Islamic financial literacy scale: an amendment in the sphere of contemporary financial literacy

Purpose This study aims to develop a valid and reliable Islamic financial literacy (IFL) scale that can capture all the segments of sectors which could be considered applicable for jurisdictions across globe. Design/methodology/approach To build measure, this followed development process by collecting 698 priori items from 81 respondents. Later, it generated an item pool through analysis with experts gave last form (40 items) 287 respondents in Turkey another IFL is frequently used literature assessing religiosity. With explanatory factor analysis, demonstrates four-factor construct 20 items. provides good fit indexes reliability scores. Findings Results correlation comparison alternative structures provided supportive evidence discriminant convergent validity its sub-dimensions. As result, developed countries where institutions are operating they not. Originality/value One strengths represents comprehensive entire system, including banking, tak?ful (Islamic insurance) fund management. In addition, attempt design any economy or individual pioneering literature.