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DETERMINANTS OF ISLAMIC HOME FINANCING SELECTION: A STUDY IN KUALA LUMPUR
BY NURUL LABANIHUDA ABDULL RAHMAN
Research Paper Submitted to Othman Yeop Abdullah Graduate School of Business,
Universiti Utara Malaysia, in Partial Fulfillment of the Requirement for the Master in Islamic Finance and Banking
b I
D
Calon untuk ljazah Sa jana I (Candidate for the degree 00
r \
-man Yeup Abdulleh Graduate School of Business
Universlti Utara Malaysia
\ /'
PERAKUANKERJAKERTASPROJEK (Certification of Project Paper)
Saya, mengaku krtandatangan, rnemperakukan bahawa (I, the undersigned, cediiled thet) NURUL LABANIHUDA BINTI ABDULL RAHMAN (814585)
blah mengemukaken kerbs PIC#& yang bertplSuk
I (has pres- h M e r pp@ct~t ! r d fhe folmhg fiUe)
DETERMINANTS OF BtAMIC HOME FINANCING SELECTION: A STUDY IN KUAlA LUMPUR
Seperti yang ternatat di muka surat tajuk dan kulit kertas projek (as it appears on fhe Me page and front cover of fhe project paper)
Bahawa keftas projek tersebut boleh diknma dad segi bentuk serta kandungan dan meliputi bidang ilmu dengan memuaskan. (fhd the p@ect paper accepfable in the form and content and thaf a safisfacfory knowledge of fhe field is covered by the projeci paper).
1s JUNE 2014
PERMISSION TO USE
In presenting this research paper in partial fulfillment of the requirements for a Post Graduate degree from Universiti Utara Malaysia (ULIM), I agree that the University Library makes a freely available for inspection. I further agree that permission for copying of this research paper in any manner, in whole or in part, for schoIarly purposes may be granted by my supervisor or, in their absence, by the Dean of Othman Yeop Abdullah Graduate School of Business. It is understood that any copying or publication or use of this research paper or parts of it for financial gain shall not be allowed without my written permission. It is also understood that due recognition given to me and to the Universiti Utara Malaysia in any scholarly use which may be made of any material for my research paper.
Request for permission to copy or to make other use of materials in this research paper, in whole or in part should be addressed to:
Dean of Othman Yeop Abdullah Graduate School of Business Universiti Utara Malaysia
06010 UUM Sintok
ABSTRACT
IVowadays, household in Kuala Lumpur are unable to purchase a house at the market price because they have to face many difficulties. They need to undergo lot of procedures and conditions applied to obtain loan from the financial institution to support their affordability to buy a house. This research aims to investigate the determinants which influence the customer in choosing Islamic home financing including attitude, subjective norms, pricing, religious obligation, government intervention and service provision. Samples were taken from 150 respondents who have experienced purchasing house in Kuala Lumpur. The methodology used in this research is one way ANOVA, t- Test, Pearson Coefficient and Multiple Regression. Result of this study shows there is significant relationship between attitude, religious obligation, and service provision between Islamic homes financing selection. Thus, this research provides useful information to community by increasing their level of confidence towards Islamic home financing. From this study, the researcher also suggests bank managers to improve several factors such as marketing, operational and customer service in order to attract customers purchasing their products. Finally, government intervention is vital in creating new policies, to control the house prices and provide variety of scheme in order to help the household to buy their own house.
Keywords: Islamic home financing, attitude, subjective norm, pricing, religious obligation, government intervention and service provision.
ABSTRAK
Pada masa kini, penduduk di Kuala Lumpur tidak dapat membeli rumah pada harga pasaran dan menghadapi kesukaran seperti prosedur dan syarat yang perlu dipatuhi bagi mendapatkan pinjaman daripada institusi kewangan untuk menyokong kemampuan mereka membeli sebuah rumah. Kajian ini bertujuan untuk mengkaji penentu yang mempengaruhi pelanggan dalam memilih pembiayaan perumahan secara Islam termasuk sikap, norma berbentuk subjektif, harga, kewajipan memenuhi tuntutan agama, campur tangan kerajaan dan penyediaan perkhidmatan. Sampel diambil daripada 150 responden yang mempunyai pengalaman dalam membeli rumah di Kuala Lumpur. Metodologi yang digunakan dalam kajian ini adalah "ANOVA", "t-test", "Pearson Correlation" dan "Multi Regression". Hasil kajian ini menunjukkan bahawa terdapat hubungan yang signifikan antara sikap, kewajipan memenuhi tuntutan agama dan penyediaan perkhidmatan dengan pembiayaan perumahan secara Islam. Oleh itu, penyelidikan ini memberi maklumat yang berguna kepada masyarakat dalam meningkatkan tahap keyakinan mereka terhadap pembiayaan perumahan secara Islam . Kajian ini juga mencadangkan bahawa pengurus bank perlu memfokuskan beberapa faktor seperti pemasaran, operasi dan perkhidmatan pelanggan untuk menarik pelanggan membeli produk mereka. Akhir sekali, campur tangan kerajaan dengan mewujudkan dasar baru yang lebih sesuai, mengawal harga rumah serta menyediakan pelbagai skim juga penting dalam membantu isi rumah untuk membeli rumah yang mampu mereka miliki.
Kata Kunci: pembiayaan perumahan secara Islam, sikap, norma berbentuk subjektif, harga, kewajipan memenuhi tuntutan agama, campur tangan kerajaan, penyediaan perkhidmatan.
ACKNOWLEDGEMENT
In the name of Allah, the Most Gracious, the Most Merciful
Firstly, I would like to express my gratefulness to Allah Almighty. With the help and opportunity given to me to be able to finishing this research paper.Alhamdulil1ah.
