Acceptability of cryptocurrency as an investment from the view of muslim investors in Malaysia
Cryptocurrency has made a notable contributions to the financial system in terms of technological advancement and it is widely used as an instrument to enhance the growth progress in developing countries. This can be seen by the fact that some communities already used cryptocurrency in merchant paym...
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| Format: | Thesis |
| Language: | eng eng |
| Published: |
2021
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| Subjects: | |
| Online Access: | https://etd.uum.edu.my/9676/1/s827369_01.pdf https://etd.uum.edu.my/9676/2/s827369_02.pdf |
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| Summary: | Cryptocurrency has made a notable contributions to the financial system in terms of technological advancement and it is widely used as an instrument to enhance the growth progress in developing countries. This can be seen by the fact that some communities already used cryptocurrency in merchant payments and it has become one of the leading commodities in investment trading. However, despite the benefits that cryptocurrency possesses and the contributions it has made to humankind, the digital asset still receives countless criticisms including from Islamic scholars. This research objective is to analyse various factors that influence the acceptability of cryptocurrency as an investment from the view of Muslim investors in Malaysia. This study was assessed with the help of a theoretical knowledge of Unified Theory of Acceptance and Use of Technology (UTAUT) that extended the present limited research on the acceptability of cryptocurrency as an investment from Islamic view. This research was further evaluated with the assistance of a conceptual framework involving cryptocurrency issues, Securities Commission Malaysia Shariah Advisory Council (SC SAC) resolutions and Islamic scholars’ opinions that are self-developed and inspired by several authors. This study used a qualitative approach as the research method and the data were collected through interviews. The data were later analysed, classified and arranged into themes and sub-themes which were developed through coding methods. Eventually, the research concluded with suggestions and recommendations that might assist Muslim investors in making good investment decisions and encourage the government to evaluate and improve the regulation of the transaction mechanism for the purpose of making financial services more easier and accessible for humankind especially for the Muslim community. |
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