THE CONTRIBUTION OF PEGADAIAN ULTRA MICRO FINANCING TO MICRO-ENTERPRISE DEVELOPMENT IN SEDANAU VILLAGE FROM THE PERSPECTIVE OF ISLAMIC ECONOMICS

Muhammad Ali; Nurdian Setiawan; Kartubi

doi:10.36526/sosioedukasi.v15i2.8243

Authors

Muhammad Ali STAI Natuna, Ranai Kota, Kec. Bunguran Tim, Kabupaten Natuna, Kepulauan Riau, Indonesia
Nurdian Setiawan Sekolah Tinggi Agama Islam Natuna
Kartubi Sekolah Tinggi Agama Islam Natuna

DOI:

https://doi.org/10.36526/sosioedukasi.v15i2.8243

Keywords:

Ultra Micro Financing, Micro-Enterprise Development, Islamic Economics

Abstract

This study aims to analyze the contribution of Pegadaian Ultra Micro (UMi) Financing to micro-enterprise development in Sedanau Village from the perspective of Islamic Economics. This research employs a qualitative approach with a field research design. Data were collected through observation, semi-structured interviews, and documentation involving one Pegadaian Unit Sedanau employee and four micro-enterprise customers, selected through purposive sampling. Data analysis followed the interactive model of condensation, display, and conclusion drawing, with validity ensured through source and technique triangulation. Findings show that UMi Financing contributed to micro-enterprise development across five dimensions: strengthening working capital, sustaining operational continuity, expanding product variety, maintaining business survival, and supporting household welfare. However, its contribution remains suboptimal due to the mixing of business and household finances, unstable income, and weak financial record-keeping. Assessed through Islamic Economics, the financing partially reflects the principles of justice, amanah, transparency, ta'awun, and maslahah, but requires institutional reinforcement through business mentoring and Islamic financial literacy development. Addressing these gaps will strengthen the financing program's alignment with SDG 1, SDG 8, and SDG 10 by reducing financial vulnerability, fostering productive economic activity, and narrowing structural inequality in access to finance among island-based micro-enterprise communities.

References

Adiguna, P., Kusnaedi, U., & Hakim, R. (2024). The role of microfinance institutions in supporting financial inclusion and economic empowerment in Indonesia. Jurnal Ilmiah Akuntansi dan Bisnis, 9(2), 134–142. https://doi.org/10.38043/jiab.v9i2.6024

Affandi, Y., Ridhwan, M. M., Trinugroho, I., & Hermawan, D. (2024). Digital adoption, business performance, and financial literacy in ultra-micro, micro, and small enterprises in Indonesia. Research in International Business and Finance, 70. https://doi.org/10.1016/j.ribaf.2024.102376

Akbar, S., Hanifa, F. M., & Iskandar, S. S. (2025). Sharia-based ultra-micro (UMi) financing model for MSMEs through Islamic microfinance institutions. Manfaah: Journal of Islamic Business and Management, 5(2), 1–13. https://doi.org/10.30993/manfaah.v5i2.554

Amiliya, L., Syarif, M. E., Sumiyati, S., Nugraha, M. A., & Firdaus, R. M. (2025). The relations of sharia financial literacy, financial inclusion, and business sustainability. Indonesian Journal of Economics and Management, 5(3), 298–305. https://doi.org/10.35313/ijem.v5i3.6579

Ayunda, A., Ramadhani, I. G., Fahlevy, R., & Hayati, F. (2025). The role of sharia microfinance institutions (MFIs) in supporting the people's economy and alleviating poverty. Journal of Developmental Economics, 18(1), 1043–1052. https://doi.org/10.13057/jde.v18i1.1043

Basuki, M. Y., & Rezki, J. F. (2023). Pengaruh pembiayaan ultra mikro terhadap kinerja usaha dan kesejahteraan debitur. Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik, 8(4), 353–369. https://doi.org/10.33105/itrev.v8i4.709

Creswell, J. W., & Creswell, J. D. (2023). Research design: Qualitative, quantitative, and mixed methods approaches (6th ed., pp. 3–26). SAGE Publications.

Dewan Syariah Nasional-Majelis Ulama Indonesia. (2018). Fatwa DSN-MUI Nomor 119/DSN-MUI/II/2018 tentang pembiayaan ultra mikro berdasarkan prinsip syariah. DSN-MUI.

Diatmoko, T., Absori, A., Wardiono, K., Nashirudin, M., & Budiono, A. (2025). Islamic legal policy on ultra-micro enterprise financing and its implementation from the perspective of maqasid al-shari'a. Al-Ahkam, 35(1), 89–108. https://doi.org/10.21580/ahkam.2025.35.1.25207

Hia, V. D. P., Handaka, R. D., & Zega, Y. T. (2021). Pengaruh pembiayaan ultra mikro (UMi) terhadap pertumbuhan ekonomi daerah melalui pertumbuhan produksi industri mikro dan kecil. Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik, 6(1), 75–84. https://doi.org/10.33105/itrev.v6i1.218

Mahera, R. M., Ilham, M., & Albahi, M. (2025). Islamic financial inclusion and the empowerment of micro enterprises in remote regions. El-Kahfi: Journal of Islamic Economics, 6(1), 183–196. https://doi.org/10.58958/elkahfi.v6i01.491

Miles, M. B., Huberman, A. M., & Saldaña, J. (2018). Qualitative data analysis: A methods sourcebook (4th ed., pp. 31–33). SAGE Publications.

Otoritas Jasa Keuangan. (2024). Survei nasional literasi dan inklusi keuangan 2024. Otoritas Jasa Keuangan.

Pusat Investasi Pemerintah. (2022). Begini cara mendapatkan pembiayaan UMi dari PIP lewat Pegadaian. Kementerian Keuangan Republik Indonesia. https://pip.kemenkeu.go.id

Pusat Investasi Pemerintah. (n.d.-a). Apa itu pembiayaan UMi? Kementerian Keuangan Republik Indonesia. https://pip.kemenkeu.go.id

Rifiki, M., & Huda, N. (2025). Integration of Islamic financial technology and digital financial inclusion in Indonesia. Journal of Economics and Social Sciences, 4(2), 1183–1190. https://doi.org/10.47679/jess.v4i2.1047

Solikin, Romdhoni, A. H., & Sumadi. (2025). Peran literasi dan inklusi keuangan syariah terhadap pengembangan UMKM di Indonesia. Jurnal Ilmiah Ekonomi Islam, 11(2). https://doi.org/10.29040/jiei.v11i02.17239

Sriyono, Putri, D. A., Ardana, M. R. A., Osama, N., & Zamani, M. Z. (2024). Peran efektivitas literasi keuangan dan pembiayaan syariah terhadap stabilitas keuangan UMKM. Journal of Trends Economics and Accounting Research, 4(2), 447–454. https://doi.org/10.47065/jtear.v4i2.1084

Syahbudi, M., Barus, E., & Barus, D. S. (2024). Empowerment of ultra micro MSMEs through financing of sharia non-bank financial institutions. Jurnal Manajemen Bisnis, 14(1). https://doi.org/10.38043/jmb.v14i1.874

Wanita, N., Pratiwi, R., & Nursyamsu. (2021). Pengaruh pembiayaan ultra mikro PT Pegadaian Cabang Palu terhadap perkembangan usaha mikro kecil dan menengah di masa pandemi Covid-19. Jurnal Ilmu Perbankan dan Keuangan Syariah, 3(2), 102–120.