International Journal of Islamic Economics and Finance (IJIEF) Vol. 6(1), January 2023, pages 53-72 Indonesian Muslim Youth - Factors Influencing Intention to Perform Cash Waqf Anisa Syahidah Mujahidah1, Aam Slamet Rusydiana2* *Corresponding email: aamsmart@gmail.com Article History Received: February 11th, 2022 Revised: November 22nd, 2022 Accepted: December 2nd, 2022 Abstract This study aims to investigate the intention to donate cash waqf among Indonesian Muslim youth. Additionally, this study explains the theory of planned behavior (TPB) and two additional variables, i.e., Islamic religiosity and willingness to donate cash waqf. The Partial Least Square Structural Equation Modeling (PLS-SEM) method was employed to evaluate the measurement and structural models. Online questionnaires then distributed to purposively selected respondents throughout Indonesia, consisting of all major islands. In total, 104 respondents participated. This study uncovered that the attitude and willingness variables affected the intention to donate cash waqf among Indonesian Muslim youth. Meanwhile, subjective norms, perceived behavioral control, and Islamic religiosity variables were not significantly proven as the determinants to donate cash waqf. With the latest data and variables studied, these findings can be used as guidelines for policymakers, especially waqf regulators and waqf institutions, to innovate and improve the characteristics of cash waqf contributors, primarily among Muslim youth, to maintain the waqf instruments’ sustainability and development. Keywords: Waqf; Cash Waqf; Intention; TPB; Muslim Youth JEL Classification: Z12; Z13; G40 Type of paper: Research Paper @ IJIEF 2023 published by Universitas Muhammadiyah Yogyakarta, Indonesia DOI: https://doi.org/10.18196/ijief.v6i1.13964 Web: https://journal.umy.ac.id/index.php/ijief/article/view/13964 Citation: Mujahidah, A. S. & Rusydiana, A. S. (2022). Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf. International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72. DOI: https://doi.org/10.18196/ijief.v6i1.13964. 1 Tazkia Islamic University College, Indonesia 2 Sharia Economic Applied Research and Training (SMART), Indonesia about:blank about:blank https://journal.umy.ac.id/index.php/ijief/article/view/13964 about:blank about:blankhttps://crossmark.crossref.org/dialog/?doi=10.18196/ijief.v6i1.13964&domain=pdf Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 46 I. Introduction The significance of waqf in Islam is a major feature from the time of the Prophet (PBUH) until the beginning of the 19th century. Waqf has played an essential part in Islamic history (Kasri & Chaerunnisa, 2020). Waqf is a voluntary deed advised by the Prophet Muhammad and widely done in the early Islamic period (Pitchay, et al., 2015). Waqf is the concept of utilizing existing property, and the profits obtained are used to help the poor or for other good intentions. Furthermore, waqf might take many forms depending on the goal and nature of the outcomes (Rizal & Amin, 2017). According to current Islamic literature, waqf is a strategy for a fairer distribution of wealth among fellow Muslims. Waqf also supports spiritual investment to improve the ummah and social welfare (Kahf, 1999). Most people of Islamic faith presently consider waqf confined to land or property used only for religious purposes (Iqbal, et al., 2019). Some Indonesians still invest their waqf assets in idle goods (for example?) rather than productive ones. Waqf does not have to be confined to land, buildings, or immovable property; it can also be in the form of finances or moveable goods (Mokthar, 2018). Since the National Shariah Board, Indonesia Ulama Council (DSN-MUI) issued a fatwa on cash waqf in 2012, and cash waqf has become well-known in Indonesia (Tanjung, 2020). On the basis of the latest data and re-examining the theory of planned behavior (TPB) with the addition of Islamic religiosity and willingness, this research is vital to determine the factors affecting the future sustainability of waqf institutions, which, in turn, will depend on the views of values of Muslim youth today. Hence, it is crucial to know the characteristics of Muslim youth who will become donors in providing cash waqf in the present and the future. Research on cash waqf has been widely studied in various countries, such as Iran (Hosseini, et al., 2014), Indonesia (Witjaksono, et al., 2019), Nigeria (Musa & Salleh, 2018), Malaysia (Thaker, et al., 2017), Bangladesh (Thoarlim, et al., 2017), (Saiti & Bulut, 2020). These studies showed that cash waqf has become a matter of contention and an essential Islamic financial instrument that must be enhanced. Researchers have also revealed several factors influencing the intention to donate cash waqfs, such as the social environment (Iqbal, et al., 2019), attitude (Pitchay, et al., 2015), subjective norms (Witjaksono, et al., 2019), perceived behavioral control (Zabri & Mohammed, 2017), ukhuwah (Mokthar, 2018), conscientiousness (Zain, et al., 2019), and trust, knowledge, and religiosity (Kasri & Chaerunnisa, 2020). Even so, studies discovered that in Indonesia, the willingness of young people to donate cash waqf remains low (Aldeen, et al., 2020). As a result, it is crucial to investigate if willingness is one of the elements influencing whether a person would donate a cash waqf. