Staff View: Green sukuk issuance: a case study of public university in Malaysia

Green sukuk issuance: a case study of public university in Malaysia

Universiti Teknologi MARA (UiTM) is one of Malaysia’s premier public universities, offering a wide range of courses, from pre-diploma to postgraduate studies. In addition to its educational services, the university engages in commercial activities through its investment arm, UiTM Holdings Sdn. Bhd....

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Main Authors:	Muhamat, Amirul Afif, Nizar, Nurhuda, Senawi, Azhan Rashid, Abdul Karim, Norzitah, Kassim, Salina, Ismail, Heazar
Format:	Article
Language:	English English
Published:	UMT Press 2024
Subjects:	HG Finance HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/116808/7/116808_%20Green%20sukuk%20issuance.pdf http://irep.iium.edu.my/116808/8/116808_%20Green%20sukuk%20issuance_Scopus.pdf http://irep.iium.edu.my/116808/ https://jssm.umt.edu.my/previous-issues-2/ http://doi.org/10.46754/jssm.2024.11.013
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id	my.iium.irep.116808
record_format	dspace
spelling	my.iium.irep.1168082024-12-19T02:07:52Z http://irep.iium.edu.my/116808/ Green sukuk issuance: a case study of public university in Malaysia Muhamat, Amirul Afif Nizar, Nurhuda Senawi, Azhan Rashid Abdul Karim, Norzitah Kassim, Salina Ismail, Heazar HG Finance HG3368 Islamic Banking and Finance Universiti Teknologi MARA (UiTM) is one of Malaysia’s premier public universities, offering a wide range of courses, from pre-diploma to postgraduate studies. In addition to its educational services, the university engages in commercial activities through its investment arm, UiTM Holdings Sdn. Bhd. One of its subsidiaries, UiTM Energy and Facilities has ventured into the solar power sector, which is managed by UiTM Solar Power Sdn. Bhd. (USPSB). To finance its operations, USPSB has issued green sukuk. This paper aims to investigate the factors driving USPSB’s entry into the green industry and examines the challenges it faces as a university-owned company with no prior experience in solar projects. The study utilised a single descriptive case study design and included semi-structured interviews with experts in the field. The findings revealed five push factors and two pull factors that influenced USPSB’s decision to enter the sector, as well as the primary motivations for issuing sukuk instead of other debt instruments. The study highlighted the issues and challenges USPSB encountered in dealing with green sukuk and provided recommendations to enhance the attractiveness of sustainable and responsible investment sukuk for investors, issuers, and regulators. UMT Press 2024-11-15 Article PeerReviewed application/pdf en http://irep.iium.edu.my/116808/7/116808_%20Green%20sukuk%20issuance.pdf application/pdf en http://irep.iium.edu.my/116808/8/116808_%20Green%20sukuk%20issuance_Scopus.pdf Muhamat, Amirul Afif and Nizar, Nurhuda and Senawi, Azhan Rashid and Abdul Karim, Norzitah and Kassim, Salina and Ismail, Heazar (2024) Green sukuk issuance: a case study of public university in Malaysia. Journal of Sustainability Science and Management, 19 (11). pp. 210-222. ISSN 1823-8556 E-ISSN 2672-7226 https://jssm.umt.edu.my/previous-issues-2/ http://doi.org/10.46754/jssm.2024.11.013
institution	Universiti Islam Antarabangsa Malaysia
building	IIUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	International Islamic University Malaysia
content_source	IIUM Repository (IREP)
url_provider	http://irep.iium.edu.my/
language	English English
topic	HG Finance HG3368 Islamic Banking and Finance
spellingShingle	HG Finance HG3368 Islamic Banking and Finance Muhamat, Amirul Afif Nizar, Nurhuda Senawi, Azhan Rashid Abdul Karim, Norzitah Kassim, Salina Ismail, Heazar Green sukuk issuance: a case study of public university in Malaysia
description	Universiti Teknologi MARA (UiTM) is one of Malaysia’s premier public universities, offering a wide range of courses, from pre-diploma to postgraduate studies. In addition to its educational services, the university engages in commercial activities through its investment arm, UiTM Holdings Sdn. Bhd. One of its subsidiaries, UiTM Energy and Facilities has ventured into the solar power sector, which is managed by UiTM Solar Power Sdn. Bhd. (USPSB). To finance its operations, USPSB has issued green sukuk. This paper aims to investigate the factors driving USPSB’s entry into the green industry and examines the challenges it faces as a university-owned company with no prior experience in solar projects. The study utilised a single descriptive case study design and included semi-structured interviews with experts in the field. The findings revealed five push factors and two pull factors that influenced USPSB’s decision to enter the sector, as well as the primary motivations for issuing sukuk instead of other debt instruments. The study highlighted the issues and challenges USPSB encountered in dealing with green sukuk and provided recommendations to enhance the attractiveness of sustainable and responsible investment sukuk for investors, issuers, and regulators.
format	Article
author	Muhamat, Amirul Afif Nizar, Nurhuda Senawi, Azhan Rashid Abdul Karim, Norzitah Kassim, Salina Ismail, Heazar
author_facet	Muhamat, Amirul Afif Nizar, Nurhuda Senawi, Azhan Rashid Abdul Karim, Norzitah Kassim, Salina Ismail, Heazar
author_sort	Muhamat, Amirul Afif
title	Green sukuk issuance: a case study of public university in Malaysia
title_short	Green sukuk issuance: a case study of public university in Malaysia
title_full	Green sukuk issuance: a case study of public university in Malaysia
title_fullStr	Green sukuk issuance: a case study of public university in Malaysia
title_full_unstemmed	Green sukuk issuance: a case study of public university in Malaysia
title_sort	green sukuk issuance: a case study of public university in malaysia
publisher	UMT Press
publishDate	2024
url	http://irep.iium.edu.my/116808/7/116808_%20Green%20sukuk%20issuance.pdf http://irep.iium.edu.my/116808/8/116808_%20Green%20sukuk%20issuance_Scopus.pdf http://irep.iium.edu.my/116808/ https://jssm.umt.edu.my/previous-issues-2/ http://doi.org/10.46754/jssm.2024.11.013
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score	13.223943

Green sukuk issuance: a case study of public university in Malaysia

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