Perceived Islamic financial knowledge, Islamic financial service utilization, and women’s economic empowerment among women micro-and small-enterprise owners in Jambi
DOI:
https://doi.org/10.22437/ppd.v14i3.50991Keywords:
Islamic finance, Islamic financial knowledge, financial service utilization, women’s empowerment, MSMEsAbstract
This study examines the relationships between perceived Islamic financial knowledge, Islamic financial service utilization, and women’s economic empowerment among women micro- and small-enterprise owners in Jambi Province, Indonesia. It distinguishes respondents’ perceived knowledge of Islamic finance from their self-reported use of Islamic financial products and services. A quantitative cross-sectional design was employed, supplemented by follow-up semi-structured interviews to provide contextual insight into the quantitative findings. Survey data were collected from 149 women entrepreneurs operating micro and small enterprises with prior experience using Islamic financial services and were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). We then conducted follow-up semi-structured interviews with 12 purposively selected survey participants to contextualize the observed relationships. The results show that perceived Islamic financial knowledge and Islamic financial service utilization are both positively and significantly associated with women’s economic empowerment. Islamic financial service utilization exhibits the larger estimated association, suggesting that more extensive reported use of Islamic financial services is more closely associated with empowerment than perceived financial knowledge alone. Participants in the follow-up interviews described institutional reach, financing procedures, digital access, and business assistance as contextual conditions that may facilitate or constrain the use of Islamic financial services. By empirically distinguishing perceived financial knowledge from self-reported service utilization, this study provides a more precise account of their respective relationships with women’s economic empowerment. The findings suggest that practical Islamic financial education should be complemented by measures that facilitate the informed, sustained, and productive use of appropriate Islamic financial services among women-owned micro and small enterprises.
References
Alfarizi, M., Kamila Hanum, R., Andriana Firmansyah, A., & Wusqo, U. (2023). Digital banking dalam akselerasi pemberdayaan ekonomi womenpreneur Indonesia: Eksplorasi sosial-ekonomi dan peran LPS berbasis PLS-SEM. Jurnal Magister Ekonomi Syariah, 2(2), 1–32. https://doi.org/10.14421/jmes.2023.022-01
Alfarizi, M., & Ngatindriatun. (2022). Determination of the intention of MSMEs owners using Sharia cooperatives in improving Indonesian Islamic economic empowerment. Jurnal Ekonomi Syariah Teori dan Terapan, 9(6), 834–849. https://doi.org/10.20473/vol9iss20226pp834-849
Ali, M. M., Sakti, M. R. P., & Devi, A. (2019). Developing an Islamic financial inclusion index for Islamic banks in Indonesia: A cross-province analysis. Journal of Islamic Monetary Economics and Finance, 5(4), 691–712. https://doi.org/10.21098/jimf.v5i4.1098
Apriantoro, M. S., Herviana, J., Yayuli, Y., & Suratno, S. (2023). Sharia financial literacy: Research trends and directions for future inquiry. Journal of Islamic Economic Laws, 6(2), 19–40. https://doi.org/10.23917/jisel.v6i2.22396
Arilia, R. A., & Lestari, W. (2022). Peran self control sebagai mediasi literasi keuangan dan kesejahteraan keuangan wanita karir. Journal of Business and Banking, 12(1), 69. https://doi.org/10.14414/jbb.v12i1.2984
Bajaj, I., & Kaur, M. (2022). Validating multi-dimensional model of financial literacy using confirmatory factor analysis. Managerial Finance, 48(9/10), 1488–1512. https://doi.org/10.1108/MF-06-2021-0285
Bakhtiar, F., Prayoga, R., & Mulya, A. (2022). Analisis literasi keuangan dan financial technology terhadap inklusi keuangan pada pelaku UMKM perempuan. AKUNTABEL, 19(2), 260–268. https://doi.org/10.30872/jakt.v19i2.11178
Barus, E. E., Syahrial, M., Muchtar, E. H., & Trianto, B. (2023). Islamic financial literacy, Islamic financial inclusion and micro-business performance. Revista Mexicana de Economía y Finanzas, 19(1), 1–24. https://doi.org/10.21919/remef.v19i1.967
BPS Provinsi Jambi. (2026). Keadaan ketenagakerjaan Provinsi Jambi November 2025. https://jambi.bps.go.id/id/pressrelease/2026/02/05/838/tingkat-pengangguran-terbuka--tpt--november-2025-sebesar-4-08-persen.html
