Implementasi Bank Wakaf Mikro Dalam Prespektif Hukum Islam Dan Undang-Undang No 1 Tahun 2013 Tentang Lembaga Keuangan Mikro

Abstract

The  development  of  the  Islamic  economic  system  in  Indonesia  every  year  is  quite  significant. The Indonesian government established the Micro Waqf Bank in 2018 with the aim of providing capital loans for the empowerment of the poor. This institution operates in accordance with the provisions outlined in Law No. 1 of 2013 on Microfinance Institutions. This research examines the readiness and suitability of the Micro Waqf Bank in implementing Sharia regulations and regulations specific to these institutions. The study uses a qualitative research approach, specifically employing a descriptive analysis method to systematically and objectively describe and analyze the institution. The research findings indicate that the operational practices of the Micro Waqf Bank do not align with its name, as it functions more like a financing cooperative institution. However, from an Islamic Law perspective, the institution complies with Sharia provisions by employing the Qard contract and customer-friendly rules. The research aims to influence the development of improved financial institution regulations and encourages the community to maximize the benefits offered by these institutions for the advancement of the Indonesian economy.

Keywords: Law  of  Financial  Institutions,  Microfinance  Institutions