Sharia Financial Literacy and MSME Financial Decision-Making: A Theoretical Review
DOI:
https://doi.org/10.31943/afkarjournal.v9i3.3549Keywords:
Islamic Financial Literacy, Islamic Fintech, MSMEsAbstract
The low level of Islamic financial literacy among Micro, Small, and Medium Enterprises (MSMEs) actors constitutes a fundamental obstacle to the quality of financial decision-making based on Islamic principles. This study aims to construct a theoretical framework of Islamic financial literacy, identify mediating factors linking it to MSME financial decisions, and formulate an integrative conceptual model grounded in Islamic economics. A qualitative library research method was employed, utilizing content analysis of ten relevant and current scientific literature sources. The findings reveal that Islamic financial literacy constitutes a three-dimensional construct encompassing knowledge, skills, and Islamic conviction. Identified mediating factors include mental accounting, risk mitigation, Islamic financial inclusion, and Islamic fintech adoption. The integrative model formulated based on maqashid al-syariah principles affirms that sustainable MSME development requires holistic and collaborative strengthening of Islamic financial literacy. This study contributes theoretically by offering a novel analytical framework bridging conventional financial literacy theory with Islamic economic principles in the Indonesian MSME context.
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Copyright (c) 2026 Kumaidi Kumaidi, Darul Qotni Abbas, Sirajudin Al Aksari, Oktami Achni, Fauziah Nur Hutauruk
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