SUKUK IN SHARIA BANKING: Economic Impact Analysis

Abstract

Indonesia has great potential in developing sharia finance
because the majority of the population is Muslim and has degrees
high economic growth. One of the main instruments in
financing is the issuance of State Sharia Securities (sukuk), which
further strengthening the government's ability to manage the deficit
budget. The government also has various options for determining the combination
the most suitable financing instrument. This research aims to
examine: 1) the development and role of sukuk in Indonesia; 2) the impact of sukuk
on the Indonesian economy. The method used is approach
qualitative with library research techniques, where the data
secondary are taken from various literature and references. Research result
shows that: 1) Issuance of State Sukuk continues to increase from year to year
to year, in line with the strategy implemented in the APBN; 2) Government Sukuk
provide a significant positive impact, such as supporting financing
development projects, encouraging the growth of the Islamic financial market,
creating new business opportunities in the sharia financial sector, providing
alternative investment instruments, and optimizing the use of funds
public.