ENHANCING SOCIOECONOMIC RESILIENCE AND EMPOWERMENT THROUGH DIGITAL FINANCIAL LITERACY: A COMPREHENSIVE REVIEW OF STRATEGIES, OUTCOMES, AND FUTURE DIRECTIONS

Syahidawati Shahwan; Nurdiyana Sabrina Abdul Rahman; Kasumalinda Alwi

Authors

Syahidawati Shahwan Islamic Finance and Wealth Management Institute, Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), Nilai, Negeri Sembilan, Malaysia
Nurdiyana Sabrina Abdul Rahman Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), Nilai, Negeri Sembilan, Malaysia
Kasumalinda Alwi Islamic Finance and Wealth Management Institute, Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), Nilai, Negeri Sembilan, Malaysia

Keywords:

digital financial literacy, socioeconomic resilience, financial inclusion, technological innovations, policy frameworks, digital divides, financial empowerment

Abstract

This review explores the crucial role of digital financial literacy in strengthening socioeconomic resilience and empowering vulnerable populations. It discusses the evolution of financial education through digital platforms, strategies such as policy frameworks, community-based initiatives, and technological innovations like AI and blockchain. The analysis underscores the positive outcomes of digital financial literacy programs, including enhanced financial inclusion, reduced poverty, and improved decision-making. Furthermore, the review examines future directions aimed at overcoming digital divides, ensuring ethical standards, and integrating behavioral insights to optimize program effectiveness. Highlighting key research contributions and policy implications, this paper underscores the importance of a multi-stakeholder approach to foster sustainable socioeconomic development through digital financial literacy.

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