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Will Muslims integrate an Islamic accounting principle (zakat) into the financial paradigm reshaped by cryptocurrencies? Insights into cryptocurrencies holder perspectives

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dc.contributor.authorSaeed Awadh Bin-Nashwan
dc.contributor.authorAbdelhamid Elsayed A. Ismaiel
dc.contributor.authorIsmail Mohamed
dc.contributor.authorAnas Rasheed Bajary
dc.contributor.authorMohammed Mahdi Obaid
dc.contributor.authorAishath Muneeza
dc.date.accessioned2025-01-27T04:50:04Z
dc.date.available2025-01-27T04:50:04Z
dc.date.issued2024
dc.description.abstractMuslim engagement with cryptocurrencies (CC) raises fundamental questions rooted in religious faith: How should Muslims integrate Islamic Accounting principles like zakat into this new and rapidly evolving financial paradigm? Thus, it is essential to understand CC holders' perceptions thoroughly and whether they are willing to pay zakat using crypto assets. This research aims to explore factors influencing Muslim CC holders' intention to pay zakat on CC, emphasizing financial risk, theory of planned behavior (TPB) constructs and Shariah compliance's moderating role. This attempt uses a quantitative approach through a cross-sectional research design, using purposive sampling to gather data from Muslim CC holders. An extended theory of planned behavior (ETPB) model is applied to comprehensively analyze the key factors influencing intentions to pay zakat on CC. SmartPLS software is used to generate meaningful findings. The study finds that financial risk associated with CC exerted a negative influence on TPB constructs, attitude (ATT), social norms (SN) and perceived behavioral control regarding zakat on CC (PBC). However, ATT and PBC positively shaped holders' intention to pay zakat on CC. Interestingly, Shariah compliance-moderated interactions of TPB constructs on payment intentions were statistically significant. With the rise of CC, a profound transformation is underway in the financial landscape. As this evolution unfolds, it becomes increasingly essential for stakeholders to understand how zakat could fit into such a new and rapidly evolving paradigm. A pioneering effort was made in this study by exploring Muslim CC holders' intentions to fulfill zakat obligations, bridging a significant gap in the literature.en_US
dc.identifier.citationBin-Nashwan, S. A., Muneeza, A., Ismaiel, A. E. A., Mohamed, I., Bajary, A. R., & Obaid, M. M. (2024). Will Muslims integrate an Islamic accounting principle (zakat) into the financial paradigm reshaped by cryptocurrencies? Insights into cryptocurrencies holder perspectives. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-04-2024-0201en_US
dc.identifier.issn1985-2517
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4160
dc.languageEnglish
dc.language.isoengen_US
dc.publisherEmerald Publishing Limiteden_US
dc.sourceSEDONA
dc.subjectFinancial risken_US
dc.subjectIslamic accountingen_US
dc.subjectZakaten_US
dc.subjectTheory of planned behaviouren_US
dc.subjectShariah complianceen_US
dc.subjectCryptocurrenciesen_US
dc.titleWill Muslims integrate an Islamic accounting principle (zakat) into the financial paradigm reshaped by cryptocurrencies? Insights into cryptocurrencies holder perspectivesen_US
dc.typeJournal Articleen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic wealth managementen_US
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication.latestForDiscovery81014255-5cb8-46bc-ad81-bf6d8a3a0702
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