Awareness of Islamic Financial Planning Among Science and Technology Students in Higher Learning Institutions

Abstract

Muslims are encouraged to plan their economic and financial affairs to attain the maqasid Shariah aims, which leads to al-Falah. Islamic financial planning is one of the methods for achieving this purpose. This research examined the awareness and comprehension of Islamic financial planning among Science and Technology students in higher learning institutions. It employed a qualitative approach via in-depth interviews and ATLAS.ti was used to analyse the data. Four themes emerged from the data: the concept and knowledge of Islamic financial planning, Islamic financial literacy, and awareness of Islamic financial planning. The findings revealed that most Science and Technology students recognise and employ the values of Islamic financial planning; however, some do not practice it due to a lack of exposure. This study provides valuable insights for future research on Islamic financial planning. Consequently, it aims to educate Muslims and encourages policymakers to acknowledge the necessity for Islamic financial planning, particularly among university students.