Analysis Of Islamic Financial Literacy On Investment Behavior In The Indonesian Islamic Capital Market Using Vosviewer
Keywords:
Islamic Financial Literacy; Investment Behavior; Islamic Capital Markets; Islamic Finance; Investor DecisionmakingAbstract
The rapid advancement of digital technology has accelerated structural changes in Islamic financial markets, particularly through the development of Islamic financial technology (Islamic fintech). This study aims to analyze the role of Islamic fintech in supporting market efficiency, shaping investor behavior, and strengthening Sharia-compliant financial practices. The research employs a systematic literature review combined with bibliometric analysis using VOSviewer to map research trends, thematic structures, and knowledge development in Islamic fintech studies. A total of peer-reviewed articles published between 2020 and 2025 were selected from reputable national and international academic databases. The findings indicate that Islamic fintech contributes to improved market efficiency by enhancing information accessibility, reducing transaction costs, and increasing financial inclusion. Digital platforms also influence investor behavior by enabling faster and more informed investment decision-making while reinforcing trust through transparent and Sharia-compliant mechanisms. Nevertheless, the study identifies persistent challenges related to regulatory readiness, governance quality, and the effectiveness of Sharia supervision in the digital environment. This research contributes to the literature by providing a structured overview of Islamic fintech development and highlighting critical research gaps, particularly in digital Sharia governance and regulatory frameworks. The findings offer practical implications for regulators, practitioners, and scholars in promoting a sustainable, efficient, and Sharia-compliant Islamic financial ecosystem in the digital era.
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