Inefficiency In Sukuk Implementation In Indonesia: Data Envelopment Analysis

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Mohmed Firdaus bin Masruhen , Muhammad Yusuf Ibrahim , Muhammad Luthfi Noer , Nurizal Ismail


This study aims to measure the efficiency value of Retail Sukuk issuance and to see what factors influence the inefficiency of Sukuk both internally and externally, to provide alternative strategies for the government to achieve Retail Sukuk efficiency. The used method in this study is a Data Envelopment Analysis (DEA) using MaxDEA 6.1 software and interviews with relevant sources. Based on the analysis using the DEA method, it is known that in overall (CRS) and scale, there are 5 series that achieve efficient values or namely SR006, SR008, SR009, SR010, and SR011. The source of inefficiency in Retail Sukuk is dominantly influenced by the Coupon and Total Employee variables. Where coupons have an effect of 41% and total employees by 26% and also fee marketing.

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