HASIL PENELITIAN

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AN ANALYSIS OF ISLAMIC MICROFINANCE INSTITUION
(IMFS) IN INDONESIA REGULATION AND SUPERVISION
PERSPECTIVE
Dr Yulizar D. Sanrego, M.Ec Team Institute
for Research Community Enpowerment
(LPPM) www.tazkia.ac.id
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PRESENTATION AGENDA

1. Overview Bank Non-Bank Institution
2. Research Objective
3. Research Methodology
4. Problem Decomposition /Model Construction
5. Finding Discussion
6. Recommendation

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SHARIA BANKING MICRO COVERAGE
VS
BANK
MFI/IMFI
Uncompleted Prerequisite
The Most Regulated Institution
DIVERGENCE
(Purwandono, 2011 modified)
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THE COVERAGE OF SHARIA FINANCIAL INDUSTRY
Act No. 17 - 2012
1. Islamic Capital Market 2. Sharia
Insurance 3. Sharia Multifinace 4. Sharia
Pawnshop. 5. Islamic Microfinance
Act No. 1 - 2013
Sovereign Sukuk Negara Tax
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RESEARCH OBJECTIVES
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RESEARCH METHODOLOGY

• This research is using Analytic Network Process
  (ANP).
• ANP is a new qualitative method approach, which
  is non-parametric and non-Bayesian, to a
  decision-making process that provides a general
  framework in treating decisions without making
  assumptions about the independence of the
  elements at a higher level than the elements on
  the lower level and on the independence of the
  elements in a level.

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Priority Scale and Rater Agreement

• Priority Scale (PS)
• PS is a scale that shows how important an issue
  compared to other issues. The higher the priority
  number, the higher important problem needs to be
  solved.
• Rater Agreement (RA)
• RA is the level of agreement value among
  respondents in assessing the problem.

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RESEARCH PHASE
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Decomposition Problem Figure
PROBLEM
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PRACTITIONERS OPINION
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IMFS Development Policy (Practitioners)

• Bantuanop Operational Assistance Operational
  support that alignments of government through
  government programs that are allocated for
  development IMFS.
• Rpenunjang Supporting Regulation Supporting
  regulation is a regulation relating to the
  establishment and regulation of supporting
  institutions that are needed to help IMFS to be
  more established, effective efficient in their
  activities.
• Rpersaingan Regulation of Competition
  Restriction It is legislation governing
  competition between IMFS with other financial
  institutions, especially commercial banks and
  other large financial institutions.
• Standarop Operational Standard It is a wide
  range of technical and operational standards that
  are being made to maintain service quality of
  IMFS.

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Regulation of Competition Restriction
(Practitioners)

• Omset Customers Restriction means that there
  should be clear limits on competition among
  financial institutions regulated through the
  turnover of customers who obtain financing from
  Financial Institutions.
• Plafon Ceiling Financing It means there should
  be clear limits on competition among financial
  institutions regulated through the amount of
  ceiling financing provided by Financial
  Institutions to customers.
• S-coverage It is the extent of coverage and the
  number of financial services institutions.

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Supporting Regulation (Practitioners)

• Kesehatan IMFS Healthy That is the agency
  that independently and continuously assess the
  health of IMFS.
• Pkredit Credit Guarantee Institution Namely
  the existence of institutions that guarantee
  loans granted by IMFS to customers.
• Psimpanan Deposit Guarantee Institution namely
  the existence of deposit insurance agency that
  guarantees deposits of IMFS customers.

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Operational Standard (Practitioners)

• Standarapmr Financing Analysis Standard Risk
  Manajement required by IMFS because of the
  general analysis of financing and risk management
  among a IMFS with other IMFS are still different
  some are already have the standards and some are
  not.
• Standarks Sharia Compliance Standard which is
  a standard that can measure and evaluate sharia
  compliance of IMFS in its operations.
• Standarppn Customer Companion and Capacity
  Building Standard Mentoring and coaching
  customers is one of the hallmarks of IMFS. The
  existence of mentoring and coaching clients
  become more strategic value. However, there is no
  standard mentoring and coaching for the clients
  among IMFS.

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Operasional Assistance (Practitioners)

• IT IT Development Assistance The use of IT in
  the majority of IMFS still limited. This leads to
  cost and inefficient management both in terms of
  time, effort and cost.
• Permodalan Financial Assistance In this case
  IMFS not have a lender of last resort like
  banking industry.
• Sdm Management Capacity Building HR
  Development HR of LKMS require multi skills, in
  addition to skills in terms of collecting and
  distributing funds. Sharia knowledge and skills
  on coaching clients is also required. If all are
  covered by IMFS, it will be very expensive. For
  IMFS which do not have sufficient funds,
  automatically it will employ HR with modest
  quality.

