Risk mitigation of Covid-19 pandemic in baitul maal wat tamwil

Aisyah, Esy Nur, Zuraidah, Zuraidah and Maulayati, Ryan Rahmah (2021) Risk mitigation of Covid-19 pandemic in baitul maal wat tamwil. Presented at International Conference on Engineering, Technology and Social Science (ICONETOS 2020), 31 Oct 2020, UIN Maulana Malik Ibrahim Malang.

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Abstract

Maintaining Baitul Maal Wat Tamwil (BMT) sustainability as an Islamic microfinance institution is very important because it can reduce poverty and increase economic growth. However, institutions usually face challenges, like the COVID-19 pandemic, which negatively impacts their sustainability. Therefore, the only way to keep such institutions functional and ensure financial progress is by practising risk management. Qualitative studies performed to analyze the lenitive effects of the risk management practices undertaken by BMT Maslahah Pasuruan and East Java due to the COVID-19 pandemic. Data collection conducted using interview techniques, documentation, and FDG (Forum Group Discussion). The results show that BMT has taken preventive steps in managing the risk. They optimized their marketing funding strategies to balance their outflows and members and cut down their cost, therefore overcoming financing inflow. Placement and distribution carried out selectively, using the suitable method and reserve losses on default debtors to avoid serious risks.

Item Type:	Conference (Paper)
Keywords:	baitul maal wat tamwil; Covid-19 pandemic; Islamic microfinance institution; risk management
Subjects:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150201 Finance
Divisions:	Faculty of Economics > Department of Islamic Banking
Depositing User:	Esy Nur Aisyah
Date Deposited:	28 Apr 2021 10:53

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