Studies of human behaviours have been conducted extensively and continuously in order to gain better understanding on how people make decisions. For Muslims, the behaviour must not deviate from the principles, demands, and standards set by Shari’ah. In the context of financial behaviour, Muslims are significantly influenced by their religious belief, particularly in distinguishing between halal (permissible) and haram (impermissible), as well as restrictions in financial dealings. Hence, Muslims are required to have a meticulous understanding of the subjects, as Shari’ah has established distinct guiding principles in financial arrangements. This paper aims to analyse the existing Islamic financial literacy literature by conceptualizing the influence of religiosity and Islamic financial knowledge on Muslim’s financial behaviours. A literature review has been undertaken for the conceptual development. The association between Islamic financial knowledge, religiosity, and Islamic financial behaviour has been established, laying the groundwork for future research. Islamic financial knowledge and religiosity have both been demonstrated to be significant in capturing Islamic financial behaviours and are therefore indispensable components of Islamic financial literacy. This paper expands the literature by increasing our understanding of Islamic financial literacy among Muslims. The findings of this study could offer the related bodies in financial knowledge and literacy like the Organisation for Economic Co-operation and Development (OECD) for international level and local agency in Malaysia like the Credit Counselling and Debt Management Agency (AKPK) with a new perspective on Muslims’ financial behaviour, by considering the role of religion and Islamic financial knowledge in order to develop effective and relevant strategies to improve financial literacy among Muslims.
Al-Qur’an.
Ab Rahman, Z., Kashim, M. I. A. M., Mohd Noor, A. Y., Saari, C. Z., Hasan, A. Z., Ridzuan, A. R., … Khairuddin, W. H. (2020). Critical Review of Positive Behavior and Resilience in Islamic Perspective during the Covid 19 Pandemic. Journal of Critical Reviews, 7(5).
Abd Ghani, Z., & Abu Mansor, N. S. (2006). Penghayatan Agama Sebagai Asas Pembangunan Pelajar: Analisis Terhadap Beberapa Pandangan Al-Imam Al-Ghazali. National Student Development Conference (NASDEC)., 1–19.
Abd Rashid, J., Abdul Aziz, A., Abdul Rahman, A., Saaid, S. A., & Ahmad, Z. (2020). The Influence of Mobile Phone Addiction on Academic Performance Among Teenagers. Jurnal Komunikasi, 36(3), 408–424.
Abdullah, M. A., Ab Wahab, S. N. A., Sabar, S., & Abu, F. (2017). Factors Determining Islamic Financial Literacy among Undergraduates. Journal of Emerging Economies & Islamic Research. https://doi.org/10.1088/0953-8984/15/4/201
Abdullah, M. A., & Anderson, A. (2015). Islamic Financial Literacy among Bankers in Kuala Lumpur. Journal of Emerging Economies and Islamic Research, 3(2), 1–14.
Abdullah, M., & Sapiei, N. S. (2018). Do Religiosity, Gender and Educational Background Influence Zakat Compliance? The Case of Malaysia. International Journal of Social Economics, 45(8), 1250–1264. https://doi.org/10.1108/IJSE-03-2017-0091
Abdullah, N., & Abd Majid, M. S. (2003). The Influence of Religiosity, Income and Consumption on Saving Behavior: The Case of International Islamic University Malaysia ( Iium ). Journal of Islamic Economics, 4(1), 37–55.
Abu-Alhaija, A. S.-A., Yusof, R. N., Hashim, H., & Jaharuddin, N. S. (2018). Religion in consumer behaviour research: the significance of religious commitment and religious Affiliation. International Journal of Economics, Commerce and Management, 7(1).
Agarwala, R., Mishra, P., & Singh, R. (2019). Religiosity and consumer behavior: a summarizing review. Journal of Management, Spirituality and Religion, 16(1), 32–54. https://doi.org/10.1080/14766086.2018.1495098
Agnew, S. (2018). Empirical measurement of the financial socialisation of children by parents. Young Consumers, 19(4), 421–431. https://doi.org/10.1108/YC-07-2017-00717
AKPK. (2018). Financial Behaviour and State of Financial Well-being of Malaysian Working Adults. Kuala Lumpur.
Al Balushi, Y., Locke, S., & Boulanouar, Z. (2019). Determinants of the decision to adopt Islamic finance: evidence from Oman. ISRA International Journal of Islamic Finance, 11(1), 6–26. https://doi.org/10.1108/IJIF-02-2018-0020
Al Mahi, A. S. M. M., Sim, C. S., & Hassan, A. F. S. (2017). Religiosity and demand for takaful (Islamic Insurance): A preliminary investigation. International Journal of Applied Business and Economic Research, 15(24), 485–499.
