المستخلص: |
This study aims to examine the impact of smart sukuk on financial markets. It discusses the role of innovative sukuk in stimulating and invigorating financial markets and highlights the significant challenges that have hindered the adoption of traditional sukuk. It also demonstrates how blockchain technology has effectively overcome these challenges with the emergence of smart sukuk. To illustrate this point, we present the case study of the Blossom platform in Indonesia. Employing a descriptive-analytical approach to address the research problem, the findings conclude that smart sukuk play a vital role in rejuvenating financial markets by modernizing the sukuk issuance process, enhancing efficiency, broadening market access, increasing market dynamism and liquidity, attracting a diverse range of investors, and promoting financial innovation. The study recommends the adoption of blockchain technology to streamline the sukuk issuance process and suggests the development and implementation of smart contracts capable of automating various aspects of issuing, trading, and settling instruments, resulting in a more efficient market.
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