Analysis of Customer's Religiosity, Product Knowledge, and Their Intention to Use Micro Financing Program (MFP) Based on Mudharabah Scheme

Brayan Bumi Banyumas Joint Village-Owned Enterprise (BUMDESMA) has been running a conventional financial business through lending to its customers. However, BUMDESMA also has the opportunity to market Islamic finance-based products, namely profit sharing with a mudharabah contract through the micro financing program (MFP). This research aims to measure and explore the religiosity of BUMDESMA customers as potential partners and their understanding of MFP based on mudharabah scheme to see their intention to use it. In this qualitative research, data were collected by interviewing 103 SME business owners in Banyumas as BUMDESMA’s prospective customers. The results showed that in terms of religiosity, people understand that in any business they should not commit deceptive actions, obey what has been agreed in the contract, and pay off debts even by selling other assets owned. It means that they have basic religiosity in this matter. Likewise, in terms of understanding MFP, the potential partners know that in a profit-sharing-based product with a mudharabah contract, their position is as a business actor who acts as a fund manager who must manage funds and run the business well, to generate profits. They are interested in becoming customers when the MFP is launched. The research implies that it becomes a reference for BUMDESMA which will offer MFP products, there are already potential partners who have good religiosity, understand the product, and are interested in becoming partners or customers. Keywords: village-owned enterprise, micro financing program (MFP), customer’s religiosity, product knowledge, interest

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Publication Details

Journal
KnE Social Sciences
Published
2024-08-29
DOI
https://doi.org/10.18502/kss.v9i25.16968
Primary Topic
Islamic Finance and Banking Studies
Type
article
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article

Analysis of Customer's Religiosity, Product Knowledge, and Their Intention to Use Micro Financing Program (MFP) Based on Mudharabah Scheme

Bambang Waluyo, Sylvia Rozza, Abdillah Abdillah, Fadya Dwie Oktavia et al.
KnE Social Sciences
Islamic Finance and Banking Studies
article

Analysis of Customer's Religiosity, Product Knowledge, and Their Intention to Use Micro Financing Program (MFP) Based on Mudharabah Scheme

Bambang Waluyo, Sylvia Rozza, Abdillah Abdillah, Fadya Dwie Oktavia, Amanda Dwi Novita
article en

Abstract

Brayan Bumi Banyumas Joint Village-Owned Enterprise (BUMDESMA) has been running a conventional financial business through lending to its customers. However, BUMDESMA also has the opportunity to market Islamic finance-based products, namely profit sharing with a mudharabah contract through the micro financing program (MFP). This research aims to measure and explore the religiosity of BUMDESMA customers as potential partners and their understanding of MFP based on mudharabah scheme to see their intention to use it. In this qualitative research, data were collected by interviewing 103 SME business owners in Banyumas as BUMDESMA’s prospective customers. The results showed that in terms of religiosity, people understand that in any business they should not commit deceptive actions, obey what has been agreed in the contract, and pay off debts even by selling other assets owned. It means that they have basic religiosity in this matter. Likewise, in terms of understanding MFP, the potential partners know that in a profit-sharing-based product with a mudharabah contract, their position is as a business actor who acts as a fund manager who must manage funds and run the business well, to generate profits. They are interested in becoming customers when the MFP is launched. The research implies that it becomes a reference for BUMDESMA which will offer MFP products, there are already potential partners who have good religiosity, understand the product, and are interested in becoming partners or customers. Keywords: village-owned enterprise, micro financing program (MFP), customer’s religiosity, product knowledge, interest

KnE Social Sciences
Jakarta State Polytechnic (ID)
Partnerships for the goals
Openalex Percentile: Top 77%
Islamic Finance and Banking Studies
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Analysis of Customer's Religiosity, Product Knowledge, and Their Intention to Use Micro Financing Program (MFP) Based on Mudharabah Scheme — Bambang Waluyo, Sylvia Rozza, et al. · KnE Social Sciences (2024) | TGRS Research Map | TGRS