Publication: Measuring Islamic Financial Literacy: A Conceptual Review
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Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Fakulti Ekonomi dan Muamalat, Universiti Sains Islam Malaysia
Abstract
As the industry continues to develop and mature, there is a pressing need to develop a framework for Islamic financial literacy as part of the initiative to promote the stability and survival of the Islamic finance industry. Thus, there is a need to develop an Islamic financial literacy framework to cater the needs of an emerging segment of the Islamic financial services industry currently serving a rapidly growing Muslim population worldwide. This study examines the measurement of financial literacy based on the syariah point of views. In depth interviews with four informants were conducted to gain insight on the conceptual review of Islamic financial literacy. This study proposes that the measurement of Islamic financial literacy should include items on understanding the concept of moderation in spending, compulsory and voluntary spending, priority-based spending, need for saving and investment as well as prudent use of debt.
Description
e-Proceedings of The 10th Islamic Banking, Accounting and Finance International Conference 2022 (iBAF2022): “Future-Proofing for Business Excellence Through Islamic Banking, Accounting and Finance”/ Editors: Norhaziah Nawai, Khairil Faizal Khairi, Suhaila Abdul Hamid, Muhamad Azrin Nazri, Nur Ainna Ramli, Sumaiyah Abd Aziz, Mohd Adha Ibrahim, Syadiyah Abdul Shukor.
13th-14th September 2022 (Virtual Conference)
Organized by: Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia
Keywords
Islamic financial literacy; framework; measurement
Citation
Nawai, N., Khairi, K. F., Abdul Hamid, S., Nazri, M. A., Ramli, N. A., Abd Aziz, S., Ibrahim, M. A., & Abdul Shukor, S. (Eds.). (2022). e-Proceedings of The 10th Islamic Banking, Accounting and Finance International Conference 2022 (iBAF2022) : “Future-Proofing for Business Excellence Through Islamic Banking, Accounting and Finance.” Universiti Sains Islam Malaysia. https://fem.usim.edu.my/ibaf2022-proceeding/