Mohon tunggu...
Financial

"The Role of Sharia Banking in Indonesian Economy"

4 Juli 2018   11:38 Diperbarui: 4 Juli 2018   11:45 986
+
Laporkan Konten
Laporkan Akun
Kompasiana adalah platform blog. Konten ini menjadi tanggung jawab bloger dan tidak mewakili pandangan redaksi Kompas.
Lihat foto
Finansial. Sumber ilustrasi: PEXELS/Stevepb

Talking about banking, it is concerned with the terms of interest and profit sharing. The term interest is usually used by conventional banks whereas the term of profit sharing is usually used in sharia banks. 

A thought saying that the system of interest run by conventional financial institutions which is forbidden in Islam, has trigerred the emergence of sharia banks in the early in the 1990s. It began with anxiety among the scholars after the government's policy on the ease of establishing a conventional bank with an initial capital of 10 billion rupiah. 

The first sharia bank is PT. Bank Muamalat Indonesia which was established in November 1991 and it became the first sign or role model of sharia bank in Indonesia. According to Article 1 paragraph (7) of Law Number 21 Year 2008 concerning Sharia Banking explains that sharia bank is a bank that runs its business activities based on sharia principles (Kara, 2013, page 316). 

In sharia banking, the returns received from customers or paid to customers depend on the contract and agreement made by both the customer and the bank. Agreement (akad) contained in sharia banking must be subject to the terms and rules of the contract as stipulated in the Islamic rules. Of course Sharia banks play a major role in the Indonesian economy based on Islamic law. Here are two roles of sharia banks that will be explained.  

The first role is the contribution of sharia banks to finance the development of micro, small and medium enterprises. Small and medium-sized micro businesses in today's economy have a very important position, because of their contribution to employment and Gross Domestic Product (GDP), as well as their flexibility and resilience in the face of a prolonged economic crisis. This makes SMEs as the main hope or the backbone of the national economy improvement. 

SMEs is also a strategic economic actor as the number significantly reaches 99.95% of the total number of businesses in Indonesia (Kara, 2013, page 317). The main problem faced by the SMEs sector is the issue of capital. In this case, SMEs has difficulty in obtaining capital from banks. One of the reasons is high loan interest rate and collateral minded in obtaining credit which is difficult to fulfill. Financing provided by Islamic banks has different characteristics from that provided by conventional banks. The problems that arise relating to this is about what kind of financing which is suitable for SMEs and how sharia banks should respond to the needs of SMEs. 

In this case sharia banking contributes to channeling funds for the perpetrators of SMEs to run their business. Sharia principles in financing for SMEs follow a procedure or system, where the bank does not lend a certain amount of money to the customer, but finance the customer's needs project. In this case the bank serves as the intermediary of money without lending money and lend the money. 

Instead, the customer's business financing can be done by purchasing the required goods of the customer, then the bank sells back to the customer, or it can be by way of the bank to include capital in the customer's business. Thus, customers should not be afraid of high interest rates because the financing made by Islamic banks does not use interest rates.   The second role is how sharia banks can reduce poverty. 

The government in this case provides policy on the functions and duties and objectives of sharia banks not only as profit orientation based on Islam, but also authorizes the Sharia Bank to empower Zakat, Infaq and Shodaqoh (ZIS) as the collector and distributor of zakat funds (Hamid and Aris , 2017, page 76). However, the Sharia Banking Law No.21 of 2008 Article 4 paragraph 2 explains that the Bank Sharia only collects zakat funds, but the management hands over to the zakat management agency that is set in the Zakat Law no. 23 of 2011. 

Sharia banking is required to perform social roles but on the other hand Sharia Bank is not entitled to manage the zakat funds that he collects. This means that Sharia Bank does not have the right also in terms of distribution of zakat funds. In the practice of accumulating zakat funds in sharia banking, zakat funds can be obtained by sharia banking through deposits from customers. 

Deposits from customers can be wadi'ah giro, savings wadi'ah, mudharabah savings, and mudharabah deposits. In addition, zakat can also be obtained from the provision of capital provided by sharia banking. This zakat collection is a pressure for customers to continue to increase their investment. Because, if this fund is not productive or just a wadi'ah yad amanah it will happen idle fund. Thus, the contribution of sharia banks in reducing poverty is not seen directly because Islamic banks only as financial institutions that manage zakat but do not distribute it to the poor.  

HALAMAN :
  1. 1
  2. 2
Mohon tunggu...

Lihat Konten Financial Selengkapnya
Lihat Financial Selengkapnya
Beri Komentar
Berkomentarlah secara bijaksana dan bertanggung jawab. Komentar sepenuhnya menjadi tanggung jawab komentator seperti diatur dalam UU ITE

Belum ada komentar. Jadilah yang pertama untuk memberikan komentar!
LAPORKAN KONTEN
Alasan
Laporkan Konten
Laporkan Akun