The Role of Islamic Micro Financial Cooperatives (Baitul Maal Wat Tamwil) in Local Economic Development
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Jan 30, 2022
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Abstract
Indonesia, the largest Moslem country in the world, is still facing chronic poverty problems. Despite the fact that GDP per capita has shown a positive trend since the financial crisis that hit Indonesia in mid 1997, it is not difficult to see that poverty and inequality still prevail in reality. There is widening gao between those who control main business and the poor.. According to the Indonesia Central Bureau of Statistics, around 17.75 percent of total population (around 220 millions) are still living under poverty line. The poor themselves have underutilized entrepreneurship potential due to the structural barriers in economic activities. Microfinance is an alternative for micro entrepreneurs and the poor, who are normally not eligible or bankable to receive loans from commercial banks.
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Sofana, R. D. P. (2022). The Role of Islamic Micro Financial Cooperatives (Baitul Maal Wat Tamwil) in Local Economic Development. Semarang State University Undergraduate Law and Society Review, 2(1), 39-56. https://doi.org/10.15294/lsr.v2i1.53479
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References
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Dawami, Q., Razak, D. A., & Hamdan, H. (2021). Factors determining the successful performance of baitul maal wat tamwil in Wonosobo. International Journal of Islamic Economics and Finance (IJIEF), 4(1), 79-100.
Dawami, Q., Razak, D. A., & Hamdan, H. (2021). Human Resources and Islamic Microfinance Sustainability: An Empirical Study of Baitul Maal wat Tamwil in Indonesia. Journal of Islamic Business and Management, 11(1), 90-104.
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Martiana, A., Panena, Z. C. N., & Fuadi, N. F. Z. (2022). Pro-Poor Capital Assistance: A Strategic Analysis of Baitul Maal Wat Tamwil (BMT) Microfinance. al-Uqud: Journal of Islamic Economics, 6(1), 1-16.
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Muctharom, M. Z. A. (2019). Pengaruh Kualitas Produk Murabahah, Harga, dan Kualitas Pelayanan Terhadap Kepuasan Nasabah di Baitul Maal Wat Tamwil Nurul Ummah Ngasem Bojonegoro. Journal of Sharia Economics, 1(1), 41-54.
Mukhibad, H., & Nurkhin, A. (2020). The Mechanism of Corporate Governance, Financial Performance, and Social Performance in Baitul Maal Wat Tamwil (BMT). Journal of Accounting and Strategic Finance, 3(1), 1-17.
Mulia, R. A. (2019). Peranan Program Koperasi Jasa Keuangan Syariah Baitul Maal Wat Tamwil (KJKS BMT) dalam Pemberdayaan Pelaku Usaha Mikro Kecil Menengah di Kota Padang. Ensiklopedia Social Review, 1(3), 290-299.
Mursid, F. (2018). Kebijakan Regulasi Baitul Maal Wat Tamwil (BMT) di Indonesia. Nurani: Jurnal Kajian Syari'ah dan Masyarakat, 18(2), 9-30.
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Riwajanti, N. I., Muwidha, M., Handayani, E., & Miharso, A. (2020). Bagaimana meningkatkan keberlanjutan Baitul Maal wat Tamwil (BMT)?. Al Tijarah, 6(1), 1-11.
Segrado, C. (2005). Case study “Islamic microfinance and socially responsible investments”. Italy: MEDA Project.
Seo, S. W., Kim, J. S., & Ryu, D. (2019). Effects of the Asian financial crisis on the relation between leverage and employee compensation. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 48(1), 1-20.
Setya, V. A., & Widiastuti, T. (2022). Poverty Treatment Effectiveness in the Era of Pandemic COVID-19 With the Role of the Baitul Maal Wat Tamwil. AFEBI Islamic Finance and Economic Review, 6(02), 106-119.
Sihotang, M. K. (2021). Pengaruh Pembiayaan Murabahah Terhadap Pendapatan UMKM Pada BMT Amanah Ray. Prosiding Seminar Nasional Kewirausahaan, 2(1), 1220-1229.
Sudjana, K., & Rizkison, R. (2020). Peran Baitul Maal Wat Tamwil (BMT) dalam Mewujudkan Ekonomi Syariah yang Kompetitif. Jurnal Ilmiah Ekonomi Islam, 6(2), 175-194.
Sugianto, S. (2022). Pengembangan Baitul Maal Wat-Tamwil untuk Pemberdayaan Ekonomi Umat. Jurnal Pendidikan dan Konseling, 4(4), 2177-2183.
