How Islamic Finance Is Resilient During The Pandemic

Authors

  • Adnan SAFARI University of Surabaya

Keywords:

Islamic Finance, Resilience, Sustainability, Pandemic, Indonesia

Abstract

country’s economy. However, few studies are trying to discover the underlying factors of Indonesia’s Islamic finance resilience and the appropriate measures to achieve sustaina- bility in Indonesia’s Islamic finance. Therefore, the purpose is to find the underlying factors of Islamic finance’s resilience in Indonesia during the pandemic and discover what makes Islamic finance in Indonesia sustainable. After analyzing the data using Straus’ grounded theory coding, the findings indicate that the flexible structure of Is- lamic finance becomes the main factor contributing to the resilience and sustainability of Islamic finance in Indonesia during the pandemic. Other factors such as a variety of “akad” and government agenda also contribute to its resilience and sustainability dur- ing the COVID-19 pandemic. Further, Indonesia’s government and Islamic financial institutions must develop quality human capital and adapt to technological changes. Lastly, it is hoped that this study could contribute to the development of Islamic finance in Indonesia.

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Published

2023-12-07