UNAIR NEWS – Head of UNAIR SDGs Center Bayu Arie Fianto became a guest speaker at the 3rd Annual International Conference on Islamic Economics and Business. The event was held by the Faculty of Economics and Islamic Business of IAIN Salatiga, Central Java, on Tuesday, June 21, 2022, at Laras Asri Resort and Spa. The Annual International Conference on Islamic Economics and Business in 2022 explores the theme of Circular Economy: Accelerating Business Recovery from an Islamic Economic Perspective.
Bayu presented the material on The Role of Islamic Microfinance for Accelerating Business Recovery in the Post-Pandemic Era which summarized as follows:
- 1. Overview of Microfinance
Microfinance is the provision of small loans to underserved entrepreneurs. Microfinance provides financial access to underprivileged individuals who have difficulty gaining access to formal financial institutions. (Banerjee et al. 2015; Fianto et al. 2018).
- 2. Islamic Microfinance (IMF)
Have characteristics: Sharia Compliance, Reducing poverty, Flexibility, Empowering Women, Supporting and promoting SDGs.
- 3. IMF: Business Recovery
Improving low-income communities and small business welfare, providing financial and social support, providing education and health services, and advancing community welfare through the Baitul Maal (Islamic social fund management).
- 4. IMF: Sustainability
Islamic sustainability principle: Wasatiyyah (moderation) as a life guide; Mizan (balance) as everything has been created in balance; Khalifa (stewardship) to set the goal and responsibility in establishing an equitable socio-economic order; I’mar al-Ard (build the earth) or Umran (building human civilization) the general welfare for present and future generations, Avoid israf (excessive spending) and al-tabdzir (wasteful spending).
- Bonus: Case study of microfinance partners with startups
Micra Indonesia: Digital MFI
- Digital education.
- Support SDGs goals.
Amazing Wakaf Indonesia: Social Finance
- Productive waqf.
- Education and training.
- Health services.
NB AICIEB is an annual conference held by the Faculty of Economics and Islamic Business (FEBI) of IAIN Salatiga. This is the third year of the Annual International Conference on Islamic Economics and Business (AICIEB), after the second meeting in 2021.
Author: Bakti Hasanudin
