scholarly journals Impact of ZIS (Zakah, Infaq and Sadaqa) Distribution and Islamic Financial Institutions to MSMEs (Micro, Small, and Medium Enterprises) and Gross Regional Product Growth in East Java (2011-2014 Periods)

2017 ◽  
Vol 3 (1) ◽  
pp. 1-15
Author(s):  
Raisa Aribatul Hamidah ◽  
Tika Widiastuti ◽  
Azhar Alam ◽  
Eko Fajar Cahyono
Keyword(s):  
Financial Institutions ◽  
Small And Medium Enterprises ◽  
Gross Regional Product ◽  
Islamic Financial Institutions ◽  
Regional Product ◽  
Medium Enterprises

The Potential of Sharia Fintech in Increasing Micro Small and Medium Enterprises (MSMEs) in The Digital Era in Indonesia

2021 ◽  
Vol 4 (1) ◽  
pp. 23
Author(s):  
Syarifuddin Syarifuddin ◽  
Rahmawati Muin ◽  
Akramunnas Akramunnas
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Technology Development ◽  
Small And Medium Enterprises ◽  
Easy Access ◽  
Muslim Country ◽  
Digital Era ◽  
Savings And Loan ◽  
Islamic Financial Institutions ◽  
Medium Enterprises

The potential for financial technology development or fintech with sharia basis in Indonesia is still quite large. Indonesia as the largest Muslim country in the world, becomes an undeniable potential. The purpose of this research is to know the potential of Fintech in increasing MSMEs in the digital era in Indonesia. This study uses document studies with a literature review approach. The results of this research show that. First, The patterns applied by sharia fintech in dealing with the problems faced by MSMEs in Indonesia include the ability to manage and analyze data in the era of big data, improve technology infrastructure, create transaction systems easily, content-based marketing in terms of digital marketing, establish cooperation, collaboration, and investment with relevant stakeholders, and innovation of fintech products. Second, The potential of Sharia Fintech in increasing MSMEs in the digital era in Indonesia, MSMEs have been using many applications and cooperating with banks and sharia Savings and Loan Cooperatives, so as to provide easy access to various types of bank financial services and savings and loan cooperatives, now financial institutions are able to reach all MSMEs to remote areas, Sharia Fintech has opened access to business financing more easily and quickly from banking institutions and other Islamic financial institutions.

scholarly journals Gadai Emas Alternatif Tambahan Modal Usaha Mikro Kecil dan Menengah Pada Lembaga Keuangan Syariah

2015 ◽  
Vol 2 (8) ◽  
pp. 689
Author(s):  
Ninda Ardiani ◽  
Muhammad Nafik HR
Keyword(s):  
Financial Institutions ◽  
Small And Medium Enterprises ◽  
Capital Requirements ◽  
Working Capital ◽  
Fast Process ◽  
Short Term ◽  
Analysis Technique ◽  
Islamic Financial Institutions ◽  
Medium Enterprises

The method used is a qualitative approach with the strategy case study. The collection of data that is passed is the interview to the informant, the assistant pawn Islamic financial institutions and Micro, Small and Medium Enterprises customers pawn gold. The analysis technique used is the technique of pairing patterns with narrating the interviews with informants. Results from this study is the gold pawn Islamic financial institutions may be a reinforcement of capital Micro, Small and Medium Enterprises. The use of gold as a pledge of capital strengthening of capital Micro, Small and Medium Enterprises undertaken to meet short-term capital in the form of working capital. Requirements are simple and fast process makes this product desirable pengusha Micro, Small and Medium Enterprises. Using gold as a pledge of additional capital, the of capital Micro, Small and Medium Enterprises business grew and developing States.

scholarly journals ANALISIS RASIO PERMODALAN BMT AL IQ-TISHODY MATARAM

2020 ◽  
Vol 5 (1) ◽  
Author(s):  
Menik Aryani
Keyword(s):  
Small Business ◽  
Financial Performance ◽  
Financial Institutions ◽  
Small And Medium Enterprises ◽  
Supervisory Board ◽  
Financial Statements ◽  
Cooperative Management ◽  
Islamic Financial Institutions ◽  
Medium Enterprises ◽  
Ministerial Decree

This study is entitled "Capital Analysis Ratio of BMT Al Iq-Tishody Mataram" The purpose of this study is to determine the level of sharia health and compliance in the AL-Iqtishody Mataram BMT 2019 on aspects of capital based on cooperative classification standards according to the cooperative ministerial decree and small business and intermediate number 07 / Per / Dep.6 / IV / 2016. Analyze cooperative financial statements based on the Decree of the Minister of Cooperatives and Small and Medium Enterprises Number 07 / Per / Dep.6 / IV / 2016, Evaluate the financial performance of cooperatives. This study uses 1 type of assessment of health aspects and components in the form of: Capital. The assessment will find out how healthy Al Iq-tishody BMT is in terms of finance, and how obedient in predetermined sharia principles. From these calculations the BMT Al Iq-tishody was classified as "Fairly Healthy" Cooperative. This is because it has an unfavorable value because BMT AL-Iqtishody does not yet have a sharia supervisory board, does not yet have equity participation and financing originating from Islamic financial institutions and also cooperative management does not yet have an educational certificate for management of Islamic financial institutions issued by competent parties. Keywords: Capital, Sharia Health and Sharia compliance

scholarly journals Peran Lembaga Keuangan Syariah Dalam Pemberdayaan Usaha Mikro Kecil dan Menengah (Studi Kasus Bank Syariah Mandiri Kantor Cabang Lumajang)

