Islamic financial literacy among bankers in Kuala Lumpur / Mohamad Azmi Abdullah and Alex Anderson

Abdullah, Mohamad Azmi and Alex, Anderson (2015) Islamic financial literacy among bankers in Kuala Lumpur / Mohamad Azmi Abdullah and Alex Anderson. Journal of Emerging Economies and Islamic Research, 3 (2). pp. 1-16. ISSN 2289-2559

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Abstract

This article presents the findings on the study that determines the factors which influence financial literacy of bankers around Kuala Lumpur in term of Islamic financial products. The Governor of Central Bank of Malaysia pointed out several years ago that in order to make Islamic financial products acceptable to a wider spectrum of investors and businesspeople alike, financial literacy on Islamic financial products need to be enhanced. This is to facilitate transactions, with a clear understanding and appreciation of the unique characteristics and features of Islamic Finance and its real economic value. However, to date there is scarcity in the studies of Islamic financial literacy in Malaysia. This is proven when Kayed (2008) queries if there are any attempts by the research community to assess levels of Islamic financial literacy in various Muslim communities. In addition, Ahmad (2010) also points out the importance of Islamic financial literacy. These issues have actually motivated the current study to review available literatures on financial literacy mainly focusing on the Islamic financial literacy. The objectives of this study are (i) determine if the bankers possess adequate financial literacy to undertake financial decision with respect to Islamic financial products and services, and (ii) identify the significant factors that influence Islamic financial literacy among bankers. Factor analysis is used in order to identify those factors that indicate banker’s Islamic financial literacy. The findings reveal that nine factors determine banker’s financial literacy on Islamic financial products and services.

Item Type: Article
Uncontrolled Keywords: Financial Literacy, Financial Knowledge, Knowledge on Islamic Financial Products
Subjects: H Social Sciences > HG Finance > Personal finance. Financial literacy > Malaysia
H Social Sciences > HG Finance > Banking > Malaysia
H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance
H Social Sciences > HJ Public Finance > Finance, Islamic
Divisions: Faculty of Business and Management
Depositing User: Staf Pendigitan 1
Date Deposited: 15 Aug 2017 02:48
Last Modified: 15 Aug 2017 02:48
URI: http://ir.uitm.edu.my/id/eprint/12380

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