The role of Islamic Sukuk in Absorption of Deficit Budget

Indonesia and Malaysia cases

Authors

  • Hind Mehdaoui Employment, Legislation and Simulation in the Maghreb Countries Laboratory, University Center of Ain Temouchent, ALGERIA.
  • Belhadj Bouchaib Employment, Legislation and Simulation in the Maghreb Countries Laboratory, University Center of Ain Temouchent, ALGERIA.

Keywords:

Islamic Sukuk, Budget deficit, development of sukuk, Indonesia experience, Malaysia experience

Abstract

The aim of this study is to identify the islamic sukuk and its development in recent last years, and its role in absorption budget deficit, this instruments are used in strengthen the infrastructure also they have an effectiveness contribution to reduce the budget deficit.

Indonesia and Malaysia are considered among the pioneering countries in using sukuk to absorb the public budget deficit, as it has become one of the monetary policy tools to control the amount of cash circulating in society.

Downloads

Download data is not yet available.

References

Abdel-Khaleq, A. H., & Richardson, C. F. (2007, 1 1). New Horizons for Islamic Securities: Emerging Trends in Sukuk. Chicago Journal of International LAw, 7(2), p. 413.

Abdullah, A. (2014, February). Sukuk and Bonds: a Comparison. pp. 03-04.

Adeola, H. (2009, July). Islamic Finance: The Answer to Financial Inclusion In Nigeria. A presentation at EFINA Conference.

Al Parisi, S., & Rusydiana, A. S. (s.d.). The Comparison of Sukuk and Bond Absorption;Deficit Budget Financing in Indonesia. Tazkia Islamic Finance and Business Review, 10(2), p. 108.

Alam, N., Hassan, M. H., & Haque, M. A. (2013). Are Islamic bonds different from conventional bonds? International evidence from capital market tests. Borsa Istanbul Review(13), p. 22.

Amaliah, I., & Aspiranti, T. (2017, April-july). State sukuk potential in reducing Indonesia budget deficit, 2009 -2015. Journal of Economics, Business, and Accountancy Ventura, 20(01), p. 23.

Ariff, M., Safari, M., & Shamsher, M. (2012). Sukuk securitirs,their definitions,classification and pricing issues. p. 11.

Aslam, M., & Jaafar, R. (2020, 05 11). Budget Deficit and the Federal. Perspectives on Economic Development - Public Policy, Culture, and Economic Development, p. 02.

Baita, A. J., & Daud, M. (2019, january). Appraisal of Economic Benefits of Ṣukūk in Financing Budget Deficits in Nigeria. JKAU: Islamic Econ, 32(01), p. 147.

Chermi, H., & Jerbi, Y. (2015). Sukuk as an Attractive Alternative of Funding and Investment in Tunisia. Journal of Emerging Economies and Islamic Research, 3(1), p. 02.

Ghafoor, S., Saba, I., & Kouser, R. (2018, December). Sukuk Issuance in Malaysia: Lessons for Pakistan. Journal of Accounting and Finance in Emerging Economies, 4(02), p. 159.

Ghafoor, S., Saba, I., & Kouser, R. (2018, December). Sukuk Issuance in Malaysia: Lessons for Pakistan. Journal of Accounting and Finance in Emerging Economies, 4(2), p. 159.

Godlewski, C., Turk-Ariss, R., & Weill, L. (2013). Sukuk vs. conventional bonds: A stock market perspective q. Journal of Comparative Economics(41), p. 747.

https://www.djppr.kemenkeu.go.id/uploads/files/dmodata/in/6Publikasi/5Brosur/Investing%20in%20Sukuk%20Negara%20(Indonesian%20Sovereign%20Sukuk).pdf. (s.d.). Consulté le 10 30, 2020, sur Investing in Sukuk Negara (Indonesian Sovereign Sukuk).

Keskin, I., & Kantarci, H. B. (2015). The Importance and Role of Sukuk Marketing as an Islamic Bond in the Economy. International Journal of Economics and Management Engineering, 09(06), p. 1897.

Khoso, A. A., Kazi, A. S., Ahmedani, M. M., Ahmed, M., Ahmed, F., & Khoso, I. A. (2016, July). A comparative study between sukuk bonds and conventional bonds in Pakistan capital market. International Journal of Multidisciplinary Research and Development, 3(7), pp. 06-11.

Mohd Zin, M. Z., Sakat, A. A., Nurfahiratul, A. A., Roslan, M. N., Azri, B., Ishak, S., et al. (2011). The Effectiveness of Sukuk in Islamic Finance Market. Australian Journal of Basic and Applied Sciences, 5(12), pp. 472-478.

Mitsaliyandito, R. Q., Arundina, T., & Kasri , R. A. (2017). Impact of Sukuk Market Development on Indonesian Economic. International Journal of Applied Business and Economic Research, 15(03), p. 05.

Nisful, L., & Muslish, A. (2020). The Development of Sovereign Sukuk. International Journal of Innovation, Creativity and Change, 11(11), p. 637.

Soesmanto, T., & Tjoe, Y. (2018, june 28). https://theconversation.com/indonesias-government-debt-ahead-of-2019-presidential-election-a-real-economic-concern-97708. Consulté le october 20, 2020, sur Indonesia’s government debt ahead of 2019 presidential election: a real economic concern?

(2017). Securities Commission Malaysia. Annual Report, Malaysia.

Siamat, D. (2014). IIFM-Sukuk-Report-Indonesia-Sukuk. Debt Management, Ministry of Finance, Republic of Indonesia: IIFM.

Zolfaghari, P. (2017). An Introduction to Islamic Securities (Sukuk). Uppsala Faculty of Law: Working paper, p. 04.

Downloads

Published

2022-09-15

How to Cite

Mehdaoui, H., & Bouchaib , B. (2022). The role of Islamic Sukuk in Absorption of Deficit Budget : Indonesia and Malaysia cases. Journal of Human Sciences , 33(3), 53–67. Retrieved from https://revue.umc.edu.dz/h/article/view/3969

Similar Articles

<< < 2 3 4 5 6 7 8 9 10 11 > >> 

You may also start an advanced similarity search for this article.