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Islamic Financial Literacy and its Effect on Financial Choices

Merve Büşra Altundere ()

Journal of BRSA Banking and Financial Markets, 2020, vol. 14, issue 1, 69-98

Abstract: Financial system has become a prevalent part of the modern economic life. In parallel to this, Islamic finance is also improving and standing out as an integral component of the financial system in the Islamic world. This study examines Islamic financial literacy and its contribution to the expansion of Islamic financial system in Turkey. In the light of a survey conducted among university students, this paper measures the Islamic financial literacy level; and analyzes its determinants together with its relation to the financial literacy through a linear regression method. Moreover, this paper, by conducting a binary logistic regression analysis, shows that a higher level of Islamic financial literacy leads to a higher probability of choosing Islamic banks.

Keywords: Financial literacy; Islamic financial literacy; Islamic financial system; Household finance. (search for similar items in EconPapers)
JEL-codes: C31 C35 D14 I20 (search for similar items in EconPapers)
Date: 2020
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Handle: RePEc:bdd:journl:v:14:y:2020:i:1:p:69-98