Besides that, I also want to express again a grateful appreciation to my supervisor. Dr. Selamah Maamor for giving me the invaluable guidance, insights, moral support and the direction throughout the whole process of completing this research paper. Secondly, my special appreciation is also due to my respectable advisor, Assoc. Prof. Dr. Abu Bakar Hamed for his professional and untiring guidance from the beginning of the study until the end of this report. His valuable comments, suggestions, academic support and his advice have been instrumental guidance in finalizing this report.
Moreover, the credit is also given to my beloved parents, Abdull Rahman Bin Abdul Rahim and Nuwariah Bt Abdul Shukor and family who have assisted me in terms of moral support. Their understanding has allowed me to carry out my thesis in a free pressure environment and financially supports my study from the starts till the end,
Last but not least to all my fellow friends and classmates who never give up giving me their opinion, encouragements and enthusiasm. Thank you very much and best of luck to all. I would like to thank the respondents of this study as they have participated in my surveys. May Allah S.W.T reward the kindness of everyone that I mentioned above and those that my mind excaped.
TABLE OF CONTENT
CERTIFICA'TION OF RESEARCH PAPER ... . . . . . . . . . ... ... ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..... .. ii
. . . I'ERMlSSION TO USE 111
ARSTRACI' ................................................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................... iv
ABSTRAK .. .. ... . . ... ... ..... ... .. ... ... ...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , , . v
ACKNOWLEDGEMENT .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . , . . , . . . , . . , . . . . . . . . , . . , . . , , . . . . . . . . . . . . . . . . . . vi
'TABLE OF CONTENT .......... vii
LIST OF TABLES ......................................................................................................... x
LIST OF FIGURES ........................................................................................................ xi
LIST OF ABBREVIATIONS xii
CHAPTER ONE : INTRODUCTION ........................................................................ 1
I . 1 Background of Sti~dy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
1.2 Proble~n State~nent . . . . . . 6
1 .3 Reseal.ch Questions ....... ... .. .. . ..... .. .... ... .. . .... .... . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
1.4 Research Objectives .............. . . . ................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
. . .. 1 .5 S~gn~f~cance of the Study .. ...... ..... ... .. ... ... . . ... ... ..... ... . . . , . . . . . , . . . . . . . . . . . . 13
I .6 Scope of the Study .......................... .......................................................... ................ ..... .. 14
1 .7 Definitioi~ of Key Tenns ....... ... .. ... ... .... . . . . . . . . . . . . . . . . . . . . . . . 15
1 .8 Organization of the Study ...... ...... . . ... ... .... ............. . . . . . . , , . . . . . . . . . . . . . . . . . . . . . . 17
CI-IAPTER TWO : LITERAT1!KE REVIEW. . . . . . . . . . .. . .. . . . . . . . . . . .. . ... . . . . . . . . . . . . . . . . . 19
2.1 introdi~ction .. ..... .. ... ... . . ... ... ..... ... ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
2.2 Theoretical underpinning of Study. . . . .. .... .. . .. . .. . . .. . ........ ..... .. .... .. ........ ... ..... .,. ..... ... ... .. ... .. ..20
2.3 Overview of Islainic hoine f nancing selection .................. 22
2.3 Review 011 factors influence customer selection ..... 23
2.4.1 Demographic Factors ............................................................................................... 24
......................................................................................... 2.4.2 Attitude 26
2.4.3 Subjective Norm .................................................................................................... 27
2.4.4 Pricing ............................................................................................................... 29
2.4.5 Religious Obligation ............................................................................................... 32
2.4.6 Government Intervention ........................................................................................... 34
2.4.7 Service Provision ....................................................................................................... 36
.................................................................................................................... 2.5 Conclusion 39
CHAPTER THREE : METHODLOGY ...................................................................... 40
3.1 Introduction ............................................................................................................... 41
.......................................................................................................... 3.2 Research Design 41
3.3 Theoretical Framework ..................................................................................................... 41
................................................................................................. 3.4 Research Hypothesis -42
........................................................................ 3.5 Measurement and validity of Variables 44
................................................................................................... 3.6 Reliability of Variables 50
................................................................................... 3.7 Data Collection -52
3.8 Pilot Study .................................................................................................................... 55
................................................................................................................ 3.9 Normality Test 56
........................................................................................................... 3.10 Data Analysis 56
........................................................................................ 3.1 1 Conclusion 60
CHAPTER FOUR : DATA ANALYSIS ..................................................................... 62
.................................................................................................................... 4.1 Introduction 62
......................................................................... 4.2 Respondent Backgrounds 63
................................................... 4.2.1 Level of Selected Demographic Factors 66
viii
4.3 The Differences Between Demographic Factors and Islamic home financing selection.68
4.3.1 Differences between Gender and Race versus Islamic home financing selection ... 69
4.3.2 Differences between selected demographic factors versus Islamic home financing
selection ................................................................................................. 71
4.4 The Relationship Between the determinant factors and Islamic home financing
