VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Micro Waqf Bank facility at Islamic boarding schools can avoid people from loan sharks to get business capital. That was stated by President Joko Widodo when inaugurating Micro Waqf Bank at Kaliwungu Square, Kendal, Central Java on Monday (30/12/2019). President Joko Widodo inaugurared Apik Kaliwungu Micro Waqf Bank and Al Fadllu 2 Islamic Boarding School Micro Waqf Bank. According to the President, there have been 56 micro waqf banks reaching 25 thousands customers of micro small medium enterprises.

Micro Waqf Bank is a non-bank and non-formal financial body in the form of Sharia Micro Financial Body. Micro Waqf Bank is established under the license of Financial Services Authority OJK that provides capital or funding access for underprivileged people who do not have access to formal financial bodies. Meanwhile in the operational, Financial Services Authority cooperates with Alms Agencies, Islamic boarding school, and community figures including in guidance for the customers.

According to President Joko Widodo, fund disbursed by micro waqf bank had been 34 billion rupiahs. President explained, 50 more micro waqf bank units will be opened in 2020 with permit from OJK. President guaranteed, goverment attempts to open many micro waqf banks to open funding access for people and to find capital for micro, small, and medium enterprises.

President also explained, that the customers must calculate their business carefully and do not use fund for purchasing consumptive goods. Therefore, the people will be able to receive benefit and pay the loan well.

In the same opportunity, President Joko Widodo asked the people to use the loan from micro waqf bank carefully. Loan system of micro waqf bank is about mutual trust, the agreement must be made in physical meeting, without any collateral in the loan process, because micro waqf bank aims to support micro small medium enterprises that cannot borrow fund from banks so that there is no disparity.

Meanwhile OJK Board of Commissioner Chairperson Wimboh Santoso asked the micro small medium enterprises players to use the Micro Waqf Bank, because the target is those who are rejected by bank since they do not have collateral besides their business, taxpayer number (NPWP), and business permit. Wimboh affirmed, OJK cooperates with big companies as donor. Facility of Micro Waqf Bank for micro small medium enterprises can help them avoid loan sharks.