Islamic Financial Literacy: A Conceptualization and Proposed Measurement
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2018, Vol 8, Issue 12
Abstract
Purpose: This paper aims to scrutinize the concept of Islamic financial literacy and propose the suitable items for its measurement. Design/methodology/approach: An exploratory study is conducted due limited existing research works are available in the area of Islamic financial literacy. The items for measurement of Islamic financial literacy in this paper consider a number of significant features of Islamic finance. Findings: A proposed measurement items of Islamic financial literacy have been developed. Several questions are constructed and grouped namely the money basics, Islamic banking, Takaful and Shariah-compliant investments. Research implications: This study attempts to contribute towards acquiring new theoretical models, especially in suggesting items to measure the level of Islamic financial literacy and personal financial behavior. Practical implications: The expected outcomes from this research will highlight an idea to the Islamic financial literacy and also act as a tool in order to improve the financial behavior as guided by Shariah. Originality/value: This study is the first of this kind to advocate the items for measurement of Islamic financial literacy level by developing test questions consist of these four main aspects in Islamic finance and four elements to be measured in personal financial behavior.
Authors and Affiliations
Farah Amalina Md Nawi, Wan Mohd Nazri Wan Daud, Puspa Liza Ghazali, Ahmad Shukri Yazid, Zelhuda Shamsuddin
Keywords
Related Articles
- EP ID EP580902
- DOI 10.6007/IJARBSS/v8-i12/5061
- Views 82
- Downloads 0
PRO-STEM Module: The Development and Validation
This study was conducted to develop a PRO-STEM module for teaching the topic of “Biodiversity and Ecosystem” in Science for Form Two students. In this module, the concept of Science, Technology, Engineering, and Mathemat...
Professionalism Practice among Lecturers in Polytechnic in Malaysia
This study was carried out by using a questionnaire survey. The Cronbach’s Alpha value for the questionnaire was calculated as 0.956, a value of which is considered as reliable. Descriptive statistical analysis was carri...
Preparing Pre-Service Teacher in Professionalism Practice
Professionalism practice is closely related to the quality of practices, moral and ethical. Professional practices include behaviors that are compliant to the requirements of professional ethics, reflection on teaching d...
From Knowledge Retention to Knowledge Transfer
Information is a vital factor used by librarian, scientists and other information professionals and practitioners, in the library or any organization to make decision making, to prepare plans and strategies, to execute a...
The Impact of Entrepreneurial Leadership on Innovation Process and Innovation Performance
Purpose- The aim of this research to understand the impact of entrepreneurial leadership to innovation performance. The results of this study also will support or reject the results of the previous study by Musa and Font...