Debates over the role that Islam plays in women’s economic empowerment are widespread both globally and among Muslims themselves. Some scholarship takes an orientalist tone, arguing that Islamic doctrine and/or culture is inherently restrictive to women. More recent scholarship argues that Islam is open to diverse interpretations, many of which are empowering for women. The contention that Islam provides a mixed heritage in terms of women’s empowerment raises an interesting puzzle – how does religiosity impact Muslim women’s economic self-efficacy and success? The current paper examines the relationship between religiosity, self-efficacy, and entrepreneurial success among Tunisian women entrepreneurs using an interdisciplinary approach combining the “toolkit” model of culture in sociology and affect theory in psychology. Statistical analyses on data collected on 138 Tunisian women entrepreneurs from August 2013 to February 2014 suggest, contrary to essentialist scholarship, that religiosity is positively associated with both self-efficacy and entrepreneurial success. Further, results show trait negative affect moderates the relationship between religiosity and self-efficacy; religiosity has a negative relationship with self-efficacy for women with high negative affect but a positive relationship with self-efficacy for women with low negative affect. This suggests individual personality traits are important determinants for how women interpret the mixed messages they receive in religious discourses.