CONSTRAINTS AND STRATEGIES OF ISSUING MUNICIPAL SUKUK IN INDONESIA

The purpose of this paper is to analyze the potential Islamic municipal bonds in Indonesia focused on its constraint and strategy using Analytic Network Process (ANP). Methodology proceeded by literature research construct a model in-depth interview with practitioners regulators both government sharia perspective fully understand develop an appropriate ANP Network. experts are divided into two categories as direct relation non-direct experts. constraints five nodes, they political risk, trust between stakeholders, lack knowledge, law risk loan. While strategies contain building trust, education, comprehensive basis, market strategy, product innovation. may be developed implementing basis primary provide need main constraint. Both agreed all except BPK which more concern