The large gap in the ability to finance domestic infrastructure projects makes the need for foreign investment important. The contribution of foreign portfolio investment to strengthen the domestic capital market and its infrastructure will increase the allocation of domestic capital. This study aims to examine the impact of foreign portfolio investment inflows, especially on Islamic infrastructure stocks. A sampling of 17 issuers was carried out using the purposive sampling technique during the research period from 03 January 2017 to 28 April 2022. The method used was the GARCH model. Trading in foreign portfolio investment has a statistically significant effect on the volatility of the sharia infrastructure sector index. The results of this study can be a source of information for the government to consider sound monetary policy and stronger supervision in the financial system as well as macroeconomic variables, particularly exchange rates that affect foreign investment flows in Indonesia. Policies aimed at attracting more capital at the same time consider possible negative effects, such as sudden outflows of capital or short-term reversal of capital flows.

Millennial investors have an important role in developing sukuk investment products and services, specifically at the retail level. Sukuk issuances play a critical role in promoting economic growth as a source of domestic funding. At present, there are moves towards introducing digital sukuk at the retail level to make it accessible to general public. The present study investigates the knowledge and preferences of millennials towards digital retail sukuk offered in Malaysia and Indonesia. For that purpose, survey questionnaires are distributed in early 2022 to 135 respondents in both countries to examine their perceptions and awareness of retail digital sukuk investment based on purposive samplings. Identifying factors influencing millennials investment decision in retail digital sukuk will contribute to the development of Islamic financial products and services in both countries. The findings suggest that values and technology-fit tasks are important variables in sukuk investment among the respondents. To the policymakers, the findings will provide an early profile of millennials investors who are more inclined to use technological advances in investing. It is important to understand millennials' preferences to appropriately assess both opportunities and risks in investing

Sukuk issuances play a critical role in promoting economic growth. At present, there are moves towards introducing sukuk at the retail level online to make it accessible to the public. This is a way for the government to raise financing domestically. The present study investigates the knowledge and preferences of millennials towards retail sukuk offered in Malaysia and Indonesia. For that purpose, survey questionnaires are distributed in early 2022 to 135 respondents to examine their perceptions and awareness of sukuk investment using purposive samplings. Identifying factors influencing millennials investing in retail sukuk will contribute to the development of Islamic financial products and services in Malaysia and Indonesia. The findings suggest that values and technology-fit tasks are important variables in sukuk investment among the respondents. Millennial investors have an important role in developing sukuk investment products and services. To the policymakers, the findings will provide an early profile of investors millennials who are more inclined to use technological advances in investing. It is important to understand millennials' values, behavior, and preferences to appropriately assess both opportunities and risks in investing.