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Journal : Al-Ulum

SYARIAH OBLIGATION: PROSPECTS AND ITS CHALLENGES IN INDONESIA Sudirman, Sudirman; Bakri, Bakri
Al-Ulum Vol 15, No 1 (2015): Al-Ulum
Publisher : Institut Agama Islam Negeri (IAIN) Sultan Amai Gorontalo

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Abstract

This writing is designed to investigate prospects and challenges facing Syariah Obligation (sukuk) in Indonesia. In this study, we found Syariah obligation (sukuk) development have good prospect. There are factors supporting Syariah obligation (sukuk) in Indonesia, some of which are significant population, government support, and domestic economic stability over percent per year, flow of fresh fund by Middle East, and making complete regulatory framework, as well as the rise of global Syariah market. Notwithstanding sukuk potential, some challenges are exist, for examples, drawback of regulation, uncertainty of taxation, most of Syariah financial products are “debt-based” or “debt-likely”, less investor understanding of Syariah obligation instrument, and not quite conducive investment climate  and complicated bureaucracy.  -----Tulisan ini bertujuan untuk mengkaji prospek dan tantangan obligasi syariah (sukuk) di Indonesia. Pada penelitian ini, ditemukan bahwa prospek pengembangan obligasi syariah (sukuk) di Indonesia cukup baik. Terdapat beberapa faktor yang mendukung keberadaan obligasi syariah (sukuk) di Indonesia, antara lain: jumlah penduduk yang banyak, dukungan dari pemerintah, Stabilitas perekonomian dalam negeri, di atas persen pertahun, mengalirnya dana segar dari timur tengah, dan regulatory farmework yang cukup memadai, serta bangkitnya pasar global syariah. Meskipun potensi sukuk cukup baik, tetapi tetap saja memiliki sejumlah tantangan, antara lain: adanya kelemahan dari aspek regulasi, ketidakpastian dari segi perpajakan, kebanyakan produk keuangan syariah bersifat” debt-based”atau “debt-likely, kurangnya pemahaman oleh investor terhadap instrumen obligasi syariah, dan iklim investasi yang kurang kodusif serta birokrasi yang berbeli-belit.
Co-Authors A. Hermawan AA Sudharmawan, AA Abdul Madjid Achmad Choerudin Achmad Fanani Adipati Napoleon ADRIANI ADRIANI Agus Hermawan Ajub Ajulian ZM Ambo Dalle Aminuddin Aminuddin Amir, Djohar Andi Alimuddin Unde, Andi Alimuddin Andi Muhammad Sofian Assaury Yahya Andi Rahmat Anggraini Anggraini Anindito Purnowidodo Anna Qomariana Armanto, Muhammad Edi Armanto, Mustika Edi Awaludin Awaludin, Awaludin Baharuddin Paloloang Banneringgi, Nersy Budhi Setiawan Budi Indra Setiawan Chandra Sukma Anugrah Charlos Togi Stevanus, Charlos Togi Chika Arfah, Muhammad Isra' Choi , Eunho D, Ramawulan Diema Hernyka Satyareni Diliarsi, Tirta Endrawati, Tri Ervin Nora Susanti, Ervin Nora Evie Awuy Fadillah Fadillah Faidah, Indah Nur Firdaus Hamta, Firdaus Fitriani Fitriani Fitrianti Fitrianti, Fitrianti Gunawan, Sahrul Gustiawan, Handa Harahap, Subur Hasdi Aimon Hasliah, Hasliah Hesti Rian, Hesti Holyness Nurdin Singadimedja I Ketut Suada I Nyoman Murdiana Imanudin, M.S. Imanudin, Momon Sodik Imanudin Ismail, Dingot Hamonangan Karimudin, Y. Khoiriyah, Z Lilik Maftuhatin, Lilik M. Ansor Anwar Mahfiza Mahfiza, Mahfiza Mansyur, Nurfadillah Mardatillah Mardatillah Mardiansa, Edwin Mecawati, Niluh Putu Ayu Misbahun nidhom Momon manudin, Sodik Momon Sodik Imanuddin Mu'min, Halek Mufidah Mufidah Muh Bambang Prayitno Muh Hasbi Muh. Hasbi Muh. Rizal Muhammad Syaiful Fadly mukhamad masrur Mukhlisin, Nurul Afif Najih, Aizun Narendra Dirgantara, Altalaric Nasril, Nasril Ndawu, Tirta Andriani NP, Ratmini S Nur Ainun Nurcahyani, Dwi Nurmiani, Nurmiani Oktariani, Dewi Otang Kurniaman Paserena, Karinda Dwi Pathuddin Pratama, Moch Aziz Prayitno, Muh Bambang Prayitno Putu Hadi Setyarini Rachmawiasari, Rachmawiasari Ratmini, P. Restini, I Luh Revoldai Agusta Ria Estiana Rita Lefrida Rohim, Abdul Madjid Rostriana, Elin S, Momon. S. Masreah Bernas, S. Masreah Sadat, Fahad Achmad Sahil, Mawardi Abi Salsabila, Nadhira Ghea Sari, Indra Puspita Satria Jaya Priatna, Satria Jaya Siagian, Praktis E. Siska Yulia Defitri Siti Nurul Aidil Fitri, Siti Nurul Soleha Soleha Sono, Mohammad Gifari Sopiah, Sopiah Sri Chandrabakty Sudarman Sudarman Sudirman Sudirman Sukayasa Sulaeman, Iman Suljumansah, Suljumansah Susilawati, Debi Susilowati, Henny Sutji Rochaminah Sutrisno, Niantoro Suwignyo, Rujito A Syafrizal Syafrizal Syamudduha, Syamudduha Syazili, As’ad Syazili, As’ad Syazili Tampubolon, Zhoen Pristoyo Titus, Meti Toangi, Dina Fitriana Tresye Utari, Tresye Tuti Bahfiarti Ulama, Dio Alif Wahjono, Dani Siswardhani Wali Saputra Warsito Warsito Weda Wijaya Wibowo, Edi Wahyu Wiwit Denny Fitriana Y, Karimuddin Yahya, A.Muh Sofian assuary Yahya, Andi Muhammad Sofian Assuary Yang, Hyunyoung Zaki, Muhamad