Alfarisi, M. F., Agestayani, & Delfiani, S. (2020). The impact of Islamic economics and finance courses on Islamic financial literacy. IQTISHADIA, 13(2), 197–215.
Alfi, C. F., & Yusuf, S. N. S. (2022). Religiosity and Saving Behavior: a Preliminary Investigation Among Muslim Students in Indonesia. Journal of Islamic Monetary Economics and Finance, 8(1), 25–48. https://doi.org/10.21098/jimf.v8i1.1440
Ali, M. M., Devi, A., Furqani, H., & Hamzah, H. (2020). Islamic Financial Inclusion Determinants in Indonesia: an ANP Approach. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-01-2019-0007
Ali, M., Raza, S. A., Puah, C. H., & Amin, H. (2019). Consumer acceptance toward takaful in Pakistan: An application of diffusion of innovation theory. International Journal of Emerging Markets, 14(4), 620–638. https://doi.org/10.1108/IJOEM-08-2017-0275
Aman, J., Abbas, J., Nurunnabi, M., & Bano, S. (2019). The Relationship of Religiosity and Marital Satisfaction: The Role of Religious Commitment and Practices on Marital Satisfaction Among Pakistani Respondents. Behavioral Sciences, 9(30), 1–13. https://doi.org/10.3390/bs9030030
Aranda, M. P. (2008). Relationship between Religious Involvement and Psychological Well-Being: A Social Justice Perspective. Health and Social Work, 33(1).
Aw, E. C., Cheah, J., Ng, S. I., & Sambasivan, M. (2018). Breaking compulsive buying- financial trouble chain of young Malaysian consumers. Young COnsumer, 19(3), 328–344. https://doi.org/10.1108/YC-11-2017-00755
Azmat, S., Azad, A. S. M. S., Bhatti, M. I., & Ghaffar, H. (2020). Islamic Banking, Costly Religiosity, and Competition. Journal of Financial Research, 43(2), 263–303. https://doi.org/10.1111/jfir.12207
Bandura, A. (1969). Principles of Behavior Modification (1st editio). New York, USA: Holt, Rinehart and Winston.
Bandura, A. (1977). Social Learning Theory (First Edit). New Jersey: Prentice Hall.
Barbera, P. A. La, & Gurhan, Z. (1997). The Role of Materialism, Religiosity, and Demographics in Subjective Well-Being. Psychology & Marketing, 14(1), 71–97.
Bartholomae, S., & Fox, J. J. (2021). A Decade Review of Research on College Student Financial Behavior and Well-Being. Journal of Family and Economic Issues, 42(1), 154–177. https://doi.org/10.1007/s10834-021-09756-6
Bensaid, B., Grine, F., Nor, M. R. M., & Yusoff, M. Y. Z. M. (2013). Enduring financial debt: An Islamic perspective. Middle East Journal of Scientific Research, 13(2), 162–170. https://doi.org/10.5829/idosi.mejsr.2013.13.2.1790
Bin-Nashwan, S. A., Al-Daihani, M., Abdul-Jabbar, H., & Al-Ttaffi, L. H. A. (2022). Social solidarity amid the COVID-19 outbreak: fundraising campaigns and donors’ attitudes. International Journal of Sociology and Social Policy, 42(3–4), 232–247. https://doi.org/10.1108/IJSSP-05-2020-0173
Biplob, H., & Abdullah, M. F. (2019). The Importance of Islamic Financial Literacy for Muslims: A General Review. Islam and Civilisational Renewal, 106–117.
Bley, J., & Kuehn, K. (2003). Conventional Versus Islamic Finance: Student Knowledge nd Perception in the United Arab Emirates. International Journal of Islamic Financial Services, 5(4).
Bowen, J. R. (1998). What is “universal” and “local” in Islam? Ethos, 26(2), 258–261.
