scholarly journals Exploring the Motivation for Pesantren-Based Microfinance Institution Development: Schutz’s Phenomenological Approach

2020 ◽  
Vol 55 (5) ◽  
Author(s):  
Siswanto
Keyword(s):  
Empirical Study ◽  
Cultural Differences ◽  
Phenomenological Approach ◽  
Concept Development ◽  
Motivation Theory ◽  
Microfinance Institutions ◽  
Social Concern ◽  
Religious Motivation ◽  
Entrepreneurial Motivation ◽  
Microfinance Institution

This study aims to explore the meaning of motivation for pesantren-based microfinance institution development based on Schutz’s phenomenological approach. The action motivation for microfinance institution development is typified based on “because motives” and “in order to motives.” Research on entrepreneurial motivation in China, America, and Greece show that cultural differences explain different motivation. Likewise, pesantren-based microfinance institution development is also perceived to have a different sort of motivation from that of other communities. Based on the uniqueness of pesantren communities and motivation differences among countries, this study employs Schutz’s phenomenological approach, taking the subjects as the founders of microfinance institutions in pesantren. The results of the study show the meaning of social concern as a “because motive” and worship as an “in order to motive.” This has implications for the development of a pesantren-based motivation theory. The motivation of social concern and worship can encourage the success of pesantren-based microfinance institution development. The results contribute to the concept development of entrepreneurial motivation. The meaning of entrepreneurial motivation is not only related to material motives but also a social and religious drive. Social and religious motivation complements an empirical study on entrepreneurship motivation.

Implementasi Aksioma Etik Praktik Financing pada Lembaga Keuangan Mikro Syariah sebagai Upaya Mewujudkan Sustainable and Resposible Investment di Indonesia

WADIAH ◽  
2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Ririn Tri Puspita Ningrum
Keyword(s):  
Empirical Study ◽  
National Development ◽  
Qualitative Approach ◽  
Islamic Finance ◽  
Microfinance Institutions ◽  
The World ◽  
Microfinance Institution ◽  
Development Goals ◽  
Islamic Microfinance ◽  
Future Demands

This research is motivated by the fact that the new direction of the concept of development in the world has accepted the concept of Sustainability Development Goals. This implies that all stakeholders involved in national development are required to be able to realize the objectives as contained in the concept, including the Islamic finance business. This business should have a future view. This orientation will encourage Islamic finance to continue to conduct research and development to find various types of needs and technology and other standards that are in line with future demands. It is interesting if the study relates to the implementation of axioms of ethics in realizing the Sustainability Development Goals concept in the Islamic finance business in Indonesia for further research. Through an empirical study with a qualitative approach, this study shows that conceptually, the Islamic microfinance institution agrees with the concept of green banking as a form of sharia compliance. While implementation, Islamic microfinance institutions in Indonesia have not significantly followed the components of green banking. Keywords: Axiom of Ethics, Financing, Sustainable and Resposible Investment, Sharia Microfinance Institutions, green banking.

AKIBAT HUKUM PENDIRIAN LEMBAGA KEUANGAN MIKRO OLEH BADAN HUKUM KOPERASI

2018 ◽  
Vol 4 (1) ◽  
pp. 35-50
Author(s):  
Zakiah Noer
Keyword(s):  
Microfinance Institutions ◽  
Microfinance Institution ◽  
Legal Consequences ◽  
Year 2013

This research is underlined by the existence of cooperative business activities which collect and distribute funds over its members, and also to its non-members. In order to avoid the violation of the provisions in Act No. 25 Year 1992 about Cooperatives, cooperative has established a microfinance institution (MFI) which called as Cooperative MFI. The establishment of microfinance institutions causes the legal consequences on several aspects because of the different regulations between Cooperative and MFI according Act No. 25 Year 1992 about Cooperatives and Act No.1 Year 2013 about Microfinance Institutions

scholarly journals Effect of the Socioeconomic Characteristics of Borrowers on Microcredit Repayment Behaviour: An Application to a Category II Microfinance Institution in Cameroon

2020 ◽  
Vol 3 (2) ◽  
pp. p47
Author(s):  
Ntieche Adamou ◽  
Forbeneh Agha Jude ◽  
Mbondo Georges Dieudonné ◽  
Bilguissou Abba
Keyword(s):  
Educational Level ◽  
Financial Indicators ◽  
Microfinance Institutions ◽  
Probit Regression ◽  
Risk Models ◽  
Loan Contracts ◽  
Socioeconomic Characteristics ◽  
The Social ◽  
Microfinance Institution

The purpose of this study is to determine the influence of socioeconomic characteristics of borrowers on microcredit repayment behaviour. The results of Probit regression statistical analysis using a database of 1805 individual loan contracts, credit records and follow-up files from 2007 to 2014 period by Community Credit of Africa (CCA) in Cameroon, reveal that educational level, awareness about the location of business and/or home of borrowers by the lender, sector of activities, availability of collateral, income stability, and personal wealth of borrowers have a statistically significant influence on microcredit repayment behaviour of borrowers. The outcome of the results shows that microfinance institutions should not only rely on financial indicators to assess the creditworthiness of borrowers. Other factors belonging to the social and economic characteristics of the borrowers are supposed to be integrated in credit risk models. These factors are sought to influence significantly microcredit repayment behaviour of borrowers.

