Exploring Youth Engagement with the Sharia Capital Market: A Social Media-Driven Analysis of Financial Literacy and Inclusion in Indonesia

Abstract

This study investigates the role of social media, particularly Instagram, in shaping financial literacy and inclusion among young investors in Indonesia's Sharia capital market. Using data collected via web crawlers (BrandMentions) between August and September 2024, the research analyzes 3,188 mentions related to Sharia-compliant investments and evaluates user engagement, including likes, shares, and comments. Sentiment analysis reveals that most discussions were positive, driven by educational content and influencer posts, though challenges related to financial inclusion and platform accessibility remain. Despite the Sharia capital market accounting for 60.08% of Islamic financial assets in Indonesia, financial literacy and inclusion indices remain significantly lower than those for conventional finance. This study highlights the potential of social media to bridge these gaps, while identifying the need for further educational initiatives and user-friendly financial platforms to ensure broader participation in Sharia-compliant investments. The findings suggest that digital platforms play a critical role in advancing financial inclusion and literacy, positioning Indonesia to expand its leadership in the global Islamic finance market