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All Journal El-Barka: Journal of Islamic Economics and Business Niqosiya: Journal of Economics and Business Research
Adinda Rizqi Nur Azizah
UIN Kiai Ageng Muhammad Besari Ponorogo
Economics, Econometrics & Finance Social Sciences

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Learning from the Bangladeshi Islamic Microfinance Model for Sharia Microfinance Development in Indonesia Adinda Rizqi Nur Azizah; Amin Wahyudi; Raisha Salisa Ahmad
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 2 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i2.12329

Abstract

The extreme institutional fragmentation of Indonesia's 4,500+ BMT units has led to an inability to achieve economies of scale despite serving 3.7 million customers with assets of Rp 16 trillion, while the Bangladesh centric bank model (RDS-IBBL) serves 520,000 members with high efficiency but at the expense of social closeness, creating a trade-off of efficiency versus embeddedness that requires systematic investigation. The research uses a comparative qualitative method by analyzing academic literature 2008-2025, institutional reports (UNDP, Bangladesh Bank, OJK, LAZ), and regulatory documents through comparative descriptive analysis of six dimensions with multi-source triangulation validity. Empirical findings show that the Bangladesh bank-centric model achieved a recovery rate of >95% and increased the income of 72% of participants, while the Indonesian community-based model had a recovery rate of 85-90% but was resilient during the 1997-1998 crisis, with a dominance of 70-80% in both countries, explained five factors: transaction cost economics, extreme information asymmetry, institutional path dependency, regulatory constraints, and customer preference for certainty. The theoretical contribution validates the path dependency theory that institutional design shaped by historical trajectories is different (the legacy of the Grameen Bank versus the tradition of mutual cooperation) and rejects the assumption of convergence by proving persistent diversity that is context-dependent. The policy implications include five recommendations: a national apex body BMT for shared services while preserving local autonomy; Sharia Microfinance Academy with a target of 5,000 certified professionals in 5 years; harmonization of OJK regulations, Ministry of Cooperatives, Ministry of Religion; dual-track financing strategy to increase PLS proportion from <20% to 40% in 5 years; and the Structured Waqf Zakat Microfinance Integration Model Graduated Approach (70-80% Mustahiq to become muzakki in 2-3 years), requires a national coordination framework to transform the MFI ecosystem from atomistic fragmented to networked professionals to contribute optimally to the SDGs.
Penerapan Circular Economy dalam Pengelolaan Limbah Di Pondok Pesantren Subulul Huda Adinda Rizqi Nur Azizah; Fibrianis Puspita Anhar
Niqosiya: Journal of Economics and Business Research Vol. 5 No. 1 (2025): January-June 2025
Publisher : Universitas Islam Negeri Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/niqosiya.v5i1.4573

Abstract

This research examines the implementation of the circular economy concept through waste management at the Subulul Huda Kembangsawit Islamic Boarding School. As the number of students increases, this boarding school faces increasingly complex waste management challenges, which reach 150 kg every day. Since 2000, Islamic boarding schools have begun to implement the circular economy concept which was initiated by the caretaker council and Asatid as a solution to the problem of burning waste. This research uses qualitative methods, data is collected through interviews, observation and documentation. The research results show various waste management initiatives through seven main activities that follow the 5R concept (reduce, reuse, recycle, refurbish, and renew) including: managing organic waste into animal feed and fertilizer, managing inorganic waste into various creative products, conditioning waste water through IPAL, using used clothes through a thrifting program, reusing used building wood into furniture, using cloth sanitary napkins for female students, and using refillable liquid washing soap to reduce plastic packaging. Islamic boarding schools optimize circular economy activities through socialization and waste management training for students. This research contributes to the development of a circular economy-based waste management model that can create a clean, healthy, sustainable environment and increase financial independence in Islamic Education Institutions. The findings of this research can be a reference for the government in formulating environmental management policies that are integrated with Islamic values and provide practical guidance for other Islamic educational institutions in developing sustainable environmental management programs.
Co-Authors Amin Wahyudi Fibrianis Puspita Anhar Raisha Salisa Ahmad