THE ROLE OF SHARIA FINANCING IN EMPOWERING MICRO, SMALL AND MEDIUM ENTERPRISES
Keywords:
Sharia Financing, Empowerment, Micro, Small and Medium EnterprisesAbstract
Micro, Small, and Medium Enterprises (MSMEs) play an important role in Indonesia’s economy by creating jobs, increasing income, and reducing poverty. However, many MSME actors still face difficulties in accessing fair financing that complies with sharia principles. This study aims to analyze the role of sharia financing in empowering MSMEs from economic, social, and technological perspectives. This research uses a qualitative method with a library research approach. Data were obtained from relevant journals, books, research reports, and official documents and analyzed descriptively. The results show that sharia financing through mudharabah, musyarakah, and murabahah contracts provides MSMEs with access to capital based on Islamic principles. Islamic financial institutions also support MSMEs through business assistance, financial management training, and human resource development. Furthermore, Islamic fintech accelerates financing services, reaches remote areas, and expands financial inclusion. Nevertheless, its implementation faces challenges, including low Islamic financial literacy, limited product innovation, and inadequate digital infrastructure. Therefore, collaboration among the government, Islamic financial institutions, educational institutions, fintech providers, and MSME communities is necessary to develop an inclusive and sustainable sharia financing ecosystem.
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