Banda Aceh University research links market literacy to sharia stock interest and highlights digital zakat fundraising’s

A study by Irfan Kamil at Universitas Islam Negeri Ar‑Raniry Banda Aceh found that higher capital‑market literacy and lower risk perception significantly increase residents’ willingness to invest in sharia‑compliant stocks, with risk perception being the strongest driver.

A separate analysis by Muhammad Reza Fahmi at the same university examined the Baitul Mal’s zakat‑fundraising strategies in the digital era. The research shows that fundraising remains dominated by direct, face‑to‑face approaches, and that success depends on transparency, quality of digital services, public financial literacy, and enduring traditional zakat‑distribution practices.