The significance of financial literacy for family wealth management : a critical study from maqasid perspective
Joint Authors
Mahmud, Mek Wok
Diniyy, Aulia Arifatu
Yasin, Raudlotul Firdaus Fatah
Source
Issue
Vol. 17, Issue 3 (s) (31 Oct. 2020), pp.198-215, 18 p.
Publisher
International Islamic University Malaysia
Publication Date
2020-10-31
Country of Publication
Malaysia
No. of Pages
18
Main Subjects
Abstract EN
Financial literacy has a tremendous impact on sustaining family financial man-agement.
lack of financial knowledge may lead to arising financial problems within the family which also may affect the personal relationship and working performance of its members.
managing wealth realizes the maqasid shariah, hifz al-mal (preservation of wealth) to ensure the sustainable life of every individual and hifz al-nafs (preservation of life.
this study addresses the importance of financial literacy in the dynamic envi-ronment of household financial management to avoid family problems such as divorce, financial arguments and broken family which would be contradictory to the intent of the shariah.
the literature on financial literacy and family financial management were criti-cally reviewed and used in an attempt to highlight the financial issues within the family.
this paper explores financial literacy in family financial management as well as the conflicts that arise from financial problems.
considering the urgency of financial litera-cy in the dynamic environment of household financial management, it aims to create awareness and propose recommendation on promoting the financial literacy in manag-ing household’s finance as part of the preservation of maqasid in Malaysia context.
American Psychological Association (APA)
Diniyy, Aulia Arifatu& Yasin, Raudlotul Firdaus Fatah& Mahmud, Mek Wok. 2020. The significance of financial literacy for family wealth management : a critical study from maqasid perspective. Journal of Islam in Asia،Vol. 17, no. 3 (s), pp.198-215.
https://search.emarefa.net/detail/BIM-1284450
Modern Language Association (MLA)
Diniyy, Aulia Arifatu…[et al.]. The significance of financial literacy for family wealth management : a critical study from maqasid perspective. Journal of Islam in Asia Vol. 17, no. 3 (Special issue) (2020), pp.198-215.
https://search.emarefa.net/detail/BIM-1284450
American Medical Association (AMA)
Diniyy, Aulia Arifatu& Yasin, Raudlotul Firdaus Fatah& Mahmud, Mek Wok. The significance of financial literacy for family wealth management : a critical study from maqasid perspective. Journal of Islam in Asia. 2020. Vol. 17, no. 3 (s), pp.198-215.
https://search.emarefa.net/detail/BIM-1284450
Data Type
Journal Articles
Language
English
Record ID
BIM-1284450