Raditya Sukmana, Dr., SE., M.A. (2018) Islamic Microfinance and Sukuk: A Propose Regulatory Framework for Liquidity Issue in Indonesia. In: Regulation & Supervision of Islamic Microfinance. IIUM Press, Malaysia, pp. 283-303. ISBN 978-967-418-397-4

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Abstract

Islamic microfmance has been put in a greater attention by many. It is continuously discussed by academicians, researcher as well as polic makers. Moreover, the university students particularly in Indonesia ha also study this sector as part of their courses. Conferences and seminar on this issue have also extensively been done. It discusses the pas and current performances, and its future development. Identifying the problems and proposing solution are also part of the discussion (Ban Indonesia 2009, 2010, Hamada 2010). Among the reasons of why this sector has gained momentum is because, during the financial crisis, such as subprime mortgage in 2008 Islamic microfinance still perform well despite many big companies, particularly currency exposed companies, are suffering. It was not affected by the international financial turbulence as the operation of this sector such as acquiring raw material, manufacturing process an marketing the product etc are done domestically and it is not exposed t the external factors. In short, Islamic microfinance as well as conventional microfinance act as a buffer in the crisis.

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