The Role of Micro Waqf Bank in Women’s Micro-Business Empowerment through Islamic Social Finance: Mixed-Method Evidence from Mawaridussalam Indonesia

This study examined the role of the Micro Waqf Bank in empowering women micro-entrepreneurs. This research used a mixed-method with an explanatory design. Quantitatively, this study examines the effect of the joint responsibility system, financing, and mentoring on the growth of the micro-enterprise...

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Bibliographic Details
Published in:Economies 2022-07, Vol.10 (7), p.157
Main Authors: Soemitra, Andri, Kusmilawaty, Rahma, Tri Inda Fadhila
Format: Article
Language:English
Subjects:
COVID-19
Decision making
Empowerment
Entrepreneurial finance
Entrepreneurs
Equality
Financial institutions
Financial literacy
financing
Gender equity
Islam
Islamic financing
Islamic social finance
joint responsibility
Low income groups
mentoring
micro waqf bank
Microfinance
Mixed methods research
Rural areas
Small business
women empowerment
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Summary:This study examined the role of the Micro Waqf Bank in empowering women micro-entrepreneurs. This research used a mixed-method with an explanatory design. Quantitatively, this study examines the effect of the joint responsibility system, financing, and mentoring on the growth of the micro-enterprises business. The sample used was 200 women micro-entrepreneurs using a purposive sampling technique. Quantitative data analysis was performed using the Structural Equation Model based on Partial Least Squares (SEM PLS) technique. This research qualitatively analyzes how the Micro Waqf Bank has carried out its role in empowering women, including dealing with crises due to the COVID-19 pandemic. Thematic analysis was used as the qualitative data analysis technique. Informants in this study amounted to 6 informants from MWB Mawaridussalam consisting of Management, Mentors, and female micro-enterprises. The research results quantitatively indicate that there is a positive and significant impact on the joint responsibility system, financing, and mentoring on the development of micro-enterprise members. Mentoring is the most significant variable that impacts the growth of a micro-enterprise business. Qualitatively, the research results show the role of the Micro Waqf Bank in the economic empowerment of women micro-business entrepreneurs by specifically recommending reinforcement of the mentoring function.
ISSN:2227-7099
2227-7099
DOI:10.3390/economies10070157