Factors Influencing Interest of Indonesian Muslim Millennials in Waqf

Nashr Akbar and Nur Fikriani Fiqih Al Ihsan

Chapter 26 in Islamic Accounting and Finance:A Handbook, 2023, pp 777-806 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter aims to identify factors that may influence the interest of Indonesian Muslim millennials in performing waqf. Five variables, namely waqf literacy, religiosity, trust in waqf institutions, religiosity, income, and social influence, were tested using SEM-PLS method. Data are obtained through online questionnaires with the number of sample is 321 Muslim millennials from the five major islands in Indonesia. The finding shows that four variables, literacy, religiosity, trust in waqf institutions, and social influence, have a significant impact on their interest in waqf donation. As a result, waqf institutions must nurture trust of prospective waqf through massive socialization such as social media which is widely accessed by millennials. This may attract their attention, leave a good impression, and create a supporting environment. In addition, waqf institutions need to instill trust by being more open, honest, and transparent about the programs they created through campaigns by bringing social and religious issues packed with excellent and exciting delivery that can help increase the interest of Muslim millennials in performing waqf. Furthermore, quality of nazhir should be improved, collaboration should be promoted, and the utilization of digital technology are highly recommended.

Keywords: Islamic Accounting; Islamic Finance; Islamic Banking; AAOIFI (search for similar items in EconPapers)
JEL-codes: G34 M41 (search for similar items in EconPapers)
Date: 2023
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