A critical assessment of retail sovereign sukuk in Indonesia

A critical assessment of retail sovereign sukuk in Indonesia PurposeThe purpose of this paper is to critically evaluate the retail sovereign sukuk in Indonesia, which so far is not found elsewhere in the world and is an effective instrument to raise funds for covering government budget deficits.Design/methodology/approachThe paper adopts qualitative research combining literature studies, valid data from sukuk.com, government official documents and also in-depth interviews with relevant government officials to strengthen the arguments.FindingsCompetitive rates, ability to be bought by individual and risk-free funding are some of the specific features of sukuk, while economic growth and large populations are some of the key success factors.Practical implicationsThis study will be the main reference for other governments which are keen to adopt similar instruments for their respective countries.Social implicationsAs individual is eligible to buy this sukuk, this may lead to a better wealth distributionsOriginality/valueTo the best of the author’s knowledge, this paper is the first to comprehensively and critically evaluate the one and only retail sovereign sukuk as an alternative government instrument to raise funds. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Qualitative Research in Financial Markets Emerald Publishing

A critical assessment of retail sovereign sukuk in Indonesia

Qualitative Research in Financial Markets, Volume 12 (2): 20 – Jul 18, 2019

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1755-4179
DOI
10.1108/QRFM-10-2018-0109
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to critically evaluate the retail sovereign sukuk in Indonesia, which so far is not found elsewhere in the world and is an effective instrument to raise funds for covering government budget deficits.Design/methodology/approachThe paper adopts qualitative research combining literature studies, valid data from sukuk.com, government official documents and also in-depth interviews with relevant government officials to strengthen the arguments.FindingsCompetitive rates, ability to be bought by individual and risk-free funding are some of the specific features of sukuk, while economic growth and large populations are some of the key success factors.Practical implicationsThis study will be the main reference for other governments which are keen to adopt similar instruments for their respective countries.Social implicationsAs individual is eligible to buy this sukuk, this may lead to a better wealth distributionsOriginality/valueTo the best of the author’s knowledge, this paper is the first to comprehensively and critically evaluate the one and only retail sovereign sukuk as an alternative government instrument to raise funds.

Journal

Qualitative Research in Financial MarketsEmerald Publishing

Published: Jul 18, 2019

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