Sharia Compliance of Sharia Asset-Backed Securities

Suci Aprilliani Utami, Aneu Cakhyaneu, Yana Rohmana

2017

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 approach 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.

Paper Citation

in Harvard Style

Utami S., Cakhyaneu A. and Rohmana Y. (2017). Sharia Compliance of Sharia Asset-Backed Securities.In 1st International Conference on Islamic Economics, Business, and Philanthropy - Volume 1: ICIEBP, ISBN 978-989-758-315-5, pages 231-234. DOI: 10.5220/0007079902310234

in Bibtex Style

@conference{iciebp17,
author={Suci Aprilliani Utami and Aneu Cakhyaneu and Yana Rohmana},
title={Sharia Compliance of Sharia Asset-Backed Securities},
booktitle={1st International Conference on Islamic Economics, Business, and Philanthropy - Volume 1: ICIEBP,},
year={2017},
pages={231-234},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0007079902310234},
isbn={978-989-758-315-5},
}

in EndNote Style

TY - CONF

JO - 1st International Conference on Islamic Economics, Business, and Philanthropy - Volume 1: ICIEBP,
TI - Sharia Compliance of Sharia Asset-Backed Securities
SN - 978-989-758-315-5
AU - Utami S.
AU - Cakhyaneu A.
AU - Rohmana Y.
PY - 2017
SP - 231
EP - 234
DO - 10.5220/0007079902310234