Bukhari, S. F. H., Woodside, F. M., Hassan, R., Shaikh, A. L., Hussain, S., & Mazhar, W. (2019). Is religiosity an important consideration in Muslim consumer behavior: Exploratory study in the context of western imported food in Pakistan. Journal of Islamic Marketing, 10(4), 1288–1307. https://doi.org/10.1108/JIMA-01-2018-0006
Buren, H. J. Van, Syed, J., & Mir, R. (2019). Religion as a Macro Social Force Affecting Business: Concepts, Questions and Future Research. Business and Society, 59(5). https://doi.org/10.1177/0007650319845097
Butt, I., Ahmad, N., Naveed, A., & Zeeshan, A. (2018). Determinants of Low Adoption of Islamic Banking in Pakistan. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-01-2017-0002
Chen, H., Huang, H. H., Lobo, G. J., & Wang, C. (2016). Religiosity and the cost of debt. Journal of Banking and Finance, 70, 70–85. https://doi.org/10.1016/j.jbankfin.2016.06.005
Chowdhury, R. M. M. I., Arli, D., & Septianto, F. (2022). Consumers’ responses to moral controversies of religiously positioned brands?: the e ffects of religiosity on brand loyalty. European Journal of Marketing, 56(5), 1398–1433. https://doi.org/10.1108/EJM-11-2020-0841
Dana, K., Wilcox-archuleta, B., & Barreto, M. (2017). The Political Incorporation of Muslims in the United States: The Mobilizing Role of Religiosity in Islam. Journal of Race, Ethnicity and Politics, 2, 170–200. https://doi.org/10.1017/rep.2017.4
Delener, N. (1990). The effects of religious factors on perceived risk in durable goods purchase decisions. Journal of Consumer Marketing, 7(3), 27–38.
https://doi.org/10.1108/EUM0000000002580
Demirguc-Kunt, A., Klapper, L., & Randall, D. (2013). Islamic Finance and Financial Inclusion: Measuring Use of and Demand for Formal Financial Services among Muslim Adults. In World Bank Policy Research Working Paper. https://doi.org/10.1515/rmeef-2013-0062
Dinc, Y., Cetin, M., Bulut, M., & Jahangir, R. (2021). Islamic financial literacy scale: an amendment in the sphere of contemporary financial literacy. ISRA International Journal of Islamic Finance, 13(2), 251–263. https://doi.org/10.1108/IJIF-07-2020-0156
Er, B., & Mutlu, M. (2017). Financial Inclusion and Islamic Finance?: A Survey of Islamic Financial Literacy Index. International Journal of Islamic Economics and Finance Studies, 3(2). https://doi.org/10.25272/j.2149-8407.2017.3.2.02
Ezeh, P. C., & Nkamnebe, A. D. (2022). Determinants of Islamic banking adoption among non-Muslim customers in a Muslim zone. Journal of Islamic Accounting and Business Research, 13(4), 666–683. https://doi.org/10.1108/JIABR-10-2021-0280
Fauziah, E., Yunus, M., & Yandi, M. (2020). Santri Persis Cipada 16’s Literacy Level on School-Based Islamic Cooperatives. Advances in Social Science, Education and Humanities Research, 409, 570–574. https://doi.org/10.2991/assehr.k.200225.124
Fessler, P., Silgoner, M., & Weber, R. (2019). Financial knowledge, attitude and behavior: evidence from the Austrian Survey of Financial Literacy. Empirica. https://doi.org/10.1007/s10663-019-09465-2
Förster, M., Happ, R., & Molerov, D. (2017). Using the U.S. Test of Financial Literacy in Germany — Adaptation and validation. The Journal of Economic Education, 48(2), 123–135. https://doi.org/10.1080/00220485.2017.1285737
Fungá?ová, Z., Hasan, I., & Weill, L. (2019). Trust in banks. Journal of Economic Behavior and Organization, 157, 452–476. https://doi.org/10.1016/j.jebo.2017.08.014
Ghazali, E. M., Mutum, D. S., Waqas, M., Nguyen, B., & Ahmad-Tarmizi, N. A. (2022). Restaurant choice and religious obligation in the absence of halal logo: A serial mediation model. International Journal of Hospitality Management, 101(January 2021), 103109. https://doi.org/10.1016/j.ijhm.2021.103109
Gunawan, A., Asmuni, A., & Siregar, S. (2021). Islamic financial literacy and financial behavior: the case of Muhammadiyah community in Medan City. Journal of Accounting and Investment, 22(3), 500–516. https://doi.org/10.18196/jai.v22i3.10043
Gursoy, D., Altinay, L., & Kenebayeva, A. (2017). Religiosity and entrepreneurship behaviours. International Journal of Hospitality Management, 67, 87–94. https://doi.org/10.1016/j.ijhm.2017.08.005
Haji-Othman, Y., Yusuff, M. S. S., Saufi, M. S. A. M., & Hafsha, S. (2017). The Influence of Knowledge , Islamic Religiosity and Self- Efficacy on the Intention to Pay Income Zakat among Public Educators in Kedah , Malaysia. International Journal of Academic Research in Business and Social Sciences, 7(11), 1117–1127. https://doi.org/10.6007/IJARBSS/v7-i11/3550
Han, Z., Yeoh, E. K.-K., & Wan Ahmad, W. M. (2018). Does Religious Obligation ofMuslims inWestern China Influence Their Intention to Adopt Islamic Banking? Contemporary Chinese Political Economy and Strategic Relations: An International Journal, 4(3), 1207–1244.
