Article Per Year (5 Year)
p-Index From 2021 - 2026
0.778
P-Index
This Author published in this journals
All Journal The International Journal of Accounting and Business Society Journal of Accounting and Investment Reviu Akuntansi dan Bisnis Indonesia Journal of Islamic Economic and Business Research Journal of Entrepreneurship and Community Innovations Research of Islamic Economics (RIE)
Muhammad Akhyar Adnan
Department of Accounting, Faculty of Economics, Universitas Muhammadiyah Yogyakarta, Indonesia
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

Published : 11 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 11 Documents
Search

 1   2 
Bridging the Trust Gap: A Qualitative Analysis of Regulatory Stagnation and APEX-Driven Deposit Insurance for Baitul Maal wat-Tamwil in Indonesia Adnan, Muhammad Akhyar; Nugroho, Randhy; Nurhayati, Ely
Journal of Islamic Economic and Business Research Vol. 6 No. 1: June 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v6i1.542

Abstract

Despite the rapid expansion of the formal Islamic financial sector in Indonesia, grassroots Islamic microfinance institutions—specifically Baitul Maal wat-Tamwil (BMT)—experience precarious growth largely attributed to a deficit in public trust. A critical factor driving this trust gap is the exclusion of BMTs from the national deposit insurance framework provided by the Indonesia Deposit Insurance Corporation (LPS). This study employs an exploratory qualitative case study design to investigate the legal, institutional, and operational frictions preventing the integration of BMTs into state-backed guarantee schemes. By triangulating data from elite informant interviews (policymakers from LPS, the Ministry of SMEs, and KNEKS) with a qualitative scoping questionnaire administered to 13 BMT managers, this research uncovers a landscape defined by regulatory arbitrage and institutional voids. To overcome this regulatory stagnation, this paper argues for the restart and operationalization of the APEX (Secondary Cooperative) model. Analyzed through the lens of the "competition-collaboration nexus," the APEX structure enables isolated BMTs to survive a highly competitive financial ecosystem by pooling liquidity, enforcing standardized self-regulation, and establishing mutual guarantees. Ultimately, this industry-led model serves as a vital transitional mechanism toward eventual state-level financial integration.
Co-Authors Challen, Auliffi Ermian Didi Purwoko, Didi Elmanizar, Elmanizar Ghazali, Muhammad Gunawan, Andri Jati, Faradila Kusuma Lovenia, Nia Nugroho, Randhy Nurhayati, Ely Sadhila, Sadhila Sidik, Jihad Sabililah Subing, Hesty Juni Tambuati Yollanda, Mevita