The monetary crisis in the late 1990s that hit Indonesia is believed by many parties is a logical consequence of the release of the monetary sector linkages with the real sector . Banking ( conventional ) monetary sectors as economic actors who make money as a commodity has grown so rapidly while the real sector always lagged behind because it takes time to process inputs into outputs . As a result , the conventional banking experience non - performing loans are very high and the negative spread . Meanwhile toughness Bank Shariah does not break the bonds of the monetary sector with the real sector because it is not based on usury is proof of the above reasons .
Birth of Law No.10 of 1998 on the amendment of Law 7 of 1992 on banking has given an excellent opportunity for the growth of shariah banks in Indonesia . The growth of banking in tune with the growing awareness of the Muslims to liberate themselves from the increasing proliferation of usury impact on the monetary sector at lower levels . This is evident in the development of Islamic rural banks and Baitul Maal wa Tamwil ( BMT ) up in the villages . The rapid developments in micro- finance institutions such as BMT showed that the existence of financial institutions is urgently needed by society .
decision of the finance minister of the republic of Indonesia No. 40 / kmk.06/2003 about the funding of micro and small business loans finance minister of the republic of Indonesia Chapter I Article 1, paragraph 4 , which reads : " Managing Financial Institutions , hereinafter referred to CGC , is a Commercial Bank , Rural Bank / Sharia Rural Banks , Mortgage Brokers , Credit Unions / Savings and Loans - Cooperative Unit , Baitul Maal wa Tamwil ( BMT ) , and lending institutions are given the status as the Rural Bank , as referred to in Article 58 of Law No. 7 of 1992 concerning Banking as amended by Act No. 10 of 1998 . "
The development of Baitul Maal wa tamwil in Indoneia quite encouraging when viewed in terms of quantity . Information last mentioned has stood as many as 3037 BMT in Indonesia , with total assets of Rp . 300 billion and non-government funds worth Rp . 264 billion . And we are optimistic that number will continue to grow , given the magnitude of the BMT opportunity to work on real sector in Indonesia .
The number of microfinance institutions ( MFIs ) is currently thought to amount to no less than 9000 MFIs reach . The number of BMT in Indonesia is estimated sebayak 3,307 units with assets of about U.S. $ 1 , 5 trillion . That is , nearly half of the national MFI is BMT . Individually, BMT is very varied . Not a bit of BMT which manages assets of over USD 10 M to the number of customers in over 3,000 of thousands of people , though too many BMT whose assets are less than Rp 50 million and its customers less than 500 people .
Baitul Maal wa tamwil still have a great opportunity in the financial industry . Recent data according to the Management Board of Statistics ( BPS ) said that there are 39,121,350 small businesses , medium 55 437 entrepreneurs and SMEs 39,176,787 , and 40,137,773 small businesses . And of course the needs of small business units and development funding from financial institutions .
BMT euphoria proliferation must be addressed wisely . On the one hand , this development is an exciting , but on the other hand financial accountability BMTs are questionable . If the Bank's financial reporting Shariah and Shariah relative BPR can be accounted for should be based on the provisions of Financial Accounting Standards ( SFAS ) and the Indonesian Shariah Banking Accounting Guidelines ( PAPSI ) and are closely monitored by the Bank of Indonesia, but not so with BMT , although almost the same type of activities .
Furthermore , BMT known as Islamic microfinance institutions closest to the little people . It is not excessive considering the BMT operational reach of small businesses that can not be reached by other financial institutions such as Islamic banks or SRB . Judging from these factors , the authors are optimistic that the future of BMT is still needed for the empowerment of the country's economy .
BMT is seen in its development so far has not been fully able to address real economic problems that exist among the public . Many of the constraints faced by them still lack BMT paradigm thinking and public response to the Islamic system . BMT still have performance limitations in reaching out to customers of small and micro entrepreneurs . While most complaints filed by the respondents is the maximum loan ceiling is still small loans disbursed sera smaller than proposed . Another complaint is the ratio of profit sharing or mark up . Ratio for the results or a mark-up that must be submitted to BMT are too large can be even greater than the loan installments and interest to the bank . The complaint indicates that at least an understanding of the partners sharing system is not the same as understanding BMT .
