
5
“Fintech refers to the application of technology within the financial industry. The
sector covers a wide range of activities from payment (e.g. contactless) to financial
data and analysis (e.g. credit scoring), financial software (e.g. risk management),
digitized processes (e.g. authentication) and, perhaps most well-known to the
wider public, payment platforms (e.g. P2P lending).”
Source: Schueffel (2016)
From the definition above, it can be seen that each of the literature gives different views about Fintech.
However, the authors had highlighted that all the definitions have two commonalities that they shared which
are (1) financial industry and (2) technology innovation, for enhancing or facilitating financial activities in
the broadest sense and as a result the following definition of Fintech is proposed:
“Fintech is a new financial industry that applies technology to improve financial activities.”
In Malaysia, on July 2016 Bank Negara Malaysia (BNM) the central bank of Malaysia, specifically has
introduced its Regulatory Sandbox for the proactive agenda of ‘Fintech’. In the paper, BNM refers ‘fintech’
as “technological innovation applied to the provision of financial services”. Therefore, in Malaysia, the
definition of fintech will be based on what is provided by Bank Negara Malaysia.
2.4.2 Enhancement of Zakat Distribution Method: Mobile Banking
In early stage of mobile banking adoption research in Malaysia, Amin et al. (2006) defined SMS-banking as
banking transaction via mobile phone in the form SMS. Amin et al. (2007) defined mobile banking as banking
transaction such as checking balance, latest transaction and credit card transaction through mobile phone.
Thye Goh et al. (2014), defined mobile banking to financial transaction such as checking account balance,
bill payment and other financial services (p2p lending or p2p payment) done via mobile phone, tablets or any
39
Journal of Islamic Finance (Special Issue) (2019) 035-046
device that have equivalent functions. Valentine (2011) also stated that the channel for mobile banking
services can be categorized as ‘triple play’ which is through SMS-based, web-based and mobile Apps. For
example, Maybank has Maybank2u apps for their consumers, CIMB bank has CIMB Click apps, and Bank
Islam have Bank Islam i-info and TAP Mobile-banking-i. All the financial services innovation has given a
lot of benefit to the consumers by reducing cost and less time consuming. Therefore, in this study mobile
banking is defined as any financial transaction that could be done via mobile phone through all the channel
(SMS-based, web-based, and mobile Apps) provided by the banks.
The collection methods have been transforming rapidly from over the years. From traditional method
which is counter service until the application of internet banking and so on. However, technology innovation
for the distribution of zakat is not on the same level as the collection process. Therefore, in this study mobile
banking (m-banking) is suggested as the new distribution channel of zakat to the asnaf. Mobile banking
features which are mobility, user friendly, cost-saving, anytime, and anywhere could be one of the solutions
to tackle the issue of inefficiency.
The application of mobile banking will not only help to strengthen the distribution method of zakat in
Selangor but from the economic sphere as well. Previous studies have shown that mobile banking has been
very effective in improving financial inclusion of a country such as Ghana, in which there are a large number
of people who live below the international poverty line which is US$ 1 per day. Thus mobile banking has
provided banking access to 90% of the people who do not have financial access (Hinson, 2011). According
to Klein and Mayer (2011), the significance of mobile banking is threefold. First, it provides financial access
to the underserved population such as asnaf and unbanked location. Second, it will improve the regulatory
and competition policy. Third, it gives insight on the fundamental concept of this services.
2.5 Unified Theory of Acceptance and Usage of Technology (UTAUT) Model
Figure 1: UTAUT Model
Source: Venkatesh et al. (2003)
Figure 1 shows the overall concept of the UTAUT model. UTAUT model was developed by Venkatesh et al.
(2003) with the purpose of integrating the fragmented theory and research on individual acceptance of
information technology into a unified theoretical model. Therefore, the eight specific models of the
determinants of intention and usage of information technology were compared and the conceptual and
empirical similarities across these models were used to formulate UTAUT. Table 3 and Table 4 will briefly
explain the core constructs of UTAUT and its definitions.
