Implementation of Sharia Principles in the Financing Strategy of Islamic Bank MSMEs

Key Points

The implementation of sharia principles facilitates MSME growth through ethical financing strategies.
Bank Sumut Syariah focuses on integrity, transparency, and sincerity in providing sharia financing.
Challenges and opportunities for MSMEs are assessed through qualitative case studies and interviews.
Innovative sharia products like murabahah and musyarakah support diverse financing needs of small businesses.

Abstract

This research aims to analyse the application of sharia principles in the MSME financing strategy of Bank Sumut Syariah, Marelan Raya Sub-Branch. This research uses a qualitative approach with a case study method to understand the application of sharia principles in the MSME financing strategy at Bank Sumut Syariah Marelan Raya Sub-Branch. The research location was chosen because this branch has many MSME customers who are relevant to research. Data was collected from primary sources through in-depth interviews with branch leaders. Based on all data collected from interviews with Mr. Rama Indra Jaya, Bank Sumut Syariah Capem Marelan Raya has successfully implemented a marketing strategy focusing on integrity, transparency and sincerity in an Islamic context. They offer various sharia financing products such as murabahah and musyarakah to support the growth of Micro, Small and Medium Enterprises (MSMEs) in their region.

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