Islamic and Conventional Financial Literacy: Systematic and Bibliometric Literature Analyses

Abstract

This paper conducts a comprehensive systematic and bibliometric review to find compatibilities and discordances in the literature concerning Islamic and conventional financial literacy. Using PRISMA-P record retrieval protocols, a total of 1,824 papers comprising 1,625 conventional and 199 Islamic financial literacy (IFL) research papers were extracted from the Scopus database and selected for bibliometric analysis. The VOSviewer software was used to construct and visualise bibliometric networks of publications in leading academic journals, individual publications, citations, and the extent of academic collaboration between institutions, authors and countries. Results reveal that IFL research is in its infancy relative to its conventional counterpart. There is lack of substantial collaborative research engagement between leading conventional research institutions, authors and countries and research in IFL tends to be very insular. There remains huge potential for collaborative works among scholars across borders that could exponentially increase the volume of research in the IFL domain. This paper, to the best knowledge of the researchers, is the first research to address this absence in the field of IFL. It provides a convenient starting base for scholars to expand their research remit in other areas of this vital field of study.