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The Solution of IMFS Development (Practitioners)

• Pembentukanrp The establishment of Supporting
  Regulation
• Pembentukanrpp The establishment of Regulation
  of Competition Restriction inter financial
  institutions.
• Pembentukanso The establishment of Operasional
  standard.
• Pembentukanbo The establishment of Operational
  Assistance.

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ACADEMICIANS OPINION
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IMFS Development Policy (Academicians)

• Bantuanop Operational Assistance Operational
  support that alignments of government through
  government programs that are allocated for
  development IMFS.
• Rpenunjang Supporting Regulations Supporting
  regulation is a regulation relating to the
  establishment and regulation of supporting
  institutions that are needed to help IMFS more
  established in their activities. .
• Rpersaingan Regulation of Competition
  Restriction It is legislation governing
  competition between IMFS with other financial
  institutions, especially commercial banks and
  other large financial institutions.
• Standarop Operational Standard It is a wide
  range of technical and operational standards are
  being made to maintain the quality of service of
  IMFS.

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Regulation of Competition Restriction
(Practitioners)

• Omset Customers Turn-over means that there
  should be clear limits on competition among
  financial institutions regulated through the
  turnover of customers who obtain financing from
  Financial Institutions.
• Plafon Ceiling Financing It means there should
  be clear limits on competition among financial
  institutions regulated through the amount of
  ceiling financing provided by Financial
  Institutions to customers.
• S-coverage It is the extent of coverage and the
  number of financial services institutions.

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Supporting Regulation (Academicians)

• Kesehatan IMFS Healthy That is the agency
  that independently and continuously assess the
  health of IMFS.
• Pkredit Credit Guarantee Institution Namely
  the existence of institutions that guarantee
  loans granted by IMFS to customers.
• Psimpanan Deposit Guarantee Institution namely
  the existence of deposit insurance agency that
  guarantees deposits of IMFS customers.

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Operational Standard (Academicians)

• Standarapmr Financing Analysis Standard Risk
  Manajement required by IMFS because of the
  general analysis of financing and risk management
  among a IMFS with other IMFS are still different
  some are already have the standards and some are
  not.
• Standarks Sharia Compliance Standard which is
  a standard that can measure and evaluate sharia
  compliance of IMFS in its operations.
• Standarppn Customer Companion and Capacity
  Building Standard Mentoring and coaching
  customers is one of the hallmarks of IMFS. The
  existence of mentoring and coaching clients
  become more strategic value. However, there is no
  standard mentoring and coaching for the clients
  among IMFS.

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Operational Assistance (Academicians)

• IT Bantuan Pengembangan IT Penggunaan IT pada
  mayoritas LKMS masih terbatas. Hal ini
  menyebabkan biaya dan pengelolaan yang tidak
  efisien baik dari segi waktu, tenaga dan biaya.
• Permodalan Bantuan Permodalan Dalam hal ini
  LKMS tidak memiliki lender of the last resort
  layaknya perbankan umum.
• Sdm Pembinaan Managerial dan Pengembangan SdM
  SdM dari LKMS memerlukan multi skill, selain
  skill dalam hal menghimpun dan menyalurkan dana,
  skill tentang pengetahuan syariah dan pmbinaan
  nasabah juga diperlukan. Jika semua itu
  dibebankan pada LKMS maka akan memakan biaya yang
  tidak sedikit, sedangkan bagi LKMS yang tidak
  mempunyai cukup dana maka akan mempekerjakan SdM
  dengan kualitas sekedarnya.

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The Solution of IMFS Development(Academicians)

• Pembentukanrp The establishment of Supporting
  Regulation
• Pembentukanrpp The establishment of Regulation
  of Competition Restriction inter financial
  institutions.
• Pembentukanso The establishment of Operasional
  standard.
• Pembentukanbo The establishment of Operational
  Assistance.

