Scintific Journal of "Islamic Finance Researches" (IFR)

Investigating the Factors Affecting Islamic Financial Literacy Using DANP Technique

Document Type : Science - Research (Islamic Financial Theory)

Authors

1 Ph.D. in Financial Management, Tehran University, Tehran, Iran

2 Assistant Professor, Business Management Department, University of Bojnord , Bojnord, Iran

3 Assistant Professor, Management Department, Meybod University, Meybod, Iran

Abstract

Financial literacy is considered as one of the human capitals that plays an important role in influencing financial behavior. In order to develop Islamic financial products, Islamic financial literacy must be strengthened to support people's financial decisions. The purpose of this study is to identify and analyze the most important factors affecting Islamic financial literacy in Iran using DANP (The Dematel based Analytic Network Process) technique. Therefore, first, by studying the archives and carefully reviewing various sources, the most important factors affecting Islamic financial literacy were identified. Then These factors were presented to experts in the form of a pairwise comparison questionnaire for ranking. They included university professors and experts in Islamic financial markets. Finally, five of the most important of these factors were analyzed. The results of the research show that social factors are the most important. Also, Islamic financial attitude, culture, religious affiliations, friends and peers and Islamic financial knowledge are the most important sub-factors affecting Islamic financial literacy in Iran.

Keywords

 
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Scintific Journal of
Volume 11, Issue 1 - Serial Number 21
February 2021
Pages 75-110
  • Receive Date: 01 January 2022
  • Revise Date: 11 February 2022
  • Accept Date: 08 March 2022