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    Don't go to Moneylender! These Three Islamic Financial Instruments Can Be Sources of Credit for the Community


    GARUT REGENCY- The rise of people who are trapped by moneylenders at this time, encourages the government to present the financial services sector that can provide light loans to the public. There are three instruments of sharia financial services that can be utilized by the community for credit, namely Micro Endowment Banks, Personal Loans, and Islamic banks.

    West Java Governor Ridwan Kamil said that there were many ways to get credit without having to ask for loans to moneylenders. However, the current problem, said Emil - Ridwan Kamil's nickname, is that the community is less compact and united in terms of credit, so there are still people who use loan sharks to get loans.

    "Many mothers in Garut are particularly affected by moneylenders. In fact there are many ways (to get credit). Therefore, for five years Muslims in West Java must be compact, only that is the problem, it is not compact," Emil said while attending the socialization. Islamic Financial Literacy held by the Indonesian Financial Services Authority (OJK) at the Great Mosque of Garut, Garut Regency, Saturday (03/23/19).

    "So, stay at the mosque, ask the Micro Waqf Bank, go to Islamic banks. God willing, the advanced economy of the people is also more advanced. Just want anything or not, unite or not, ukhuwah Islamiyah should be strong," he said.

    Furthermore, according to Emil, currently Islamic finance transactions in West Java have only reached around 8%. Even though there should be more than 90% with the number of Muslims in West Java. In addition, the number of mosques in West Java with more than 100,000 mosques and the number of Islamic boarding schools with more than 11 thousand Islamic boarding schools can be a great potential for the utilization of the Islamic financial sector in West Java.

    "Now, there is a Micro-Waqf Bank program, with Rp. 1 million being paid, only Rp. 26 thousand per week, not bothering, or borrowing Rp. 3 million to pay Rp. 70 thousand every week," Emil said.

    "I also have an intimate credit program, later this year we will be taken away. Enough to go to the mosque asking for a letter of recommendation from the Chairperson of the DKM without interest, it can," he explained.

    In line with Emil, Chairman of the OJK Board of Commissioners Wimboh Santoso said that the Micro Waqf Bank could be a solution for people who want to get credit, so there is no need for loan sharks. This credit program can cover 3,000 borrowers on a small loan scale, and there will be coaching for entrepreneur loans.

    "We have a program - (people) don't have to go to moneylenders, our Nikro Waqf Bank can be established in this mosque (Garut Great Mosque). The interest is only three percent a year, without guarantees and various conditions," said Wimboh.

    Meanwhile, Wimboh also explained, that the purpose of this Sharia Financial Literacy socialization was part of OJK's efforts to encourage people to utilize the financial services sector, especially sharia.

    "We are here to give encouragement to all the people (community) to take advantage of the presence of the financial services sector, and so that you can understand the risks and benefits of financial services. Don't let anyone be fooled by fraudulent investments, let alone not hit by moneylenders, "said Wimboh.

    OJK is an institution given the task by the government to improve the welfare of the community through the financial services sector. For this reason, the OJK has a role in regulating the financial services sector, overseeing and protecting the beneficiaries of financial services in Indonesia.

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