Economic Pragmatism over Religious Normativity: A Sentiment, Argument, and Emotion Analysis of Indonesian Muslim Discourse on Buy-Now-Pay-Later Services

Abstract

Introduction/Main Objectives: his study examines the factors influencing Islamic microfinance adoption intention among Micro, Small, and Medium Enterprises (MSMEs) in Malang City, focusing on Islamic financial literacy, Shariah attitude, and technology readiness. Research Methods: A quantitative approach with a causal-explanatory design was employed. The study involved 200 MSME owners or managers as respondents. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS software. Finding/Results: The results show that Islamic financial literacy, Shariah attitude, and technology readiness have positive and significant effects on Islamic microfinance adoption intention. Islamic financial literacy is the most dominant factor, while the proposed model explains 44.1% of the variance in adoption intention. These findings indicate that adoption intention is influenced by financial knowledge, Shariah-oriented values, and digital readiness. Conclusion: Islamic microfinance adoption is driven by financial literacy, Shariah attitude, and technology readiness.