The Influence of Religiosity and Socio-Economic Conditions of Society on Investment Interest in Cash Waqf Linked Deposits

This study explores the influence of religiosity and socio-economic conditions on investment interest in Cash Waqf Linked Deposits (CWLD), with attitude as a mediating variable and investor social status as a moderating variable. CWLD is an innovative Islamic financial instrument that integrates philanthropic values with investment objectives, offering both spiritual and social benefits. Using the Theory of Planned Behavior (TPB) as the theoretical framework, this study examines the roles of Islamic financial literacy, religiosity, attitude, and social status in influencing CWLD investment interest. A quantitative approach was adopted, with data collected from Bank Syariah Indonesia (BSI) customers through purposive sampling. SmartPLS-SEM was used for data analysis. The results indicate that financial literacy and religiosity have significant direct effects on attitude and investment interest. Attitude significantly influences investment interest but does not mediate the relationship between financial literacy or religiosity and investment interest. Investor social status also does not moderate the relationship between attitude and investment interest. These findings highlight the importance of enhancing Islamic financial education and promoting the spiritual values of CWLD to increase public participation in Islamic philanthropic finance