Suhaeni, I. (2020). Opportunities Baitul Maal Wat Tamwil (BMT) in Increasing Small Business Activities in the Community. Khazanah Multidisiplin, 1(2), 183-195.
Suriadi, I. (2018). Peluang dan Tantangan Lembaga Keuangan Mikro Syariah (BMT) dalam Mengurangi Kemiskinan di Nusa Tenggara Barat. Journal of Economics and Business, 4(1), 78-92.
Suriadi, I., & Sriningsih, S. (2021). Model Pengembangan Lembaga Keuangan Mikro Syariah dalam Mengurai Kemiskinan di Kota Mataram. Journal of Economics and Business, 7(1), 82-105.
Susilowati, L. (2018). Model strategi tumbuh dan bertahan pada pengelolaan Baitul Maal Wat Tamwil (BMT) di Kabupaten Tulungagung dan Ponorogo. IQTISHADIA Jurnal Ekonomi & Perbankan Syariah, 5(2), 163-187.
Yunus, M. (2003). Halving poverty by 2015--we can actually make it happen. The Round Table, 92(370), 363-375.
Yunus, M. (2007). Credit for the poor: Poverty as distant history. Harvard International Review, 29(3), 20.
Zulkarnain, M. E. (2016). Peran dan Kebijakan Zaman Orde Baru Dalam Sektor Ekonomi Indonesia. IAIN Tulungagung, 4(1), 38-39.
Arafat, F. (2020). Eksistensi BMT sebagai Baitul Maal Wat Tamwil dan Problematika Hukumnya. El-Qist: Journal of Islamic Economics and Business (JIEB), 10(1), 1-89.
Ascarya, A., Rahmawati, S., & Tanjung, H. (2018). Design the roadmap of holistic financial inclusion for Baitul Maal wat Tamwil. Tazkia Islamic Finance and Business Review, 12(1), 271288.
Dawami, Q., Razak, D. A., & Hamdan, H. (2021). Factors determining the successful performance of baitul maal wat tamwil in Wonosobo. International Journal of Islamic Economics and Finance (IJIEF), 4(1), 79-100.
Dawami, Q., Razak, D. A., & Hamdan, H. (2021). Human Resources and Islamic Microfinance Sustainability: An Empirical Study of Baitul Maal wat Tamwil in Indonesia. Journal of Islamic Business and Management, 11(1), 90-104.
Dewi, E. K., & Astari, A. (2018). Peran Pembiayaan Mudharabah dalam Pengembangan Kinerja Usaha Mikro Pada BMT (Baitul Maal Wat Tamwil). Law and Justice, 2(2), 113-123.
Febianto, I., Johari, F., & Kefeli, Z. (2019). The Role of Baitul Mal Wa Tamwil for Poverty Alleviation in Bandung, Indonesia. International Journal of Advanced Research in Islamic and Humanities, 1(1), 10-18.
Ginanjar, A., & Kassim, S. (2020). Can Islamic microfinance alleviates poverty in Indonesia? An investigation from the perspective of the microfinance institutions. Journal of Islamic Monetary Economics and Finance, 6(1), 77-94.
Gulzar, S., Mujtaba Kayani, G., Xiaofen, H., Ayub, U., & Rafique, A. (2019). Financial cointegration and spillover effect of global financial crisis: A study of emerging Asian financial markets. Economic research-Ekonomska istraživanja, 32(1), 187-218.
Hidayat, S. (2018). Persepsi Masyarakat Terhadap Baitul Maal Wat Tamwil (BMT) dalam Pemberdayaan Ekonomi Masyarakat. Al-Uqud: Journal of Islamic Economics, 2(2), 198-212.
Kasri, R., & Ahmed, H. (2015). Assessing socio-economic development based on Maqāṣid al-Sharīʿah principles: Normative frameworks, methods and implementation in Indonesia. Islamic Economic Studies, 23(1), 73-100.
Khilmia, A., Buchorie, I., Musthofa, M., & Imari, I. (2022). The Role of Baitul Maal Wa Tamwil (BMT) to Reduce Poverty in Indonesia. International Journal of Business and Economy, 4(3), 33-42.
Martiana, A., Panena, Z. C. N., & Fuadi, N. F. Z. (2022). Pro-Poor Capital Assistance: A Strategic Analysis of Baitul Maal Wat Tamwil (BMT) Microfinance. al-Uqud: Journal of Islamic Economics, 6(1), 1-16.
