The impact of: financial literacy, religious belief, brokerage firms on Palestinian investors’ behavior (Exploratory Study on the individual investors in the Gaza Strip)

Abstract:

The study aims to examine the effect of financial literacy, religious belief, and brokerage firms on the investors’ behavior in Gaza strip through distributing 63 questionnaires to investors who are in brokerage firms’ offices, then making statistical analysis by SPSS program.

The study found that the financial literacy level of investors is low, where there are misunderstanding in investing concepts and the risks resulted. Also, they depend on the media, rumors and following-up shares personally to make investment decisions. Also, it resulted that the weak confidence between investors and brokerage firms when making investment decisions. As the religious beliefs play important role in investors’ decisions.

The study advices to offer qualified staffs to providing financial suggestions to investors. Also, the need for the financial Market Authority to allow the brokerage firm to expand its services to include portfolio management, financial analysis, and providing financial and investment literacy courses for investors.