selection .................................................................................................. 72
4.5 The influence of the determinants factors on Islamic home financing
selection ............................................................................................................................ 74
............................................................................................................. 4.6 Conclusion 79
CHAPTER FIVE : DISCUSSION AND RECOMMENDATIONS ................................ 80
5.1 Summary of finding ..................................................................................................... 80
5.2 Contributions and Implications of the study .................................................... 82
5.2.1 Theoretical Contributions .................................................................. -82
5.2.2 Policy Implications ........................................................................... 83
5.3 Limitations and Recommendations for Future research ........................................... 84
REFERENCES ................................................................................................................... 86
APPENDIX A : QUESTIONNAIRE ................................................................ 91
.............................. APPENDIX B : NORMALITY TEST AND LINEARITY TEST 99
......................... APPENDIX C : RELIABILITY TEST AND FACTOR ANALYSIS 114
..................................................... APPENDIX D : DESCRIPTIVE ANALYSIS 123
.......................................................... APPENDIX E : T-TEST AND ANOVA 127
.......... APPENDIX F : PEARSON CORRELATION AND MULTIPLE REGRESSION I33
LIST OF TABLES
Table 1.1 : List of lslamic Home Financing product offered by lslamic
Bank In Malaysia ....................................................................... 5
Table 3.1 : Theoretical Framework of selection towards Islamic home financing.. ..... .42
Table 3.2 : The measurement of Variables.. ................................................. ..48
Table 3.3 : Rotated Component Matrix for the Variables in Factor Analysis .............. 49
Table 3.4 : Cronbach's Alpha Values for the Variables.. .................................... -5 I
.................................... Table 3.5 : The Measurements of Questionnaire Design.. 52
Table 3.6 : Summary of Data Analysis Techniques
......................................................... Table 4.1 : Profile of the Respondents.. .64
Table 4.2 : Level of selection and Factor of Respondent to select Islamic Home
........................................................................... Financing.. ..67
Table 4.3 : The Differences between gender towards Islamic Home Financing
............................................................................. Selection.. 69
Table 4.4 : The Differences between demographic towards selection to choose Islamic
.................................................................. Home Financing.. ..70
Table 4.5 : The Differences between demographic factors towards selection to choose
............................................................. Islamic Home Financing 72
Table 4.6 : Result of Pearson Correlation between Islamic home financing selection and
............................................................. independent variable.. ..73
Table 4.7 : Result of Multiple regression analysis for determinant factors on Islamic
........................................................ Home Financing Selection.. 75
LIST OF FIGURES
Figure 1.1 : Housing unit approved for construction, 2012.. ................................. .7
Figure 1.2 : Outstanding housing loan in Malaysia.. ........................................ ..8
Figure 1.3 : Level of Urbanization by State Malaysia, 2010 ................................. 10
Figure 2.1 : Theory of Reasoned Action (TRA). .............................................. .2 1
Figure 2.2 : Performance dimensions of bank branches. ...................................... 37
LIST OF ABBREVIATIONS
BB A
MM
BNM
1B1
TRA
TPB
DP
GDP
BIMB
PRIMA
Bai Bithaman Ajil
Musyarakah Mutanaqisah
Bank Negara Malaysia
Islamic Banking Institutions
Theory Reasoned Action
Theory of Planned Behaviour
Diminishing Partnership
Gross Domestic Product
Bank Islam Malaysia Berhad
l Malaysia Housing Programme Corporation
xii
CHAPTER ONE
INTRODUCTION
1.1 Background of Study
The developnlent of Islan~ic banking and iinance in Malaysia started since 1983.
Bank Islanl Malaysia Berhad (BIMB) is the first Islamic bank which introduced
Islamic products to public. During this stage, BIMB introduce several products that
compliance with Shariah si~ch as Murahahah, /jarah, Bai Bilharnun Ajil and others.
Moreover, in 201 0, Bank Negara Malaysia has set target of 20 per cent of all deposits
and financing in the banking industry. In addition, the Islamic Banking products have
their own framework and demand by the customer to the financing products as it is
higher compared to conventional banks (Amin, 2008).
Islamic Home Financing
Recently. most of the Islamic banking institutions offer lslamic home financing.
"Islamic mortgage providers" refers to the financial institution that offers Islamic
home financing using the Shariah principles such as Bai Bithaman Ajil (BBA) and
Mushurakah Mulunaqisah or known as Diminishing Partnership; however it is varied
with regard to their pricing policies (Haron et al., 1994)
The contents of
the thesis is for
internal user
only
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APPENDIX A
QUESTIONNAIRE
Pusat Pengajian Perniagaan Islam ISLAMIC BUSINESS SCHOOL &Lyl d L V 1 Z ~ J ! &$s Universit i U ta ra Malaysia
I
Dear Respondents,
I am Nurul Labanihuda Bt Abdull Rahman, student of Master in Islamic Finance and Banking (MIFB) at present conducting a research on "Determinants of Islamic Home Financing Selection: A Case Study in Kuala Lumpur". This questionnaire is divided into THREE (3) parts, namely:
Part A : Respondent's Background Part B : Information about Home Financing Part C : Perception Towards Islamic Home Financing
All of the information and respondents identity will be kept strictly confidential and will be use for academic purpose only. Thank you very much for your time and cooperation.
Kepada Responden,
Saya, Nurul Labanihuda Bt Abdull Rahman, pelajar tahun akhir Saijana Kewangan dun Perbankan Islam sedang membuat satu kajian berkenaan "Penentuan terhadap pemilihan Pembiayaan Perumahan secara Islam : Kajian Di Kuala Lumpur". Soul selidik ini terbahagi kepada TIGA bahagian utama iaitu:
Bahagian A:Latar Belakang Responden Bahagian B:Maklumat tentang Pembiayaan Perumahan Bahagian C:Pandangan terhadap Pembiayaan Perumahan
secara Islam.
Segala maklumat adalah sulit dun akan digunakan untuk tujuan akademik sahaja. Terima kasih di atas keijasama anda. Thank you/ Terima Kasih.
PART A : RESPONDENT'S BACKGROUND I
BAHAGIAN A:LATAR BELAKANG RESPONDEN
Please tick (4) your answerlSila tandakan (4) jawupan anda.