Melina, F. (2020). Pembiayaan Murabahah di Baitul Maal Wat Tamwil (BMT). Jurnal Tabarru': Islamic Banking and Finance, 3(2), 269-280.
Muctharom, M. Z. A. (2019). Pengaruh Kualitas Produk Murabahah, Harga, dan Kualitas Pelayanan Terhadap Kepuasan Nasabah di Baitul Maal Wat Tamwil Nurul Ummah Ngasem Bojonegoro. Journal of Sharia Economics, 1(1), 41-54.
Mukhibad, H., & Nurkhin, A. (2020). The Mechanism of Corporate Governance, Financial Performance, and Social Performance in Baitul Maal Wat Tamwil (BMT). Journal of Accounting and Strategic Finance, 3(1), 1-17.
Mulia, R. A. (2019). Peranan Program Koperasi Jasa Keuangan Syariah Baitul Maal Wat Tamwil (KJKS BMT) dalam Pemberdayaan Pelaku Usaha Mikro Kecil Menengah di Kota Padang. Ensiklopedia Social Review, 1(3), 290-299.
Mursid, F. (2018). Kebijakan Regulasi Baitul Maal Wat Tamwil (BMT) di Indonesia. Nurani: Jurnal Kajian Syari'ah dan Masyarakat, 18(2), 9-30.
Padmantyo, S., Irawati, Z., Murwanti, S., Sulton, A. S., & Sholahuddin, M. (2020). Peran Model Kepemimpinan Spiritual Dalam Mendukung Program Pengentasan Kemiskinan (Studi Pada Baitul Mal Wat Tamwil). Benefit: Jurnal Manajemen dan Bisnis, 5(1), 15-30.
Riwajanti, N. I., Muwidha, M., Handayani, E., & Miharso, A. (2020). Bagaimana meningkatkan keberlanjutan Baitul Maal wat Tamwil (BMT)?. Al Tijarah, 6(1), 1-11.
Segrado, C. (2005). Case study “Islamic microfinance and socially responsible investments”. Italy: MEDA Project.
Seo, S. W., Kim, J. S., & Ryu, D. (2019). Effects of the Asian financial crisis on the relation between leverage and employee compensation. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 48(1), 1-20.
Setya, V. A., & Widiastuti, T. (2022). Poverty Treatment Effectiveness in the Era of Pandemic COVID-19 With the Role of the Baitul Maal Wat Tamwil. AFEBI Islamic Finance and Economic Review, 6(02), 106-119.
Sihotang, M. K. (2021). Pengaruh Pembiayaan Murabahah Terhadap Pendapatan UMKM Pada BMT Amanah Ray. Prosiding Seminar Nasional Kewirausahaan, 2(1), 1220-1229.
Sudjana, K., & Rizkison, R. (2020). Peran Baitul Maal Wat Tamwil (BMT) dalam Mewujudkan Ekonomi Syariah yang Kompetitif. Jurnal Ilmiah Ekonomi Islam, 6(2), 175-194.
Sugianto, S. (2022). Pengembangan Baitul Maal Wat-Tamwil untuk Pemberdayaan Ekonomi Umat. Jurnal Pendidikan dan Konseling, 4(4), 2177-2183.
Suhaeni, I. (2020). Opportunities Baitul Maal Wat Tamwil (BMT) in Increasing Small Business Activities in the Community. Khazanah Multidisiplin, 1(2), 183-195.
Suriadi, I. (2018). Peluang dan Tantangan Lembaga Keuangan Mikro Syariah (BMT) dalam Mengurangi Kemiskinan di Nusa Tenggara Barat. Journal of Economics and Business, 4(1), 78-92.
Suriadi, I., & Sriningsih, S. (2021). Model Pengembangan Lembaga Keuangan Mikro Syariah dalam Mengurai Kemiskinan di Kota Mataram. Journal of Economics and Business, 7(1), 82-105.
Susilowati, L. (2018). Model strategi tumbuh dan bertahan pada pengelolaan Baitul Maal Wat Tamwil (BMT) di Kabupaten Tulungagung dan Ponorogo. IQTISHADIA Jurnal Ekonomi & Perbankan Syariah, 5(2), 163-187.
Yunus, M. (2003). Halving poverty by 2015--we can actually make it happen. The Round Table, 92(370), 363-375.
Yunus, M. (2007). Credit for the poor: Poverty as distant history. Harvard International Review, 29(3), 20.
Zulkarnain, M. E. (2016). Peran dan Kebijakan Zaman Orde Baru Dalam Sektor Ekonomi Indonesia. IAIN Tulungagung, 4(1), 38-39.