DETERMINANTS OF INVESTOR BEHAVIOR IN GREEN SUKUK ON THE INDONESIAN ISLAMIC DIGITAL BANKING PLATFORM TOWARDS SUSTAINABLE FINANCE ASEAN SUMMIT 2023

Abstract

As the leader of the 2023 ASEAN Summit, Indonesia has put forward one of itsideas, namely, regarding sustainable finance. One of the sustainable finance schemesoffered by the government is green sukuk. Islamic digital banking platforms in Indonesiainclude platforms that facilitate online purchases of green sukuk for investors. Individualdecision-making or intention in carrying out economic activities is often influenced byvarious factors, one of which is the Unified Theory of Acceptance and Use ofTechnology (UTAUT) model. This study aims to analyze the determinants of individualbehavior as investors in green sukuk investment through the Islamic digital bankingplatform in Indonesia. The study population consisted of the people of Central Java, anda sample of 125 respondents was selected using purposive sampling. Data analysis usingStructural Equation Modeling-Partial Least Square (SEM-PLS). The results showed thatEffort Expectancy and Social Influence had an insignificant effect and had a positiveand negative effect, respectively. Meanwhile, Facilitating Condition and PerformanceExpectancy have a positive and significant influence on Behavioral Intention.Keywords: green sukuk, sharia digital banking, sustainable finance, UTAUT