Hashim, M. A. (2014). Financial Literacy Education Module for the Muslim Ummah: A Preliminary Study. TAFHIM: IKIM Journal of Islam and the Contemporary World, 7, 27–42.
Hidajat, T., & Hamdani, M. (2016). Measuring Islamic Financial Literacy. The 2nd International Research Conference on Business and Economics (IRCBE).
Hill, P. C., Pargament, K. I., Hood, R. W., Mccullough, M. E., Swyers, J. P., Larson, D. B., & Zinnbauer, B. J. (2000). Conceptualizing religion and spirituality: Points of commonality, points of departure. Journal for the Theory of Social Behaviour, 30(1), 51–77. https://doi.org/10.1111/1468-5914.00119
Hira, T. K. (2012). Promoting sustainable financial behaviour?: implications for education and research. International Journal of Consumer Studies, 36, 502–507. https://doi.org/10.1111/j.1470-6431.2012.01115.x
Hirschman, C. (1981). American Jewish Ethnicity: Its Relationship to Some Selected Aspects of Consumer Behavior. Journal of Marketing, 45, 102–110.
Holdcroft, B. (2006). What is Religiosity. Catholic Education: A Journal of Inquiry and Practice, 10(1), 89–103. https://doi.org/10.15365/joce.1001082013
Hood, R. W., Hill, P. C., & Spilka, B. (2018). The Psychology of Religion: An Empirical Approach (Fifth Edit). New York: The Guilford Press.
Husin, M. M., & Rahman, A. A. (2013). What drives consumers to participate into family takaful schemes? A literature review. Journal of Islamic Marketing, 4(3), 264–280. https://doi.org/10.1108/JIMA-04-2012-0019
Husin, M. M., & Rahman, A. A. (2016). Predicting intention to participate in family takaful scheme using decomposed theory of planned behaviour. International Journal of Social Economics, 43(12), 1351–1366. https://doi.org/10.1108/IJSE-03-2015-0074
Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs. https://doi.org/10.1111/j.1745-6606.2010.01170.x
Iannaccone, L. R. (1998). Introduction to the Economics of Religion. Journal of Economic Literature, 36(3), 1465–1496.
Ibnu Katsir, I. (2017). Tafsir Ibnu Katsir (S. A. A. R. A.-N. An-Nabi, S. M. ’Ali, S. S. ’Abdullah, & S. A. Nasyir, Eds.). Penerbit Insan Kamil.
Indirawati, E. (2006). Hubungan antara kematangan beragama dengan kecenderungan strategi coping. Jurnal Psikologi Universitas Diponegoro, 3(2), 69–92.
Iramani, R., & Lutfi, L. (2021). An integrated model of financial well-being: The role of financial behavior. Accounting, 7(3), 691–700. https://doi.org/10.5267/j.ac.2020.12.007
Islam, T., & Chandrasekaran, U. (2019). Religiosity, values and consumer behaviour: a study of young Indian Muslim consumers. Journal of Consumer Marketing, 36(7), 948–961. https://doi.org/10.1108/JCM-10-2017-2415
Jaafar, M. N., Affif, A., Amri, H., & Sahezan, C. N. (2011). A Study on the Factors Attribute to Non Participation of Zakat Income among the Muslim community in Selangor. 2nd International Conference on Business and Economic Research (2nd ICBER), 450–462.
Jamal, A., & Sharifuddin, J. (2015). Perceived value and perceived usefulness of halal labeling: The role of religion and culture. Journal of Business Research, 68(5), 933–941. https://doi.org/10.1016/j.jbusres.2014.09.020
Ji, Y. (2020). Religiosity and the adoption of formal financial services. Economic Modelling, 89(August), 378–396. https://doi.org/10.1016/j.econmod.2019.11.002
Khairuddin, W. H., Huda, M., Arif, R., Kamaluddin, M. R., & Ab Rahman, Z. (2022). Islamic Approach of Religiosity, Theory of Planned Behaviour and Self-Compassion in COVID 19 Pandemic. International Journal of Special Education, 37(3).
