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STUDI KOMPARATIF PENGAWASAN OLEH OTORITAS JASA KEUANGAN DAN DINAS KOPERASI TERHADAP LEMBAGA KEUANGAN MIKRO SYARIAH DI D.I YOGYAKARTA
In recent years, the growth of Islamic financial institutions—particularly on a micro scale such as Baitul Maal wat Tamwil (BMT)—has significantly increased and expanded into remote rural areas. BMT functions as a sharia-based microfinance institution that integrates both social (maal) and commercial (tamwil) roles to empower the economy of lower-income communities. However, this rapid development has not been matched by adequate regulation and supervision. The dual oversight between the Financial Services Authority (OJK) and the Cooperative Office (DINKOP), coupled with the suboptimal implementation of Law Number 1 of 2013 concerning Microfinance Institutions, has led to legal ambiguity, weak supervision, and non-compliance by BMTs with formal legal requirements. Based on these issues, this study formulates three main research questions: (1) How is the supervisory practice carried out by OJK and DINKOP on Sharia Microfinance Institutions (LKMS) with cooperative legal status in the Special Region of Yogyakarta? (2) How does the effectiveness of supervision compare between the two institutions? (3) What is the appropriate supervisory model in accordance with existing laws and regulations for LKMS in Indonesia? This research is a field study using an empirical juridical approach. Data were obtained through direct observation, interviews with relevant stakeholders, and documentation of regulations and policies governing sharia microfinance institutions, particularly those with cooperative legal status. The study focuses on the Special Region of Yogyakarta, one of the regions with a significant number of KJKS BMTs, where OJK’s supervisory role remains very limited. The findings reveal that supervision by OJK, as regulated under Law Number 1 of 2013 on Microfinance Institutions, has not been optimally implemented, as only a small portion of LKMS are officially registered and supervised. Meanwhile, DINKOP's oversight is more developmental and lacks strict sanctions, making it less effective in addressing legal violations. The low level of legal awareness among KJKS BMT managers is one of the key factors contributing to weak regulatory compliance. As a solution, the government has enacted Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector. This study recommends an integrated supervisory model that emphasizes collaboration between OJK and DINKOP, with a focus on strengthening regulations and enhancing legal literacy among KJKS BMT managers to create a more effective and equitable oversight system.
FAKULTAS SYARI’AH DAN HUKUM, UIN SUNAN KALIJAGA YOGYAKARTA
STUDI KOMPARATIF PENGAWASAN OLEH OTORITAS JASA KEUANGAN DAN DINAS KOPERASI TERHADAP LEMBAGA KEUANGAN MIKRO SYARIAH DI D.I YOGYAKARTA (Text)
STUDI KOMPARATIF PENGAWASAN OLEH OTORITAS JASA KEUANGAN DAN DINAS KOPERASI TERHADAP LEMBAGA KEUANGAN MIKRO SYARIAH DI D.I YOGYAKARTA (Other)
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332 Ekonomi Keuangan dan Finansial, Ekonomi Biaya dan Pembiayaan