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 47 Furthermore, cash waqf influences the growth of waqf instruments and institutions to maintain their sustainability and formation. In addition, cash waqf is also a helpful instrument to meet the United Nation’s Sustainable Development Goals (Abubakar & Rahman, 2021). II. Literature Review The Qur'an and the Hadith emphasize the necessity of donating to waqf. According to the Qur'an, money does not belong to a single person since other people also have rights to it (Rizal & Amin, 2017). Since the Ottoman Empire, the notion of cash waqf has been established. According to Saduman and Aysun (2009), the notion of cash waqf significantly expanded government revenues and considerably enhanced the socioeconomic situation of Muslims throughout the Ottoman era. Cash waqf also continues to be a viable and relevant method of development. Since cash waqf has existed in many Muslim nations for centuries, most have made it easier for gift collecting and distribution (Karim, 2010). The potential of cash waqf has also been extensively researched, as have related historical documents. It is reported that cash waqf had a relatively significant contribution to the government revenue. Cash waqf also helped eliminate the practice of riba (usury (Cizakca, 1998)), (Ab Shatar, et al., 2021), (Aldeen, et al., 2020) and (Rizal & Amin, 2017). Further studies investigated cash waqf collection (Kasri & Chaerunnisa, 2020), online cash waqf (Berakon, et al., 2020), the impact of the digital Islamic banking system on cash waqf (Afroz, et al., 2019), waqf-based Islamic microfinance (Fajariah et al., 2020), and others. In addition, Ahmad & Rusdianto (2020), in their research on the Intention of Cash Waqf Donation in Islamic Microfinance Institutions, found that the level of trust positively affected the intention to provide cash waqf to Islamic financial institutions. Meanwhile, Alifiandy & Sukmana (2020) uncovered that attitude significantly influenced the intention to donate waqf at specific Islamic financial institutions. A study by (Zain, et al., 2019) also found that prudence of cash waqf significantly affected cash waqf intentions. In Penang, Malaysia, it was demonstrated that factors which influenced the intention to donate cash waqf were ukhuwah (Ukhuwwah is characterized as a fraternity or a connection between individuals), rewards, religious obedience, and awareness of cash waqf (Mokthar, 2018). Awareness also affected the intention to do cash waqf, while promotion of cash waqf did not influence the intention to perform cash waqf (Iqbal, et al., 2019). Table 1 provides a summary on previous studies. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 48 2.1. Theory of Planned Behavior (TPB) The evolution of the notion of reasoned action emanates from the theory of planned behavior. This theory integrates numerous vital ideas from the social and behavioral sciences and explains them in a way that allows for predicting and comprehending specific actions in specific situations (Azjen, 1991). This idea is commonly utilized in psychology and market research to forecast customer interest and behaviour. Furthermore, this theory may identify a person's interest in various social activities connected to a person's desire to share with others, such as making donations, blood donations, and other similar activities (Heikal, et al., 2014). The theory of planned behavior has three main variables: attitude, subjective norms, and perceived behavioral control. Attitude is a psychological concept conveyed through a scale of likes and dislikes (Eagly & Chaiken, 1993). Attitude is also an indicator of a person's desire to respond and act on something (Heikal, et al., 2014). Then, the apparent social pressure to do or not do something is referred to as subjective norms (Azjen, 1991). Subjective norms are also defined as a person's perception of other people's expectations of an upcoming activity. Further, subjective assumptions are impacted by one's worldviews and values (Huda, et al., 2012). Meanwhile, perceived behavioral control is a state in which a person perceives a