Understanding Cash Waqf Intention among Academics: The Role of Financial Literacy as a Moderating Variable

Despite Indonesia’s substantial potential for cash waqf, its realization remains far below expectations, indicating relatively low public interest in participating in cash waqf initiatives. This study aims to examine the effects of attitudes, subjective norms, religiosity, and information media on the intention to participate in cash waqf, with cash waqf literacy positioned as a moderating variable among lecturers of the Faculties of Islamic Economics and Business at State Islamic Religious Universities (PTKIN) in West Sumatra. This research employs a quantitative approach using a survey method. Primary data were collected through questionnaires distributed to 150 lecturers and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4 software. The findings reveal that attitudes, subjective norms, religiosity, and information media significantly and positively influence cash waqf intention. However, cash waqf literacy does not significantly moderate the relationships between these variables and cash waqf intention. These findings contrast with prior studies suggesting that cash waqf literacy plays a significant role in enhancing participation intention. The absence of a moderating effect indicates that the determinants proposed in the Theory of Reasoned Action (TRA) exert a strong and direct influence independently of literacy levels. Practically, the results imply that waqf institutions and nazhir should reconsider their strategic focus by shifting from literacy-based campaigns toward strengthening transparency, trust, and institutional credibility, particularly when targeting academics and upper-middle-class Muslim communities.