Sharia Literacy Through the Issuance of Sharia Stocks and Sukuk: MSMEs Funding Potential

Abstract

This study aims to determine the factors that influence MSME literacy in SCF Funding through the issuance of Islamic shares and sukuk as an alternative to MSME funding. The research object used in this research is Random Sampling, MSMEs in Central Java Province with 65 MSMEs. The results showed that MSME literacy towards SCF Funding through the issuance of Sukuk and Sharia Sukuk, namely Factors Affecting Financial Literacy Through the Issuance of Shares and Sharia Sukuk: Potential Funding for MSMEs consists of four factors. Skills, Access, Knowledge and Confidence, and the main factors affecting Financial Literacy through the Issuance of Sharia Shares and Sukuk: Potential Funding for MSMEs is Knowledge and Skills. This research has implications for MSMEs’ understanding of alternative capital in the form of Sharia Securities Crowdfunding (SCF). This research contributes to the Novelty of MSME Capital Instruments using Sukuk Instruments in the Sharia Capital Market using crowdfunding and how well MSMEs understand and the percentage of use of sukuk instruments for MSME business capital.

Keywords

• sharia crowdfunding
• inclusion
• literacy
• sukuk
• msmes