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Journal : Varia Justicia

LEGAL CONSEQUENCES OF DUALISM REGULATIONS ON MICRO WAQF BANK AS A SHARIA MICROFINANCE INSTITUTIONS IN INDONESIA Prananingtyas, Paramita; Disemadi, Hari Sutra
Varia Justicia Vol 16 No 1 (2020): Vol 16 No 1 (2020)
Publisher : Fakultas Hukum Universitas Muhammadiyah Magelang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31603/variajusticia.v16i1.3205

Abstract

The presence of types of financial institutions in Indonesia makes it easy for people to choose which financial services they need. Micro Waqf Bank is one of the Microfinance Institutions that applies sharia principles that are currently growing and developing. However, there are legal issues related to arrangements for organizing a Micro Waqf Bank with a cooperative legal entity, namely, there are two overlapping regulations, namely the Microfinance Institution legislation, and Cooperative regulations. The purpose of this study is necessary to find out whether the legal consequences arising in the process of establishment, implementation, or if there are problems encountered by Mikro Waqf Banks as a Sharia Microfinance Institution incorporated as a cooperative. This study uses a normative legal research method with a statutory approach and conceptual approach. This study shows that the dualism of Micro Waqf Bank arrangements gives rise to contradictions in the arrangements for the establishment, guidance, and supervision. The existence of this dualism of regulation also gives rise to legal consequences in the establishment of a Micro Waqf Bank incorporated as a cooperative. The legal consequences are related to the broader aspects of business activities based on MFI regulations compared to cooperative regulations. Legal consequences related to capital aspects that require Micro Waqf Banks have a certain amount of capital by MFI regulations. Then from the aspect of coaching and supervision in which there are an examination and evaluation, there is also a dualism which in the regulation of the function of the cooperative is carried out by the Ministry of Cooperatives but the existence of the MFI regulation of the fostering and supervision function is under the authority of the Financial Services Authority.
Co-Authors Abdurrohim, Muhammad Dzakki Achmad Budiman Adikta Nugroho Ahmad Syarief, Ahmad Aminah Aminah Aminudin Aziz Anda Narulita, Hardita Angkat Poenta Pratama Athaya, Ghina Beta Avissa Boni Kristobaik Simangunsong Buana, Chriselda Febriany Kartika Budi Ispriyarso Budi Santoso Budiharto Budiharto Budiharto Budiharto Cahyaning Ratri P Dahana, Thomas Nanda Dewanti Nur Indrati Diba, Nabilah Farah Disemadi, Hari Sutra Dita Veronika Dwi Budi Santoso Edy Sismarwoto Erlangga Nugraha Fifiana Wisnaeni Gabriela Pristya Cahyaningtyas Gika Asdina Firanda Giovanni Bagas Hizkia Gubanov, Konstantin H. Noho, Muhammad Dzikirullah Hafidh Prasetyo, Mujiono Hapsari, Shabrina Hari Sutra Disemadi Hari Sutra Disemadi Hari Sutra Disemadi Hari Sutra Disemadi Harsono, Ivan Hartono, Laksamana Varelino Zeustan Hendro Saptono Hendro Saptono Husin Husin Irawati Irawati Irawati Irawati Irawati Irawati Irma Cahyaningtyas, Irma Islami, Trinah Asi Ismoyo Aji, Anton Kholis Roisah Konstantin Gubanov Kunto Dewandaru, Hilarius Lita Tyesta ALW Lumbanraja, Anggita Doramia Maharani, Ferra Tiara Maimanah, Zahra Amalia Meitiarany Bakhtiar, Rahmah Muhamad Azhar, Muhamad Muhammad Adry Setyawan Muhammad Mizan Aufa Nabila, Nisa Ningsih, Ayup Suran Ninik Zakiyah Niswa, Erin Novira Maharani Sukma Novira Maharani Sukma, Novira Maharani Nur, Aisyah Amini Prasetyo, Mujiono Hafidh Pratama, Angkat Poenta Priscilla D Z Saragih Putri Amalia Putri Islami, Nabilla Putri, Nindy Putri, Preeti Kartika Putri, Trisa Mardeta Ratna Kumala Sari Rinaldy Ridwan Noor Rinitami Njatrijani Ristiyana, Gandes Robertha Nimas Ayu R Salwa, Adinda Maura Sartika Nanda Lestari, Sartika Nanda Siti Mahmudah SITI MAHMUDAH Siti Zulaekhah Sukirno Sukirno Suteki, Suteki Syaifuddin, Luthfi Tanaya Setiadi, Andika Thalib, Nur Aisyah Thariq, Muhammad Ulul Azmi Wahid Hadi Purnomo Wardhani, Harumsari Puspa Widya, Emy Winarso, Teguh Yadev, Marconery Zakiyah, Ninik Zakiyah, Ninik Zhahara, Sekarressie Pathria