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primary topic: Study on the market potential of digital sukuk and online trading platforms

Study on the market potential of digital sukuk and online trading platforms
type: AcademicArticle
type: Article
abstract: Purpose – The purpose of this study is to examine the growth potential of Indonesia’s digital sukuk market by analyzing the roles of behavioral and technological drivers (product innovation, online trading platforms (OTPs) and public trust) and the moderating influence of institutional factors, including economic uncertainty and regulation. Design/methodology/approach – A quantitative, explanatory research design was used, using survey data from 320 respondents, comprising investors, issuers and users of OTPs. The model was tested through Partial Least Squares Structural Equation Modelling with SmartPLS 4, evaluating six main effects and six moderating paths. Findings – The results of this study indicate that OTPs and product innovation significantly drive digital sukuk growth, with online platforms emerging as the strongest determinant. Public trust does not exhibit a direct effect. Economic uncertainty weakens the impact of product innovation while marginally strengthening the role of online platforms. Regulatory support significantly amplifies the effect of product innovation but does not moderate other relationships. The model demonstrates strong explanatory power. Research limitations/implications – This study relies on cross-sectional and perceptual data from a single country, which may limit generalizability and causal inference. Nevertheless, the findings clarify boundary conditions for technology adoption theories in Islamic finance under varying regulatory and macroeconomic environments. Practical implications – Policymakers and regulators should prioritize robust digital trading infrastructure alongside supportive regulatory frameworks for sukuk innovation. Issuers and platform providers are advised to focus on platform quality, security and innovation rather than relying solely on trust-building narratives. Social implications – The development of digital sukuk supported by effective platforms and regulation can enhance financial inclusion, improve Islam…
date: 2026-01
is part of: Journal of Islamic Accounting and Business Research
status: peerReviewed
status: published
author list: authors
type: EPrint
type: ArticleEPrint
is part of: repository
has document: Study on the market potential of digital sukuk and online trading platforms (Text)
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has published: Study on the market potential of digital sukuk and online trading platforms (Text)
subject: Investasi

Study on the market potential of digital sukuk and online trading platforms (Text)
type: Document
has file: Study on the market potential of digital sukuk and online trading platforms.pdf
has part: Study on the market potential of digital sukuk and online trading platforms.pdf

Study on the market potential of digital sukuk and online trading platforms (Text)
type: Document
has file: surat-surat-pernyataan1776411134.pdf
has part: surat-surat-pernyataan1776411134.pdf

Emerald Publising
type: Organization

Journal of Islamic Accounting and Business Research
type: Collection
issn: 17500817

- Darmawan
type: Person
given name: -
family name: Darmawan

- Wansisca Putri Anggraini
type: Person
given name: -
family name: Wansisca Putri Anggraini

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primary topic: Study on the market potential of digital sukuk and online trading platforms

Investasi
type: Concept