specific activity as simple or challenging based on previous experiences and barriers (Dharmmesta, 1998). Studies on the intention to waqf by outlining the TPB have been undertaken in many ways by many researchers in the past, with varying results. The variables of attitude, subjective norms, and perceived behavioral control were found to significantly influence Islamic bank consumers in Jakarta intending to do cash waqf through Islamic banking (Witjaksono, et al., 2019). Other research (Alifiandy & Sukmana, 2020) revealed that of the three core variables of the theory of planned behavior, only the attitude variable significantly influenced the waqif's (person who performs waqf) intention to donate waqf. Meanwhile, other variables from the theory of planned behavior, i.e., subjective norms and perceived behavioral control, were reported to have no significant effect on the waqif's intention to donate waqf. Thus, in this study, the following hypotheses were formed: H1: Attitude toward waqf positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. H2: Subjective norms positively and significantly affect Indonesian Muslim youth's intention to donate cash waqf. H3: Perceived behavioral control positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 49 2.2. Islamic Religiosity Religious faith is the most potent motivator for people of Indonesia to follow religious teachings (Syafira, et al., 2020). Religion is essential since it is one of the supporting forces based on civilization. At the individual and social levels, these fundamental pillars significantly influence cognitive processes, traits, and behavior. When someone lives in a community, religiosity is the reciprocal attitude of principles and practices in topics cleansed or in everyday life, and it improves comprehension of one another's affiliations and obligations (Mukhtar & Butt, 2012) According to (Carabain & Bekkers, 2011), religious people are willing to volunteer or act voluntarily for the betterment of society and fellow humanity. A person’s religious faith is also one of the crucial determinants of volunteering (Musick & Wilson, 2008). Islamic religiosity has been researched by Rizal & Amin (2017) and uncovered to have a significant effect on the contribution of cash waqf. Mokthar (2018), in his research, asserted that religiosity also affected the intention of Muslims in Penang to perform cash waqf. As a result, the following hypothesis emerged: H4: Islamic religiosity positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. 2.3. Willingness Berakon et al., (2020) researched the willingness level of Muslim youth to donate cash waqf in Indonesia. They revealed that the willingness level that remains is not strong as they preferred other charities, such as donations or others. It was also because they could not explain the cash waqf itself. Hence, this study examined willingness as a variable affecting Indonesian Muslim youth's intention to donate cash waqf. According to the study, willingness influences Indonesian Muslim youth's intention to give cash waqf. As a result, it was hypothesized in this study: H5: Willingness positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. III. Research Methodology 3.1. Data The authors' data in this study were all primary. An online questionnaire was delivered to respondents identified in the study to collect data through online media using Google form tools. A five-point Likert scale was used to answer the questions in this research questionnaire, starting with one (strongly Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 50 disagree) and progressing to five (strongly agree). The Likert scale is a type of scale used to gather information in order to understand or quantify information that is both qualitative and quantitative. The information is gathered to ascertain a person's viewpoint, perception, or attitude regarding an occurrence. Moreover, PLS-SEM method was applied in this study, utilizing WarpPLS software. Table 1. Summary of Previous Studies Author(s) Independent variables Dependent variable Significance +/- Ahmad & Rusdianto (2020) Perception of transparency (X1), perception of accountability (X2), and trust (X3) Cash waqf intention on BMT X1 and X2 were significant; X3 was not significant. (+) Alifiandy & Sukmana (2020) Behavior (X1), knowledge (X2), subjective norms (X3), and perceived behavioral control (X4) Waqf intention X1 and X4 were significant; X2 and X3 were not significant. (+) Mokhtar (2018) Religious obedience (X1), rewards (X2), awareness (X3), and ukhuwah (X4) Cash waqf intention X4 was significant; X1, X2, and X3 were not significant. (+) Iqbal et al. (2019) Promotion (X1), social environment (X2), understanding (X3), and awareness (X4) Indonesian