Hasif Yahaya & Ahmad / Acceptance of Fintech for the Distribution of Zakat
40
Table 3: Constructs Integrated into UTAUT Model
Core construct
Construct and theories
References
Performance Expectancy
Perceived usefulness (TAM/TAM2 and
C-TAM-TPB)
Davis (1989)
Extrinsic motivation (MM)
Davis, Bagozzi, and Warshaw
(1992)
Job-fit (MPCU)
Thompson, Higgins, and Howell
(1991)
Relative advantage (IDT)
Moore and Benbasat (1991)
Outcome expectations (SCT)
Compeau and Higgins (1995)
Effort Expectancy
Perceived ease of use (TAM/TAM2)
Davis (1989)
Complexity (MPCU)
Thompson et al. (1991)
Ease of use (IDT)
Moore and Benbasat (1991)
Social Influence
Subjective norm (TRA, TAM2, TPB
and C-TAM-TPB)
Ajzen (1991), Fishbein and
Ajzen (1975), Taylor and Todd
(1995)
Social factors (MPCU)
Thompson et al. (1991)
Image (IDT)
Moore and Benbasat (1991)
Facilitating Conditions
Perceived behavioral control (TPB and
C-TAM-TPB)
Ajzen (1991), Taylor and Todd
(1995)
Facilitating conditions (MPCU)
Thompson et al. (1991)
Compatibility (IDT)
Moore and Benbasat (1991)
Source: Venkatesh et al. (2003)
Table 4: UTAUT Model
Core
Construct
Definitions
Reference
Performance
Expectancy
“the degree to which an individual believes that using the system will
help him or her to attain gains in job performance”.
Venkatesh et
al. (2003)
Effort
Expectancy
“the degree of ease associated with the use of the system”.
Social
Influence
“the degree to which an individual perceives that is important, others
believe he or she should use the new system”.
Facilitating
Conditions
“the degree to which an individual believes that an organizational and
technical infrastructure exists to support the use of the system”.
3. Methodology
3.1 Research Model
In this study, UTAUT was employed to study the acceptance of asnaf and mobile banking usage as one of
the distribution methods of zakat. From Figure 1, UTAUT will have four factors that will influence the use
of mobile banking for zakat distribution which are performance expectancy, effort expectancy, social
influence, and facilitating conditions. However, in this study we did not discuss the moderating effect of
gender, age, experience and voluntariness because we wanted to focus only on the core determinants that
could influence the acceptance of mobile banking by the asnaf. Therefore, an adaptation of model with some
alteration had been done to the research model. The research model that will be used in this study is on the
altered model (refer Figure 2).
41
Journal of Islamic Finance (Special Issue) (2019) 035-046
Figure 2: Research Model
3.2 Hypotheses
Based from altered model, the following five hypotheses are developed:
a) Hypothesis 1: Performance expectancy positively affects asnaf intention to use mobile banking for the
distribution of zakat.
b) Hypothesis 2: Effort expectancy positively affects asnaf intention to use mobile banking for the
distribution of zakat.
c) Hypothesis 3: Social influence positively affects asnaf intention to use mobile banking for the distribution
of zakat.
d) Hypothesis 4: Facilitating conditions of mobile banking positively affects asnaf usage behavior of
actually using the mobile banking for the distribution of zakat.
e) Hypothesis 5: Asnaf behavioral intention to use mobile banking positively affects the asnaf usage
behavior of using the mobile banking for the distribution of zakat.
3.3 Data Collection
The data collection process can be divided into three places which are:
a. Mobile Zakat Counter (Kaunter Zakat Bergerak)
• A lot of asnaf go there to apply for zakat (financial assistance), highly preferred by asnaf
because most of them have difficulty going to the main branch in the city centers due to lack
of transport and other difficulties. Usually, the mobile counter will set up their base to the
nearest mosque in certain areas.
b. Ihya’ Ramadhan Iftar Program 2018
• With the assistance from zakat officers, a list of program was given where a lot of asnaf will
gather together for Iftar during the month of Ramadhan. From the list given, 6 mosques were
visited from different areas which are (1) Puncak Alam, (2) Shah Alam, (3) Kuala Selangor
(4) Petaling, (5) Gombak and (6) Klang districts in Selangor state.
c. International Islamic University Malaysia (IIUM) Library
• During the pilot test, some of the respondents were IIUM students. These students have also
received zakat (financial assistance) for furthering their studies.
