Root Causes of Low MSME Interest in Sharia Mudharabah Financing

Natalia Sihombing S.Pd Sabtu, Agustus 08, 2026
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FORMOSA NEWS

Although Micro, Small, and Medium Enterprises (MSMEs) serve as key drivers of the national economy, the absorption of profit-sharing financing schemes such as mudharabah remains relatively low. Research conducted by Moh. Asep Zakariya Ansori and his colleagues from Universitas Islam Bogor published in 2026 reveals crucial obstacles behind the minimal participation of business actors in these financial products. This study is essential for identifying solutions to strengthen financial literacy and expand fair capital access for productive business sectors.

Capital access difficulties frequently center on business development hurdles for MSMEs. The presence of Islamic financial institutions through mudharabah contracts actually offers a partnership system without fixed interest burdens, where profits are shared based on mutual agreements. However, in practice, business actors' interest in choosing this scheme still lags behind other financing products.

Using a literature review approach examining 15 journal articles published between 2017 and 2023, the research groups the causes into two main aspects. Internal factors from the MSME side include low Islamic financial literacy, minimal understanding of mudharabah contract mechanisms, unstructured bookkeeping administration, and the perception that application procedures are too complex. Meanwhile, from the institutional side, Islamic financial institutions tend to be more selective and avoid high-risk products due to potential information asymmetry and moral hazard issues from debtors.

These findings indicate that primary barriers stem from minimal education and administrative constraints that limit the operational space of business actors. Therefore, the authors emphasize the need for enhanced socialization by financial institutions, simplification of administrative procedures, and the strengthening of Islamic financial literacy so that profit-sharing financing programs can be accessed more inclusively to support sustainable business growth.

Author Profiles

  • Full Names: Moh. Asep Zakariya Ansori (Corresponding Author), Rahmat Setiabudi, Muhammad Raffi Fadillah, Muhammad Faisal Rahmatullah, Zein Ariffin, Aditya Maulana
  • University Affiliation: Universitas Islam Bogor
  • Fields of Expertise: Islamic Economics, Islamic Banking, and MSME Financial Management

Research Sources

Natalia Sihombing S.Pd

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