Synergising BMT and Merah Putih Village Cooperatives, LPDB Cooperatives Expand Access to Financing
REPUBLIKA.CO.ID, SOUTH TANGERANG – The Deputy Minister of Cooperatives, Farida Farichah, conducted a working visit to BMT Al Fath IKMI in South Tangerang City, Banten. The visit was accompanied by the Director of Sharia Financing at LPDB Cooperatives, Ari Permana, to strengthen synergies in Sharia-based financing and cooperative empowerment at the grassroots level.
During the occasion, Deputy Minister Farida Farichah emphasised the importance of the role of cooperatives, particularly Baitul Maal wat Tamwil (BMT), in strengthening community-based economies. She stated that collaboration with BMT is a strategic component in supporting national priority programmes, including the Merah Putih Village/Urban Ward Cooperatives (KDKMP), to expand access to micro-financing and enhance community institutional capacity.
Meanwhile, the Director of Sharia Financing at LPDB Cooperatives, Ari Permana, assessed BMT Al Fath IKMI as one of the BMTs with a strong track record, particularly in maintaining financing quality.
“BMT Al Fath is one of the BMTs known for its relatively conservative approach since the development of BMTs in the 1990s era. This cautious stance in expansion has become a strength in maintaining healthy financing quality,” said Ari.
He added that expanding financing is key to enhancing the benefits of the revolving funds managed by LPDB Cooperatives. Therefore, LPDB Cooperatives continues to encourage BMTs, including those affiliated with the BMT Association and Inkopsyah, to make various breakthroughs in broadening the reach of financing services, including synergies with KDKMP.
According to Ari, BMTs have distinct advantages over conventional financial institutions because they emerged from social movements that have developed into Sharia economic forces.
“BMTs have two wings: business and social. This makes their approach closer to the community. Not only financing, but also continuous support,” he explained.
Furthermore, Ari emphasised that the presence of BMTs, which are widely distributed in rural areas, aligns well with the government-initiated Merah Putih Village/Urban Ward Cooperatives programme. In the scheme currently being piloted, LPDB Cooperatives channels financing to BMTs, which then passes it on to KDKMP, accompanied by intensive support.
“KDKMP essentially still requires strengthening, particularly in financing aspects. This is where the role of BMTs as supporters becomes very important, from operations to institutional strengthening, including licensing aspects,” revealed Ari.
He also stressed that LPDB Cooperatives not only channels financing but also ensures support and supervision so that the funds distributed truly have a real impact on society.
With this synergy, it is hoped that society can obtain faster, easier, and more competitive access to financing, while also receiving sustainable business support.
“The speed of financing access and competitive margins are important factors for society. If this can be fulfilled, the attractiveness of financing will be stronger and able to drive economic growth at the grassroots level,” said Ari.
This visit serves as a concrete step in strengthening collaboration between the government, LPDB Cooperatives, and BMTs as key pillars in building an inclusive and sustainable Sharia-based micro-financing ecosystem.