Khan, N., Iqbal, N., & Asfandyar. (2020). Analysing the Demand for Islamic Financial Products: The Role of Religiosity and Financial Literacy. Review of Economics and Development Studies, 6(4), 893–904. https://doi.org/10.47067/reads.v6i4.288
Kiesel, K., & Noth, F. (2016). When Debt spells Sin: Does Religiosity guard against Over-Indebtedness? Annual Conference 2016 (Augsburg): Demographic Change. Retrieved from https://icmaif.soc.uoc.gr/~icmaif/Year/2016/papers/paper_3_132.pdf
Kim, K. T., & Yuh, Y. (2018). Financial Knowledge and Household Saving: Evidence from the Survey of Consumer Finances. Family and Consumer Sciences Research Journal, 47(1), 5–24. https://doi.org/10.1111/fcsr.12270
Klein, P. O., Turk, R., & Weill, L. (2017). Religiosity vs. well-being effects on investor behavior. Journal of Economic Behavior and Organization, 138, 50–62.
https://doi.org/10.1016/j.jebo.2017.04.009
Kurt, D., Inman, J. J., & Gino, F. (2018). Religious shoppers spend less money. Journal of Experimental Social Psychology, 78, 116–124.
https://doi.org/10.1016/j.jesp.2018.03.019
Kusumawati, A., Listyorini, S., Suharyono, & Yulianto, E. (2020). The Role of Religiosity on Fashion Store Patronage Intention of Muslim Consumers in Indonesia. SAGE Open, 1–15. https://doi.org/10.1177/2158244020927035
Lahsasna, A. (2016). Framework of Islamic Financial Education and Literacy. Journal of Wealth Management and Financial Planning, 3.
Lajuni, N., Bujang, I., Yacob, Y., & Karia, A. A. (2018). Religiosity , Financial Knowledge , and Financial Behavior Influence on Personal Financial Distress. Jurnal Manajemen Dan Kewirausahaan, 20(2), 92–98. https://doi.org/10.9744/jmk.20.2.92–98
Lehrer, E. L. (2004). Religion as a Determinant of Economic and Demographic Behavior in the United States. Population and Development Review, 30(4), 707–726.
Lusardi, A., & Tufano, P. (2015). Debt literacy, financial experiences, and overindebtedness. In Journal of Pension Economics and Finance (Vol. 14).
https://doi.org/10.1017/S1474747215000232
Mahdzan, N. S., Zainudin, R., & Au, S. F. (2017). The Adoption of Islamic Banking Services in Malaysia. Journal of Islamic Marketing, 8(3), 496–512. https://doi.org/10.1108/JIMA-08-2015-0064
Mahdzan, N. S., Zainudin, R., Che Hashim, R., & Sulaiman, N. A. (2017). Islamic religiosity and portfolio allocation: the Malaysian context. International Journal of Islamic and Middle Eastern Finance and Management, 10(3), 434–452. https://doi.org/10.1108/IMEFM-11-2016-0162
Mahdzan, N. S., Zainudin, R., & Shaari, M. S. (2022). The influence of religious belief and psychological factors on borrowing behaviour among Malaysian public sector employees. Asia-Pacific Journal of Business Administration.
https://doi.org/10.1108/APJBA-10-2020-0362
Mariadas, P. A., & Murthy, U. (2017). Factors Influencing the Adoption of Islamic Banking in Malaysia. International Journal of Business and Management, 12(11), 187–193. https://doi.org/10.5539/ijbm.v12n11p187
Maryam, S. Z., Mehmood, M. S., & Khaliq, C. A. (2019). Factors influencing the community behavioral intention for adoption of Islamic banking: Evidence from Pakistan. International Journal of Islamic and Middle Eastern Finance and Management, 12(4), 586–600. https://doi.org/10.1108/IMEFM-07-2017-0179
Mathras, D., Cohen, A. B., Mandel, N., & Mick, D. G. (2016). The effects of religion on consumer behavior: A conceptual framework and research agenda. Journal of Consumer Psychology, 26(2), 298–311. https://doi.org/10.1016/j.jcps.2015.08.001
Idris, M. K., & Ayob, A. (2002). Peranan sikap dalam gelagat kepatuhan zakat pendapatan gaji. Analisis, 9(1&2), 171–191.
Mehta, P., Singh, M., Mittal, M., & Singla, H. (2022). Is knowledge alone enough for socially responsible investing? A moderation of religiosity and serial mediation analysis. Qualitative Research in Financial Markets, 14(3), 413–432. https://doi.org/10.1108/QRFM-11-2020-0218
Mohamad, J., & Che Majid, M. F. (2016). A Study on the Customer’s Acceptance Towards Islamic Banking Products Among Non-Muslim in Dual Banking System. International Journal of Management Studies, 23(1), 1–11.
https://doi.org/10.32890/ijms.23.1.2016.10463
Ali, M. M. N., Hairunnizam, W., & Ghani, N. M. N. (2004). Kesedaran Membayar Zakat Pendapatan di Kalangan Kakitangan Profesional Universiti Kebangsaan Malaysia. Islamiyyat, 26(2), 59–67.