2021 ◽  
Vol 18 (3) ◽  
pp. 392-405
Author(s):  
Maryani Maryani ◽  
Zainal Abidin
Keyword(s):  
Financial Institutions ◽  
Small And Medium Enterprises ◽  
Profit Sharing ◽  
Business Development ◽  
Qualitative Approach ◽  
Research Use ◽  
Islamic Financial Institutions ◽  
Medium Enterprises

This study aims to describe the role of Islamic financial institutions in the empowerment of micro, small and medium enterprises. This research use desciptive qualitative approach. The results of this study indicate that BSM helps UMKM business progress through financing with competitive profit sharing and supports UMKM business development through programs, such as the blessing of Ramadan with very light profit sharing, year-end programs as well as light profit sharing and also finance the renovation of business premises, procurement merchandise, and procurement of tools and facilities and infrastructure for business.

Mutual Guarantee Systems of Small and Medium-Sized Enterprises in China

2012 ◽  
pp. 230-238
Author(s):  
Yi Yang ◽  
Hong-yan Yan ◽  
Ze-yun Yang
Keyword(s):  
Financial Institutions ◽  
Organization Theory ◽  
Small And Medium Enterprises ◽  
The Self ◽  
Self Organization ◽  
Operation Efficiency ◽  
Far From Equilibrium ◽  
High Level ◽  
Medium Enterprises ◽  
Industry Associations

Mutual guarantee systems (MGS) of small and medium enterprises (SMEs) are complex system mainly serving the SMEs, including the mutual guarantee institutions formed by SMEs, financial institutions, industry associations and credit re-guarantee institutions. From the perspective of system theory, this paper illuminates the self-organization mechanisms and the self-organization characteristics of openness, far-from-equilibrium, nonlinearity and fluctuation of mutual guarantee systems of SMEs. The implication of self-organization theory is that under some conditions, mutual guarantee systems have the internal tendencies of autopoietic, self-evolution and evolution from disorder to order and from low level to high level to solve SMEs’ financing problems. Using self-organization theory, this paper proposes suggestions and measures to improve the operation efficiency of mutual guarantee systems in China.

scholarly journals Innovative solutions to tap “Micro, Small and Medium Enterprises” (MSME) market

2019 ◽  
Vol 27 (1) ◽  
pp. 38-52
Author(s):  
Muhammad Mohsin Hakeem
Keyword(s):  
Financial Institutions ◽  
Emerging Economies ◽  
Risk Sharing ◽  
Small And Medium Enterprises ◽  
Profit Sharing ◽  
Islamic Banks ◽  
Collaborative Model ◽  
Content Type ◽  
Net Worth ◽  
Medium Enterprises

Purpose The purpose of this paper is to indicate an innovative solution to address the financing issues faced by “Micro-, Small and Medium Enterprises” (MSME) in emerging economies. Design/methodology/approach Islamic Financial Institutions (IFIs) especially Islamic banks are competing for high net worth individuals, whereas the MSME sector is largely untapped. A collaborative model for IFIs is suggested, to explore the MSME sector. Islamic Non-Banking Financial Institutions (NBFIs) are operating in these markets through their extensive gross route networks. The multistep collaborative model proposes “Special Purpose Entity (SPE)” partially owned by a single Islamic Bank or consortium and NBFI/s. SPEs can be incorporated with a defined scope, focus areas, risk profile, budget and shareholding patterns. Findings Risk and profit sharing instruments also known as Musharakah and Mudarabah have less than 6 percent share within total financing offered by Islamic banks globally. Risk sharing products offered by Islamic banks are not targeting this sector due to the underdevelopment of instruments, lack of knowledge and resources. Proposed SPEs can operate regionally with a concentration on specific business sectors. Originality/value The SPE model would enable Islamic banks to enter the huge MSME market while mitigating risk. On the contrary, it would enable the large segments of emerging economies (bottom 40 percent population of developing nations) to get involved and actively play their role to attain long-term development goals.

scholarly journals Guidelines and criteria used by formal financial institutions to assess credit applications from small and medium enterprises in South Africa

