scholarly journals Wakaf Uang Solusi Alternatif Memberdayakan Ekonomi Umat Studi Kasus Pada BMT Mandiri Sejahtera Karangcangkring Jawa Timur

2018 ◽  
Vol 3 (2) ◽  
Author(s):  
Misbahul Khoir
Keyword(s):  
Small Businesses ◽  
Profit Sharing ◽  
Alternative Solution ◽  
Economic Empowerment ◽  
The Poor ◽  
Microfinance Institution

Bayt al-Mal wa al-Tamwil (BMT) is a microfinance institution that is operated with profit sharing or sharia principle by developing micro and small businesses, in order to elevate degrees and dignity and defend the interests of the poor. BMT (Baitul Mal Wat Tamwil) also receives deposits from zakat, waqf, infaq and sadaqah funds and optimizes its distribution in accordance with its regulations and mandates. The concept of money or cash waqf even though only with 10,000 nominal customer however, endowments have enormous potential to be explored and developed with an emphasis on how the potential of money waqf can be an alternative solution in order to empower the ummah economy through BMT Mandiri Sejahtera Karangcangkring East Java. This BMT Mandiri Sejahtera Karangcangkring in East Java outlines the types of products classified into three, namely savings, financing and services. There are three deposits: Simaster, Hajj and Umrah savings, and qurban savings. There are five financing, namely murabahah, rahn, mudlarabah, musharakah, and ijarah. While service products such as exchange of ringgit money, remittances from within / abroad, PLN online payments, Token, Telkom, FIF, BAF, Adira Finance, Oto Finace, WOM Finance, STNK/mutation installment installments. Although there are weaknesses, the result of research shows that the threat that is feared will hamper the endowment of money products on Mandiri Sejahtera BMT but this is not a burden, the most important is that this product does not violate the rules of sharia and is permissible in Islam because the application of money waqf products in Mandiri Sejahtera BMT is appropriate, namely the value the principal remains and the remaining proceeds from the money endowments will be distributed for virtue. Keywords: Cash Waqf, Society Economic Empowerment, BMT Mandiri Sejahtera

scholarly journals WAKAF UANG SOLUSI ALTERNATIF MEMBERDAYAKAN EKONOMI UMAT STUDI KASUS PADA BMT MANDIRI SEJAHTERA KARANGCANGKRING JAWA TIMUR

2018 ◽  
Vol 3 (1) ◽  
pp. 91-100
Author(s):  
Misbahul Khoir
Keyword(s):  
Small Businesses ◽  
Profit Sharing ◽  
Alternative Solution ◽  
The Poor ◽  
Microfinance Institution

Bayt al-Mal wa al-Tamwil (BMT) is a microfinance institution that is operated with profit sharing or sharia principle by developing micro and small businesses, in order to elevate degrees and dignity and defend the interests of the poor. BMT (Baitul Maal Wat Tamwil) also receives deposits from zakat, waqf, infaq and sadaqah funds and optimizes its distribution in accordance with its regulations and mandates. The concept of money or cash waqf even though only with 10,000 nominal customer however, endowments have enormous potential to be explored and developed with an emphasis on how the potential of money waqf can be an alternative solution in order to empower the ummah economy through BMT Mandiri Sejahtera Karangcangkring East Java. This BMT Mandiri Sejahtera Karangcangkring in East Java outlines the types of products classified into three, namely savings, financing and services. There are three deposits: Simaster, Hajj and Umrah savings, and qurban savings. There are five financing, namely murabahah, rahn, mudarabah, musharakah, and ijarah. While service products such as exchange of ringgit money, remittances from within / abroad, PLN online payments, Token, Telkom, FIF, BAF, Adira Finance, Oto Finace, WOM Finance, STNK/mutation installment installments. Although there are weaknesses, the result of research shows that the threat that is feared will hamper the endowment of money products on Mandiri Sejahtera BMT but this is not a burden, the most important is that this product does not violate the rules of sharia and is permissible in Islam because the application of money waqf products in Mandiri Sejahtera BMT is appropriate, namely the value the principal remains and the remaining proceeds from the money endowments will be distributed for virtue.