1 . Gender IJantina MalelLelaki
4. Marital statuslStatus Perkahwinan SinglelBujang 0 Married1 Berkuhwin 0 WidowlJanda@WidowerlDuda 0
5. Highest level of educationlTahap Pendidikan Tertinggi BachelorIIjazah DiplomalDiploma SPM SRPIPMR Primary SchooV Sekolah Rendah
6. Working sectorlSector pekerjaan Public sectorlSektor Kerajaan 0 Self-employedl Bekerja Sendiri 0 Private sectorlSektor Swasta
7. Personal income per monthlPendapatan bulanan:
8. Household expenses per month1 Perbelanjaan Isi Rumah bulanan:
PART B : INFORMATION ABOUT HOME FINANCING
I - BAHA GIAN B: MA KL UMA T TENTANG PEMBIA YAAN PER UMA HAN
2a. Source of financinglsumberpembiayaan: 7 2b. Amount/ Jumlah: 2c. Financing PeriodlTempoh pinjaman:
T 2d. Distance from lending Institutions1 Jarak dari institusipinjaman:
I 2e. Level of satisfaction of service offered1 Tahappuas hati terhadapperkhidmatan yang
7' ditawarkan:
I ( Strongly disagree I Disagree I Moderate Agree ( Strongly Agree 1 I
PART C : PERCEPTION TOWARDS ISLAMIC HOME FINANCING
7
em BAHAGIAN C: PANDANGAN TbRHADAP PEMBIAYAAN PERUMAHAN SECARA ISLAM
Please tick (4) your answer according to the scale outline belowlSila tandakan (4) jawapan anda berdasarkan skala di bawah:
1 Tidak setuju
2
Strongly disagree 1 Disagree 1 Moderate
1
I
1 3 1 I feel choosing lslamic home financing is beneficial. I I I
/ 3 1 4 1 5 /
Sederhana 3
Agree
I feel choosing lslamic home financing is a wise idea. Saya merasa memilih pembiayaan rumah secara Islam adalah idea yang b ijak.
2
Saya merasa melnilih pcrnhiuyulm r~~nzulz secara Islu~r IILJIIIUIZ hennar!faut.
Strongly Agree
Setuju 4
I like to choose lslamic home financing. Suyu suku mcmilih pernhiwuun rzlrnuh secara Isiorn.
Sangat setuju 5
4
1 2 3 4 5
---- I feel choosing lslamic home financing is useful. Saya merasa mernilih pernhiaj~oan rurnal? secara Islaln adulul? herguna.
1 2 3 4 5
I feel Islamic home financing is one of Saya merasa penzhiciyuu~z ?.urnoh terhuikperhunkun Lslcinz.
II. SUBJECTIVE NORMINORM SUBJEKTIF
Most people are recommended me to apply Islamic home financing. Kebanyakan orang mencadangkan saya untuk memohon pembiuyaan rumah secara Islam. 1 Most people who are important to me would think that choosing Islamic home financing is a useful. Kebanyakan orang yang penting kepada saya akan her-kir bahawa memilih pembiayaan rumah secam Islam adalah berguna.
My family influence me to choose Islanlic home linaticing. Keluarga mempengaruhi saya untuk mcrnilih prrnbiuj~uun runzuh .secara Islum. 7-
1
My friends influence me to choose Islamic honie tinancing. Rakarz-rukun rnenzpcngur~llzi su~lu unfilk nzenzililz pcmhic~yuurz rumuh securu Islam.
111. PRICINGIHARGA 1
1
It is expected by others that I should choose Islamic home financing. Iu tlijnngka oleh orang lair2 yc1n.g suvu yerhl rnemilil~ pernhiuvrrun rzmzcrh secara Lsle~ln.
- 1
Service charge for Islamic home financing are higher. C'ujperkhidtnalutz yemhic~yciun peruniuhcrn secSurvr Islci~n duluh lebih tinggi.
1
Islamic home financing offered by Islamic bank is lower. Pembiayaan perlrmahan secara Islam yang ditmarkan oleh Bank Islam adalah rendah.
1
Penalty for Islamic home financing is higher. Penalti bagi pembiayaan perurnahan secara Islam adalah tinggi.
1
Monthly payments for Islamic home financing are higher. Buyaran bulanan untukpembiuyaan rumalr secara Islam adalah tilzggi.
1
Islamic home financing offers unfair pricing Pembiayaan rumah secara Islam menawarkan harga yang tidak adil.
1
Islamic home financing not offer full financing for Islamic home financing.
1
Pembiayaan rumah secara Islam tidak menawarkan pembiayaan yang penuh.
IV. RELIGIOUS OBLIGATION1 KE WAJIPAN AGAMA
17
18
19
Islamic home financing is compliance with Islamic Law. Pembiayaan rumah secara Islam adalah berlandaskan undang-undang Islam.
Islamic home financing is free from interest. Pembiayaan rumah secara Islam adalah bebas daripada riba.
20
Islamic home financing is free from fraud. Pembiayaan rumah secara Islam adalah bebas daripada penipuan.
Islamic home financing is based on Islamic principle business implementation. Pembiayaan rumah secara Islam adalah berdasarkan aplikasiprinsip perniagaan secara Islam.
21
I I V. GOVERNMENT INTERVENTIONIPENGLIBATAN KERA JAAN 1 I I I I I
1 2
1 2
Islamic home financing don't have any doubt in their transaction. Pembiayaan rumah secara Islam tidak mempunyai tranksaksi yang meragukan.
22
3 4 5
3 4 5
1 2 3 4 5
Islamic home financing is transparency and unambiguous in their transactions. Pembiayaan perumahan secara Islam adalah telus dun jelas dalam tranksaksi mereka.
23
24
1
Bank Negara Malaysia encourages using Islamic banking facilities. Bank Negara Malaysia menggalakkan penggunaan kemudahan perbankan secara Islam.
25
2 3 4
Bank Negara Malaysia always scrutinizes the move of Islamic banking operations. Bank Negara Malaysia selalu meneliti pergerakan dalam operasi perbankan Islam.
26
1 2
Bank Negara Malaysia encourages new innovations in Islamic banking operations. Bank Negara Malaysia menggalakan inovasi baru dalam operasi perbankan Islam.
3 4
1
The Malaysian Government provides incentives to the Islamic banking industry.
1
2
1
2
3
2
4
3
3
4 5
4 5
Kerajaan Malaysia menyediakan insentif kepada industri perbankan Islam.
The Malaysian Government provides guarantees the stability of Islamic finance industry. Kerajaan Malaysia menyediakan jaminan terhadap kestabilan dalam industri perbankan Islam.
V1. SERVICE PROVISIONIPEMBERIAN PERKHIDM TAN
The service officers are friendly and knowledgeable in lslamic home financing application. Pegawai-pegawai perkhidmatan adalah mesra dun berpengetahuan luas dalam aplikasi pembiayaan perumahan secara Islam.
