JAKARTA, March 18, 2023 - Islamic financing institutions have a big role in helping Micro, Small and Medium Enterprises (MSMEs) with halal products to upgrade. With sharia financing, MSME players in halal products can get capital facilities to develop their businesses.
Throughout 2022, the trend of sharia financing in Indonesia will continue to increase. According to data from the Financial Services Authority (OJK), the total value of sharia financing for all types of contracts in Indonesia reached IDR 470 trillion in August 2022, or grew 18.51 percent in a year (year-on-year/yoy).
The development of MSMEs for halal products itself continues to be carried out to realize Indonesia's mission as a center for halal producers in the world (Indonesian Global Halal Hub 2024). A number of efforts have been made, including by making a free halal certification policy, building a halal industrial area (KIH), and increasing access to sharia financing for MSMEs.
One sharia financing institution that is ready to support MSME development is Urun-RI from PT Urun Bangun Negeri. Urun-RI is an information technology-based sharia securities crowdfunding service provider company.
Urun-RI has obtained a recommendation from the DSN-MUI Sharia Supervisory Board No. U-0399/DSN-MUI/V/2022 and OJK Operational License No. KEP-07/D.04/2023. Urun-RI has held a Soft Launching at the Muslim Life Fair JIExpo Kemayoran, Jakarta on Friday, (17/3/2023).
As a sharia investment platform, Urun-RI brings together users, namely issuers (MSMEs/business people) and investors or financiers who are supported by an integrated digital ecosystem.
CEO of Urun-RI Budiman Indrajaya, there are two types of securities offered in crowdfunding services, namely sharia stocks and sukuk. Through Urun-RI, business people can issue new shares to be sold to investors or investors. Later, investors are entitled to dividends from the issuing company according to the portion of shares owned, the amount of which is distributed based on the agreement at the General Meeting of Shareholders (GMS).
Business actors/MSMEs can also issue sukuk on the assets on which they are issued. Furthermore, through Urun-RI, investors buy sukuk in the form of units with values according to their preferences. Later investors are entitled to profit sharing/fees and investment capital at maturity according to the contract scheme.
"With a minimum investment capital of IDR 500,000, investors can buy shares or sukuk from issuing companies that have been registered with Urun-RI," he said.
He hopes that the presence of Urun-RI will provide an alternative to sharia investment that is safe and innovative, as well as helping MSMEs/business players to obtain funding sources that are easier and in accordance with sharia principles which will have an impact on increasing the quality and quantity of their production.
Thus Urun-RI will contribute to building Indonesia's economic resilience/resilience through the distribution of productive assets so as to create a prosperous society according to sharia.
“Imagine a life in which entrepreneurs and investors unite to create a company that is trustworthy, a company that does not commit fraud when taking measurements, a company that is transparent and professional in serving, a company that cares about the lives of its employees and the surrounding environment as commanded by Allah and exemplified by the Prophet," he said.
During the Muslim Life Fair at JIExpo Kemayoran (17-19 March), Urun-RI held various activities which were attended by MLF visitors for free, such as Financial Health Check Up, Product Photo Training and Financial Planner Miniclass. Apart from that, visitors were also invited to get to know more about Urun-RI both in terms of products and the Urun-RI brand itself.
Deputy Director of Sharia Business Acceleration and Partnerships of the National Committee for Sharia Economics and Finance (KNEKS), Ahmad Iqbal said, businesses or MSMEs of halal products must be assisted in terms of strengthening the quality, quantity and legality of products, including in terms of financing.
When MSMEs with halal products need funding from Islamic financial institutions, they must understand their needs and know which Islamic financing institutions are suitable for them.
“For example, we can see whether MSMEs are legal entities or not. If you are not a legal entity, you don't need to go to a commercial financial institution because you will definitely be rejected. So what has to be done is to look for community-based financial institutions such as BMTs, Micro Waqf Banks, Amil Zakat Institutions, and others.
“You can also look at it from the point of view of the value of the financing. If you only need 100 thousand for financing, then don't go to the bank. But look for Islamic financial institutions that do serve financing with small values (ultramicro). If the amount of financing needed is large, you can go to the bank or come to securities funding such as Urun-RI,"
Iqbal said that currently his party is preparing modules intended to form MSME companions. Where the goal is that these assistants can help business actors to carry out an assessment (assessment) of the condition of MSME actors.
Sunnah.
