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All Journal Journal of Islamic Monetary Economics and Finance
Rapi, Muh Zul Hazmi
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Economics, Econometrics & Finance

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INDONESIAN LOW-INCOME HOUSEHOLDS’ ACCEPTANCE OF MICROTAKAFUL IN EAST JAVA Rapi, Muh Zul Hazmi; Kassim, Salina
Journal of Islamic Monetary Economics and Finance Vol 9 No 4 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i4.1898

Abstract

This research investigates the inclination of economically disadvantaged households in East Java, Indonesia, towards microtakaful adoption, utilizing an extended Theory of Planned Behavior (TPB). Analyzing data from 304 respondents through online and face-to-face surveys, the study reveals a significant demand for microtakaful among low-income households. Behavioral intention is positively influenced by factors such as attitude, subjective norms, price, and knowledge, with price being the most critical determinant. Notably, a substantial number of respondents from low-income backgrounds express positive intention toward microtakaful. The study underscores the importance of microtakaful providers raising awareness, offering affordable structures, and highlighting microtakaful's value as a risk management tool. By employing an advanced TPB model, this research offers profound insights into the perceptions and behavioral tendencies of East Java's low-income households regarding microtakaful. The findings suggest actionable strategies for providers to enhance outreach and participation among this vulnerable group, contributing to improved financial inclusion and resilience.
Co-Authors Salina Kassim