Electronic Resource
The Determinants Of Islamic Capital Market Inclusion In Indonesia
Purpose – This study aims to identify the factors that contribute to the development
of Indonesia's Islamic Capital Market.
Methodology – The Analytic Network Process (ANP) was used to survey
professionals in the fields of academia, regulation, and practice for this study.
Findings – According to the findings of the ANP analysis, the level of inclusion of
the Islamic capital market in Indonesia is determined by two primary factors: supply
and demand. To lead to a significant reduction in importance, the demand factors
for Islamic capital market inclusion are as follows: Islamic capital market literacy
(0.368), religious commitment (0.285), socioeconomic factors (0.183), and social
influence (0.163), respectively. On the supply side, the most important factors that
contribute to Islamic financial inclusion are products and services (0.405), policies
and regulations (0.259), infrastructure (0.190), and human capital (0.147).
Research scope – The author gives close attention to what led to the development
of Indonesia's Islamic Capital Market Inclusion.
Originality/value – By evaluating the perspectives of Islamic capital market
experts, this study makes a first step toward identifying the unique characteristics
that affect the extent to which the Islamic capital market inclusion in Indonesia.
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