User Behavior
Effort Expectancy
Social Influence
Facilitating Conditions
Behavioral Intention
Performance Expectancy
Hasif Yahaya & Ahmad / Acceptance of Fintech for the Distribution of Zakat
42
Survey questionnaire was used in collecting the data. A total of 470 valid questionnaires were collected during
the data collection phase. The items for the questionnaire was adapted from the previous study of Venkatesh
et al. (2003). Then, the item was translated into Malay language since not all asnaf (categories ‘a’ and ‘b’)
are able to read English. The translated questionnaire was then validated by academicians with high
proficiency level in both Malay and English languages. A translator was also hired to double check the
questionnaire, so that it will be appropriate for the asnaf to answer correctly. On top of that, zakat officers
also give good reviews of the questionnaire before and during the distribution process.
3.3.1 Analysis
In this study, Statistical Package for Social Science (SPSS) was employed to analyze the data using reliability
analysis, correlation analysis and regression analysis.
Reliability Analysis
Reliability analysis is a measure to define the degree to which
measurements are free from error and therefore yield consistent results.
Correlation Analysis
Correlation analysis is a measure of the degree to which a change in the
independent variables will result in a change in the dependent variable.
Regression Analysis
Regression analysis includes any techniques for modeling and analyzing
several variables, with a focus on the relationship between a dependent
variable and one or more independent variables.
4. Results and Findings
A successful efforts in data collection and analysis must provide a good result that leads to research
findings. Table 5 below describes the detail findings.
4.1 Descriptive Analysis
Table 5: Respondent Demographic
Gender
Male
166
35.3%
Female
304
64.7%
Age
19-37
53
11.3%
38-51
238
50.6%
52-75
179
38.1%
Race
Malay
438
93.1%
Chinese (Muallaf )
3
0.6%
Indian (Muallaf )
5
1.1%
Others
24
5.1%
Category of Asnaf
Fakir and Miskin (Poor and Needy)
419
89.1%
Muallaf (Chinese and Indians)
29
6.2%
Fisabilillah
21
4.5%
Ibnu Sabil
1
0.2%
From Table 5, the results show that there are more females asnaf compared to males. Besides that, most of
them from the age ranging from 38-51 years old which then followed by age group ranging from 52-75 years
old and 19-37 years old respectively. We can say that most of the asnaf are older people with most of them
are Malays, only few of them are Indians, Chinese (muallafs), and others ethnic groups. Most of the asnaf are
from fakir and miskin category, then followed by muallaf, fisabilillah and ibnu sabil.
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Journal of Islamic Finance (Special Issue) (2019) 035-046
4.2 Reliability Analysis
Table 6: Reliability Analysis Result
Cronbach’s alpha
Performance expectancy
0.838
Effort expectancy
0.866
Social influence
0.805
Facilitating conditions
0.740
Behavioral intention
0.918
User behavior
0.916
Cronbach’s alpha (for 6 items above)
0.838
Table 6 shows the result of reliability analysis for all the measures. The result indicates that all the measures
are robust in term of their internal consistency reliability as indexed by composite reliability. The composite
reliability ranged from 0.74 to 0.916, which exceeded the recommended threshold value of 0.70.