cash waqf intention X3 and X4 were significant; X1 and X2 were not significant. (+) Berakon et al. (2020) Subjective norms (X1), perceived behavioral control (X2), perceived usefulness (X3), ease of use (X4), and attitude (X5) Cash waqf Muslim youth’s decision X1, X2, X3, and X5 were significant; X4 was not significant. (+) Rizal & Amin (2017) Perceived Ihsan (X1), Islamic egalitarian (X2), and religiosity (X3) Cash waqf giving X1, X2, and X3 were significant. (+) Additionally, this study utilized purposive sampling, in order to limit the number of respondents to Muslims and Indonesian nationals to meet the study's aims. The minimum valid number of respondents required in PLS-SEM research study was 100 persons based on Kock (2018). 3.2. Method Structural Equation Modeling (SEM) is a multivariate analysis technique developed to cover the limitations of previous analytical models that have been widely used in statistical research. The models include regression analysis, path analysis, and confirmatory factor analysis (Hox & Bechger, 1998). SEM is divided into two types, namely covariance-based SEM and variant- based SEM. Covariance-based SEM analysis requires a strong and well-defined theoretical foundation. This model requires a large sample, with the starting assumption that the data have a multivariate normal distribution. Often the data in the field shows a pattern of data that is not normally distributed, so a free and flexible method of research is needed. The alternative SEM method Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 51 in question is variant-based SEM or often referred to as Partial Least Square (PLS). According to Vinzi, et al (2010) the basic assumptions of PLS are for the purpose of prediction and model exploration but are preferred as model exploration. The model obtained by PLS can optimize the predictive relationship between latent variables that are measured indirectly by the indicator. Structural equation modeling (SEM) using partial least squares (PLS) method was used to test measurement and structural models. The reliability and validity of the study constructs were evaluated. PLS-SEM is a well-established technique used in various studies to estimate path coefficients and investigate the complexity of the relationships built into structural models (Ali et al., 2017). The ability to relate the relationship between variables in the examination of measurement model items are two advantages of this method compared with co-variance-based SEM (Fakih et al., 2016). Data were filtered and scanned for valid use cases for data analysis. PLS is a variant-based structural equation analysis that can simultaneously test the measurement model as well as test the structural model. The measurement model is used to test the validity and reliability, while the structural model is used to test causality (testing hypotheses with predictive models). The basic difference between PLS which is a variant-based SEM with LISREL or AMOS which is covariance-based is the purpose of its use. Covariance-based SEM aims to estimate models for theory testing or confirmation, while variance SEM aims to predict models for theory development. Therefore, PLS is a causality prediction tool used for theory development (Jogiyanto & Abdillah, 2009). Further, PLS can be used for small samples, however a large sample size will increase the precision of estimation. Regarding how many samples, PLS-SEM is not subject to any specific rules. PLS does not require that the data distribution be normal. The form of the construct can use a reflective or formative model. The maximum number of indicators is also large, in the order of 1,000 indicators (Hair, Hult, Ringle, & Sarstedt, 2014). 3.3. Model and Hypotheses The exogenous latent variables in this study consisted of five variables:  attitude (ξ1),  subjective norms (ξ2),  perceived behavioral control (ξ3),  religiosity (ξ4),  willingness (ξ5), and endogenous latent variable of intention (η). Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 52 Referring to these variables can be developed into several indicators described in Table 2. Table 2. Indicator Variables Latent Variable Indicator Symbol Adopted from Attitude (ξ1) Cash waqf is an innovative idea. ATT1 (Kasri & Chaerunnisa, 2020) (Berakon, et al., 2020) Cash waqf is a wise and appropriate step. ATT2 I believe that cash waqf is very beneficial. ATT3 Subjective norms (ξ2) The people closest to me encourage me to participate in cash waqf. SN1 (Berakon, et al., 2020) The people closest to me do cash waqf. SN2 My family encourages me to do cash waqf. SN3 Perceived behavioral control (ξ3) I can participate in cash waqf. PBC1 (Zabri & Mohammed, 2017) (Berakon, et al., 2020) I have sufficient knowledge