Islamic Development Bank Cooperates with FEB UNAIR

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Nisfu Laila (right) with Prof Dr. Ghafar Ismail Director of Islamic Research and Training Institute - Islamic Development Bank and Dr. Raditya Sukmana, Head of Islamic Economics Department as the workshop organizer (Photo: Special)

UNAIR NEWS – In the last five years, Faculty of Economics and Business (FEB) Universitas Airlangga has been trusted by Islamic Development Bank (IDB) for collaboration. This year, FEB was trusted by IDB to invite researchers from any countries in the world to share ideas on social capital management.

Those idea sharing activities can be in any forms. As held on Monday and Tuesday, October 18-19, a call for paper and “Thematic Workshop On Islamic Cooperatives as The Economic Organization of Social Capital”. The event held in FEB UNAIR was participated by dozens of researchers from Brunei Darussalam, Malaysia, Thailand, Nigeria, Africa, Pakistan, and Indonesia.

“If the country keeps borrowing money like all this time, our children or grandchildren will have to pay for it, if we see the comparison of Indonesian debts and our population. There is other alternatives which are already in Indonesia,” said Nisful Laila, SE.,M.Com, Vice Dean III FEB UNAIR.

“Looking at the reality, we are trusted by IDB to invite researchers from around the world, Islamic world especially, to share their ideas on social capital management, how can it be optimalized, and how to mitigate the risk. Other thing discussed was how social capital management best practice in each workshop participating countries,” she said.

Nisful added, the social capital concept has been an issue at international level as managing finance with social capital concept, has from local-to-local character. So the fund of the people of Surabaya, for example, will be used to meet the need of the people of Surabaya also. It is different from the banking concept.

An example of financial institution with social capital concept is sharia cooperative or better known as Baitul Maal wa at-Tamwil (BMT), where the source of fund can be from zakat, infaq and wakaf beside other people savings. The social capital  funding concept can be used to run the development of Indonesia which so far has been implemented through borrowing money to other countries and it is proven to be a burden.

“By optimalizing social capital, the country will not be burdened with the interest in certain  periods. It is clearly great potential, such as the potential of zakat which the government now is paying attention to it as one source of development fund. Nowadays tax was reduced to people who have paid zakat. It means that it is acknowledged as community contribution in the development,” she said.

There are regulations on social capital, such as the establishment of sharia cooperative in a form of BMT. The government had always been paying attention to banks than the cooperatives, because their regulations are complete so they can grow. While on social capital, it was just recently offered to the government as alternatives to country’s finance.

Nisful added, social capital is also relatively safe, without more risks, it is also cheap as it does not have interests. The concept needs supports from any elements to be implemented thoroughly. (*)

Author : Binti Q. Masruroh

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