134
Figure 4.12: Phases of Islamic Finance’s Inclusion in Indonesia’s Financial Landscape
Sources: RAM, ISRA
4.4.5 COUNTRY-SPECIFIC RECOMMENDATIONS
The evolution and improvement of Indonesia’s sukuk market have been driven by several key
factors, as depicted in Chart 4.44. Indonesia has a moderate score in most factors, indicating a
requirement for the further enhancement of each factor in order to boost its sukuk market. In
coming up with the recommendations for Indonesia, we have reviewed the challenges faced by
its sukuk market. Tables 4.16 and 4.17 list the proposals to facilitate the supply of and demand
for sukuk, with a specific focus on the corporate sector.