Validating Islamic Financial Literacy Instruments among MUM Generation: Rasch Analysis Approach

Islamic financial literacy is an emerging term which increasingly used in research and policy. Though a study this area growing, there lack of accepted method to measure literacy. This aims develop valid reliable instrument access among MUM (Muslim Urban Millennial) generations using Rasch analysis. A comprehensive literature review qualitative were initially performed identify the construct total 109 respondents from generation completed 18-item with multiple-choice questions. However, only 85 final sample out data measured after eliminating person extreme score. The dimensionality items was evaluated WINSTEPS 3.73. Results show that measurements model highly reliability alpha 0.87 0.96 for item, respectively. There also six misfit item needs be reviewed or removed. Differential Item Functioning (DIF) analysis shows three have bias between gender. Overall, developed scale validand generation. lays solid empirical theoretical foundation future