Factors Influencing Technopreneurs’ Adoption of Islamic Banking Products

Abstract

As an alternative banking system, Islamic banking provides a variety of services throughout the world. These services are utilised by many types of bank customers, including technopreneurs, in their regular financial and banking transactions. Nevertheless, the knowledge and adoption rate of these services in Malaysia appears to be below expectations. This is due to issues such as confusion of information and ignorance about the Islamic bank’s marketing of banking products. In addition, most individuals will select the bank they perceive to be the most profitable and easy to use. Thus, this study was conducted to identify the knowledge of technopreneurs in Kelantan regarding Islamic banking products, to analyse the factors that influence technopreneurs in Kelantan to adopt Islamic banking products, and to assess the level of usage of technopreneurs towards Islamic banking products. Several interviewees were selected to participate in this study, where a qualitative approach and an interview method were employed. Furthermore, ATLAS.ti analysis software and thematic analysis method were used in this study. The results indicated that technopreneurs in Kelantan have just a moderate awareness of Islamic banking products. Furthermore, it has been emphasized that the adherence to Sharia principles, recognition of the benefits of utilizing Islamic banking, improved awareness, and educational initiatives are key factors that impact the decision of technopreneurs in Kelantan to utilize Islamic banking products. The utilisation rate of Islamic banking products among technopreneurs is high; yet, some of them do not comprehend the concept of Islamic banking in its entirety. In general, the surrounding population plays a crucial role in promoting awareness of Islamic banking products.