Factors determining islamic financial literacy among Bankers in Kuala Lumpur and Labuan
This article presents the findings on the study that determine the factors which influence financial literacy of bankers around Kuala Lumpur in term of Islamic financial products. The Governor of Central Bank of Malaysia pointed out several years ago that in order to make Islamic financial products...
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| Main Authors: | , |
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| Format: | Research Report |
| Language: | English |
| Published: |
Universiti Malaysia Sabah
2015
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| Subjects: | |
| Online Access: | https://eprints.ums.edu.my/id/eprint/22939/1/Factors%20determining%20islamic%20financial%20literacy%20among%20Bankers%20in%20Kuala%20Lumpur%20and%20Labuan.pdf https://eprints.ums.edu.my/id/eprint/22939/ |
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| Summary: | This article presents the findings on the study that determine the factors which influence financial literacy of bankers around Kuala Lumpur in term of Islamic
financial products. The Governor of Central Bank of Malaysia pointed out several years ago that in order to make Islamic financial products acceptable to a wider spectrum of Investors and businessmen alike, financial literacy on Islamic financial products need to be enhanced. This is to facilitate transactions, with a clear understanding and appreciation of the unique characteristics and features of Islamic Rnance and its real economic value. However, to date there is scarcity of the studies of Islamic financial literacy in Malaysia. This is proven when Kayed (2008) queries if there are any attempts by the research community to assess levels of Islamic financial literacy in various Muslim communities. In addition, Ahmad (2010) also points out
the Importance of Islamic financial literacy. These issues have actually motivated the current study to review available literatures on financial literacy mainly focusing on
the Islamic financial literacy. The objectives of this study are (i) to determine if the bankers possess adequate financial literacy to undertake financial decision with
respect to Islamic financial products and services, and (ii) to identify the significant factors that influence Islamic financial literacy among bankers. SEM was used to
analyze the variables that affect financial titeracy. The findings reveal that 3 factors determine banker's financial literacy on Istamic financial products and services. |
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