scholarly journals ASSESSING ECONOMIC IMPACT OF MICROCREDIT SCHEME: A REVIEW OF PAST STUDIES ON AMANAH IKHTIAR MALAYSIA (AIM)

2020 ◽  
Vol 5 (1) ◽  
pp. 124-142
Author(s):  
Noor Syafinas Muda ◽  
Ku 'Azam Tuan Lonik
Keyword(s):  
Economic Impact ◽  
Small Businesses ◽  
Economic Status ◽  
Empirical Studies ◽  
Well Being ◽  
Poor People ◽  
Self Employment ◽  
Economic Impact Assessment ◽  
The Poor ◽  
Microfinance Institution

Background and Purpose: Microcredit scheme was introduced to provide credit facilities for poor people to start a business activity. Microcredit creates income-generating self-employment activities that allow poor people to venture into small businesses and achieve economic independence. The scheme has been recognised as a successful tool to uplift the socio-economic status among the poor. Amanah Ikhtiar Malaysia (AIM) is the largest microfinance institution in Malaysia and therefore, its impact on the beneficiaries is crucial to be studied. This paper aims at reviewing the economic impact of AIM based on the existing literature.   Methodology: Four electronic databases, which are Scopus, Science Direct, Springer and Ebscohost were used to search the literature. Subsequently 118 articles were generated from this search. However, only 13 articles which met the selection criteria were analysed. We selected only empirical studies that focused on the economic impact of AIM.   Findings: Results of the review showed that income has dominated the economic impact assessment followed by asset, economic vulnerability and spending. Low concentration on the indicators other than income should be noted especially on spending as it provides a clear evidence that the recipients enjoy the economic well-being in terms of consumption expenditure.   Contribution: This review reveals that microcredit has a great potential to uplift the economic status of the poor.   Keywords: Amanah Ikhtiar Malaysia, asset, economic impact, income, microcredit.   Cite as: Muda, N. S., & Tuan Lonik, K. A. (2020). Assessing economic impact of microcredit scheme: A review of past studies on Amanah Ikhtiar Malaysia (AIM).  Journal of Nusantara Studies, 5(1), 124-142. http://dx.doi.org/10.24200/jonus.vol5iss1pp124-142

scholarly journals Sakofa: Evaluating Zakat Microfinance Program

2018 ◽  
Vol 2 (3) ◽  
Author(s):  
Rakhmawati
Keyword(s):  
Poverty Alleviation ◽  
Primary Data ◽  
Economic Empowerment ◽  
Poverty Index ◽  
Benefit Evaluation ◽  
The Poor ◽  
Microfinance Institution ◽  
Saving Behavior ◽  
Empowerment Program

Zakat microfinance (ZMF) is an alternative to the limitation of zakat institution and microfinance institution in empowerment program. To make sure the zakat microfinance is on the track and to boost its performance and its benefit, evaluation is needed. This study aims to do an operational evaluation of productive zakat program formed in the micro-economic empowerment program named Sakofa (Madrasah Ekonomi Dhuafa/ School for Economics of the Poor) of Dompet Dhuafa Yogyakarta. Primary data were gathered from Sakofa beneficiaries in Sleman, Bantul, and Gunung Kidul. The findings show that all monetary aspects are better after running the program. Using ADePT software, headcount index, poverty gap, poverty severity, Watts index, and the average time taken to exit poverty are lower after doing the program. Altruism and saving behavior are better after Sakofa Program is implemented. Unfortunately, mustahiq were lack of discipline and desire to be independent. The effectiveness of counseling material on religiosity is the lowest. In short, Sakofa Program has a good performance in improving their prosperity. Keywords: productive zakat, zakat microfinance, poverty alleviation, empowerment, poverty index

scholarly journals Dampak Penyaluran Zakat Produktif Terhadap Pemberdayaan Ekonomi Mustahik (Kajian pada Lembaga Keuangan Mikro Syariah Baitul Mal Aceh)

2020 ◽  
Vol 2 (2) ◽  
pp. 312-332
Author(s):  
Juliani Juliani
Keyword(s):  
Poverty Reduction ◽  
Sampling Technique ◽  
Regression Equation ◽  
Equation Method ◽  
Economic Empowerment ◽  
P Value ◽  
The Poor ◽  
Microfinance Institution ◽  
Independent Variable ◽  
Comprehensive Study

