1 / 21

The Impact of Islamic Economics and Finance Courses on Islamic Financial Literacy

The Impact of Islamic Economics and Finance Courses on Islamic Financial Literacy. Mohamad Fany Alfarisi Agestayani Silvi Delfiani. Background. Islamic financial literacy is deemed as one of the main requirements to increase the size of the Islamic financial industry.

shaunv
Download Presentation

The Impact of Islamic Economics and Finance Courses on Islamic Financial Literacy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Impact of Islamic Economics and Finance Courses on Islamic Financial Literacy Mohamad Fany Alfarisi Agestayani Silvi Delfiani .

  2. Background • Islamic financial literacy is deemed as one of the main requirements to increase the size of the Islamic financial industry. • According to the 2016 survey of the Indonesia Financial Services Authority (OJK), the Islamic financial literacy index of Indonesian consumers stood at the level of 8.11%. 

  3. Demographic Dividend

  4. Background ISLAMIC

  5. Background • Given the difference between Islamic and conventional finance, there should be proper modification and adjustment in defining financial literacy within the context of Syariah. • With respect to the population composition, Indonesia is granted with a sizable number of those who are in the category of working age.

  6. Background

  7. Indonesian Higher Education Institutions Offering Islamic Economics and Finance Courses And other institutions

  8. Financial Literacy • Financial literacy is a “knowledge of basic economic and financial concepts, as well as the ability to use that knowledge and other financial skills to manage financial resources effectively for a lifetime of financial well-being” (Hung, Parker, andYoong, 2009)

  9. Financial Literacy

  10. Financial Literacy • With respect to the divergence between Islamic and conventional finance, there should be some adjustments and modifications in defining and constructing the Islamic financial literacy concept. • Basic financial literacy questions normally ask consumer’s knowledge on interest rateand how interest rate works.

  11. Islamic Financial Literacy

  12. Islamic Financial Literacy • Iqbal and Mirakhor (2011) suggests a number of basic principles that govern Islamic financial system notably: prohibition of interest, asset-based, risk-sharing, money as potential capital, prohibition of speculative behavior, sanctity of contracts and preservation of property rights.

  13. Sample • University students of Universitas Andalas, Universitas Negeri Padang and Universitas Islam Negeri (UIN) Imam Bonjol • Some students have taken formal Islamic and economics financial courses in their institutions.

  14. Instrument • Questionnaire: knowledge, attitude and behavior. • Analysis: descriptive and cross-tab

  15. Descriptive Statistic • Religion: 99% are Muslims • Age: Majority in the age of 21 (43%) • Parents education: Mostly high school • Family income: 2 million-4.9 million IDR

  16. Islamic Financial Knowledge

  17. Islamic Financial Attitude

  18. Islamic Financial Behavior

  19. Islamic Financial Knowledge and Islamic Economics and Finance Courses

  20. Conclusion • The present study finds that attending formal Islamic Economics and Finance courses can positively contribute to a greater level of Islamic Financial Literacy.

  21. Tarimokasih

More Related