The service officers give advices to choose housing developer for lslamic home financing. Pegawai-pegawai perkhidmatan memberikan bimbingan untuk saya memilih memilih pemaju perumahan bagi pembiayaan perumahan secara Islam.
The service off~cers are understood the needs and wants of their customers. Pegawai-pegawai perkhidmatan memahami keperluan dun kemahuan pelanggan mereka.
The service officers are providing fast and efficient services. Pegawai-pegawai perkhidmatan menyediakan perkhidmatan yang cepat dun cekap.
The service officers are providing easy approval for financing application. Pegawai-pegawai perkhidmatan menyediakan proses kelulusan yang mudah bagi permohonan pembiayaan.
The service officers are providing information on repayment method. . ~
Pegawai-pegawai perkhidmatan menyediakan maklumat tentang pembayaratl balik.
VII. SELECTION OF ISLAMIC HOME FINANCINGIPEMILIHAN TERHADAP PEMBIAYAAN PERUM HAN SECARA ISLAM
I choose Islamic home financing because of the product advantage. Saya memilih pembiayaan perumahan secara Islam kerana kelebihan produknya.
I choose Islamic home financing because it is completely compatible with my current situation.
Suggestion about Islamic home financing offeredlpandangan mengenai pembiayaan perumahan secara lslam yang ditawarkan.
36
37
38
39
I suggest/Saya cadangkan,
THANK YOU FOR YOUR COOPERATION
TERIMA KA SIH Dl A TAS KERJASAW ANDA
Says memilih pem biayaan perumahan secara Islam kerana ia sangat serasi dengan keadaan semasa saya.
I choose Islamic home financing because it would be good for me. Saya memilih pembiayaan perumahan secara Islam kerana ia lebih baik untuk saya.
I choose Islamic home financing because it would be peace of mind to me. Saya memilih pembiayaan perumahan secara Islam kerana saya akan mendapat ketenangan fikiran.
I choose Islamic home financing because I feel comfortable with their services provided. Saya memilih pembiayaan perumahan secara Islam kerana s q a berasa selesa dengan perkhidmatan yang diberikan.
I will introduce Islamic home financing to my friends. Saya akan memperkenalkan pembiayaan perumahan secara Islam kepada rakan-rakan saya.
1 2
1
1 2
1 2
2 3
3 4 5
4
3 4 5
3 4 5
5
APPENDIX B
NORMALITY TEST
AND
LINEARITY TEST
(a) Normality Test For Islamic Home Financing Selection
Descriptives
Case Processing Summary
Selection Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Kurtosis
Selection
Statistic
3.731 1
3.6054
3.8568
3.7840
Std. Error
,06361
Cases
Tests of Normality
Total Valid
N
150
N
150
Missing
Selection
Percent
100.0%
Percent
100.0%
N
0
a. Lilliefors Significance Correction
Shapiro-Wilk
Percent
.O%
Statistic
,921
~olmogorov-Smirnova
df
150
Sig.
,000
Statistic
.I 52
Sig.
,000
df
150
Histogram r
k a n = 3.73 Std. Dev. = ,779 N=150
1 .00 2.00 3.00 4.00 5.00
rneansselection
Normal Q-Q Plot of meansselection
I I I I I I I 0 1 2 3 4 5 6
Observed Value
Jb) Normalitv Test For Attitude
Descriptives
Case Processing Summary
Attitude Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Attitude
Kurtosis
Statistic
4.0280
3.9006
4.1554
4.0837
4.0000
,624
,78988
1 .oo 5.00
4.00
1 .oo -.850
1.118
Cases
Std. Error
.06449
Valid
N
150
Tests of Normality
Percent
100.0%
Missing
N
0
Total
Attitude
Percent
.O%
N
150
a. Lilliefors Significance Correction
Shapiro-Wilk
Percent
100.0%
Kolmogorov-Smirnova
Sig.
,000
Statistic
,921
Sig.
,000
df
150
Statistic
,113
df
150
Histogram
b a n = 4.03 Sld. Dev. = .79 N = 150
meanatt
Normal Q-Q Plot of meanatt
Observed Value
{c) Normality Test For Subiective Norm
Descriptives
Sub. Norm Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Kurtosis
Case Processing Summary
Tests of Normalitv
Sub. Norm
Statistic
3.5867
3.4693
3.7040
3.61 11
3.6000
,529
,72747
1.40
5.00
3.60
.80
-.523
,578
Std. Error
,05940
Cases
I I Statistic I d f I Sig. ( Statistic 1 df I Sig. I I I I I I
Valid
I
a. Lilliefors Significance Correction
N
150
Kolmogorov-Smirnova
Percent
100.0%
Missing
Shapiro-Wilk
N
0
Total
I I I I I
Percent
.O%
N
150
Percent
100.0%
Wan = 3 Std. Dev. N = 150
meansub
2-
z 8 0- z u 0 C 0 0 0.
3 2-
-4-
Normal Q-Q Plot of meansub
I I I I I 1 2 3 4 5 6
I
Observed Value
/d) Normality Test For Pricing
Case Processina Summarv
meanpricing
Descri ptives
meanpricing Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Kurtosis
a. Lilliefors Significance Correction
Cases
Tests of Normality
Statistic
3.0256
2.8908
3.1603
3.0290
3.0000
,697
,83495
1.17
5.00
3.83
1.04
-. 128
-.354
Valid
Std. Error
.06817
.I98
,394
meanpricing
N
150
Shapiro-Wilk
Percent
100.0%
Missing
Statistic
.979
Kolmogorov-Smirnova
N
0
Total
Statistic
,094
Percent
.O%
N
150
df
150
Percent
100.0%
Sig.
,020
df
150
Sig.
