The Role of Religious Beliefs in Shaping Investment Intentions of Muslim Women

Abstract Islam offers justice and equality for women. There exists equitable opportunity for all genders. The laws of Islam and their intended purpose do not justify the relatively low position of Muslim women. In Islam, a woman is seen as a fully autonomous individual. She is capable of executing any contract or bequest in her name. She is entitled to inherit under her roles as mother, wife, and daughter. A Muslim woman retains ownership and control over her property, even post-marriage. Spouses possess no entitlements to one another's assets. A married woman has complete authority to enter into contracts and assume responsibilities. Hence, the purpose of the study was to evaluate the role of religious beliefs in shaping the investment intentions of Muslim women. The findings of the research indicated that Various behavioral and attitudinal elements clearly show the important influence of Islamic beliefs on the investing intentions of Muslim women. Because of their religious convictions, many Muslim women deliberately forgo interest-based investments and choose Sharia-compliant financial solutions. Finding more security and trust in Islamic financial organizations, they frequently consult religious academics before deciding what to invest in. Mostly because of religious limitations, there is considerable unwillingness to invest in traditional stock markets. Usually avoided are investments in companies connected to pork, gambling, or alcohol as these industries are regarded as non-compliant with Islamic values. These women, who live according to their convictions, think that Islamic finance presents moral and environmentally friendly investing options. Their financial decisions have been greatly shaped by their religious background and education, which also support a taste for halal-certified financial goods and a dedication to morally righteous investments.