Toward Islamic Financial Resilience: A Maqashid al-Shariah Perspective on Digital Financial Capability and Financial Behaviour

Ansar Sahabi; Fadhilah Linti Olilingo; Laras Ayu Sekarrini; Mohamad Rinaldi Djakaria; Silvy Windha Mediaswari

Authors

Ansar Sahabi Politeknik Kebangsaan Author
Fadhilah Linti Olilingo Politeknik Kebangsaan Author
Laras Ayu Sekarrini Universitas Muhammadiyah Gorontalo Author
Mohamad Rinaldi Djakaria Politeknik Kebangsaan Author
Silvy Windha Mediaswari Politeknik Kebangsaan Author

Keywords:

Digital financial capability, Financial behaviour, Financial self-efficacy, Islamic financial resilience, Maqashid al-Shariah

Abstract

Digital financial capability is increasingly recognized as a driver of financial inclusion, yet the sequential behavioural mechanism through which digital financial capability is translated into Islamic financial resilience remains largely unexplored. This study aims to examine the sequential behavioural mechanism through which Digital Financial Capability contributes to Islamic Financial Resilience by integrating Social Cognitive Theory and the Maqashid al-Shariah perspective. Survey data were collected from 278 Muslim MSME owners in Gorontalo, Indonesia, and analysed using Partial Least Squares Structural Equation Modeling. The results support a sequential behavioural pathway in which Digital Financial Capability is progressively translated into Islamic Financial Resilience through Digital Financial Literacy, Financial Self-Efficacy, and Financial Behaviour, with the complete pathway remaining significant despite its comparatively smaller magnitude. The comparatively lower explanatory power for Financial Self-Efficacy suggests that the transition from knowledge to confidence involves influences beyond digital financial literacy alone. The findings suggest that policymakers, Islamic financial institutions, and MSME support agencies should design digital financial literacy programmes that strengthen financial self-efficacy and responsible financial behaviour rather than focusing solely on knowledge provision. By integrating Social Cognitive Theory with a digital capability framework, this study proposes a sequential behavioural model explaining the development of Islamic financial resilience. The findings extend Islamic FinTech research beyond its predominantly adoption-oriented focus by demonstrating that digital financial capability contributes to resilience only through literacy, self-efficacy, and responsible financial behaviour.

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