to participate in cash waqf. PBC2 I can easily participate in cash waqf if I want. PBC3 Islamic religiosity (ξ4) In my opinion, all human activities must be done because of Allah IS1 (Kasri & Chaerunnisa, 2020) (Rizal & Amin, 2017) (Al-Qardawi, 1981) Waqf giving is encouraged by Islam. IS2 Prophet Muhammad showed and taught the importance of doing good deeds, such as waqf. IS3 Willingness (ξ5) I have the desire to contribute cash waqf voluntarily. WLS1 (Aldeen, et al., 2020) In the future, I am interested in contributing cash waqf to specific institution waqf. WLS2 Cash waqf is my choice of charity. WLS3 I have the desire to do cash waqf in the future. WLS4 Intention (η) I will choose cash waqf over ordinary waqf. INT1 (Berakon, et al., 2020) (Kasri & Chaerunnisa, 2020) I intend to do cash waqf. INT2 The research framework for this study is as follows, employing the PLS-SEM model. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 53 Figure 1. Research Framework The following is the research hypothesis. H1: Attitude positively and significantly influences Indonesian Muslim youth's intention to donate cash waqf. H2: Subjective norms positively and significantly influences Indonesian Muslim youth's intention to donate cash waqf. H3: Perceived behavioral control positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. H4: Islamic religiosity positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. H5: Willingness positively and significantly affects Indonesian Muslim youth's intention to donate cash waqf. IV. Results and Discussion A total of 104 people took part in this investigation. Male respondents accounted for 36.5% of the total, while female respondents amounted to 63.5%. Respondents’’ profile characteristics can be seen in Table 3. 4.1. Measurement Model Tests-Validity and Reliability Convergent and discriminant validity are two types of statistical validity tests. Generally, the Average Variance Extracted (AVE) and loading factor values are used to determine convergent validity. If the item has an AVE value larger than 0.5 in each variable and a loading factor value greater than 0.5, it is free of convergence validity flaws. When the correlation value of one variable with other variables is larger than the correlation value of all variables, discriminant validity is achieved. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 54 Table 3. Respondent Characteristics December, 2020 Demographic variables N (%) Gender Male 38 36.5 Female 66 63.5 Region Java Island 65 62 Sumatera Island 26 25 Bali and Nusa Tenggara Islands 6 6 Kalimantan Island 2 2 Sulawesi Island 3 3 Papua Island 2 2 Age 17-30 years 102 98.1 31-40 years 2 1.9 Education Junior high school degree 58 55.8 Senior high school degree 46 44.2 Occupation Student 85 81.7 Entrepreneur 9 8.7 Others 10 9.6 The cross-loading value is another method that may be utilized to pass this test if each question item variable's cross-loading value is larger than the question item variable's correlation value on other variables. If the composite reliability (CR) and Cronbach's alpha scores are more than 0.70, the reliability test is considered trustworthy (Hair et al., 2014). Table 4 illustrates the result of convergence validity and construct reliability. The impact of attitudes on intentions of Indonesian Muslim youth to donate cash waqf was demonstrated by statistical test findings ( 𝛽 =0.27, p- value<0.01), implying that H1 was supported. Meanwhile, subjective norms (social influences that influence a person to behave) did not affect Indonesian Muslims' youth desire to donate cash waqf (𝛽= 0.18, p-value = 0.03), so H2 was not supported. Perceived behavioral control and Islamic religiosity variables were also found to have no significant effect on the intention to donate cash waqf, with the statistical result of each variable (𝛽=0.02, p-value=0.44) and (𝛽=0.07, p-value=0.23), respectively. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 55 Table 4. Convergence Validity and Construct Reliability Results Items Loadings AVE Alpha CR Attitude 0.821 0.890 0.932 ATT1 (0.915) ATT2 (0.937) ATT3 (0.865) Subjective norms 0.752 0.834 0.901 SN1 (0.858) SN2 (0.912) SN3 (0.830) Perceived behavioral control 0.717 0.802 0.884 PBC1 (0.834) PBC2 (0.857) PBC3 (0.848) Islamic religiosity 0.885 0.935 0.959 IS1 (0.936) IS2 (0.937) IS3 (0.950) Willingness 0.758 0.893 0.926 WLS1 (0.846) WLS2 (0.908) WLS3 (0.837) WLS4 (0.889) Intention 0.877 0.859 0.934 INT1 (0.936) INT2 (0.936) Figure 2 is the PLS-SEM model along with the results obtained from data processing using WarpPLS software. Figure 2. Research Model Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 56 Furthermore, the findings demonstrated that Indonesian Muslim youths’ intention to donate