The Interconnection between Level of Income and Tendency towards Adoption of Islamic Digital Banking

Abstract

During the globalisation period, information and communication technology (ICT) has profoundly impacted various fields, particularly in the banking and finance sector in which resulted to the emergence of digital banking. When a country's majority population is Muslim, such as Malaysia, Islamic digital banking becomes required to arise in order to meet the needs of the country's community to enjoy the halal financing products given by Islamic banking. However, the community may respond or not to the adoption of new technology such as Islamic digital banking since there are certain elements that impact people's proclivity to accept this new technology. This study is aimed to investigate the interconnection between the average income level of Malaysian community and the tendency Malaysian community toward the adoption of Islamic digital banking. This study used a quantitative survey questionnaire with 100 valid respondents. The SPSS software was utilised in this study to analyse the data using descriptive analysis. The general finding of this study shows that the group with lower income level be responsive about the adoption of Islamic digital banking compared to the higher income group. It indicates that, this group believed that Islamic digital banking can be beneficial to the community socially and economically. Keywords: Information and communication technology, banking and finance, Islamic digital banking, level of income, tendency, Islamic Finance