Comparing the intention to use dinar and dirham between Malaysian and Indonesian consumers

Abstract

The currency fluctuation, global financial crisis and decreasing value of money have prompted the practice of using gold dinar and silver dirham for investment, savings, hajj, paying zakat, and dowry as well as buying and selling. Growth of dinar and dirham usage in Malaysia and Indonesia has been an argumentative issue in some discussions. These two countries also cooperate to re-introduce dinar and dirham back to the community under World Islamic Mint Organization. The purpose of this study is to investigate whether differences on consumers’ intention to use dinar and dirham as a medium of exchange exists between Malaysia and Indonesia. This study used self-administered questionnaire and online questionnaire distributed throughout Klang Valley and Jakarta. Based on adaptation of the Theory Reasoned Action (TRA), three factors were proposed, which are attitude, subjective norm and religiosity. Data were collected from 102 Malaysian and 110 Indonesian consumers and analyzed using multiple regression analysis with SPSS version 19. Findings show there is significant and positive impact of attitude on customers’ intention in Malaysia and Indonesia. Subjective norm and religiosity show positive impact on customers’ intention to use dinar and dirham, but this study fails to prove the presence of significant relationship between these two independent variables with intention. The findings however show generous understanding on customers’ intention to use dinar and dirham and its antecedent in the context of dinar and dirham usage in Malaysia and Indonesia.