Determinants of Sharia Restricted Intermediary Account (SRIA) Adoption in Islamic Banks: A Theory of Planned Behavior Approach

Authors

Tika Arundina, Universitas IndonesiaFollow

Abstract

Purpose - This study examines the psychological factors influencing attitudes, subjective norms, perceived behavioural control, and intention to use Sharia Restricted Intermediary Account (SRIA) products in Islamic banking. As Indonesia experiences a demographic bonus, understanding these factors is essential to enhancing SRIA adoption and supporting national investment growth.

Design/methodology/approach - A non-probability sampling method was used, collecting data from 280 respondents. Partial Least Squares-Structural Equation Modeling (PLS-SEM) was employed for data analysis.

Findings - The results indicate that compatibility and relative advantage positively influence attitudes toward SRIA, while uncertainty has a negative effect. Spirituality and normative beliefs positively impact subjective norms, while self-efficacy and facilitation conditions enhance perceived behavioral control. Additionally, attitudes, subjective norms, and perceived behavioral control significantly influence an individual’s intention to use SRIA.

Implications – The findings suggest that the government and the Islamic banking industry should emphasize Sharia compliance, investment benefits, and spiritual values in SRIA marketing strategies. Education and accessibility are also crucial in strengthening public confidence in this product.

Originality/value - This study fills a research gap by specifically analyzing psychological factors influencing SRIA adoption, a relatively new Islamic banking product. It contributes to behavioral finance literature and provides insights for policymakers and financial institutions in promoting SRIA and expanding Islamic banking participation.

References

Abdul-Hamid, M., Yaakub, N. I., Mujani, W. K., Sharizam, M., & Jusoff, K. (2011). Factors adopting Islamic home financing: A case study among consumers of Islamic bank in Malaysia. Middle East Journal of Scientific Research, 7, 47-58.

Abduh, M., & Ould Mohamed Mahmoud, L. (2014). The role of awareness in Islamic bank patronizing behavior of Mauritanian: An application of TRA. Journal of Islamic Finance, 3, 30-38. https://doi.org/10.12816/0025103

Ajzen, I. (2005). Attitudes, personality, and behavior (2nd ed.). New York: McGraw-Hill.

Ajzen, I. (2006). Behavioral interventions based on the theory of planned behavior.

Ajzen, I., & Fishbein, M. (1980). Understanding attitudes and predicting social behavior. Englewood Cliffs, NJ: Prentice-Hall.

Anton Priyo Nugroho, A., Hidayat, A., & Kusuma, H. (2017). The influence of religiosity and self-efficacy on the saving behavior of Islamic banks. Banks and Bank Systems, 12(3), 35-47. https://doi.org/10.21511/bbs.12(3).2017.03

Chapra, M. U. (1985). Towards a just monetary system. Herndon, VA: International Institute of Islamic Thought (IIIT).

Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A primer on partial least squares structural equation modeling. Thousand Oaks, CA: Sage.

Hair, J. F., Sarstedt, M., Pieper, T. M., & Ringle, C. M. (2012a). The use of partial least squares structural equation modeling in strategic management research: A review of past practices and recommendations for future applications. Long Range Planning, 45(5/6), 320-340.

Hair, J. F., Sarstedt, M., Ringle, C. M., & Mena, J. A. (2012b). An assessment of the use of partial least squares structural equation modeling in marketing research. Journal of the Academy of Marketing Science, 40(3), 414-433.

Manurung, A. H. (2012). Teori investasi: Konsep dan empiris. Jakarta: Adler Manurung Press.

Mustapha, N., Mohammad, J., Quoquab, F., & Salam, Z. A. (2023). “Should I adopt Islamic banking services?” Factors affecting non-Muslim customers’ behavioral intention in the Malaysian context. Journal of Islamic Marketing, 14(10), 2450-2465.

Priyo Nugroho, A., Hidayat, A., & Kusuma, H. (2017). The influence of religiosity and self-efficacy on the saving behavior of Islamic banks. Banks and Bank Systems, 12(3), 35-47. https://doi.org/10.21511/bbs.12(3).2017.03

Rogers, E. M. (1983). Diffusion of innovations. Urbana-Champaign, IL: Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship.

Rulindo, R., & Pramanik, A. H. (2013). Finding a way to enhance the impact of Islamic microfinance: The role of spiritual and religious enhancement programmes.

Shefrin, H., & Statman, M. (2000). Behavioral portfolio theory. Journal of Financial and Quantitative Analysis, 35(2), 127-151. https://doi.org/10.2307/267618

Recommended Citation

Arundina, Tika (2025) "Determinants of Sharia Restricted Intermediary Account (SRIA) Adoption in Islamic Banks: A Theory of Planned Behavior Approach," International Journal of Islamic Economics and Business Sustainability (IJIEBS): Vol. 1: Iss. 1, Article 1.
Available at: https://scholarhub.ui.ac.id/ijiebs/vol1/iss1/1