Maksum
Universitas Islam Negeri Sunan Kalijaga Yogyakarta

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Developing MSE Sustainability Through Islamic Wealth Management in Madura Maksum; Azis Muslim; Mukhamad Yazid Afandi
Islam Transformatif : Journal of Islamic Studies Vol. 10 No. 1 (2026): January-June 2026
Publisher : Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30983/it.v10i1.10760

Abstract

This study explores the role of Islamic Wealth Management (IWM) in supporting Micro and Small Enterprise (MSE) sustainability in Madura, Indonesia. Using an exploratory approach that combines conceptual analysis and contextual examination, the research examines how five IWM aspects (wealth creation, accumulation, protection, purification, and distribution) can be implemented through existing Islamic financial infrastructure. The study collected data through content analysis of academic literature and documentation from Islamic financial institutions operating in Madura. Findings reveal that extensive Islamic financial infrastructure across four regencies in Madura, including Islamic commercial banks, Islamic rural banks, and Islamic microfinance institutions, provides comprehensive products aligned with each IWM aspect. These five aspects form an integrated cycle, creating a sharia-based circular economy where wealth distribution from established MSEs becomes wealth creation for emerging enterprises. This interconnection potentially supports MSE sustainability across economic (profitability and resilience), social (employment and community cohesion), and spiritual (religious achievement and business blessings) dimensions. The study contributes to IWM literature by demonstrating the importance of infrastructure density and local context in implementation effectiveness. Despite limitations as an exploratory study based on secondary data, findings suggest Madura's Islamic financial infrastructure provides a strong foundation for IWM implementation as an alternative strategy for MSE sustainability.