The Importance of Designing Islamic Financial Education M-Learning for Increasing Islamic Financial Literacy

Most of Indonesia’s population is Muslim, but many are trapped in RIBA. Muslim MSEs must improve their financial literacy by sticking to Islamic norms to avoid insolvency. This study aims to assess MSEs’ Islamic financial literacy, attitudes toward Islamic financial institutions, how essential Islamic financial education is, and the needs analysis to build acceptable mobile learning-based Islamic finance education media. A qualitative descriptive method is used. Observations, questionnaires, and interviews were conducted to determine Islamic financial literacy and its needs. Then, it performed a literature review to discover successful and relevant mobile learning application designs for financial education. The collected data from 200 MSEs in five cities reveals the following: 1) The majority of MSEs are less literate in Islamic financial literacy but have a neutral perception of Islamic financial institutions; 2) The majority of them believe Islamic finance education is critical; and 3) Their top five learning needs are marketing techniques, understanding the dangers of RIBA, experiences of other entrepreneurs, diagnosing business risk, and managing finances well. Android knowledge management apps can satisfy their needs. To the author’s knowledge, no research focuses more on developing android applications in Islamic finance education that can suit the demands of MSEs.