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Islamic religiosity and Islamic financial asset holdings (IFAH)

Purpose: This paper aims to examine the relationship between Islamic religiosity and Islamic financial asset holdings (IFAH) among Muslim individuals in Malaysia. Design/methodology/approach: Data for this study were collected through a survey questionnaire, and a sample of 751 working Muslims in Ku...

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Main Authors: Zainudin, Rozaimah, Mahdzan, Nurul Shahnaz, Che Hashim, Rosmawani, Sulaiman, Noor Adwa
Format: Article
Published: Emerald 2019
Subjects:
BP Islam. Bahaism. Theosophy, etc
HG Finance
Banking
Online Access:http://eprints.um.edu.my/22914/
https://doi.org/10.1108/JIABR-04-2016-0052
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spelling my.um.eprints.229142019-11-01T08:37:09Z http://eprints.um.edu.my/22914/ Islamic religiosity and Islamic financial asset holdings (IFAH) Zainudin, Rozaimah Mahdzan, Nurul Shahnaz Che Hashim, Rosmawani Sulaiman, Noor Adwa BP Islam. Bahaism. Theosophy, etc HG Finance Banking Purpose: This paper aims to examine the relationship between Islamic religiosity and Islamic financial asset holdings (IFAH) among Muslim individuals in Malaysia. Design/methodology/approach: Data for this study were collected through a survey questionnaire, and a sample of 751 working Muslims in Kuala Lumpur was obtained. Islamic religiosity was measured via religiosity levels and religiosity dimensions. IFAH was measured as the fraction of Islamic financial assets held in a financial portfolio. A generalized linear model (GLM) was used to estimate the relationships. Findings: The results show that religiosity level influences the IFAH. Devout Muslims held more Islamic financial assets than casual Muslims. All religiosity dimensions influenced IFAH, with faith having the greatest influence and virtues the least. Educational level strongly influenced IFAH. Research limitations/implications: The sample consisted of working Muslims in Kuala Lumpur; hence, generalization cannot be made to all Malaysian Muslims. This study only focused on Islamic financial assets and did not consider other types of Islamic financial products, such as financing. Practical implications: Efforts to encourage Muslims to opt for Islamic financial assets may be more effective if they begin from the core of religious education. Educating individuals on Islamic principles, including the values and concepts of Islamic finance, is important to encourage the Islamic banking industry to prosper among Muslims. Originality/value: The paper provides an extension of current literature on spirituality and religion by incorporating a comprehensive measure of Islamic religiosity and its relationship with financial asset holdings. Emerald 2019 Article PeerReviewed Zainudin, Rozaimah and Mahdzan, Nurul Shahnaz and Che Hashim, Rosmawani and Sulaiman, Noor Adwa (2019) Islamic religiosity and Islamic financial asset holdings (IFAH). Journal of Islamic Accounting and Business Research, 10 (4). pp. 591-606. ISSN 1759-0817 https://doi.org/10.1108/JIABR-04-2016-0052 doi:10.1108/JIABR-04-2016-0052
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
topic BP Islam. Bahaism. Theosophy, etc
HG Finance
Banking
spellingShingle BP Islam. Bahaism. Theosophy, etc
HG Finance
Banking
Zainudin, Rozaimah
Mahdzan, Nurul Shahnaz
Che Hashim, Rosmawani
Sulaiman, Noor Adwa
Islamic religiosity and Islamic financial asset holdings (IFAH)
description Purpose: This paper aims to examine the relationship between Islamic religiosity and Islamic financial asset holdings (IFAH) among Muslim individuals in Malaysia. Design/methodology/approach: Data for this study were collected through a survey questionnaire, and a sample of 751 working Muslims in Kuala Lumpur was obtained. Islamic religiosity was measured via religiosity levels and religiosity dimensions. IFAH was measured as the fraction of Islamic financial assets held in a financial portfolio. A generalized linear model (GLM) was used to estimate the relationships. Findings: The results show that religiosity level influences the IFAH. Devout Muslims held more Islamic financial assets than casual Muslims. All religiosity dimensions influenced IFAH, with faith having the greatest influence and virtues the least. Educational level strongly influenced IFAH. Research limitations/implications: The sample consisted of working Muslims in Kuala Lumpur; hence, generalization cannot be made to all Malaysian Muslims. This study only focused on Islamic financial assets and did not consider other types of Islamic financial products, such as financing. Practical implications: Efforts to encourage Muslims to opt for Islamic financial assets may be more effective if they begin from the core of religious education. Educating individuals on Islamic principles, including the values and concepts of Islamic finance, is important to encourage the Islamic banking industry to prosper among Muslims. Originality/value: The paper provides an extension of current literature on spirituality and religion by incorporating a comprehensive measure of Islamic religiosity and its relationship with financial asset holdings.
format Article
author Zainudin, Rozaimah
Mahdzan, Nurul Shahnaz
Che Hashim, Rosmawani
Sulaiman, Noor Adwa
author_facet Zainudin, Rozaimah
Mahdzan, Nurul Shahnaz
Che Hashim, Rosmawani
Sulaiman, Noor Adwa
author_sort Zainudin, Rozaimah
title Islamic religiosity and Islamic financial asset holdings (IFAH)
title_short Islamic religiosity and Islamic financial asset holdings (IFAH)
title_full Islamic religiosity and Islamic financial asset holdings (IFAH)
title_fullStr Islamic religiosity and Islamic financial asset holdings (IFAH)
title_full_unstemmed Islamic religiosity and Islamic financial asset holdings (IFAH)
title_sort islamic religiosity and islamic financial asset holdings (ifah)
publisher Emerald
publishDate 2019
url http://eprints.um.edu.my/22914/
https://doi.org/10.1108/JIABR-04-2016-0052
_version_ 1651867375417425920
score 13.211869

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