IMPACT OF ISLAMIC FINANCIAL LITERACY ON FINANCIAL RETIREMENT PLANNING INTENTION AMONGST INDONESIAN MUSLIM STUDENT IN A MALAYSIAN UNIVERSITY

Kurnia, Zahra Nabila and Syed Musa, Alhabshi and Redzuan, Nur Harena (2021) IMPACT OF ISLAMIC FINANCIAL LITERACY ON FINANCIAL RETIREMENT PLANNING INTENTION AMONGST INDONESIAN MUSLIM STUDENT IN A MALAYSIAN UNIVERSITY. In: International Conference On Islamic Financial Literacy 2021 (ICiFIL 2021), 07 Jul 2021 End Date : 08 Jul 2021, ZOOM (ONLINE). (Unpublished)

	PDF (Full paper accepted for the conference) - Accepted Version Restricted to Repository staff only Download (494kB) | Request a copy
	PDF (Paper acceptance from Conference Committee) - Supplemental Material Restricted to Repository staff only Download (903kB) | Request a copy
	PDF (Certificate to presenter - Zahra Nabila, Syed Musa, Nur Harena) - Supplemental Material Restricted to Repository staff only Download (336kB) | Request a copy
	PDF (ICiFIL 2021 Program Book) - Supplemental Material Restricted to Repository staff only Download (2MB) | Request a copy
	PDF (Best paper award - Zahra Nabila, Syed Musa & Nur Harena) - Supplemental Material Restricted to Repository staff only Download (613kB) | Request a copy

Abstract

A longer investment horizon period will benefit the youth in actualizing their financial wellbeing in their post-employment period. It is important to identify the younger generation's intentions, who are represented by university students, regarding their financial retirement planning in the near future. Besides, an expected longer employment life span of young Muslims should be equipped with an adequate level of Islamic financial literacy to create accurate Shariah-compliant financial decisions, including their retirement interests. Therefore, this study aims to measure the Islamic Financial Literacy (IFL) among Indonesian Muslim students in International Islamic University Malaysia (IIUM). The study also examines the impact of IFL and several demographic factors which are gender, age, marital status, and education level toward the intention of having voluntary Shariah retirement savings. The data were collected from 150 undergraduate and postgraduate students. Using the ordinal logistic regression method, the results of the study reveal that IFL positively affects the intention of having voluntary Shariah retirement savings. The impact of the demographic factors on the intention has been found as insignificant. Correspondingly, this study will assist the policymakers, industry players, and financial educators in developing policies related to Shariah retirement savings products, making commercial decisions, and developing strategies to enhance people's awareness of Islamic retirement planning. Furthermore, it will enrich the academic literature and for further research, specifically concerning Islamic retirement planning among youth, which lacks empirical studies.

Item Type:	Conference or Workshop Item (Plenary Papers)
Uncontrolled Keywords:	Islamic retirement planning, Islamic financial literacy, Ordinal logistic regression, Indonesia.
Subjects:	H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Nur Harena Redzuan
Date Deposited:	22 Dec 2021 14:50
Last Modified:	22 Dec 2021 14:50
URI:	http://irep.iium.edu.my/id/eprint/95155

Actions (login required)

View Item