Bala Babangida
Religious Studies Department
Faculty of Humanities
Federal University of Kashere, Nigeria
Tulus Tambunan
Centre for Industry, SME. & Business Competition
Studies, Universitas Trisakti, Jakarta, Indonesia
Abstract
Funding has been a major challenge to infrastructural development in Nigeria and Indonesia for decades since government resources can hardly meet the increasing demand. Sukuk as an instrument in capital markets emerged to serve as an alternative to modern conventional bonds which are based on Riba (interest) and other speculation that are not in line with Shari'ah. This research adopts the use of qualitative methods of data collection to access diverse views on the importance of Sukuk in financing infrastructure projects in both countries