Attributes for Humanitarian Sukuk: Evidence from ASEAN Countries

Humanitarianism was never entirely resolved, and it continues to pose a severe threat to people's well-being, particularly the economy and standard of living. Providing continuous access to humanitarian aid during the conflict or in the aftermath of the crisis poses a significant challenge to the stakeholders. This study acts as a preliminary investigation to explore the precursors of humanitarian sukuk in the region, through qualitative approach. Findings indicate that Indonesia should explore using sukuk to achieve its humanitarian commitments. While for Malaysia, being at the forefront of the industry, is expected to continue innovating the Islamic capital market landscape with sophisticated instruments and robust regulations.