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The effect of financial literacy and financial capability on the interest in social investment-based cash waqf linked Sukuk investment
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December 26, 2024
Accepted
December 31, 2024
Published
December 31, 2024
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Abstract

Introduction
The Cash Waqf Linked Sukuk (CWLS) represents an innovative instrument that combines Islamic philanthropy and investment principles to support social development. Despite its potential, Generation Z's participation in CWLS remains limited, presenting a challenge for its broader adoption.
Objectives
This study examines the influence of financial literacy and financial capability on Generation Z's interest in CWLS investments. It seeks to identify the key barriers and enablers shaping investment behavior in the context of Islamic social finance.
Method
Using a quantitative approach, data were collected from 100 Generation Z respondents in Yogyakarta through structured questionnaires. Multiple regression analysis was employed to assess the relationship between financial literacy, financial capability, and investment interest in CWLS.
Results
The findings indicate that financial literacy and financial capability have significant positive effects on investment interest in CWLS. Respondents with higher financial literacy demonstrated greater awareness of CWLS benefits, while stronger financial capability enabled practical decision-making. However, issues of trust in waqf management and limited awareness of CWLS were identified as barriers to participation.
Implications
The results underscore the importance of targeted financial education, transparency in waqf management, and innovative outreach strategies to enhance CWLS adoption. These insights are critical for policymakers, educators, and financial institutions in promoting Islamic social finance.
Originality/Novelty
This study contributes to the growing body of knowledge on Islamic social finance by exploring the unique dynamics of Generation Z's engagement with CWLS. It highlights actionable strategies to address barriers and foster greater participation in waqf-based investments.

Keywords

cash waqf linked Sukuk financial capability financial literacy social investment-based investment Sukuk waqf

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Copyright (c) 2024 Ulfi Sheila Pinasti, Siti Achiria

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How to Cite
Pinasti, U. S. ., & Achiria, S. (2024). The effect of financial literacy and financial capability on the interest in social investment-based cash waqf linked Sukuk investment. Journal of Islamic Economics Lariba, 10(2), 999–1020. https://doi.org/10.20885/jielariba.vol10.iss2.art20
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