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Baitul Maal wa Tamwil

Baitul Maal wa Tamwil. Definition . Stands for: Baitul maal  non profit motive Baitul tamwil  profit motive Islamic financial institution which is formed to play Islamic social roles as well as to seek profit in a way that is inline with the Islamic laws (Soemitro, 2009).

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Baitul Maal wa Tamwil

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  1. Baitul Maal wa Tamwil

  2. Definition • Stands for: • Baitul maal  non profit motive • Baitul tamwil  profit motive • Islamic financial institution which is formed to play Islamic social roles as well as to seek profit in a way that is inline with the Islamic laws (Soemitro, 2009). • Also known as Islamic micro financing practice in Indonesia.

  3. An Alternative Financial Intermediary • Has been becoming an alternative financial services provider since: • BMT is more reachable financial provider especially for the SMEs . • It was evidenced that the existence of BMT in some regions in Indonesia such as Java Island has eradicated the practice of usurer/rentenir. • BMT could survive when the global financial crisis hit the Indonesian economic stability in 2008.

  4. The Importance • Macro Condition • Poverty • Majority of entrepreneurs are micro entrepreneurs. • Government policy to SME’s is low • SME’s is weak in the market competition • Micro Condition • Less skill and management on SME’s • Less funding for SMEs • Unorganized funding in rural

  5. Principles of Operatio • Ta’awun Aqad (Social) • Al Qard • Al Qardhul Hasan • Muawwadhah Aqad (profit oriented) • profit sharing • sale and purchase • Leasing • services

  6. Legality • Supervised by Centre for Small Business Incubation (PINBUK). • Regulated by the Minister of Cooperative, Small and Medium Enterprises. • Legally recognized as Islamic Cooperative.

  7. Activities • Similar to Islamic bank: • Funding • Financing • Fee based service

  8. Funding • First Parties Fund • Second Parties Fund • Third Parties Fund

  9. First Parties Fund • SimPokSus • Simpanan Pokok • Simpanan Wajib • Paid in capital (penyertaan modal) • Donation • Retained Earning

  10. Second Parties Fund • Lending fromBank, BUMN, PNM • Dana Bergulir • Other lendings

  11. Third Parties Fund • Wadiah saving account • Mudharabah saving account • Other saving accounts

  12. Organisation Annual Member Meeting (RAT) Committee Supervisory Director Teller Accountant Marketer Members

  13. Committee and Supervisor • Committee • Chief • Secretary • Treasurer • Supervisor • Management • Shariah (SSB)

  14. Problems • Human Resources • Less skill • No development program • Commitment to shariah sometimes is questionable • Legal • SSB less implemented

  15. Kendala dan Hambatan • Marketing • Less Performance • Less focus • Unstandardized • Capital • CAR is low • Low Fundraising skill • Bad debt • Less stable profitability

  16. Bagan Alir Pendirian BMT Training/magang Initiation Team Fundraising Pendampingan Urus BH Pengurus Sarana Prasarana Siap Operasi

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