Measuring Financial Knowledge Among Muslim Women: The Case of Indonesia and Malaysia

Authors

  • Aulia Arifatu Diniyya IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia
  • Salina Kassim IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia
  • Saidatolakma Mohd Yunus Department of Fiqh and Usul al-Fiqh, Kulliyyah of Islamic Revealed Knowledge and Human Sciences, International Islamic University Malaysia

Keywords:

financial literacy, women financial literacy, Islamic financial literacy, financial knowledge, financial attitude

Abstract

Financial literacy is taking an important role in supporting the development of women's empowerment. To determine the action for financial education for women, the level of financial literacy among women is needed to be observed. This study aims to measure the level of financial knowledge among Muslim women in Indonesia and Malaysia. A quantitative method of study is employed by distributing 411 questionnaires that consists of Islamic financial knowledge and general financial knowledge questions. As the sample of this study focuses on women in Indonesia and Malaysia, the findings of this study could not be generalized to other Muslim women in other countries. The research found that Muslim women in Indonesia and Malaysia have a moderate Islamic and general financial knowledge level. Several areas of weaknesses found in this study are; the understanding of the role of parties in mudharabah contract, knowledge on zakat, and the simple time value of money calculation. These three areas of weaknesses could be emphasized in the financial education program.

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Published

2022-06-30

How to Cite

Aulia Arifatu Diniyya, Kassim, S., & Mohd Yunus, S. (2022). Measuring Financial Knowledge Among Muslim Women: The Case of Indonesia and Malaysia. Journal of Islamic Finance, 11(1), 102–112. Retrieved from https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/639

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Articles