,002
Histogram
Wan = 3.03 Std. Dev. = ,835 N= 150
meanpricing
-3
I I 1 I I I I 0 1 2 3 4 5 6
Observed Value
Je) Normalitv Test For Relipious Oblipation
Case Processing Summary I I I
Descriptives
Religious
Religious Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Kurtosis
Statistic
3.871 1
3.7456
3.9967
3.9130
4.0000
,606
.77819
1 .oo 5.00
4.00
1.17
-.735
,885
Cases
Std. Error
,06354
.I98
,394
Valid
a. Lilliefors Significance Correction
N
150
Tests of Normality
Percent
100.0%
Missing
N
0
Total
Religious
Percent
.O%
N
150
Shapiro-Wilk
Percent
100.0%
Statistic
.941
Kolmogorov-Smirnova
df
150
Sig.
,000
Statistic
,139
Sig.
.OOO
df
150
Histogram
Mean = 3.87 Std. Dev. = ,778 N = 150
1 .OO 2.00 3.00 4.00 5.00
meanreligious
I I I I I I I
I
0 1 2 3 4 5 6
Observed Value
Jf) Normality Test For Government Intervention
Case Processina Summarv
Descriptives
Govern.
Govern. Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Kurtosis
Statistic
3.6960
3.5812
3.8108
3.71 19
3.8000
,507
.71183
1.40
5.00
3.60
1.20
-.309
-.089
Cases
Std. Error
Valid
a. Lilliefors Significance Correction
N
150
Tests of Normality
Percent
100.0%
Missing
Govern.
N
0
Total
Percent
.O%
N
150
Percent
100.0%
Kolmogorov-Smirnova Shapiro-Wilk
Statistic
,969
Sig.
,000
Statistic
,112
df
150
df
150
Sig.
.002
Histogram
Wan = 3.70 Std. Dev. = ,712 N=150
meangov
Normal Q Q Plot of meangov
a Normality Test For Service Provision
Descriptives
meansewice Mean
95% Confidence Interval for Lower Bound
Mean Upper Bound
5% Trimmed Mean
Median
Variance
Std. Deviation
Minimum
Maximum
Range
lnterquartile Range
Skewness
Kurtosis
Case Processing Summary
Statistic
3.6333
3.5135
3.7531
3.6556
3.8333
,551
,74260
1 .oo 5.00
4.00
1.17
-.590
,917
meansewice
Std. Error
,06063
Cases
Tests of Normality
Valid
N
150
meansewice
Percent
100.0%
Missing
a. Lilliefors Significance Correction
Shapiro-Wilk
N
0
Total
Kolmogorov-Smirnova
Percent
.O%
N
150
Sig.
.OOO
Statistic
,946
Percent
100.0%
Sig.
.OOO
df
150
Statistic
.I56
d f
150
Histogram
meanservice
Normal Q-Q Plot of meanservice
1 Mean = 3.63 Std. Dev. = ,743
1 N= 150
Observed Value
APPENDIX C
RELIABILITY TEST
AND
FACTOR ANALYSIS
(a) Attitude
Reliability Statistics I I
Cronbach's
Alpha Based on I I I Cronbach's I Standardized I I Alpha Items I N of ltems
I I
9 (b) Subjective Norm
tPI
*LP
Most people who are
important to me would think
that choosing islamic home
financing is a useful
most people are
recommended me to apply
islamic home financing
my family influence me to
choose islamic home
financing
my friend influence me to
choose islamic home
financing
it is expexted by others that
i should choose islamic
home financing
Reliability Statistics
Scale Mean if
ltem Deleted
14.25
Cronbach's
Alpha
Item-Total Stat
Scale Variance
Cronbach's
Alpha Based on
Standardized
Items
if ltem Deleted
9.090
N of Items
ics
Corrected Item-
Total
Correlation
,671
Squared
Multiple
Correlation
,508
Cronbach's
Alpha if ltem
Deleted
,834
(c) Pricing
Item-Total Statistics
service charge for islamic
home financing are higher
islamic home financing
offered by islamic bank is
lower
penalty for islamic home
financing is higher
monthly payments for
~slamic home financing are
higher
islamic home financing
offers unfair pricing
islamic home financing not
offer full financing for islamic
home financing
Cronbach's
Alpha Based on
I Cronbach's 1 Standardized I I Alpha I ltems I N of ltems
I I
Scale Mean if
Item Deleted
14.93
Scale Variance
if ltem Deleted
17.974
Zorrected Item-
rota1
;orrelation
660
Squared
Multiple
Correlation
,517
Sronbach's
4lpha if ltem
3eleted
853
a
(d) Religious Obligation
Alpha Based on
Cronbach's Standardized
Alpha
,910
Items
,910
N of Items
6
*II (e) Government Intervention
Item-Total Statistics
Bank negara malaysia
encourages using islamic
banking facilities
bank negara malaysia
always scrutinizes the move
of islamic banking
operations
bank negara malaisa
encourages new
innovations in islamic
banking operations
the malaysian goverment
provides incentives to the
islamic banking industry
the malaysia government
provides guarantees the
stability of islamic finance
industry
Reliability Statistics
I Cronbach's I Alpha Based on
Cron bach's I I Standardized
Alpha 1 ltems I N of Items I I
Jcale Mean if
tem Deleted
14.75
Scale Variance
if ltem Deleted
8.160
Corrected Item-
Total
Correlation
,750
Squared
blultiple
:orrelation
588
2ron bach's
4lpha if ltem
leleted
850
a
(f) Service Provision
Alpha Based on
Cronbach's Standardized
Alpha I N of ltems I I
Item-Total Statistics
the service officers are
friendly and knowledgeable
in islamic home financing
application
the service officers give
advices to choose housing
developer for islamic home
financing
the service officers are
understood the need and
wants of their customers
the service officers are
providing fast and efficient
services
the service officers are
providing easy approval for
financing application
he service officers are
providing information on
repayment method
Scale Mean if
ltem Deleted
18.16
Scale Variance
f ltem Deleted
14.256
~-
Corrected Item-
Total
Correlation
Squared
Vlultiple
:orrelation
567
2ronbach's
llpha if ltem
Ieleted
90 1
(g) Islamic Home Financing Selection
Reliability Statistics I I I I
Cronbach's
Alpha Based on
Cronbach's Standardized
Items N of Items
Item-Total Statistics
i choose islamic home
financing baecause of the
product advantage
i choose islamic home
finanicing because it is
completely compatible with
my current situation
i choose islamic home
financing because it would
be good for me
i choose islamic home
financing because it would
be peace of mind to me
i choose islamic home
financing because i feel
comfortable with their
sevices provided
i will introduce islamic home
financing to my friends
Scale Mean if
ltem Deleted
18.66
Scale Variance
f ltem Deleted
15.098
:orrected Item-
rota1
;orrelation
787
Squared
vlultiple
;orrelation
696
;ronbachls
4lpha if ltem
leleted
91 2
FACTOR ANALYSIS
1 1 Components I
KMO and Bartlett's Test
Islamic home financing is free from fraud
Islamic home financing is free from interest
Islamic home financing is based on Islamic principle
business implementation
lslamic home financing is transparency and unambiguous in
their transactions
lslamic home financing do not have any doubt in their
transaction
Islamic home financing is compliance with Islamic law
The service officers are understood the need of their
customers
The service officers are providing fast and efficient services
The service officers are providing easy approval for
financing application
'The service officers are providing information on
repayment method
The service officers give advices to choose housing
developer for Islamic home financing
The service officers are friendly and knowledgeable in
Islamic home financing application
Kaiser-Meyer-Olkin Measure of Sampling Adequacy.