Dali, M. N. R. S., Yousafzai, S., & Abdul Hamid, H. (2014). Functional service quality satisfaction of Islamic and conventional credit card users in Malaysia. Jurnal Pengurusan, 40, 53–67. https://doi.org/10.17576/pengurusan-2014-40-05
Mokhlis, S. (2009). Relevancy and Measurement of Religiosity in Consumer Behavior Research. International Business Research, 2(3), 75–84.
Muhamad, N., Leong, V. S., & Mizerski, D. (2015). Consumer knowledge and religious rulings on products. Journal of Islamic Marketing, 7(1), 74–94. https://doi.org/10.1108/JIMA-08-2014-0056
Muslichah, I., & Sanusi, S. (2019). The effect of religiosity and financial literacy on intention to use Islamic banking products. Asian Journal of Islamic Management (AJIM), 1(2), 85–92. https://doi.org/10.20885/ajim.vol1.iss2.art2
Newman, D. B., & Graham, J. (2018). Religion and Well-being. Handbook of Well-Being, (January).
Noar, Z. M. (2018). Knowledge on Retirement Related Financial Planning Among Employees. Revelation and Science, 08(01), 31–37.
Norhayati, W., Othman, W., Zainudin, Z. N., Che, M. A., Yassin, M., Mokhtar, O., … Mokhtar, O. (2020). Religious Appreciation and Psychological Well-Being Among Malaysian Army Religious Appreciation and Psychological Well-Being Among Malaysian Army. International Journal of Academic Research in Accounting, Finance and Management Sciences, 10(11), 229–243. https://doi.org/10.6007/IJARBSS/v10-i11/8079
Nugroho, A. P., & Apriliana, R. M. (2021). Islamic financial literacy and intention to use Gopay in Yogyakarta: extended theory of acceptance models. International Conference on Islamic Studies and Social Sciences (ICONISSS) 2021, (January). Yogyakarta.
OECD. (2016). OECD/INFE International Survey of Adult Financial Literacy Competencies. Retrieved from www.oecd.org/finance/OECD-INFE-International-Survey-of-Adult-Financial-Literacy-Competencies.pdf%0A©
Othman, Y. H.-, Yusuff, M. S. S., & Latib, M. F. A. (2018). Motivations for Paying Income Zakat among UniSHAMS’ Employees. International Journal of Academic Research in Business and Social Sciences, 8(10), 620–628. https://doi.org/10.6007/ijarbss/v8-i10/4768
Oyedokun, G. E. (2017). Religion and Financial Economy of the World?: How the Present Reflect True Godliness By. (January 2016). https://doi.org/10.2139/ssrn.2913147
Paciotti, B., Richerson, P., Baum, B., Lubell, M., Waring, T., McElreath, R., … Edsten, E. (2015). Are Religious Individuals More Generous, Trusting, and Cooperative? An Experimental Test of the Effect of Religion on Prosociality. The Economics of Religion: Anthropological Approaches, 267–305.
Peifer, J. L. (2014). Fund Loyalty Among Socially Responsible Investors?: The Importance of the Economic and Ethical Domains. Journal of Business Ethics, 121(4), 635–649. https://doi.org/10.1007/s10551-013-1746-7
Potrich, A. C. G., Viera, K. M., & Silva, W. M. Da. (2016). Development of a financial literacy model for a university students. Management Research Review, 39(3).
Ramli, Z., Nyirop, H. B. A., Sum, S. M., & Awang, A. H. (2022). The Impact of Financial Shock, Behavior, and Knowledge on the Financial Fragility of Single Youth. Sustainability, 14(8), 1–13. https://doi.org/10.3390/su14084836
Ratnasari, R. T., Ula, U. F., & Sukmana, R. (2021). Can store image moderate the influence of religiosity level on shopping orientation and customers’ behavior in Indonesia? Journal of Islamic Accounting and Business Research, 12(1), 78–96. https://doi.org/10.1108/JIABR-01-2017-0006
Renneboog, L., & Spaenjers, C. (2012). Religion, economic attitudes, and household finance. Oxford Economic Papers, 64(1), 103–127. https://doi.org/10.1093/oep/gpr025
Rizal, H., & Amin, H. (2017). Perceived ihsan, Islamic egalitarianism and Islamic religiosity towards charitable giving of cash waqf. Journal of Islamic Marketing, 8(4), 669–685. https://doi.org/10.1108/JIMA-05-2015-0037
Robb, C. A., & Sharpe, D. L. (2009). Effect of personal financial knowledge on college students ’ credit card behavior. Journal of Financial Counseling and Planning, 20(1).
