EXPLORING THE DRIVERS OF ENTREPRENEURIAL INTENTIONS TO ADOPT ISLAMIC FINANCE IN UZBEKISTAN

Year 2025, Volume: 20 Issue: 1, 29 - 41, 01.07.2025

Alam Asadov , Rukhiddin Zayniddinov , Ramazan Yildirim

https://doi.org/10.54860/beyder.1605916

Abstract

Islamic finance in Uzbekistan has expanded through Islamic windows and leasing companies, yet accessibility remains limited. This study examines the key determinants shaping entrepreneurs' intentions to adopt Islamic finance, employing Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze data from an online survey conducted between February and April 2024. The results reveal that business support, perceived behavioral control, awareness and knowledge, and religious obligation all significantly influence Islamic finance adoption. Among these, business support and perceived behavioral control emerge as the strongest predictors, underscoring the importance of institutional backing and financial self-efficacy. These findings highlight the need for targeted financial literacy initiatives, regulatory reforms, and tailored Shari’ah-compliant financial solutions to facilitate broader adoption. The study provides valuable insights for policymakers, financial institutions, and regulators, emphasizing the role of business incentives and financial education in promoting Islamic finance among entrepreneurs.

Keywords

Islamic Financial Adoption , PLS-SEM; Entrepreneurial Intentions , Business Support , Perceived Behavioral Control , Financial Literacy , Regulatory Framework , Shari’ah Compliance

Supporting Institution

Istanbul Zaim University

Project Number

17th ICKEM

GİRİŞİMCİLERİN İSLAMİ FİNANSMANI BENİMSEME NİYETLERİNİN BELİRLEYİCİLERİ: ÖZBEKİSTAN'DAN KANITLAR

Abstract

Özbekistan'da İslami finans, İslami pencereler ve leasing şirketleri aracılığıyla genişlemiş olsa da erişilebilirliği sınırlı kalmaktadır. Bu çalışma, girişimcilerin İslami finansı benimseme niyetini şekillendiren temel belirleyicileri incelemekte ve Şubat-Nisan 2024 tarihleri arasında çevrimiçi bir anketle toplanan verileri analiz etmek için Kısmi En Küçük Kareler Yapısal Eşitlik Modellemesi (PLS-SEM) yöntemini kullanmaktadır. Bulgular, işletme desteği, algılanan davranışsal kontrol, farkındalık ve bilgi düzeyi ile dini yükümlülüğün İslami finansın benimsenmesi üzerinde önemli bir etkisi olduğunu göstermektedir. Bunlar arasında işletme desteği ve algılanan davranışsal kontrol en güçlü belirleyiciler olarak öne çıkmakta ve kurumsal destek ile finansal öz-yeterliliğin önemini vurgulamaktadır. Bu sonuçlar, hedefe yönelik finansal okuryazarlık girişimleri, düzenleyici reformlar ve özelleştirilmiş Şeriat uyumlu finansal çözümlere olan ihtiyacı ortaya koymaktadır. Çalışma, işletme teşvikleri ve finansal eğitimin girişimciler arasında İslami finansın yaygınlaştırılmasındaki rolüne dikkat çekerek politika yapıcılar, finans kurumları ve düzenleyiciler için değerli bilgiler sunmaktadır.

Keywords

İslami Finansal Kabul , PLS-SEM , Girişimci Niyetleri , İş Desteği , Algılanan Davranış Kontrolü , Finansal Okuryazarlık , Düzenleyici Çerçeve , Şer’i Uyumluluk

Supporting Institution

Istanbul Zaim University

Project Number

17th ICKEM

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