4.3 Correlation Analysis
Table 7: Correlation Analysis Result
PE
EE
SI
FC
BI
UB
PE
1.000
EE
0.691
⃰
⃰
1.000
SI
0.475
⃰
⃰
0.286 ⃰ ⃰
1.000
FC
0.342
⃰
⃰
0.579
⃰
⃰
0.436
⃰
⃰
1.000
BI
0.487
⃰
⃰
0.269 ⃰ ⃰
0.582 ⃰ ⃰
0.330
⃰
⃰
1.000
UB
0.383
⃰
⃰
0.163 ⃰ ⃰
0.663 ⃰ ⃰
0.387
⃰
⃰
0.868 ⃰ ⃰
1.000
Notes: PE= performance expectancy, EE= effort expectancy, SI= social influence, FC= facilitating conditions,
BI= behavior intention, UB= user behavior. ⃰ ⃰ Correlation is significant at the 0.01 level (2-tailed)
Table 7 shows the correlation analysis. Generally, all the item is loaded significantly (p < 0.01) on its
construct. All the coefficients are ranging from 0. 286 to 0.868 (significant).
4.4 Regression Analysis
Table 8: Regression of adoption factors on intention
β
t-value
PE
.217
6.282 ⃰ ⃰ ⃰
EE
-.051
-1.889
SI
.390
10.946
⃰
⃰
⃰
R²
.400
Adjusted R²
.397
Notes: PE= performance expectancy, EE= effort expectancy, SI= social influence, UB= use behavior
Hasif Yahaya & Ahmad / Acceptance of Fintech for the Distribution of Zakat
44
Table 9: Regression of Intention to use on User behavior
β
t-value
FC
.084
4.773 ⃰ ⃰ ⃰
BI
.921
34.889 ⃰ ⃰ ⃰
R²
.764
Adjusted R²
.763
Notes: PE= performance expectancy, EE= effort expectancy, SI= social influence, FC= facilitating conditions, BI=
behavior intention, UB= use behavior. ⃰ ⃰ ⃰ Regression is significant at the .001 level
From the results shown in Tables 8 and 9, we can confirm whether the hypotheses are supported or not as
follows:
1. Hypothesis 1: Performance expectancy positively affects asnaf intention to use mobile banking for the
distribution of zakat.
• The result indicates that performance expectancy positively affects asnaf intention to use mobile
banking for zakat distribution (β = .217, p < .001). Therefore, hypothesis 1 is supported. This
also means that when asnaf expect mobile banking to increase performance, their intention to
use also increases.
2. Hypothesis 2: Effort expectancy positively affects asnaf intention to use mobile banking for the
distribution of zakat.
• The hypothesis is not supported.
3. Hypothesis 3: Social influence positively affects asnaf intention to use mobile banking for the distribution
of zakat.
• The result indicates that social influence positively affect asnaf intention to use mobile banking
for zakat distribution (β = .319, p < .001). Therefore, hypothesis 3 is also supported. Hence, we
can say that if peers, family members or someone important to the asnaf suggest him/her to use
mobile banking, it will increase their intention to use them.
4. Hypothesis 4: Facilitating conditions of mobile banking positively affects asnaf usage behavior in using
the mobile banking for the distribution of zakat.
• The result indicates that facilitating conditions positively affect asnaf to use mobile banking for
zakat distribution (β = .084, p < .001). Therefore, hypothesis 4 is also supported. This means
that, when the asnaf receive more facilitating conditions to use mobile banking, they will use it
for zakat distribution as well.
5. Hypothesis 5: Asnaf behavioral intention to use mobile banking positively affects the asnaf usage
behavior in using the mobile banking for the distribution of zakat.
• The result indicates that behavioral intention positively affect asnaf to use mobile banking for
zakat distribution (β = .921, p < .001). Therefore, hypothesis 5 is supported. This also means
that, when the asnaf have higher intention to use mobile banking for zakat distribution, they
have higher usage rate of using mobile banking for zakat distribution.
5. Conclusion
All the findings support the UTAUT model to understand the factors affecting the acceptance of financial
technology among asnaf for the distribution of zakat except for effort expectancy which is found to be not
significant. Therefore, it is suggested that the Department of Technology for Zakat institutions to discuss with
financial institutions to develop system or apps that is mobile user friendly for asnaf in enhancing efficiency
in the distribution of zakat.
Finally for future studies, it is recommended to further add new value to the model which has not been
validated or overlooked so far in the previous studies.
45
Journal of Islamic Finance (Special Issue) (2019) 035-046
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