Examining Consumer Behavioural Intention Towards Cryptocurrency Adoption Readiness in Pakistan: A Religious Perspective

Naeem Zahoor; Junaid Rehman; Fatuma Namisango; Muhammad Asif Qureshi

doi:10.52633/jemi.v5i4.351

Authors

Naeem Zahoor Mohammad Ali Jinnah University, Karachi, Pakistan Author
Junaid Rehman Mohammad Ali Jinnah University, Karachi, Pakistan Author
Fatuma Namisango Murdoch University, Perth, Australia Author
Muhammad Asif Qureshi Mohammad Ali Jinnah University, Karachi, Pakistan Author

DOI:

https://doi.org/10.52633/jemi.v5i4.351

Keywords:

Cryptocurrencies, Financial Markets, Religiosity, Islamic Countries, Behavioural Intention, Technology Acceptance Model, Theory of Planned Behavior

Abstract

Cryptocurrencies have reshaped the global fintech landscape by providing an alternative system of digital payments, investments, trading, and exchange, thereby eliminating the constraints set by traditional currencies. Likewise, cryptocurrencies offer enormous potential to revolutionize the financial markets of Pakistan. This research was thus aimed at examining the underlying factors that shaped individuals’ behavioral intentions to adopt cryptocurrencies under the moderating influence of religion. Using a survey method, the data was collected from 220 professionals who worked in insurance, banking, investment, and trading firms in Pakistan. The data were subsequently processed for multivariate analyses using the smart PLS tool. This research contributes to the theory & research of and policy implications on cryptocurrencies by suggesting novel insights on their potential adoption and promising growth prospects in Pakistan. Notably, the results also reveal the level of influence that religion has on people when it comes to the adoption of these currencies in Pakistan, an Islamic state.

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