Strategic Alliances between Sharia Microfinance Institutions and Financial Technology in Strengthening Small Micro Enterprises (MSEs)

Amalia, Euis; Nurhalimah, Siti

doi:10.21043/iqtishadia.v13i2.7743

Cited by 2 publications

(1 citation statement)

References 9 publications

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“…Furthermore, strategic alliances between Sharia microfinance institutions and financial technology have been found to be effective in strengthening access to capital sources for small and micro-enterprises, improving community financial literacy and financial inclusion [25]. This suggests that the integration of technology can be a potential solution to the challenges faced by Shariacompliant financial products.…”

Section: Nexus Between Sharia-based Finance and Microfinancementioning

confidence: 99%

Development of Sharia-Based Financial Products and Microfinance in Islamic Economy

Ratnawita,

Nurdiani,

Judijanto

et al. 2023

WSJEE

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Within the context of Islamic economics, this study examines the dynamic interactions between the growth of microfinance and the creation of financial products based on Sharia. The study used a quantitative research methodology to examine significant variables, including the expansion of financial instruments that comply with Sharia law, the availability of microfinance, and the socioeconomic consequences of these endeavors. The study covers a wide range of Islamic economies and uses statistical methods to evaluate the relationship between the uptake of financial products based on Sharia and the improvement of microfinance services. The results provide quantitative insights into how Islamic finance and microfinance are developing, with implications for future research projects, financial institutions, and regulators.

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Section: Nexus Between Sharia-based Finance and Microfinancementioning

confidence: 99%

Development of Sharia-Based Financial Products and Microfinance in Islamic Economy

Ratnawita,

Nurdiani,

Judijanto

et al. 2023

WSJEE

View full text Add to dashboard Cite

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Sharia crowdfunding in Indonesia: a regulatory environment perspective

Syarif,

Aysan

2024

JSTPM

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Purpose This study aims to understand the practices and rules of Sharia crowdfunding policies in Indonesia given the rapid growth of financial technology and the increasing importance of crowdfunding as a funding alternative for micro, small, and medium enterprises (MSMEs). Design/methodology/approach This study used qualitative methods, exploratory methods and literature studies for data collection. The focus is on understanding the regulatory environment and institutional framework that support Sharia crowdfunding in Indonesia. Findings Despite a specific law regulating Sharia crowdfunding, several authoritative institutions in Indonesia offer FinTech, crowdfunding and Sharia crowdfunding services. Some regulations have been issued, such as Bank Indonesia Regulation Number 19/12/PBI/2017 and Financial Services Authority (OJK) Regulation Number 37/POJK.04/2018, which was later amended to Number 57/POJK.04/2020. This study emphasizes the crucial role of OJK in providing security guarantees for implementing FinTech, including crowdfunding. At the same time, Sharia crowdfunding also follows fatwas issued by DSN-MUI. Research limitations/implications This study describes Sharia crowdfunding policies in Indonesia and indicates that further research could delve deeper into specific cases and examine the impact of these policies on the growth and sustainability of Sharia crowdfunding. Practical implications This study underlines the need to enhance Sharia crowdfunding standards and to create rules that explicitly address this issue. This has implications for regulatory authorities, FinTech companies and MSMEs seeking to leverage Sharia crowdfunding. Social implications This study suggests potential social implications, including a more inclusive financial system that complies with Islamic principles and supports MSMEs' growth. Originality/value This study is unique in its focus on Sharia crowdfunding policies in Indonesia, providing a comprehensive view of the regulatory landscape and existing institutional framework.

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Strategic Alliances between Sharia Microfinance Institutions and Financial Technology in Strengthening Small Micro Enterprises (MSEs)

Cited by 2 publications

References 9 publications

Development of Sharia-Based Financial Products and Microfinance in Islamic Economy

Development of Sharia-Based Financial Products and Microfinance in Islamic Economy

Sharia crowdfunding in Indonesia: a regulatory environment perspective

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