Budianto, I. D. (2023). Overview inklusi keuangan: Studi literasi keuangan syariah terhadap masyarakat. Moderasi: Journal of Islamic Studies, 2(2), 220–233. https://doi.org/10.54471/moderasi.v2i2.34
Carpena, F., Cole, S., Shapiro, J., & Zia, B. (2019). The ABCs of financial education: Experimental evidence on attitudes, behavior, and cognitive biases. Management Science, 65(1), 346–369. https://doi.org/10.1287/mnsc.2017.2819
Dianda, P., Thiombiano, N., & Nézan Okey, M. K. (2025). Barriers to financial inclusion and socioeconomic determinants in West African Economic and Monetary Union (WAEMU) countries: A multivariate analysis. SN Business & Economics, 5(9), 114. https://doi.org/10.1007/s43546-025-00889-6
Duflo, E. (2012). Women empowerment and economic development. Journal of Economic Literature, 50(4), 1051–1079. https://doi.org/10.1257/jel.50.4.1051
Faul, F., Erdfelder, E., Buchner, A., & Lang, A.-G. (2009). Statistical power analyses using G*Power 3.1: Tests for correlation and regression analyses. Behavior Research Methods, 41(4), 1149–1160. https://doi.org/10.3758/BRM.41.4.1149
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203
Henseler, J., Ringle, C. M., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the Academy of Marketing Science, 43(1), 115–135. https://doi.org/10.1007/s11747-014-0403-8
Hermawan, A., Gunardi, A., & Sari, L. M. (2022). Intention to use digital finance MSMEs: The impact of financial literacy and financial inclusion. Jurnal Ilmiah Akuntansi dan Bisnis, 17(1), 171-182. https://doi.org/10.24843/JIAB.2022.v17.i01.p12
Hong, P. Y. P., Shin, A., Wathen, M. V., & Gibbons, T. (2023). Transforming Impossible into Possible (TIP) for financial capability: Application of practice-based program theory and measures in intervention design. Research on Social Work Practice, 33(6), 695–710. https://doi.org/10.1177/10497315231179643
Kabeer, N. (1999). Resources, agency, achievements: Reflections on the measurement of women’s empowerment. Development and Change, 30(3), 435–464. https://doi.org/10.1111/1467-7660.00125
Kadir, R. D., Tri Wahyudi, S., Maski, G., & Devia Sagita Sumantri, V. (2025). The role of financial inclusion in reducing household poverty: Insights from Eastern Indonesia. Cogent Economics & Finance, 13(1). https://doi.org/10.1080/23322039.2025.2588925
Kahfi, A., Oktaviani, Y., Fadilah, N., & Mahmudi, I. (2024). Transformasi pemberdayaan ekonomi perempuan: Strategi pemberdayaan kelompok wanita tani berbasis ekonomi Islam di Desa Sri Bandung, Banyuasin. Jurnal Hukum Ekonomi Syariah: AICONOMIA, 3(2), 107–121. https://doi.org/10.32939/acm.v3i2.4366
Khandakar, H., Hasnat, M. A., Rahman, M. A., Aubhi, R. U. H., Babur, A., & Hasan, K. K. (2025). Reforming Islamic financial standards for inclusive and sustainable development: A Maturidi creed perspective on behaviour, equity and justice. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES-04-2025-0186
Lestari, E. D., Kurniasari, F., Pratiwi, P. Y., Thilaga, S., & Ooi, B. W. (2025). Empowering women entrepreneurs: The role of financial literacy, inclusion, and access in enhancing MSE’s performance and sustainability via women development program in Indonesia. Cogent Business & Management, 12(1). https://doi.org/10.1080/23311975.2025.2593078
Maksum, M., Muflih, M., Rohman, M. M., Injaz, F., & Sanrego, Y. D. (2025). Why do women micro-entrepreneurs adopt Islamic digital financing? Perspectives from UTAUT, trust and Sharia compliance. Journal of Islamic Marketing, 16(12), 3509–3539. https://doi.org/10.1108/JIMA-03-2023-0087
Nasiruddin, M., Husen, M. N., & Umam, S. (2024). Peran wanita dalam pengembangan ekonomi mikro syariah di Indonesia. TIJAROTANA: Jurnal Ekonomi dan Bisnis Syariah, 5(2). https://doi.org/10.64454/tj.v5i02.73
Nesneri, Y., Novita, U., Irdayanti, & Azwar. (2023). Analisis literasi keuangan syariah pada masyarakat Riau. Jurnal Tabarru’: Islamic Banking and Finance, 6(1), 255-268. https://doi.org/10.25299/jtb.2023.vol6(1).13455
Pradini, A. Y., & Faozan, A. (2023). Sharia financial literacy and inclusion: Opportunities and challenges. Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah, 8(2), 205. https://doi.org/10.24235/jm.v8i2.15406
Pranitasari, D., Harini, S., Nugroho, S. H., Harahap, S. S., & Sudiarso, A. (2026). Digitalization and financial inclusion among women-led micro and small enterprises in Indonesia: An empirical perspective. Frontiers in Sociology, 11. https://doi.org/10.3389/fsoc.2026.1813070