Bartlett's Test of Sphericity Approx. Chi-square
df
,896
1260.740
66
APPENDIX D
DESCRIPTIVE ANALYSIS
Frequency Table for Gender
Gender
Frequency Table for Race
Racer
Valid Male
Female
Total
Frequency Table for Age
Acie
Frequency
77
73
150
Valid Malay
Others
Total
Percent
51.3
48.7
100.0
Valid Percent
86.7
13.3
100.0
Cumulative
Percent
86.7
100.0
Frequency
130
20
150
Cumulative
Percent
57.3
88.7
100.0
Valid 1
2
3
Total
Valid Percent
51.3
48.7
100.0
Percent
86.7
13.3
100.0
Cumulative
Percent
51.3
100.0
Frequency
86
47
17
150
-
Percent
57.3
31.3
11.3
100.0
Valid Percent
57.3
31.3
11.3
100.0
Frequency Table for Level of education
Frequency Table for Marital Status
Marital Status
Valid Single
WidowNVidower
Married
Total
Frequency Table for Working Sector
Level of Education
Frequency
65
2
83
150
Cumulative
Percent
48.0
69.3
96.7
1 00.0
Valid Bachelor
Diploma
SPMISTPM
SRPIPMR
Total
Valid Public
Private
Self Employed
Total
Percent
43.3
1.3
55.3
100.0
Frequency
72
32
41
5
150
Frequency
35
107
8
150
Valid Percent
43.3
1.3
55.3
100.0
Cumulative
Percent
43.3
44.7
100.0
Percent
48.0
21.3
27.3
3.3
100.0
Percent
23.3
71.3
5.3
100.0
Valid Percent
48.0
21.3
27.3
3.3
100.0
Valid Percent
23.3
71.3
5.3
100.0
Cumulative
Percent
23.3
94.7
100.0
(A) Frequency Table for Personal Income per month
1 Total
(B) Frequency Table for Household expenses per month
Personal Income per month
Frequency
99
39
12
150
LEVEL OF SELECTION AND FACTORS OF RESPONDENTS
Household expenses per month
Percent
66.0
26.0
8.0
100.0
Valid 1
2
3
Total
Descriptive Statistics
Valid Percent
66.0
26.0
8.0
100.0
Frequency
56
86
8
150
meansselection
meanatt
meansub
meanpricing
meanreligious
meangov
meanservice
Valid N (listwise) - - - ~
Cumulative
Percent
66.0
92.0
100.0
Percent
37.3
57.3
5.3
100.0
N
150
150
150
150
150
150
150
- 150
Valid Percent
37.3
57.3
5.3
100.0
Minimum
1 .OO
1 .OO
1.40
1.17
1 .OO
1.40
1 .OO
Cumulative
Percent
37.3
94.7
100.0
Std. Deviation
,77906
,78988
-72747
,83495
,77819
,71183
,74260
Maximum
5.00
5.00
5.00
5.00
5.00
5.00
5.00
Mean
3.731 1
4.0280
3.5867
3.0256
3.871 1
3.6960
3.6333
APPENDIX E
T-TEST AND ANOVA
(a) TEST OF DIFFERENCES BETWEEN GENDERS TOWARDS ISLAMIC HOME FINANCING SELECTION
Selection Equal variances
assumed
Equal variances
not assumed
Group Statistics
Independent Samples Test
Levene's Test for
Equality of
Gender
Selection Male
Female
ances I t-test for Equality of Me:
N
77
73
1s
Std.
Error
Differenc
e
,12751
12664
Sig.
.067
95% Confidence
Mean
3.6905
3.7740
Interval of the
t
-.655
-.659
Difference I
Std. Deviation
,87179
.67092
Std. Error Mean
,09935
,07853
df
148
142.085
Sig. (2-
tailed)
,514
,511
Mean
Difference
-.08350
-.08350
TEST OF DIFFERENCES BETWEEN RACE TOWARDS ISLAMIC HOME FINANCING SELECTION
Group Statistics
I Race N Mean Std. Deviation Std. Error Mean
Selection Malay
Others
130
20
3.7679
3.4917
.76601
,84028
.06718
.I8789
TEST OF DIFFERENCES BETWEEN DEMOGRAPHIC FACTORS TOWARDS lSLAMIC
HOME FINANCING SELECTION
ANOVA
Descriptives
rneansselection
Between Groups
Within Groups
Total
(B)Marital Status ANOVA
rneansselection
Sum of Squares
18.182
72.251
90.433
1
2
Total I 90.433 1 1 4 9 1
meansselection
df
27
1 22
149
3.9902 151 56 1 3.6689 1 4.3115 I ;:33 1 ;:6; 1 I :otal 1 1 :: 1 3.731 1 1 ,77906 62492 1 06361 3.6054 3.8568
N
86
47
Between Groups
Within Groups
Mean Square
,673
.592
Mean Square
1.514
,595
Maximum
5.00
5.00
Mean
3.6357
3.8121
Sum of Squares
3.028
87.404
F
1.137
F
2.547
df
2
147
Sig.
