Designing a digital platform to enhance financial literacy and sustainability of Tahfiz Institutions

Many Tahfiz Institutions in Malaysia, particularly Private Tahfiz Institutions (PTIs), face considerable financial management challenges stemming from limited financial literacy among their administrators and stakeholders. This deficiency in financial knowledge, especially in alignment with Islamic finance principles, often leads to financial instability, inefficiencies, and a lack of operational transparency. To address this issue, this study employs a qualitative approach, involving site visits and in-depth interviews with management teams of selected PTIs. The primary objective of this research is to design a financial literacy app tailored to the needs of PTIs, integrating both basic financial knowledge and skills grounded in Islamic finance. The proposed financial literacy using the digital platform is expected to equip PTIs’ management teams with essential financial tools and competencies, promoting financial sustainability within these institutions. The Tahfiz Financial Literacy App demonstrates strong commercialization potential, offering a range of opportunities, including licensing, strategic partnerships, short certification courses, and sponsored content. It is anticipated that the app could extend its impact beyond individual institutions, evolving into a widely recognized and scalable tool for financial empowerment in Islamic educational settings.