Putri, M. N. (2022). Literasi keuangan syariah dan kinerja UMKM. Milkiyah: Jurnal Hukum Ekonomi Syariah, 1(2), 81–87. https://doi.org/10.46870/milkiyah.v1i2.240
Rahmatia, A., Wijaya, A. P., Saputra, A. D., & Ma’ruf, M. I. (2022). Islamic financial literacy: Evidence from Indonesian urban middle-class women. Journal of Islamic Economic Laws, 5(2), 199–215. https://doi.org/10.23917/jisel.v5i2.18467
Ray, D., Rout, H. S., & Ray, P. (2020). How do households utilize banking services and what are the determinants of it? An empirical analysis from the rural and tribal areas of an eastern Indian state. Journal of Public Affairs, 22(2), e2520. https://doi.org/10.1002/pa.2520
Rohatgi, S., & Gera, N. (2025). The augmenting role of digital banking in reconstructing women’s economic empowerment. International Journal of Bank Marketing, 43(2), 209–238. https://doi.org/10.1108/IJBM-01-2024-0010
Rohmania, A. S., Sholihah, E., & Nurhapsari, R. (2023). Developing Islamic financial literacy in improving Islamic financial behavior towards the financial well-being of MSMEs: The moderating effect of e-payment usage. Journal of Islamic Economics Lariba, 9(2), 293–310. https://doi.org/10.20885/jielariba.vol9.iss2.art2
Rohmayanti, S. A. A., Samsuri, A., & Fitrianto, A. R. (2021). Analisis literasi keuangan syariah pada pemberdayaan ekonomi UMKM binaan Bank Indonesia Kantor Wilayah Jawa Timur. Muslim Heritage, 6(2), 377–403. https://doi.org/10.21154/muslimheritage.v6i2.3131
Ropiah, S. (2025). Implications of Islamic law on credit-based sales in reducing social and economic inequalities in society. Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi dan Keagamaan, 12(1), 185. https://doi.org/10.29300/mzn.v12i1.7091
Sarstedt, M., Hair, J. F., Pick, M., Liengaard, B. D., Radomir, L., & Ringle, C. M. (2022). Progress in partial least squares structural equation modeling use in marketing research in the last decade. Psychology & Marketing, 39(5), 1035–1064. https://doi.org/10.1002/mar.21640
Shmueli, G., Sarstedt, M., Hair, J. F., Cheah, J.-H., Ting, H., Vaithilingam, S., & Ringle, C. M. (2019). Predictive model assessment in PLS-SEM: Guidelines for using PLSpredict. European Journal of Marketing, 53(11), 2322–2347. https://doi.org/10.1108/EJM-02-2019-0189
Showkat, M., Nagina, R., Baba, M. A., & Yahya, A. T. (2025). The impact of financial literacy on women’s economic empowerment: Exploring the mediating role of digital financial services. Cogent Economics & Finance, 13(1). https://doi.org/10.1080/23322039.2024.2440444
Soemitra, A., Kusmilawaty, & Rahma, T. I. F. (2022). The role of Micro Waqf Bank in women’s micro-business empowerment through Islamic social finance: Mixed-method evidence from Mawaridussalam Indonesia. Economies, 10(7), 157. https://doi.org/10.3390/economies10070157
Suryanti, N., Yuanitasari, D., Judiasih, S. D., & Assalihee, M. (2025). Empowering women entrepreneurs in MSMEs: The role of legal advocacy in overcoming gender barriers. Indonesian Journal of Advocacy and Legal Services, 7(1), 1–34. https://doi.org/10.15294/ijals.v7i1.8663
Suwarsi, A. A., Sharfina, A. G., & Anggraeni, A. (2022). Portrait of MSMEs’ Islamic financial literacy and the impact on business development. Afkaruna: Indonesian Interdisciplinary Journal of Islamic Studies, 18(1). https://doi.org/10.18196/afkaruna.v18i1.12991
Tubastuvi, N., Nur Ainun, R., Purwidianti, W., & Zamakhsyari, L. (2024). Enhancing MSME: Exploring the relationship between financial literacy, financial inclusion, and capital access to improve performance. Airlangga Journal of Innovation Management, 5(1), 1–16. https://doi.org/10.20473/ajim.v5i1.53990
Turco, E., Robba, M., & Iannello, P. (2024). La Multidimensional Financial Literacy Scale: Proposta di un nuovo strumento per la misurazione della financial literacy. Ricerche di Psicologia, (3), 63–88. https://doi.org/10.3280/rip2023oa18192
Wulandari, M., Anwar, M. K., & Munir, M. (2024). Pemberdayaan ekonomi perempuan melalui program Bank BTPN Syariah: Studi literatur. El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam, 5(12). https://doi.org/10.47467/elmal.v5i12.5366
Yadav, R. S., & Kalluru, S. R. (2024). Principal–agent trust and adoption of digital financial services: Evidence from India. Economic Notes, 53(3). https://doi.org/10.1111/ecno.12247
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Ari Dean Amri, Paulina Lubis, Nurida Isnaeni, Heni Pratiwi, Dica Lady Silvera, Vivi Paramita Suardi
This work is licensed under a Creative Commons Attribution 4.0 International License.
