Performance Improvement for Micro, Small and Medium Enterprises (SMEs) with Social Financing Model

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Falikhatun: Business and Economic Faculty, Universitas Sebelas Maret, Indonesia Author-2-Name: Yasmin Umar Assegaff Author-2-Workplace-Name: Business and Economic Faculty, Universitas Sebelas Maret, Indonesia Author-3-Name: Hasim Author-3-Workplace-Name: Business and Economic Faculty, Universitas Sebelas Maret, Indonesia

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Abstract: "Objective � This study aims to analyze the implementation of Qardhul Hasan in Islamic Banking in Indonesia. This study uses the phenomenology approach to explain the phenomenon. Methodology/Technique � Data were collected through in-depth interviews, observation, and documentation and analysis was conducted using the Interpretative Phenomenological Analysis (IPA) and the Sharia Analysis. Findings � Results drawn from the Interpretative Phenomenological Analysis (IPA) show that: (1) The meanings of Qardhul Hasan in Islamic Banking in Indonesia are diverse. Qardhul Hasan was interpreted as loans and charity. The sources of fund drawn from the Qardhul Hasan sources in Islamic Banking in Indonesia originated from Infaq, charity, non-halal funds, fines, and donations. Qardhul Hasan in Islamic Banking in Indonesia was implemented with two models: Productive Loan Fund Distribution and Social Fund Distribution. From the Sharia Analysis, it was noted that most of the Qardhul Hasan objects were approved by the Islamic Economic Theory. Novelty � The novelty of this study lies in the analysis results which proposed that (1) Qardhul Hasan should be interpreted according to its goodness principles, (2) Source of Funds for Qardhul Hasan should come from ZISWAF, and (3) The model of empowerment should be developed according to the needs of the Indonesian population, especially as a maritime country"

Keywords: Performance; SMEs; Social Financing Model; Sharia Analysis; Interpretative Phenomenological Analysis. (search for similar items in EconPapers)
JEL-codes: M13 P31 (search for similar items in EconPapers)
Pages: 6
Date: 2016-12-12
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Published in Journal of Finance and Banking Review, Volume 1, Issue 1

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