Determinants of Customer Usage Behaviour Toward Shariah-Compliant Digital Gold Savings: A Multigroup Analysis of Gender Differences

Abstract

This study examines the factors influencing the usage behavior of Shariah-compliant digital gold savings among Muslim users in Malaysia. By integrating the Theory of Planned Behavior (TPB), Technology Acceptance Model (TAM), and Maqasid al-Shariah Theory, the study model tests the effects of perceived behavioral control (PBC) and perceived ease of use (PEOU). Data were collected from 309 respondents through an online survey and analyzed using SmartPLS 4.1.0. The results indicate that PBC and PEOU have a significant positive effect on usage behavior explaining 59.2% of the variance. Multi-group analysis (MGA) also confirms significant differences based on gender. Furthermore, the study contributes to the existing literature by extending the application of Theory of Planned Behavior (TPB) and Technology Acceptance Model (TAM), within the context of Islamic fintech while demonstrating the relevance of Maqasid al-Shariah as a complementary theoretical perspective for explaining customers' adoption of Shariah-compliant digital financial services. These findings provide important implications for policymakers and Islamic financial institutions in strengthening the fintech ecosystem through the lens of wealth preservation (Hifz al-Mal).