Attributes for humanitarian sukuk: Evidence from ASEAN Countries

Amirul Afif Muhamat; Nurul Fathiyah  Kamarul Bahrin; Mohamad Nizam  Jaafar; Arief Wibisono  Lubis

doi:10.21834/ebpj.v8i23.4468

Authors

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

DOI:

https://doi.org/10.21834/ebpj.v8i23.4468

Keywords:

Indonesia, Malaysia, Humanitarianism, Sukuk

Abstract

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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