Islamic Financial Literacy among Malaysian Lecturers: A Preliminary Study

Islamic financial literacy is increasingly recognized as a crucial component of financial well-being, particularly in countries with significant Muslim populations. However, there is limited research on the level of Islamic financial literacy within the academic community in Malaysia. This preliminary study seeks to fill that gap by assessing the Islamic financial literacy of university lecturers in Malaysia, with a focus on their knowledge of money basics, Islamic banking, Takaful, and Shariah-compliant investment. The study also investigates variations in literacy levels across different demographic groups, including gender, educational backgrounds, and fields of study. To achieve this objective, a self-developed questionnaire was designed to measure key components of Islamic financial literacy. Data were collected from a representative sample of university lecturers and analyzed using SPSS 23.0. Descriptive statistics and inferential analyses were employed to explore trends and significant differences within the data. The findings indicate that the overall level of Islamic financial literacy among the lecturers is moderate. Additionally, the analysis identified statistically significant differences in literacy levels based on gender, educational attainment, and field of study, with some groups outperforming others in specific aspects of Islamic finance. This study contributes to the growing body of knowledge on financial literacy in Malaysia and offers a robust methodology for measuring and analyzing Islamic financial literacy, which can be a valuable resource for other researchers exploring similar topics.