The Influence of Islamic Financial Literacy and Social Environment on Saving Intentions in Islamic Banking: A Case Study of Economics and Business Students at Universitas Sumatera Utara

This study examines the influence of Islamic financial literacy and social environment on students' interest in saving at Islamic banks in Indonesia. A quantitative survey of 100 students at Universitas Sumatera Utara, analyzed using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS), reveals that both Islamic financial literacy and social factors, including religiosity, peer influence, and societal norms, significantly impact saving behavior, with social factors having a stronger effect. The research highlights challenges in improving students' Islamic financial knowledge and advocates for targeted educational programs. It suggests that aligning Islamic banking services with students' social and religious values can enhance saving intentions. The findings contribute to understanding how education and social environments shape financial behavior in the Islamic banking sector and propose strategies to enhance financial literacy for inclusive growth.

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Publication Details

Journal
American Journal of Economics and Business Management
Published
2024-09-09
DOI
https://doi.org/10.31150/ajebm.v7i8.2911
Primary Topic
Islamic Finance and Banking Studies
Type
article
Field-Weighted Citation Impact
0.00
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article

The Influence of Islamic Financial Literacy and Social Environment on Saving Intentions in Islamic Banking: A Case Study of Economics and Business Students at Universitas Sumatera Utara

Wahyu Sugeng Imam Soeparno, Walad Altsani HR, Widya Sartika Hasibuan, T. Wulan Suci Khairina
American Journal of Economics and Business Management
Islamic Finance and Banking Studies
article

The Influence of Islamic Financial Literacy and Social Environment on Saving Intentions in Islamic Banking: A Case Study of Economics and Business Students at Universitas Sumatera Utara

Wahyu Sugeng Imam Soeparno, Walad Altsani HR, Widya Sartika Hasibuan, T. Wulan Suci Khairina
article en

Abstract

This study examines the influence of Islamic financial literacy and social environment on students' interest in saving at Islamic banks in Indonesia. A quantitative survey of 100 students at Universitas Sumatera Utara, analyzed using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS), reveals that both Islamic financial literacy and social factors, including religiosity, peer influence, and societal norms, significantly impact saving behavior, with social factors having a stronger effect. The research highlights challenges in improving students' Islamic financial knowledge and advocates for targeted educational programs. It suggests that aligning Islamic banking services with students' social and religious values can enhance saving intentions. The findings contribute to understanding how education and social environments shape financial behavior in the Islamic banking sector and propose strategies to enhance financial literacy for inclusive growth.

American Journal of Economics and Business ManagementVol. 7(8)
Universitas Sumatera Utara (ID)
Openalex Percentile: Top 72%
Islamic Finance and Banking Studies
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The Influence of Islamic Financial Literacy and Social Environment on Saving Intentions in Islamic Banking: A Case Study of Economics and Business Students at Universitas Sumatera Utara — Wahyu Sugeng Imam Soeparno, Walad Altsani HR, et al. · American Journal of Economics and Business Management (2024) | TGRS Research Map | TGRS