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Priority Values Rater Agreement Analysis
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Priority Rater Agreement Value Analysis (IMFS
Development Policy Problem)
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Supporting Institution Regulation (Rater
Agreement)
ITEMS PRACTITIONERS PRACTITIONERS ACADEMICIANS ACADEMICIANS TOTAL TOTAL
ITEMS AV R AV R AV R
ASPECT
Health Assessor 0,39 1 0,5 1 0,45 1
Credit Guarantee 0,29 3 0,23 3 0,26 3
Deposit Guarantee 0,32 2 0,27 2 0,29 2

Rater agreement 0,25 0,31 0,12
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Regulation of Competition Restriction (Rater
Agreement)
ITEMS PRACTITIONERS PRACTITIONERS ACADEMICIANS ACADEMICIANS TOTAL TOTAL
ITEMS AV R AV R AV R
ASPECT
Customers Turn-over 0,28 3 0,47 1 0,37 2
Financing Ceiling 0,38 1 0,39 2 0,39 1
Service-coverage 0,34 2 0,14 3 0,24 3

Rater agreement 0,03 0,73 0,053
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Operational Standard (Rater Agreement)
ITEMS PRACTITIONERS PRACTITIONERS ACADEMICIANS ACADEMICIANS TOTAL TOTAL
ITEMS AV R AV R AV R
ASPECT
Financing Analysis Risk Management Standard 0,33 2 0,36 2 0,35 2
Sharia Compliance Standard 0,41 1 0,37 1 0,39 1
Mentoring Coaching Standard 0,26 3 0,27 3 0,26 3

Rater agreement 0,09 0,60 0,063
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Operational Assistance (RA)
ITEMS PRACTITIONERS PRACTITIONERS ACADEMICIANS ACADEMICIANS TOTAL TOTAL
ITEMS AV R AV R AV R
ASPECT
Management Capacity Building HR Development 0,46 1 0,46 1 0,46 1
IT Development Assistance 0,32 2 0,22 3 0,27 2
Financial Assistance 0,22 3 0,32 2 0,27 3

Rater agreement 0,25 0,60 0,043
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Problem Solutions Analysis.
ITEMS PRACTITIONERS PRACTITIONERS ACADEMICIANS ACADEMICIANS TOTAL TOTAL
ITEMS AV R AV R AV R
ASPECT
Operational Assistance 0,23 3 0,21 3 0,22 4
Establishment of Supporting Regulation 0,22 4 0,24 2 0,23 3
Establishment of Competition Restriction Regulation 0,27 2 0,20 4 0,24 2
Establishment of Operational Standard 0,28 1 0,35 1 0,31 1

Rater agreement 0,14 0,33 0,09
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CONCLUDING REMARKS

• Problem decomposition shows that the problem of
  IMFS Development from regulation and institution
  perspective are consist of four main clusters No
  Regulation of Competition Restriction among
  financial institutions, No Regulation on
  Supporting Institution, No Operational standard
  lack Operasional Assistance.
• The PROBLEM of No Regulation on Supporting
  Institution becomes the main problem with its
  priority value 0,31, followed by No Operational
  standard (0,28), No Regulation of Competition
  Restriction among financial institutions (0,27)
  and last but not least lack Operasional
  Assistance(0,14)
• In the cluster of No Regulation of Competition
  Restriction among financial institutions,
  competition restriction through financing ceiling
  is the main priority with its priority value
  0,39, followed by the restriction through the
  turn-over with 0,37 and finally service coverage
  with 0,24.

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Continue..

• In the cluster whereby supporting regulation is
  absence, Supporting regulation in the form of
  health assessments become the top priority with
  its priority value 0.45. The second one in this
  cluster with considerable difference is deposit
  guarantee regulations with 0.29 and finally is
  credit guarantee regulation with its priority
  value 0.26.
• In the cluster whereby operation standard is
  absence, the absence of sharia compliance
  standard issue is at the top priority with its
  priority value of 0.39. The second priority with
  slightly difference is the absence of financial
  analysis and risk management with 0.35 and
  finally is credit guarantee regulation with 0.26.
  
• In the cluster whereby operation assistance is
  minimum, minimum assistance for human resources
  empowerment is at the top priority with its
  priority value 0.39. In the second and third
  priority level with a slightly different, that is
  sequence minimum assistance of IT with its
  priority value 0.27 and limited funding
  assistance with 0.27.

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THE SOLUTION.

• The research results in the solution cluster
  suggests that the formation of operational
  standards become the first priority with its
  priority value 0.31, followed by the
  establishment of competition regulation with
  0.24, supporting regulation with 0.23 and finally
  providing operational assistance. In general, it
  can be seen that the average priority values are
  slightly different which indicates that the all
  mentioned solutions have relatively the similar
  priority value to be further executed.

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RECOMMENDATION.

• The government should immediately establish
  operational standards (particularly sharia
  compliance issue) since it is urgent to be
  implemented as a reference for IMFS. Both
  respondent practitioners and academicians are
  agreed upon that the establishment of operational
  standards is the first priority followed by other
  solutions that have been mentioned above.

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