The productive distribution of zakat is expected to empower mustahik to accelerate poverty reduction. Therefore, Baitul Mal Aceh has formed Productive Zakat Management Unit which was later developed into Sharia Microfinance Institution (LKMS). The institution aims to empower the economy of the poor through productive distribution of zakat in the form of interest-free financing (Qardhul Hasan). Hence, it is necessary to conduct a comprehensive study to discover to effect of the productive zakat on economic empowerment of mustahik. Specifically, the purpose of this study is to investigate: 1) the distribution of productive zakat (X), 2) economic empowerment of mustahik (Y), 3) the effect of productive zakat on economic empowerment of mustahik at LKMS Baitul Mal Aceh. This study performed regression equation method Y = a + bX. The data was collected by distributing questionnaires and there were 160 respondents chosen by using convention sampling technique. The results of study proved that LKMS Baitul Aceh has a good achievement in distributing productive zakat through utilization, target, and distribution. In term of economic empowerment of mustahik, the improvement is needed through training, business managing, and assisting.  The distribution of productive zakat (X) have a significant effect on economic empowerment of mustahik (Y) as tscore (3.637) >ttable (1.97509) and F score (13.231) >F table (3.9). In addition, p value (Sig) of 0.0000 is below alpha 5% proofing that hypothesis H1 is accepted which means there is a significant effect of the distribution of productive zakat on economic empowerment of mustahik at LKMS Baitul Mal Aceh. The regression equation obtained for Y = a + bX is Y = 55.511 + 0.149Y. The equation implies that the changes of 0.149 for dependent variable (Y) result from 1 point changes in the independent variable (X).

scholarly journals Muḍārabah and mushārakah as micro-equity finance: perception of Selangor’s disadvantaged women entrepreneurs

2020 ◽  
Vol 12 (2) ◽  
pp. 217-237
Author(s):  
Reazul Islam ◽  
Rubi Ahmad
Keyword(s):  
Women Entrepreneurs ◽  
Structural Equation ◽  
Islamic Law ◽  
Profit Sharing ◽  
Equity Financing ◽  
Content Type ◽  
Disadvantaged Women ◽  
Poor Women ◽  
Microfinance Institution ◽  
Equity Finance

Purpose This study aims to gain the perception of Selangor’s disadvantaged women on the Sharīʿah (Islamic law) rules on two micro-equity financing instruments, namely, muḍārabah (profit sharing) and mushārakah (profit-and-loss sharing) (M&M). Design/methodology/approach A survey was carried out in the rural area of Selangor district in Malaysia by administering a self-generated structured questionnaire. A total of 330 completed questionnaires were retrieved from the members of an Islamic microfinance institution (IsMFI), namely, Amanah Ikhtiar Malaysia (AIM). The data were analysed by using structural equation modelling. Findings The female borrowers of AIM perceive the Sharīʿah rules of M&M requiring high moral and ethical values and diligent repayment performance. They are aware of some other underlying provisions such as business liquidation, share transfer, information discloser and business termination. The overall findings of this study suggest that the perceived Sharīʿah rules are akin to those that are commonly used in general partnership businesses between Muslims. It also indicates that disadvantaged entrepreneurs would accept the rules that are easy to comprehend as well as favourable to their interests. It further suggests that respondents’ experiences of microfinance and business operation do not have a significant influence on their perception of M&M instruments. Research limitations/implications This study was limited to Selangor. So, the perception of Muslim women surveyed may not represent the views of all women in Malaysia. However, it can offer a primary understanding of the said issue. Practical implications The findings of this study can help IsMIFs take initiatives to offer M&M as micro-equity finance to poor women entrepreneurs. Originality/value So far, limited studies have been carried out on M&M-based microfinancing. This paper offers new insights presenting disadvantaged women entrepreneurs’ perception of these financing instruments.