Roberts, J. A., & David, M. E. (2019). Holier than thou: Investigating the relationship between religiosity and charitable giving. International Journal of Nonprofit and Voluntary Sector Marketing, 24(1), 1–8. https://doi.org/10.1002/nvsm.1619
Rughoobur-Seetah, S., Hosanoo, Z., & Soupramanien, L. D. B. (2022). Financial independence of women – the impact of social factors on women empowerment in small island developing states (SIDS). Interntaional Journal of Organizational Analysis. https://doi.org/10.1108/IJOA-10-2021-2980
Saad, R. A. J., Farouk, A. U., Wahab, M. S. A., & Ismail, M. (2019). What Influence Entreprenuer to Pay Islamic Tax (Zakat)? Academy of Entrepreneurship Journal, 25(1), 1–14.
Sabri, M. F., & Falahati, L. (2014). Toward a Framework of Financial Wellness Determinants?: Investigating the Moderating Effect of Religion. Australian Journal of Basic and Applied Sciences, 8(9), 275–281.
Safira, N., & Rahadi, R. A. (2020). A Conceptual Study on Categorising the Money Management Behavior?: Study of Millennial in Bandung and Jabodetabek Indonesia. Asian Journal of Research in Business and Management, 2(4), 99–109.
Saptasari, K., & Aji, H. M. (2020). Factors affecting Muslim non-customers to use Islamic bank: Religiosity, knowledge, and perceived quality. Jurnal Ekonomi & Keuangan Islam, 6(2).
Sarofim, S., Minton, E., Hunting, A., Bartholomew, D. E., Zehra, S., Montford, W., … Paul, P. (2020). Religion’s Influence on the Financial Well-being of Consumers: A Conceptual Framework and Research Agenda. Journal of Consumer Affairs. https://doi.org/10.1111/joca.12315
Saroglou, V., Delpierre, V., & Dernelle, R. (2003). Values and religiosity: A meta-analysis of studies using Schwartz’s model. Personality and Individual Differences, 37(4), 721–734. https://doi.org/10.1016/j.paid.2003.10.005
Satsios, N., Hadjidakis, S., Sotiropoulos, I., & Tsounis, N. (2020). Religiosity and Intention towards Saving of a Muslim Minority in Greece. Asian Culture and History, 12(1), 28. https://doi.org/10.5539/ach.v12n1p28
Schwartz, S. H. (1992). Universals in the content and structure of values: Theoretical advances and empirical tests in 20 countries. Advances in Experimental Social Psychology, 25(C), 1–65. https://doi.org/10.1016/S0065-2601(08)60281-6
Setiawati, R., Nidar, S. R., Anwar, M., & Masyita, D. (2018). Islamic Financial Literacy: Construct Process and Validity. Academy of Strategic Management Journal, 17(4), 1–12.
Setyowati, A., Harmadi, H., & Sunarjanto, S. (2018). Islamic Financial Literacy and Personal Financial Planning?: A Socio-Demographic Study. 22(1), 63–72.
Shafinar, I., Arnida, J., Nadiah, M. S. A., Rozana, O., Naina, M. R., & Syazwani, K. N. (2015). Determinants of Savings Behaviour Among Muslims in Malaysia: An Empirical Investigation. In R. Omar, H. Bahrom, & G. de Mello (Eds.), Islamic perspectives relating to business, arts, culture and communication (pp. 275–283). https://doi.org/10.1007/978-981-287-429-0
Sherif, M., & Shaairi, N. A. (2013). Determinants of demand on family Takaful in Malaysia. Journal of Islamic Accounting and Business Research, 4(1), 26–50. https://doi.org/10.1108/17590811311314276
Shweder, R. A. (1991). Thinking through cultures: Expeditions in cultural psychology. Cambridge: Harvard University Press.
Singh, J., Singh, G., Kumar, S., & Mathur, A. N. (2021). Religious influences in unrestrained consumer behaviour. Journal of Retailing and Consumer Services, 58(December 2019), 102262. https://doi.org/10.1016/j.jretconser.2020.102262
Stromback, C., Lind, T., Skagerlund, K., Västfjäll, D., & Tinghög, G. (2017). Does self-control predict financial behavior and financial well-being? Journal of Behavioral and Experimental Finance, 14, 30–38. https://doi.org/10.1016/j.jbef.2017.04.002
Suhartanto, D., Dean, D., Sarah, I. S., Hapsari, R., Amalia, F. A., & Suhaeni, T. (2021). Does religiosity matter for customer loyalty? Evidence from halal cosmetics. Journal of Islamic Finance, 12(8), 1521–1534. https://doi.org/10.1108/JIMA-03-2020-0069
Suhartanto, D., Farhani, N. H., Muflih, M., & Setiawan. (2018). Loyalty intention towards Islamic Bank: The role of religiosity, image, and trust. International Journal of Economics and Management, 12(1), 137–151.
