DO SOCIO-DEMOGRAPHIC CHARACTERISTICS AND ISLAMIC FINANCIAL LITERACY MATTER FOR SELECTING ISLAMIC FINANCIAL PRODUCTS AMONG COLLEGE STUDENTS IN INDONESIA?

  • Salma Fadhilah Widityani Institut Teknologi Bandung
  • Taufik Faturohman
  • Raden Aswin Rahadi
  • Yulianti Yulianti

Abstract

The purposes of this study are to determine the factors that construct Islamic financial literacy among the college students in Indonesia, along with the measurement of the level of Islamic financial literacy and its relationship with socio-demographic characteristics and the possession of Islamic financial product. This study proposes the measurement of the determinant factors that construct Islamic financial literacy by using factor analysis along with the measurement of the index and level of Islamic financial literacy among the college students. It also attempts to explore the influence of socio-demographic characteristics toward Islamic financial literacy using multiple linear regression. Furthermore, the relationship between socio-demographic characteristics and Islamic financial literacy toward the possession of Islamic financial product among the college students is examined using logistic regression. The determinant factors that constructed in this study are: perception, attitude & behavior, and knowledge. After that, those factors will be used to determine the level of Islamic financial literacy among the college students in Indonesia. The study found that institution, Islamic finance course-experienced and education level of master's degree have a significant relationship with Islamic financial literacy of the college students, while the others socio-demographic characteristics are not. As for the factors that have a significant relationship with the possession of Islamic financial product are major, Islamic finance course-experienced, and monthly income above five million. The study found no significant relationship between Islamic financial literacy and the possession of Islamic financial product.

Published
2020-03-10
How to Cite
Widityani, S., Faturohman, T., Rahadi, R., & Yulianti, Y. (2020). DO SOCIO-DEMOGRAPHIC CHARACTERISTICS AND ISLAMIC FINANCIAL LITERACY MATTER FOR SELECTING ISLAMIC FINANCIAL PRODUCTS AMONG COLLEGE STUDENTS IN INDONESIA?. Journal of Islamic Monetary Economics and Finance, 6(1). https://doi.org/10.21098/jimf.v6i1.1057
Section
Articles