Cultivating Change: Examining the Influence of Financial Management Courses on the Financial Practices of Asnaf

This study examines the effect of financial management workshops on the financial knowledge and practices of Asnaf, i.e. a vulnerable population who can receive Zakat (i.e. an obligatory form of charity in Islam) aid in Malaysia. After completing a tailored financial management workshop, 31 participants as selected by The Kedah State Zakat Board (LZNK), responded to surveys assessing their financial knowledge, attitudes, and practices both prior to and following the workshop. Many participants demonstrated some of the most severe financial challenges in terms of burdened debt, reliance on loans, and being unable to afford necessities for their families. Results suggest that the participants improved their ability to set financial goals, develop budgets, and make sound financial decisions as a result of the workshop. There was also an improvement in the overall attitude of the participants toward effectively dealing with financial challenges and planning for the future. This study fills the gap in the effectiveness of financial literacy programs aimed at fostering responsible financial conduct among Asnaf individuals. The findings highlight the need for more focused financial literacy programs aimed at aiding financially vulnerable communities as a policy solution to reduce dependence on social assistance.