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Francis T. Asah ◽  
Lynette Louw
Keyword(s):  
South Africa ◽  
Financial Institutions ◽  
Small And Medium Enterprises ◽  
Financial Statements ◽  
Annual Business ◽  
Fundamental Issue ◽  
Step Process ◽  
Background Checks ◽  
Medium Enterprises ◽  
Depth Interviews

Background: The involvement of formal financial institutions (FFIs) in financing small and medium enterprises (SMEs) is and always has been a fundamental issue of concern amongst policymakers and practitioners in developing countries such as South Africa, which experience very low or no economic growth.Aim: This study analysed the guidelines and criteria used by FFIs to assess credit applications from SMEs.Setting: This study investigated the guidelines and criteria instituted by the head office of FFIs when assessing and evaluating credit applications from SMEs in Johannesburg, South Africa.Methods: This study used an interpretivistic research paradigm to achieve the research objectives. Semi-structured in-depth interviews were used to collect data from participants and analysed using the Terre Blanche, Durrheim and Kelly five-step process of content analysis.Results: The findings revealed that assessing the amount of risk, scrutinising financial records, performing thorough background checks and requesting all relevant documentation constitute ways used by FFIs to measure the amount of risk associated with a particular credit application. Additionally, collateral, audited financial statements, annual business turnover, relationship with the bank and credit profile of the owners and/or business are the most important criteria used by FFIs when assessing credit applications.Conclusion: This study provides insights into the guidelines used by FFIs in assessing credit applications and the criteria used by FFIs when assessing and granting credit. This study revealed that some FFIs do not finance foreign-owned businesses as part of their institutional policy.

scholarly journals Financing MSMEs (Micro Small and Medium Enterprises) in Nigeria: Implications of Transaction Costs

2018 ◽  
Author(s):  
Oluseye Ajuwon ◽  
Sylvanus Ikhide ◽  
Joseph Akotey
Keyword(s):  
Financial Institutions ◽  
Small Businesses ◽  
Small And Medium Enterprises ◽  
Survey Method ◽  
Access To Finance ◽  
Access To Credit ◽  
Transactions Cost ◽  
Medium Enterprises ◽  
The Impact ◽  
Depth Interviews

This study investigated the roles of transactions cost in MSMEs access to finance. This was done by investigating the impact of transactions cost on access to credit from both MSMEs and financial institutions (commercial banks and microfinance banks). From the MSMEs’ side, borrowing experience, decision lag, firm size and borrowers’ distance to the loan office were investigated. On the financial institution’s side, the costs of information gathering, loan administration, monitoring and loan enforcement were investigated. We used the questionnaire survey method, in-depth interviews and case studies, as well as the annual financial statements of the banks. We identified interest rate and collateral value as constraints to access to finance for MSMEs. We also found financial institutions’ attitude to MSMEs access to credit was not friendly. Financial institutions need to do more to bring down transaction cost of lending. This hopefully can be achieved by investing more in agent banking which would lower operating costs, as well as spreading risk, and ultimately increase credit intermediation to small businesses.

scholarly journals LEGAL PROTECTION OF CONSUMERS ON FINTECH-BASED BUSINESS LOANS FOR SMALL AND MEDIUM ENTERPRISES (UMKM)

2020 ◽  
Vol 1 (2) ◽  
Author(s):  
Mellisa Rahmaini Lubis
Keyword(s):  
Venture Capital ◽  
Financial Institutions ◽  
Consumer Protection ◽  
Financial Services ◽  
Service Providers ◽  
Small And Medium Enterprises ◽  
Legal Protection ◽  
Services Sector ◽  
Medium Enterprises ◽  
Legal Consequences

Consumers loses have occurred in the practice of Fintech-based loans by non-bank financial institutions. The reports of losses arising from Fintech transactions has increased. This is because many Fintech organizers have not received permission from the OJK but are still able to conduct business activities in Indonesia. The problem in this study is: How is the supervision by the Financial Services Authority (OJK) of non-bank financial institutions providing fintech-based venture capital lenders for MSMEs? And how is the legal consequences of fintech-based business capital loan services for MSME entrepreneurs. The study used normative legal approach and the data analyzed by descriptive qualitative.          The results of this study indicate that supervision by the OJK of non-bank financial institutions providing fintech-based venture capital lenders for SMEs as a form of legal protection to consumers. It is carried out in the form of preventive and repressive protection. Preventive protection is implemented by enacting OJK Regulation Number 77 / POJK.01 / 2016, OJK Circular Letter Number 18 / SEOJK.02 / 2017 and OJK Regulation Number 1 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector. Repressive protection is by applying sanctions against fintech organizers who commit violations in the form of written warnings and fines; restrictions on business activities; and revocation of permission. The legal consequences arising from fintech-based business capital loan services for SMEs to fintech providers are required to improve standards and meet consumer protection aspects. The legal consequence for MSMEs is the potential for fraud and misuse of consumer data by Fintech service providers.

Sign in / Sign up

Export Citation Format

Share Document