Islamic Financial Literacy and Financial Resilience Among Generation Z: Integrating Maqasid al-Shari‘ah and The Theory of Planned Behavior
Abstract
Generation Z increasingly makes financial decisions through digital services such as Buy Now Pay Later (BNPL), yet financial knowledge alone does not ensure responsible behavior or financial resilience. This study aims to explain how Islamic financial literacy (IFL) can contribute to the financial resilience of Generation Z by integrating Maqasid al-Shari’ah, specifically hifz al-mal (preservation of wealth), with the Theory of Planned Behavior (TPB). A Systematic Literature Review (SLR) was conducted following the PRISMA 2020 protocol; 47 peer-reviewed studies were retained after screening and quality appraisal with the Mixed Methods Appraisal Tool (MMAT) and were synthesized thematically and conceptually. The reviewed literature points to four recurring vulnerabilities among Generation Z (overconsumption, BNPL dependency, social-media-induced financial pressure, and inadequate emergency savings), to limited attention to ethical and self-regulatory dimensions in conventional financial literacy, and to a gap between ethical awareness and behavior in IFL. On this basis, the study proposes the Islamic Financial Resilience Framework (IFRF), in which TPB explains how attitude, subjective norm, and perceived behavioral control shape intention and behavior, while hifz al-mal, mas’uliyyah (responsibility), and wasa?iyyah (moderation) provide the normative orientation of that process and digital financial socialization is positioned as a moderator. The study concludes that IFL is more plausibly related to resilience through awareness, attitude, intention, and behavior than directly. Because the framework is conceptual and its eight propositions remain untested, empirical validation is required.
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DOI: https://doi.org/10.56114/al-sharf.v7i3.13594
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