Analisis Kebijakan Moneter Perbankan Syariah Terhadap UMKM di Indonesia

Abstract

The development of sharia monetary policy in the dual financial system continues to refer to developments that encourage maximum economic growth, price stability and increased employment opportunities. The sharia banking industry is currently continuing to increase, but many MSMEs are still untouched by this industry. Even though the government has made efforts to revive MSMEs and provided many incentives such as low interest rates, the question is why this is still a dilemma for Indonesian MSMEs. Monetary policy is the rules and regulations issued by the monetary authority to control money in circulation, inflation, and to maintain the economic stability of a country. This can be achieved in several ways, such as changes in interest rates, open market operations, as well as amendments to reserves of certain assets and deposits. In its implementation, monetary policy strategies are carried out differently in each country, according to the objectives to be achieved and the transaction mechanisms that apply to that country's economy. This research is a literature review, namely research that discusses sharia monetary policy towards MSMEs through Indonesian banking policies, namely BI interest rates.