Authors:
Suci Aprilliani Utami
;
Aneu Cakhyaneu
and
Yana Rohmana
Affiliation:
Islamic Economics and Finance Study Program, Universitas Pendidikan Indonesia, Bandung and Indonesia, Indonesia
Keyword(s):
Sharia compliance, capital market, sharia asset-backed securities.
Abstract:
To support the economic growth rate in Indonesia, the role of sharia financial institution is needed, one of which is Sharia Capital Market which has various products such as EBA or Asset-Backed Securities. Asset Backed Securities (EBA) is a form of sharia securitization that is present to address; Funding issues and sharia banking capital as a source of real sector financing. Securitization is essentially a well-known financial practice for collecting types of contractual debt such as housing loans, commercial loans, vehicle loans or credit card debt obligations, and incorporating those debts to bonds, through securities, or secured credit obligations Then sold to various investors, therefore it takes the principle of prudence in implementing it. The securitization of sharia assets is still relatively new developed in Indonesia. Therefore, in order to avoid doubts and irregularities that are not in accordance with the principles of sharia, it needs a strong legal foundation. The app
roach used in this research is analytical descriptive. The results conclude that there are several mechanisms in the process of securitization issuance that is contrary to Shariah compliance.
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