Design the Roadmap of Holistic Financial Inclusion for Baitul Maal wat Tamwil
DOI:
https://doi.org/10.30993/tifbr.v12i1.112Kata Kunci:
Social Inclusion, Financial Inclusion, Holistic Financial Inclusion, Baitul Maal wat TamwilAbstrak
This paper aims to design the roadmap of Holistic Financial Inclusion (HFI) by Baitul Maal wat Tamwil (BMT), where Baitul Maal carries out social inclusion and Baitut Tamwil carries out financial inclusion, using Analysis Network Process (ANP). The results show that the most important aspects of HFI are Sustainability, Development Program, Financing Program and Islamic Microfinance Services, while the most important elements of HFI are regular meeting, micro savings, simplicity and easy access, consumption smoothing, bailout debt, savings program and income increase, followed by funding independent, total deposits, mindset change, and micro financing. HFI of BMT could be developed gradually. At the first stage, BMT should have the minimum 16 elements of HFI comprising 4 (four) Social Inclusion elements, 4 (four) Financial Inclusion elements, 4 (four) Double bottom-Line elements and 4 (four) Welfare Impact elements. At the second stage, BMT should add the next 16 elements comprising 5 (five) Social Inclusion elements and 3 (three) Financial Inclusion elements, 5 (five) Double Bottom-Line elements and 3 (three) Welfare Impact elements. Moreover, at the third stage, the remaining 24 elements of HFI should be fulfilled. All Islamic financial institution must have the characteristic of HFI.Referensi
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Hadisumarto, W. B. M. C. and Ismail, A. G. B. (2010). Improving the Effectiveness of Islamic Micro-financing. Humanomics, Vol. 26(1): 65-75.
Hassan, M. K., and Ashraf, A. (2010). An Integrated Poverty Alleviation Model Combining Zakat, Awqaf and Micro-Finance. M. H. A. G. Ismail (Ed.) The Seventh International Conference – The Tawhidi Epistemology, Zakat and Waqf Economy (pp. 261-281). Institut Islam Hadhari,
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Hermes, N., and Lensink, R. (2011). Microfinance, Its Impact, Outreach, and Sustainability. World Development, Vol. 39(6): 875-881.
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Hoque, N., Khan, M. A., and Mohammad, K. D. (2015). Poverty Alleviation by Zakah in a Transitional Economy, A Small Business Entrepreneurial Framework. Journal of Global Entrepreneurship Research, Vol. 5(7): 1-20.
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Iqbal, Z., and Mirakhor, A. (2012). Financial Inclusion, Islamic Finance Perspective. Journal of Islamic Business and Management, Vol. 2(1): 35-64.
Iqbal, Z., and Mirakhor, A. (2013). Islam’s Perspective on Financial Inclusion. Z. Iqbal, and A. Mirakhor. Economic Development and Islamic Finance, 179-200). Washington DC: World Bank Publications.
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Jariya, A. M. (2013). True Economy Prosperity through Poverty Alleviation – Islamic Microfinance as Commercial Venture. International Journal of Business, Economic and Law, Vol. 2(2): 49-53.
Juwaini, A., et al. (2010, May). BMT (Baitul Maal wa Tamwil) Islamic Micro Financial Services for the Poor. Paper presented at the ISO/COPOLCO Workshop, Bali.
Kahf, M. (2002). Role of Zakah and Awqaf in Reducing Poverty, A Proposed Institutional Setting within the Spirit of Shari’ah”, Thoughts on Economics, Vol. 18(3): 39-67.
Kar, A. K. (2010). Sustainability and Mission Drift in Microfinance.
Helshinki, Hanken School of Economics.
Khadijah, S. A., et al. (2013). Sustainability of Islamic Micro Finance Institutions (IMFIs). Universal Journal of Accounting and Finance, Vol. 1(2): 70-77.
Khandker, S. R. (2003). Micro-Finance and Poverty, Evidence Using Panel
Data from Bangladesh. (Policy Research Working Paper 2945), World Bank.
Ledgerwood, J. (1999). Microfinance Handbook, An Institutional and Financial Perspective. Washington DC: World Bank.
Leyshon, A., and Thrift, N. (1995). Geographies of Financial Exclusion, Financial Abandonment in Britain and the United States. Transactions of the Institute of British Geographers, Vol. 20(3): 312-341.
Littlefield, E., Morduch, J., and Hashemi, S. (2003). Is Microfinance an Effective Strategy to Reach the Millenium Development Goals. Focus Note of CGAP 24.
M Alfriska, M., and Haryani, S. (2011). Regional Development Banks Performance in Indonesia. Proceedings of the First International Credit Union Conference on Social Microfinance and Community Development (pp. 91-94).Jakarta: BKCU Kalimantan and Gunadarma University.
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Mohieldin, M., et al. (2012). The Role of Islamic Finance in Enhancing Financial Inclusion in Organization of Islamic Cooperation (OIC) Countries. Islamic Economic Studies, Vol. 20(2): 55-120.
Morduch, J. (2000). The Microfinance Schism. World Development, Vol. 28(4): 617-629.
Naceur, S. B., Barajas, A., and Massara, A. (2015). Can Islamic Banking Increase Financial Inclusion? IMF Working Paper [15/31].
Natilson, N., and Bruett, T. (2001). Financial Performance Monitoring, A Guide for Board Members of Microfinance Institutions. Bethesda: Development Alternatives, Inc.
Nazirwan, M. (2015). The Dynamic Role and Performance of Baitul Maal Wat Tamwil, Islamic Community-Based Microfinance in Central Java (Doctoral Dissertation). Victoria University.
Njuguna, A. G. (2012). Critical Success Factors for a Micro-Pension Plan, an Exploratory Study. International Journal of Financial Research, Vol. 3(4): 82-97.
Obaidullah, M. (2008). Introduction to Islamic Finance. New Delhi: IBF Net Limited, India.
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2018-07-27
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Ascarya, ., 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). https://doi.org/10.30993/tifbr.v12i1.112
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