Risk Factors in Sukuk Investment: A Study of Social Media and Religiosity Influences in Indonesia and Thailand

Abstract

This study seeks to evaluate the impact of social media and religiosity on the interest in Sukuk (Islamic securities) investment in Indonesia and Thailand. Employing a quantitative approach, data were collected through questionnaires administered to 100 respondents selected using purposive sampling. The data were then analysed using statistical methods to numerically interpret the findings. The results indicate a significant influence of both social media and religiosity on public interest in Sukuk investment. Specifically, the partial T-test analysis demonstrates that both social media and religiosity exert a positive and statistically significant effect on the interest in Sukuk investment. Furthermore, the F-test analysis reveals that social media and religiosity jointly have a simultaneous impact on investment interest in Sukuk within the Indonesia and Thailand context. The findings suggest that leveraging social media and reinforcing religious values can effectively enhance investor engagement with Sukuk investments, highlighting the importance of these elements in promoting Islamic finance.