Seeing the potential of the Muslim majority in this country and the euphoria of desire from the leader in the region to apply the Sharia economic principle. However, it is not by the quantity of the successful conversion of the conventional Savings and Loans Business Cooperatives into Sharia Saving and Financing Cooperatives. This research aims to identify problems, formulate solutions, and design strategies for converting conventional Savings and Loans Business Cooperatives into Sharia Saving and Financing Cooperatives. This research uses the Analytic Network Process (ANP) method by collecting opinions from various experts, such as practitioners, regulators, and experts in converting conventional Savings and loan cooperatives into Sharia Savings and loan cooperatives. This research discovers that there were similar opinions on the problems, that internal aspects caused the low conversion rate. Stakeholder interests and human resource needs are the dominant internal problems influencing the most. To solve this problem by processing data from all the respondents based on average results, the priority is the aspect of education and communication. The second priority is the aspect of gradual conversion. The proposed solution will be more effective using a market-driven strategy and rational persuasion. The implication is that the government and other stakeholders can promote the education and communication sector, where education in the form of internships and DPS or Sharia Economics training will have a significant impact.

The study is aimed at examining the determinants of retail investor to invest in small medium enterprise’s (SME) sukuk through Fintech Securities Crowdfunding (SCF) using the extended theory of planned behaviour (TPB). The cluster random sampling was applied and survey was conducted by distributing online questionairre to retail investors who already invested through SCF in Indonesia officially licensed by the OJK (Authority of Financial Services). The data of 218 respondent were analysed using SmartPLS 3.2.9. The result suggested that attitude, subjective norm and perceived behaviour control were statistically found significant to intention to invest in SME’s sukuk. The result also showed that other variables observed, knowledge, religious factor and risk & return have positively significant impact on attitude toward SME’s sukuk investment. Interestingly, sharia compliance factor not significantly impact to attitude.