ISLAMIC FINANCIAL LITERACY AND THE EMERGING NEED FOR DA‘WAH: EVIDENCE FROM MALAYSIA AND INDONESIA
LITERASI KEWANGAN ISLAM DAN KEPERLUAN MENINGKAT UNTUK DAKWAH: BUKTI DARIPADA MALAYSIA DAN INDONESIA
DOI:
https://doi.org/10.61465/jurnalyadim.v4.360Abstract
Islamic financial literacy (IFL) plays a crucial role in guiding individuals to make informed financial decisions in accordance with Shariah principles. This is particularly important in Muslim-majority nations such as Malaysia and Indonesia, where Islamic financial products are increasingly accessible and integrated into the economic system. The purpose of this study is to compare the level of IFL between young adults in Malaysia and Indonesia. A quantitative research design was employed using an online survey, targeting respondents aged 18 to 43 through purposive sampling. A total of 419 participants from Malaysia and 658 participants from Indonesia completed a 10-item IFL assessment. Descriptive analysis and independent samples t-test were conducted to evaluate differences in literacy levels. The findings indicate a statistically significant difference between the two groups, with Malaysian respondents demonstrating slightly higher IFL scores compared to their Indonesian counterparts. The results contribute to theoretical understanding by highlighting cross - country variation in IFL within Muslim contexts and offer practical implications for policymakers and educational institutions to strengthen targeted financial education initiatives, especially in Indonesia. Additionally, the study highlights the role of promoting IFL as part of da’wah and education, encouraging ethical financial decision-making aligned with Shariah principles.
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