Sukukoffers lower-risk Islamic bonds for individual investors. It also provides more affordable, interest-free funding choices for enterprises. This study proposes an innovative fintech-based (Smart) SRI Sukuk model thattheIslamic microfinance institutions (IMFIs) in Bangladesh mayfind veryhelpful in managing their funding sources. A thorough literature review methodology was used in this study to evaluate the advantages of Smart SRI Sukuk for IMFIs. Additionally, in order to ascertain the most effective methods for incorporating technologyinto the SRI Sukuk model, fifteen Islamic finance specialists were questioned. According to the study's findings, controlling the source funds of Islamic microfinance institutions in Bangladesh through the use of a blockchain and smart contract-based SRI Sukuk is an effective strategy.If implemented properly, thismodel can be very beneficial for theIMFIs who consistently struggle to organize, source money,and manage them effectively. The concepts this study presents will also be useful to future scholars and Islamic financial specialists.
Muhammad et al. (Wed,) studied this question.