Islamiconomic: Jurnal Ekonomi Islam
Vol 17, No 1 (2026)

Understanding Cash Waqf Intention among Academics: The Role of Financial Literacy as a Moderating Variable

Zulkarnaen Zulkarnaen (Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi)
Asyari Asyari (Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi)
Hesi Eka Puteri (Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi)
Aidil Alfin (Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi)



Article Info

Publish Date
30 Jun 2026

Abstract

Despite Indonesia’s substantial potential for cash waqf, its realization remains far below expectations, suggesting relatively low public interest in participating in such initiatives. This study aims to examine the effects of attitudes, subjective norms, religiosity, and information media on the intention to participate in cash waqf, with cash waqf literacy positioned as a moderating variable among lecturers of the Faculties of Islamic Economics and Business at State Islamic Religious Universities (PTKIN) in West Sumatra. This research employs a quantitative, survey-based approach. Primary data were collected via questionnaires distributed to 150 lecturers and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The findings reveal that attitudes, subjective norms, religiosity, and information media significantly and positively influence cash waqf intention. However, cash waqf literacy does not significantly moderate the relationships between these variables and cash waqf intention. These findings contrast with prior studies suggesting that cash waqf literacy plays a significant role in enhancing participation intention. The absence of a moderating effect indicates that the determinants proposed by the Theory of Reasoned Action (TRA) exert a strong, direct influence independent of literacy levels. In practice, the results imply that waqf institutions and nazhir should reconsider their strategic focus, shifting from literacy-based campaigns to strengthening transparency, trust, and institutional credibility, particularly when targeting academics and upper-middle-class Muslim communities.

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Journal Info

Abbrev

ijei

Publisher

Subject

Religion Economics, Econometrics & Finance Social Sciences

Description

Islamiconomic: Jurnal Ekonomi Islam (IJEI) is a periodical scientific publication intended for economists who want to publish their articles in the form of literature studies, research, and scientific development in the field of Islamic economics. IJEI was first published in 2009 which is annually ...