SOCIO-ECONOMIC EMPOWERMENT OF WOMEN THROUGH MICRO CREDIT: AN EMPIRICAL STUDY

2021 ◽  
pp. 58-60
Author(s):  
T. Indumathi ◽  
G. Savaraiah
Keyword(s):  
Rural Women ◽  
Poverty Reduction ◽  
Rural Poverty ◽  
Poverty Line ◽  
Economic Empowerment ◽  
Political Empowerment ◽  
The Poor ◽  
The Government ◽  
The Impact ◽  
Micro Credit

The World Bank's Andhra Pradesh Rural Poverty Reduction Project supports the self helf groups of the women members. It promotes women's social, economic, legal and political empowerment to reduce poverty among the poor and the poorest of the poor. The important object of this article is to examine the impact of micronance on the socio economic empowerment of the rural women supported by the national reputed NGO- Rashtriya Seva Samithi (RASS). 184 women members of the SHGs promoted by Rasthriya Seva Samathi (RASS) an NGO which located in Tirupati town. 184 samples are selected randomly from 15 SHGs scattered throughout the Tirupati rural mandal (Taluk) from the area of the study have been considered to conduct the present research study. The study reveals that 87.71 percent of the sample women were below the poverty line before joining the SHGs. As a result of SHG, about 40 percent of the sample women crossed the poverty line. The highest intensive value indicates that more women have participated in social agitations for the welfare of the children and the society. The second highest intensity reveals that considerable numbers of women of SHGs have participated in the government sponsored schemes. The 1st point secured 3rd rank with total intensity value of 605 which status that the micro credit has resulted in increased social status and empowerment.

Pros and Cons of Integrating Non-Financial Services in Microfinance

2018 ◽  
pp. 171-199
Author(s):  
Nhung Thi Hong Vu
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Poverty Reduction ◽  
Microfinance Institutions ◽  
Negative Effects ◽  
The Poor ◽  
Need Support ◽  
Microfinance Institution ◽  
Pros And Cons

Microfinance as argued in recent literature is not a panacea for poverty reduction as it was expected. The poor may need support from various ranges of non-financial services including business development services and social services alongside microfinance services. The main aim of this chapter is to provide policymakers and practitioners some discussions on the pros and cons of integrating non-financial services together with microfinance services. This chapter proposes a framework of both positive and negative effects of providing non-financial services on microfinance institutions and clients. A case study of offering non-financial services in a microfinance institution in Vietnam provides both quantitative and qualitative evidence of effects on the microfinance institution and its clients.

Deploying ICT to Enhance Small Businesses and Achieving Sustainable Development

2019 ◽  
pp. 638-662
Author(s):  
Ojinga Gideon Omiunu
Keyword(s):  
Sustainable Development ◽  
Federal Republic ◽  
Federal Government ◽  
Small Businesses ◽  
Growth And Development ◽  
Family Needs ◽  
Business Growth ◽  
The Poor

Beside the SMEs, families operate small and fragmented businesses due to poverty and unemployment to help cater for their needs and family needs. These small and fragmented businesses are common among the poor due to lack of credit to expand such businesses. In addition, with the mandate from the federal government of Nigeria, every business must be registered with the Corporate Affairs Commission of the federal republic of Nigeria and pay a certain amount of money every year depending on level of business growth and development. Suffice to note that despite the payment of these charges by businesses, nothing is done by the federal government to assist them.

The Tax Revolt

2021 ◽  
pp. 97-101
Author(s):  
Samuel Cohn
Keyword(s):  
Middle Class ◽  
Working Class ◽  
Small Businesses ◽  
Political Change ◽  
Fortune 500 ◽  
Welfare Programs ◽  
Short Answer ◽  
The Poor ◽  
The Government ◽  
Government Benefits

This chapter looks at state shrinking and tax cutting, describing how political change in capitalism would come to be dominated by a conservative middle class rather than a leftist working class. Why was there going to be a middle-class tax rebellion? The short answer is that most of the taxes under capitalism are paid by two groups: small businesses and rich individuals. Fortune 500 corporations and large banks pay very few taxes; this group can be called monopoly capital because they are entitled, fully legally, to a wide variety of exemptions that they make full use of. Meanwhile, the poor pay very few taxes because they simply do not have the money. Ultimately, small businesses, wealthy individuals, and the middle class are paying a disproportionately large amount of the expenses of the government while receiving a disproportionately small amount of government benefits. This makes those taxpayers resentful of government bureaucrats, welfare programs, and government waste.

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