Open AccessStrengthening Indonesiaʼs Islamic Financial Inclusion: An Analytic Network Process Approach
Author(s) -
Mohammad Mahbubi Ali,
Abrista Devi,
Hamzah Bustomi,
Hafas Furqani,
Muhammad Rizky Prima Sakti
Publication year - 2020
Publication title -
islam and civilisational renewal
Language(s) - English
Resource type - Journals
eISSN - 2041-8728
pISSN - 2041-871X
DOI - 10.52282/icr.v11i2.785
Subject(s) - financial inclusion , islam , analytic network process , interview , indonesian , inclusion (mineral) , business , work (physics) , accounting , islamic finance , financial services , finance , economics , sociology , political science , law , social science , analytic hierarchy process , engineering , mechanical engineering , philosophy , linguistics , theology , mathematical economics
This study proposes some strategies to strengthen Islamic financial inclusion in Indonesia. The study employs the Analytic Network Process (ANP) by interviewing Indonesian Islamic finance experts, including academics, regulators, and practitioners. The ANP results show that the strategies to strengthen Islamic financial inclusion in Indonesia, ranked based on their significance level, are product compatibility (0.28), financial infrastructure (0.25), human development (0.20), and demand creation (0.18). The study provides actionable recommendations for Islamic Financial Institutions (IFIs) in Indonesia when formulating their appropriate roadmaps and strategies for Islamic financial inclusion. This study is a pioneer work that develops an institutions-based strategy for Islamic financial inclusion in Indonesia based on expert judgments.