Swiecka, B. (2019). A theoretical framework for financial literacy and financial education. In O. W.-K. Beata ?wiecka, Aleksandra Grzesiuk, Dieter Korczak (Ed.), Financial Literacy and Financial Education: Theory and Survey. https://doi.org/10.1515/9783110636956-001
Ismail, S. H. (2017). Mengurus Antara Keluarga dan Kerjaya Organisasi: Analisis Melalui Pendekatan al-Tadayyun, al-Maqasid and al-Wasatiyyah. Akademika, 87(3), 197–210.
Tang, N., & Baker, A. (2016). Self-Esteem, Financial Knowledge and Financial Behavior. Journal of Economic Psychology, 54, 164–176. https://doi.org/10.1016/j.joep.2016.04.005
Urban, C., Schmeiser, M., Collins, J. M., & Brown, A. (2020). The effects of high school personal financial education policies on financial behavior. Economics of Education Review, 78, 1–12. https://doi.org/10.1016/j.econedurev.2018.03.006
Usman, H., Chairy, C., & Projo, N. W. K. (2021). Impact of Muslim decision-making style and religiosity on intention to purchasing certified halal food. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-01-2021-0027
Usman, H., Tjiptoherijanto, P., Balqiah, T. E., & Agung, I. G. N. (2017). The role of religious norms, trust, importance of attributes and information sources in the relationship between religiosity and selection of the Islamic bank. Journal of Islamic Marketing, 8(2), 158–186. https://doi.org/10.1108/JIMA-01-2015-0004
Uysal, A., & Okumus, A. (2019). Impact of religiosity on ethical judgement: a study on preference of retail stores among consumers. Journal of Islamic Marketing, 10(4), 1332–1350. https://doi.org/10.1108/JIMA-07-2018-0131
Walstad, W. B., & Rebeck, K. (2017). The Test of Financial Literacy: Development and measurement characteristics. The Journal of Economic Education, 48(2), 113–122. https://doi.org/10.1080/00220485.2017.1285739
Weisfeld-Spolter, S., Sussan, F., Rippe, C., & Gould, S. (2018). Integrating affect, cognition, and culture in Hispanic financial planning. International Journal of Bank Marketing, 36(4), 726–743. https://doi.org/10.1108/IJBM-09-2017-0201
Wilson, J. A. J., & Liu, J. (2011). The challenges of Islamic branding: Navigating emotions and halal. Journal of Islamic Marketing, 2(1), 28–42.
https://doi.org/10.1108/17590831111115222
Xiao, J. J. (2008). Applying Behavior Theories to Financial Behavior. Handbook of Consumer Finance Research, 69–81.
Yong, C., Yew, S., & Wee, C. (2018). Financial Knowledge , Attitude and Behaviour of Young Working Adults in Malaysia. Institutions and Economies, 10(4), 21–48.
Yunchao, C., Yusof, S. A., Mohd, R. M., & Arshad, M. N. M. (2020). Household debt and household spending behavior: evidence from Malaysia. Jurnal Ekonomi Malaysia, 54(1), 111–120.
Yusoff, R., & Kamdari, N. A. M. (2014). Selection Factors of the Acceptance Al-Ijarah Thumma Al Bay (AITAB) in Kota Bharu, Kelantan. Malaysian Journal of Business and Economics, 1(2), 23–50.
Zaman, Z., Mehmood, B., Aftab, R., Siddique, M. S., & Ameen, Y. (2017). Role of Islamic Financial Literacy in the Adoption of Islamic Banking Services: An Empirical Evidence from Lahore, Pakistan. Journal of Islamic Business and Management, 7(2). https://doi.org/10.26501/jibm/2017.0702-006
In-Text Citation: (Nawi et al., 2022)
To Cite this Article: Nawi, F. A. M., Aziz, M. R. A., & Shahwan, S. (2022). Conceptualizing the Influence of Religiosity and Islamic Financial Knowledge on Islamic Financial Behaviours. International Journal of Academic Research in Business and Social Sciences, 12(11), 2478– 2496.
Copyright: © 2022 The Author(s)
Published by Knowledge Words Publications (www.kwpublications.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
