Blue Sukuk for Sustainable Maritime Economic Development In Indonesia

Suherman Suherman

Abstract


Indonesia, as the largest maritime country in the world, faces various environmental challenges such as coral reef degradation, marine pollution and the impact of climate change. Blue Sukuk offers financing solutions that comply with sharia financial principles to overcome these challenges. This research identifies the great potential of Blue Sukuk to attract ethical investors and diversify financing sources for sustainable maritime projects. Indonesia's experience in issuing Green Sukuk shows strong market interest in sustainable financial instruments. However, the implementation of Blue Sukuk in Indonesia faces several challenges, including low awareness and understanding, the need for supportive regulations and policies, liquidity problems, and sharia financial market infrastructure that needs to be strengthened. To overcome this challenge, this research suggests several strategies, including education and outreach, strengthening regulations and policies, developing market infrastructure, multi-sector collaboration, and strict monitoring and evaluation. In addition, several recommendations were given to strengthen the implementation of Blue Sukuk in Indonesia, such as the establishment of a center of excellence for maritime finance, training and certification for stakeholders, issuance of pilot Blue Sukuk, international cooperation, and further research and development. By implementing these strategies and recommendations, it is hoped that Blue Sukuk can become an effective instrument in supporting the sustainability of the maritime economy in Indonesia.

Keywords


blue sukuk; economy; maritime

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References


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DOI: https://doi.org/10.17509/manajerial.v24i2.83331

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