IMPACT OF SUKUK AND INTERNAL FACTORS ON THE PERFORMANCE OF THE ISLAMIC BANK SECTOR
DOI:
https://doi.org/10.47498/miconis.v2i.5900Keywords:
Sukuk Issuance, Islamic Bank Performance, ProfitabilityAbstract
As the country with the world’s largest Muslim population, Indonesia holds significant potential in developing Islamic banking and finance, particularly through the use of sukuk instruments. Sukuk serve not only as an alternative Sharia-compliant financing tool but also as a means to strengthen the liquidity and profitability of Islamic banks. Data from the Financial Services Authority (OJK) indicate a substantial increase in the outstanding value of sukuk and total Islamic banking assets between 2021 and 2024, reflecting growing public trust and the strengthening role of Islamic economics. However, previous studies on the relationship between sukuk issuance and bank profitability have produced mixed results, ranging from positive to insignificant effects. This study aims to analyze the impact of sukuk issuance on the performance of Islamic banks in Indonesia, focusing on profitability indicators (ROA and ROE), operational efficiency, and liquidity. In addition, it examines the relationship between sukuk issuance and macroeconomic variables such as economic growth and inflation, to assess sukuk’s broader contribution to national financial stability. The research adopts a quantitative method using panel data regression analysis, drawing on secondary data from OJK reports, Islamic bank financial statements, and sukuk publications for the 2021–2024 period. The analysis seeks to evaluate the simultaneous relationship between sukuk issuance and financial performance while distinguishing between the effects of corporate and sovereign sukuk. The study is limited by its relatively short observation period and the focus on key financial indicators. The discussion will include an analysis of sukuk issuance trends, its effects on bank profitability and efficiency, and its implications for Indonesia’s economic growth. This study is expected to provide empirical and policy contributions to strengthening the role of sukuk in promoting the sustainable growth of Islamic banking in Indonesia.
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