scholarly journals Religion and Economy: How the Act of Rational Economy Dominates Muslim Entrepreneurs

INFERENSI ◽  
2021 ◽  
Vol 15 (1) ◽  
pp. 71-90
Author(s):  
Dede Nurohman ◽  
Evi Muafiah
Keyword(s):  
Qualitative Method ◽  
Business Processes ◽  
Phenomenological Approach ◽  
Community Empowerment ◽  
Business Decisions ◽  
Rational Choices ◽  
Microfinance Institution ◽  
The Right ◽  
Economic Motives ◽  
Data Extracting

This research aimed to explore the motives that encouraged Muslim entrepreneurs to make business decisions in running businesses, and also to examined the effects of their religions as well as the business logics they used toward their trading behaviors. The subjects of this research were the Muslim entrepreneurs running the business of apparel convection in Botoran, Tulungagung. This research used qualitative method with phenomenological approach. The data extracting technique was conducted by documentation, observation, and interviews. The results showed that Muslim traders based their business behaviors on the consideration of rational choices. Such behaviors were manifested in the forms of: choosing to partition their houses as the place of production (home factory); choosing to procure capital through the Chinese; choosing temporary sewing workers; choosing to replace the procurement of computer embroidery machines; dun-dunan rego (decreasing the costs); nembak (lighting); and reluctant to establish a cooperative to accommodate them. Meanwhile, religion, morals, and other values are not considered by them in running their business. The implication of the findings is that religious and economic motives always appeared in a person's business processes. The dominance of one of them was determined by the environment and experience. Sharia financial institutions in the vicinity, such as Sharia Banks and BMT (Baitul Mal wa Tamwil, a sharia-based microfinance institution or cooperative), as well as Islamic organizations, with the right kinship approach, were required to be present to pay attention to business development and community empowerment.

Entrepreneurship in Transition Economies: Is There an Entrepreneurial Characteristic Similarity to Western Entrepreneur?

2018 ◽  
Vol 19 (2) ◽  
pp. 105-157
Author(s):  
Thomas Bradley ◽  
Paul Eberle
Keyword(s):  
Empirical Study ◽  
Cultural Values ◽  
Cultural Differences ◽  
Transition Economies ◽  
Transition Period ◽  
Entrepreneurial Activity ◽  
Cultural Dimension ◽  
Factory Workers ◽  
Cultural Characteristics ◽  
History Of

This empirical study consists of two parts. The first part of the study examines the cultural characteristics and dimensions of entrepreneurs and factory workers in transition economies during the early transition period to determine if their cultural values were similar to those found in other nations. The second part of the study compares the differences in Hofstede’s cultural dimension scores between entrepreneurs and workers in market economies. It might seem extraordinary that after more than 70 years of a centralized nonentrepreneurial society that all of the communist nations that the current authors studied had essentially the same cultural differences among entrepreneurs that were found in capitalist nations with a long history of entrepreneurial activity.

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.

The Fountain of Love Credit Union: A Vibrant Microfinance Institution in a Hostile Inter-Ethnic Society

2012 ◽  
Vol 16 (01) ◽  
pp. 93-114 ◽  
Author(s):  
Rochman Achwan
Keyword(s):  
Social Capital ◽  
Ethnic Group ◽  
Ethnic Groups ◽  
Driving Forces ◽  
Well Being ◽  
Credit Union ◽  
Microfinance Institutions ◽  
Financial Organization ◽  
Mandatory Requirement ◽  
Microfinance Institution

The Fountain of Love Credit Union (FLCU) is a rare example of a vibrant microfinance institution in Indonesia. Located at the heart of a hostile inter-ethnic society in the province of West Kalimantan, the FLCU invents unique types of social capital and financial organization that bolster its unparallel financial performance. In recognition of this achievement, the Indonesian government presented the FLCU with the 2005 Award for Small-Medium Corporate Excellence. Decades of inter-ethnic hostility inspired school teachers to establish the FLCU in 1987. They dreamt of creating a big microfinance institution and promoting the economic well-being of the Dayak ethnic group. The Dayak, one of Kalimantan's two largest ethnic groups, defines itself as disadvantaged. A sense of grievance evolving around these issues culminated in a series of ethnic conflicts. Today, after more than two decades of operations, the FLCU has not only won the trust of most Dayak people but also inspires other ethnic groups to establish microfinance institutions. This environment has allowed unique types of social capital and financial organization to flourish. The Fountain of Love Foundation (FLF), the parent organization of the FLCU, has set up a variety of social and economic organizations. They work in partnership with the FLCU in all aspects of its business, from recruiting, disciplining, and empowering clients to weaving organizational networks with other microfinance institutions. The latter plays a vital role in curbing the penetration of modern micro banking in the province. The FLF, therefore, has become an ethnic-based conglomerate in which the FLCU functions as one of its driving forces. However, the FLCU faces a number of hurdles. Almost all FLCU clients, in rural and urban areas, are of the Dayak ethnic group. From organizational and policy points of view, the legal status of the FLCU is vulnerable as its assets grow beyond the mandatory requirement of the current banking law.

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