The Significance of Islamic Financial Literacy among Youth in Malaysia
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 10
Abstract
The need to increase financial literacy is important as the economy continues to change. The importance of financial literacy not only among adults but also youth in order for them to make significant financial decision as they transition into adulthood. Previous studies report that financial literacy levels among respondents of surveys were alarmingly low in many countries. The 2008 Great Recession aftermath, numerous studies were undertaken by academic researchers in analyzing the factors affecting the financial literacy of individuals. Previous studies revealed that financial literacy among the young was low and research on the Islamic financial literacy relatively scarce. In view of these concerns, this paper aims to suggest filling this gap by studying the extent of the relationship between financial literacy and its influence towards young adult in Malaysia. Additional research involving financial literacy is necessary. Thus, this paper suggests that future reseach should focus primarily on students’ financial literacy within Islamic context and may provide further insights into the effects of Islamic financial literacy intervention on students at college level..
Authors and Affiliations
Sazana Ab Rahman, Anas Tajudin, Ahmad Fadzli Ahmad Tajuddin
Keywords
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