President Jokowi Hopes All Islamic Boarding Schools Have Micro Waqf Bank

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 14 Maret 2018
Category: News
Read: 1.591 Views
Presiden Jokowi launches An Nawawi Tanara Micro Waqf Bank,at An Nawawi Tanara Islamic Boarding School, Serang, Banten Province, Wednesday (14/3). (Photo by: Public Relations Division/Rahmat).

Presiden Jokowi launches An Nawawi Tanara Micro Waqf Bank,at An Nawawi Tanara Islamic Boarding School, Serang, Banten Province, Wednesday (14/3). (Photo by: Public Relations Division/Rahmat).

President Joko “Jokowi” Widodo accompanied by Presidential Chief of Staff Moeldoko, Chairman of the Indonesian Ulema Council (MUI), and businessman Dato Tahir, launched An Nawawi Tanara Micro Waqf Bank, at An Nawawi Tanara Islamic Boarding School, Serang, Banten Province, on Wednesday (14/3).

Besides observing the activities of the Micro Waqf Bank, President Jokowi also met the board of the bank and customers who were given loan by this bank.

“I sense motivation as well as strong encouragement from the women to increase their family income through micro waqf bank,” said the President.

The customers got Rp1 million for their first loan of. If the business well develops, the customer will get another Rp2-3 million for the next loan.

According to the President, these phases are very good. He also added that before joining micro waqf bank, customers must participate in Islamic learning forum (pengajian) first, make a vow, and then form several groups so these customers can remind each other.

“This is a process of shared responsibility and all islamic boarding schools in our country are expected to have this micro waqf bank,” said the President.

To the customers, President Jokowi admitted that he has asked about the amount of the installment. It is Rp26,000/week and they only have to pay 3 percent administrative fees per year.

“It means it will not burden the people. Please imagine, at conventional banks you will have to pay 12 percent of interest; it even touches 40 to 60 percent if you borrow money from loan sharks,” the President said while adding that paying high interest like that should be prevented. The environment of an Islamic boarding school is expected to provide economic benefits to the residents near the school. (DNS/RAH/ES) (GWH/MMB/Naster)

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