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All Journal Li Falah: Jurnal Studi Ekonomi dan Bisnis Islam
Alaka, Abdullahi
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Humanities Decision Sciences, Operations Research & Management Social Sciences

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Investigating the Role of Islamic Finance Literacy on Youths’ Economic Empowerment in Nigeria Alaka, Abdullahi; Kewulere, Adam; Emiola, Habeeb
Li Falah: Journal of Islamic Economics and Business Vol. 10 No. 1 (2025): June 2025
Publisher : Institut Agama Islam Negeri Kendari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31332/lifalah.v10i1.11597

Abstract

This study investigates the role of Islamic finance literacy in promoting economic empowerment among youths in Nigeria. Despite growing interest in Islamic finance, there remains a notable gap between theoretical understanding and practical application among Nigerian youth. The research identifies this gap as an obstacle to meaningful economic empowerment, especially in rural areas. A structured questionnaire was employed to gather data from a diverse sample of young respondents across Nigeria, assessing their awareness, understanding, and practical engagement with Islamic finance principles. The findings reveal that while many youths value the ethical and financial principles of Islamic finance, a lack of exposure and institutional support significantly limits their ability to leverage these tools for economic advancement. Notably, responses from urban areas were more informed, highlighting the need for inclusive strategies that target rural populations. The study finds strong correlations between Islamic finance literacy and youth empowerment outcomes, revealing the importance of integrated educational approaches. The research contributes new insights to the field by advocating for strategic collaboration between educational and Islamic finance institutions to develop inclusive literacy programs. It concludes that effective Islamic finance education can catalyze sustainable youth economic empowerment in Nigeria.
Impact Analysis of Islamic Economics on Economic Growth: A Cross-Country Evidence Alaka, Abdullahi
Li Falah: Journal of Islamic Economics and Business Vol. 9 No. 2 (2024): December 2024
Publisher : Institut Agama Islam Negeri Kendari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31332/lifalah.v1i1.11581

Abstract

This study aims to assess the impact of Islamic economics, specifically through Islamic financial instruments like sukuk, murabaha, and musharaka, on economic growth in selected Muslim-majority countries (Indonesia, Libya, Malaysia, Nigeria, Qatar, and Saudi Arabia) over the period 2013-2021. The research addresses a gap in the literature, as previous studies have mainly focused on theoretical frameworks or the adoption of Islamic finance without fully examining its relationship with economic growth. Using a quantitative approach, the study employs a co-integration test and the Panel Random Effects Model to analyze the data. The findings show that Islamic financial instruments significantly contribute to economic growth, with a 1% increase in these instruments leading to a 0.0039% rise in GDP. Additionally, governance effectiveness and population growth positively affect economic growth. The study concludes that Islamic economics can serve as a viable alternative to conventional systems, promoting sustainable development. The research suggests that policymakers should focus on increasing public awareness of Islamic finance and removing regulatory barriers to harness its full potential for economic growth.
Co-Authors Emiola, Habeeb Kewulere, Adam