Attributes for humanitarian sukuk: Evidence from ASEAN Countries


  • Amirul Afif Muhamat Faculty of Business and Management, Universiti Teknologi MARA
  • Nurul Fathiyah Kamarul Bahrin Faculty of Management and Information Technology, Universiti Sultan Azlan Shah, 33000 Kuala Kangsar, Perak, Malaysia
  • Mohamad Nizam Jaafar Arshad Ayub Graduate Business School, UiTM, 40450 Shah Alam, Malaysia
  • Arief Wibisono Lubis Faculty of Economics & Business, Universitas Indonesia, 16424 West Java, Indonesia



Indonesia, Malaysia, Humanitarianism, Sukuk


Humanitarianism was never entirely resolved, and it continues to pose a severe threat to people's well-being, particularly the economy and standard of living. Providing continuous access to humanitarian aid during the conflict or in the aftermath of the crisis poses a significant challenge to the stakeholders. This study acts as a preliminary investigation to explore the precursors of humanitarian sukuk in the region, through qualitative approach. Findings indicate that Indonesia should explore using sukuk to achieve its humanitarian commitments. While for Malaysia, being at the forefront of the industry, is expected to continue innovating the Islamic capital market landscape with sophisticated instruments and robust regulations.

Author Biographies

Nurul Fathiyah Kamarul Bahrin, Faculty of Management and Information Technology, Universiti Sultan Azlan Shah, 33000 Kuala Kangsar, Perak, Malaysia



Mohamad Nizam Jaafar, Arshad Ayub Graduate Business School, UiTM, 40450 Shah Alam, Malaysia



Arief Wibisono Lubis, Faculty of Economics & Business, Universitas Indonesia, 16424 West Java, Indonesia




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How to Cite

Muhamat, A. A., Kamarul Bahrin, N. F. ., Jaafar, M. N. ., & Lubis, A. W. . (2023). Attributes for humanitarian sukuk: Evidence from ASEAN Countries. Environment-Behaviour Proceedings Journal, 8(23), 15–21.



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