Although the concept of BMT , an institution beneficial to the community . However, in applications in the field often times we look BMTs coming out of the path of sharia , they are generally more inclined towards Baitul tamwil which has its orientation towards profit oriented in the direction of the Baitul Maal having orientation in social and non-profit purposes . Seeing this trend needs to be intensive supervision in the image of BMT pengeolaannya not be so bad .
When we analysis from the perspective of the quality of the still much to be improved in the body BMT . Funding is lacking in terms of both quantity and time , bad credit , low quality of human resources to manage it , the product is only borrowed the term sharia , are some examples of these deficiencies during BMT . As a result , there are still many people who are dealing with loan sharks in the area although there have been BMT , small businesses , micro , and medium enterprises (SMEs ) are still difficulties in funding , and public response to the presence of BMT is still far from the expected .
BMT coaching is not done by the Bank , and therefore outside the provisions of SFAS and PAPSI , in addition to being perceived as a form of cooperatives . However , BMT is the " stepchild " of the Cooperative Department received less attention , especially from the aspect of accountability . The amount of ' ghirah ' and public funds in BMT will culminate disappointment when accountability BMTs are neglected .
Baitul Maal wa tamwil need to formulate a strategic management in order to reduce the deficiencies proficiency level . In this case we do not mean to say that BMT has not implemented a strategic management , because certainly BMT as an organization has to do it though still informal , so the impact may be less significant . With strategic management , BMT will try to analyze internal factors and external to the organization , which is intended to identify strengths ( strength) and weakness ( weakness) and compared to internal opportunities (opportunity ) and threats ( threath ) externally , so that BMT can create and choose what strategies are viable for use .
The basic thing that must be resolved is the BMT strategy in relation to human capital . The problem of human resources is a crucial issue in the operation of the organization , because most bankruptcies are caused by low quality organization with managers. Speaking of human resource management in BMT then can not be separated from the quality of skills and spiritual qualities . Quality refers to the behavior of the professional skills of BMT managers in achieving organizational goals effectively and efficiently . In relation to the proficiency level BMT programs need to do to improve the professionalism of the management through leadership training , workshops , coaching or managerial . While the spiritual quality refers to the implementation of Islamic values in each activity manager BMT . In this case the role of the clergy ' very important to score a reliable cadres to manage BMT .
In relation to the personnel at the top levels of management is important to note . This is due to the influence of the leader that impact the performance of other officials . According to Robbins ( 2003:62 ) , in an organizational environment that demands change , the type of transformational leaders are more efficient . He also explained that transformational leaders are leaders who give consideration and intellectual stimulation in - individualkan , and who has charisma . Leaders will be able to increase the expectations of the results board to prioritize the interests of the BMT team / orgamisasi than kepentngan individual without reducing the performance of the individual . With charisma possessed the leaders will be able to direct the board to behave according to the vision and mission of BMT in daily operations .
Furthermore , we need a strategy of innovation in relation to the products of the organization. This is due to innovation plays an important role in maintaining the survival of BMT in the financial institutions industry . BMT can use the strategy of market penetration ( market penetration ) where BMT seeking a greater market share for the products / services that have been generated through marketing activities aggressively . Furthermore, BMT can use market development ( market development) where BMT introduce products / services that already exist to a new geographical area . The strategy of product development ( product development ) can also be implemented through increased sales by improving the products / services that already exist or develop new products . BMT also can use diversification strategy konsentiris ( concentric diversification ) where the addition of new product / service is still something to do with the main products / services BMT . In the end with the powerful innovation that BMT will be able to make a differentiation with other microfinance institutions so that their existence is maintained.
But to note is that in product innovation , BMT should not violate the rules of sharia . Required cooperation with the Sharia Supervisory Board or the National Islamic Council so that the product really suit Islamic rules . So that the level of public confidence in the BMT could increase and there will be no BMT only opinion that piggyback term sharia without knowing its essence .
One of the pillars for the development of BMT is a strong capital . Going forward , BMT should build strong links with stakeholders . The strategy used for example by becoming part of the Islamic Bank Linkage program - SRB - BMT . Where BMT as an extension of the Islamic banking businesses that channel funds to small , micro and medium enterprises (SMEs ), which is difficult to reach by Islamic banks . With Linkage program , then BMT could increase the availability of funds .