ISLAMIC ECONOMIC ANALYSIS OF THE VILLAGE BAZNAS MICROFINANCE (BMD) PROGRAM IN MERANGIN REGENCY IN IMPROVING THE COMMUNITY'S ECONOMY

Abstrak

The BAZNAS Village Microfinance (BMD) program plays a role in providing access to interest-free capital for micro-entrepreneurs. This program uses Sharia contracts, such as Qārdhul Hāsān , which align with Islamic principles of justice. By providing fair and usury-free financial access, Sharia Microfinance helps reduce economic disparities and achieve social justice. The focus of the problem in this research is to what extent the program is in line with Islamic economic principles and how much it contributes to improving the economic conditions of the beneficiary community.
This research uses a qualitative approach with a field study method. Data collection techniques included interviews, observations, surveys, and documentation of managers and beneficiaries. Data analysis was conducted inductively, referring to key concepts in Islamic economics, including distributive justice, empowerment of Mustahik, and Maqasid ās-Syāri'āh as evaluative elements.
The results of this study indicate that the Merangin BAZNAS Village Microfinance (BMD) program has made a real contribution to increasing income, business sustainability, and community economic independence. In general, this program has fulfilled the basic principles of Islamic economics, especially in terms of wealth distribution and value-based economic empowerment. However, indications of practices that contradict Sharia principles were found, namely the addition of payments after the loan agreement ( Qārdh ), such as the requirement to take infak and sadaqah in each installment payment, which has the potential to lead to elements of usury. This indicates the need for a serious evaluation of the financing structure to remain within the corridor of Islamic law, which prohibits all forms of profit-making from loans without a legitimate business transaction basis, but is permitted if it is not required at the beginning of the agreement and is given voluntarily ( tābārru' ), not as an obligation or part of the agreement.
The implications of these findings suggest that strengthening institutional capacity and increasing Islamic economic literacy are important aspects for the program's long-term effectiveness. Therefore, researchers recommend that BAZNAS Microfinance Village (BMD) managers improve the quality of Sharia-based entrepreneurship training , strengthen cross-institutional collaboration systems to create a holistic and sustainable empowerment ecosystem.