The Relationship between Age and Level of Income with Understanding of Islamic Digital Banking

Abstract

The rapid growth of information and communication technology development has driven the Islamic banking and finance industry to digitalize all transactions and Islamic banking products to go fully online. However, there is a hindrance in developing Islamic digital banking which is the lack of understanding about Islamic digital banking among Malaysia community from different age and level of income. This study aims to investigate the relationship between age and level of income of Malaysian community with the level of knowledge about Islamic digital banking. This study employed a quantitative survey questionnaire of 100 respondents. The Statistical Product and Service Solutions (SPSS) software version 27 has been used in this study in analysing the data through descriptive analysis. The general finding of this study showed that the young generation and people with lower income have more intention to adopt this new application compared to the older generation and people with higher income. By analyzing these relationships, the research could help Islamic banks tailor their services and products to various demographic groups, enhancing accessibility and understanding. Additionally, the findings might inform policymaking to create a more inclusive financial system, particularly in predominantly Muslim countries. Overall, the study appears to connect the fields of demographics, technology, economics, and cultural studies, potentially providing essential insights for the development and growth of Islamic digital banking.