.310
Std.
Deviation
,84734
,67443
Sig.
,082
Std. Error
,091 37
,09838
Minimum
1 .OO
1.83
95% Confidence Interval for
Mean
Lower
Bound
3.4540
3.6140
Upper Bound
3.8173
4.0101
Descriptives
(C)Level of education
ANOVA
meansselection
Single
WidowMlidower
Married
Total
Descriptives
meansselection
N
65
2
83
150
Between Groups
Within Groups
Total
meansselection
Mean
3.5692
3.7500
3.8574
3.7311
Sum of Squares
5.335
85.098
90.433
Bachelor
Diploma
SPMISTPM
SRPIPMR
Total
Std.
Deviation
,65742
,35355
,85267
.77906
N
72
32
41
5
150
df
5
144
149
Std.
Error
.08154
,25000
,09359
,06361
F
1.806
Mean Square
1.067
.591
Sig.
,115
Mean
3.7523
3.8281
3.5854
4.0000
3.7311
Std.
Error
,09520
,13165
,11525
,42164
,06361
Std.
Deviation
,80782
,74474
,73798
,94281
,77906
95% Confidence Interval
for Mean
Minimum
2.00
3.50
1.00
1.00
Lower
Bound
3.4063
.5734
3.6712
3.6054
Maximu
m
5.00
4.00
5.00
5.00
Upper Bound
3.7321
6.9266
4.0436
3.8568
95% Confidence
Interval for Mean
Minimum
1 .OO
2.00
1 .OO
2.33
1 .OO
Lower
Bound
3.5625
3.5596
3.3524
2.8293
3.6054
Maximum
5.00
5.00
4.83
4.50
5.00
Upper Bound
3.9421
4.0966
3.8183
5.1707
3.8568
(D) Working sector
ANOVA
meansselection ~ -~ -
Between Groups
Within Groups
Total
Sum of Squares
1.737
88.695
90.433
df
3
146
149
Mean Square
,579
,608
F
,953
Sig.
,417
- APPENDIX F
4
e
PEARSON CORRELATION
* AND
MULTIPLE REGRESSION
PEARSON CORRELATION BETWEEN ISLAMIC HOME FINANNCING SELECTION
CORRELATION
Descriptive Statistics
meanpricing meansub
meanservice meangov
meansselection meanreligious
meanatt
N
150 150 150 150 150 150 150
Mean
3.0256 3.5867 3.6333 3.6960 3.731 1 3.8711 4.0280
Std. Deviation
,83495 ,72747 ,74260 ,71183 ,77906 ,77819 ,78988
Correlations
'. Correlation is significant at the 0.01 level (2-tailed).
'. Correlation is significant at the 0.05 level (2-tailed).
meansselection Pearson Correlation
Sig. (2-tailed)
N
meanatt Pearson Correlation
Sig. (2-tailed)
N
meansub Pearson Correlation
Sig. (2-tailed)
N
meanpricing Pearson Correlation
Sig. (2-tailed)
N
meanreligious Pearson Correlation
Sig. (2-tailed)
N
meangov Pearson Correlation
Sig. (2-tailed)
N
meansselection
1
150
,688
,000
150
,597
,000
150
-.Om
,286
150
,641
,000
150
,541
.OOO
150
meanatt
,688.'
.OOO
150
1
150
,578
,000
150
,001
.994
150
,527
,000
150
,369.'
,000
150
meansub
.597
.OOO
150
,578
,000
150
1
150
,051
,535
150
,516.'
,000
150
.511
,000
150
meanpricing
-.Om
,286
150
,001
.994
150
,051
,535
150
1
150
,003
,976
150
,033
,688
150
meanreligious
,641
.OOO
150
.527
,000
150
,516"
,000
150
,003
,976
150
1
150
,541
.OOO
150
meangov
,541
.OOO
150
,369..
,000
150
,511
,000
150
.033
.688
150
,541
,000
150
1
150
meanservice
,580
.OOO
150
.352
.OOO
150
,487
.OOO
150
-.I10
. I82
150
.540"
,000
150
.614
.OOO
150
MULTIPLE REGRESSION ANALYSIS TOEARDS ISLAMIC HOME FINANICNG SELECTION
Model summaryb
b. Dependent Variable: meansselection
Model
1
AN OVA^
Model
1 (Constant)
meanatt
meansub
meanpricing
meanreligious
meangov
meansewice
Model
1 Regression
Residual
Total
a. Predictors: (Constant), meansetvice, meanpricing, meanatt, meangov, meanreligious,
meansub
b. Dependent Variable: meansselection
R
.81 Oa
Standardized
Coefficients
Beta
a. Predictors: (Constant), meansetvice, meanpricing, meanatt, meangov, meanreligious, meansub
Sum of Squares
59.361
31.072
90.433
Unstandardized Coefficients
Sig.
,799
,000
,111
,134
,003
,132
,003
R Square
,656
B
-.074
,403
,116
-.070
,207
.I12
,211
df
6
143
149
Std. Error
,290
,063
,072
,047
,067
,074
,071
Adjusted R
Square
,642
Mean Square
9.893
.2 17
Std. Error of the
Estimate
,46614
Durbin-Watson
1.910
F
45.532
Sig.
,000"