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Small and Medium Enterprise (SMEs) contributed 29.6% of GDP in Malaysia in 2005, and by 2014 its share was 35.9%. The involvement of SMEs in the Halal industry is also increasing and the business owner involved in Halal production should choose Islamic business financing. However, Islamic financing in Malaysia has been declining. This paper looks at the concept of Islamic financial literacy and to measure Islamic financial literacy. The measurement of Islamic financial literacy in this paper is based on the principle of Islamic finance, and includes concepts such as Mudarabah, Musharakah, Ijarah, Murabahah, Istisna and Quard Hassan. Through the Islamic financial intelligent (i-FiQ) the study hopes to advance Islamic finance.