Developing Ijarah-Sustainable and Responsible Investment Sukuk (I-SRIS) Framework for the Development of Health Infrastructure in East Malaysia

Abstract

There is still a part of Malaysia that still does not have the privilege to access all the healthcare benefits offered by the Malaysia government. Therefore, there is a demanding need to find alternative model that could help in funding to build the health facilities in East Malaysia. This study will propose a framework using an innovative sukuk model that could help in financing the development of health facilities. This research is using a secondary research method, which adopts desk research. Literature from the past research on the issue of financing health services and accessibility to health facilities in rural areas especially in East Malaysia are critically analyzed to establish the new proposed framework. This paper is developing an Ijarah- Sustainable and Responsible Investment Sukuk (I-SRIS) Framework as a source to financing the development of health infrastructure and facilities in East Malaysia. This study will provide some insights for the government, regulators, health administrators, corporations and policymakers about the alternatives to fund and develop health facilities.