The role of Islamic principles in shaping financial decision-making

Md Sawari, Siti Salwa and Ahmad, Siti Yuliandi and Md Sawari, Lukman and Mohd Samsi, Najiah (2024) The role of Islamic principles in shaping financial decision-making. International Journal of Research Publication and Reviews, 5 (6). pp. 6700-6703. ISSN 2582-7421

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Abstract

Enhancing financial literacy among secondary school students is crucial for their future economic well-being. However, financial literacy holds deeper significance within Islamic communities as it intersects with religious principles and ethical considerations. Islamic teachings emphasise honesty, responsibility, and equitable wealth distribution, shaping how individuals approach financial decision-making. This research explores how these Islamic values influence financial practices among secondary school students, aiming to contribute to financial education and integrate ethical frameworks into mainstream curricula. Drawing on previous studies that advocate for including Islamic finance principles in education, this research seeks to fill a gap by specifically examining the role of personal beliefs and values in shaping financial behaviours within Islamic contexts. By utilising quantitative methods and analysing data from a sample of 40 students, this study aims to provide practical insights for educators and policymakers to enhance financial literacy programs tailored to the needs of young Muslims. The insights gleaned from the result underscore the profound influence of personal values and religious beliefs on individuals' financial decisions in Islamic finance. The high mean scores across various statements reflect a strong adherence to principles such as seeking Allah's pleasure through financial management, prioritising ethical earning and spending practices, and viewing financial stewardship as an act of worship. These findings suggest that individuals integrate their spiritual convictions into their financial behaviors, striving for alignment between their economic activities and ethical standards derived from Islamic teachings.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Financial Literacy, Islamic Finance, Ethical Decision-Making and Islam
Subjects:	BPH Islamic Economics H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Sustainable Tourism and Contemporary Languages
Depositing User:	Dr Siti Salwa Md Sawari
Date Deposited:	02 Jul 2024 10:37
Last Modified:	02 Jul 2024 11:21
URI:	http://irep.iium.edu.my/id/eprint/112851

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