cash waqf was influenced by willingness (𝛽 =0.58, p- value<0.01), supporting H5. As a result, subjective norms had no bearing on this study. Table 5 explains the results of hypotheses testing of the model. Table 5. Hypotheses Testing Results Path 𝜷 Remark Attitude  Intention 0.27* H1 is supported. Subjective norms Intention 0.18ns H2 is unsupported. Perceived behavioral control Intention 0.02 ns H3 is unsupported. Islamic religiosity Intention 0.07 ns H4 is unsupported. Willingness Intention 0.58* H5 is supported. Notes: *p-value <0.01(significant); ns = not significant This research model was based on the theory of planned behavior with the addition of two variables: Islamic religiosity and willingness to donate cash waqf. In the light of the survey data results, two hypotheses were supported, whereas three hypotheses were not supported. The data reveal that the variable resulting from the theory of planned behavior (i.e., attitude) had a significant effect on the intention of Indonesian Muslim Youth to donate cash waqf. This suggests that a person's personality strongly encourages the behavioral intentions of Indonesian Muslim youth, especially in donating cash waqf activities. This finding corroborates previous research (Alifiandy & Sukmana, 2020) in the context of the intention to donate cash waqf. Also, their study found that the attitude variable significantly affected the waqif's intention to donate waqf at PUSPAS. In addition, the study results revealed that the variable from the theory of planned behavior (i.e., subjective norm) also had no significant effect. It indicates that social pressure from friends, family and the environment was also not a factor influencing the intention of Indonesian Muslim youth to donate cash waqf. This was possible because the commonly known waqf by Indonesian people is waqf in the form of buildings, land, and other fixed assets. Education about cash waqf also has not touched all people. Therefore, there was no social pressure affecting the intention of Muslim youth to donate cash waqf. Besides, social pressure was not too influential because, in practice, waqf is voluntary, so performing cash waqf is not obligatory for young Muslim people. This is reinforced by a study (Alifiandy & Sukmana, 2020) in the context of intention to donate waqf in PUSPAS that subjective norms had no significant effect on the intention to donate waqf in PUSPAS. Another variable from the theory of planned behavior - perceived behavioral control - was shown to have no significant effect on the intention of Indonesian Muslim youth to donate cash waqf. This finding suggests the level ease or difficulty did not affect people doing something, especially in donating Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 57 cash waqf among Indonesian Muslim youth. Hence, the ease with which Muslim youth can donate to waqf did not affect the intention of Muslim youth to donate cash waqf. This result is supported by another study (Alifiandy & Sukmana, 2020), where perceived behavioral control also had an insignificant effect on the intention to donate waqf in PUSPAS. However, this study's results do not follow Ajzen's (2005) TPB. In theory, perceived behavioral control factors have both reinforcing and debilitating characteristics of intentions. If the behavior is perceived as achievable, the intention to give cash waqf will be strengthened. Conversely, if the behavior turns out to be difficult or impossible, the intention will be weakened. Islamic religiosity control, was also reported to have no significant effect on the intentions of Indonesian Muslim youth to donate cash waqf. The result differs from the findings of Rizal & Amin (2017), where Islamic religiosity had a significant effect on giving cash waqf. It can then be concluded that among Indonesian Muslim youth, Islamic religiosity did not have a significant effect because, in the case of cash waqf, there are still differences of opinion in the field of Fiqh and the opinions of the scholars for example the opinion of Imam Syafi'i who prohibits waqf with money because of the nature of money that is easily lost and its substance is not eternal. Therefore, a person's religiosity level was not a factor affecting cash waqf due to differences of opinion among scholars about the law and whether cash waqf is believed. Aside from the attitude variable, a significant variable in this study was the willingness variable which had a significant effect on the intention to donate cash waqf among Indonesian Muslim youth. It can be interpreted that whether someone wants to or not affects the intention to do something, especially in terms of cash waqf among Indonesian Muslim youth. When the Muslim youth wants to contribute to waqf, it will affect the intention itself. Conversely, intention to contribute to waqf is enhanced after contributing to waqf. When Muslim youth do not want to do it, it will affect their intention to do so. In Berakon, Aji, & Hafizi’s (2020) research, it was demonstrated that, despite the willingness of Muslim youth to donate cash, waqf was still low due to the preference of Indonesian Muslim youth to perform charity. This was chiefly done through donations or other activities for social betterment. The authors also could not explain what cash waqf was made to others. Hence, it can be concluded that to donate cash waqf, willingness of Indonesian Muslim youth will significantly affect the intention to donate cash waqf. Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 58 V. Conclusion The objective of this study is to examine, from the insights of Indonesian Muslim youth, the intention to donate cash waqf. This study also investigates the TPB model, adding Islamic religiosity and willingness variables. The results exposed that the willingness variable affected the intention to donate cash waqf among Indonesian Muslim youth. Meanwhile, subjective norms, perceived behavioral control, and Islamic religiosity did not significantly influence the intention to donate cash waqf. In addition, the model revealed that the attitude, subjective norms, perceived behavioral control, Islamic religiosity, and willingness variables could explain a large majority (79.9%) of the determinants of intentions to donate cash waqf among Indonesian Muslim youth. The implications of this study as far as existing research is concerned, there have been many marketing concepts such as TPB (Theory of Planned Behavior), TRA (Theory of Reasoned Action) and other theories. However, this concept originated from a business and commercial concept. Meanwhile, the concept of waqf, zakat and other donations is not a commercial industry but Islamic social finance. Although in several studies it looks the same, it seems that in the future it is necessary to develop other more appropriate theories. As for the practice of the Islamic social finance industry, Muslim philanthropists also the nadzhirs need to see and consider the results of this study in the framework of increasing the potential for raising Islamic social funds, especially waqf from young Muslim millennials. The limitation of this study is that, although the sample was representative of all islands in Indonesia, the island of Java Island dominated the scattered sample. In this regard, reaching respondents far from East to West is a significant challenge. Therefore, further research should provide additional knowledge in this area. Likewise, the covariance-based SEM method, considered relatively more robust, could be used in future analysis. References Ab Shatar, W. N., Hanaysha, J. R., & Tahir, P. R. (2021). Determinants of cash waqf fund collection in Malaysian Islamic banking institutions: empirical insights from employees’ perspectives. 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Cross Loading ATT SN PBC IS WLS INT ATT1 (0.915) -0.014 -0.070 -0.049 -0.052 0.081 ATT2 (0.937) 0.075 -0.013 -0.054 0.145 -0.060 ATT3 (0.865) -0.066 0.089 0.110 -0.102 -0.021 SN1 -0.026 (0.858) 0.171 0.085 -0.353 0.193 SN2 0.016 (0.912) 0.110 0.000 -0.002 0.022 SN3 0.009 (0.830) -0.298 -0.087 0.367 -0.223 PBC1 -0.221 -0.014 (0.834) -0.061 0.015 0.216 PBC2 0.164 -0.099 (0.857) -0.125 -0.237 0.132 PBC3 0.052 0.114 (0.848) 0.186 0.225 -0.346 IS1 -0.019 -0.009 0.033 (0.936) -0.005 -0.010 IS2 0.012 -0.019 -0.010 (0.937) 0.180 -0.110 IS3 0.007 0.029 -0.023 (0.950) -0.172 0.119 WLS1 -0.260 -0.009 0.164 0.347 (0.846) 0.024 WLS2 0.029 -0.122 0.113 -0.015 (0.908) 0.042 WLS3 0.074 0.091 -0.143 -0.276 (0.837) 0.152 WLS4 0.148 0.047 -0.137 -0.056 (0.889) -0.208 INT1 0.007 0.066 -0.067 0.046 -0.182 (0.936) INT2 -0.007 -0.066 0.067 -0.046 0.182 (0.936) Appendix II. Square Roots of AVE ATT SN PBC IS WLS INT ATT (0.906) 0.403 0.562 0.619 0.772 0.728 SN 0.403 (0.867) 0.625 0.120 0.406 0.505 PBC 0.562 0.625 (0.847) 0.378 0.561 0.543 IS 0.619 0.120 0.378 (0.941) 0.682 0.490 WLS 0.772 0.406 0.561 0.682 (0.871) 0.805 INT 0.728 0.505 0.543 0.490 0.805 (0.936) Appendix III. Inner Analysis Result ATT SN PBC IS WLS INT R-squared 0.799 Adj. R-squared 0.789 Composite reliability 0.932 0.901 0.884 0.959 0.926 0.934 Cronbach's alpha 0.890 0.834 0.802 0.935 0.893 0.859 Avg. var. extrac. 0.821 0.752 0.717 0.885 0.758 0.877 Full collin.VIF 2.996 1.905 2.114 2.161 4.562 3.454 Q-squared 0.712 Mujahidah & Rusydiana │ Perceptions of Indonesian Muslim youth on factors influencing their intention to perform cash waqf International Journal of Islamic Economics and Finance (IJIEF), 6(1), 53-72 │ 64 This page is intentionally left blank