01 Aug 2023

Crowned as 2nd place Winner in the National Islamic Economic Olympiad, FEB Student Team Develops Sharia Financial Services Cooperative Innovation

A Team of the Faculty of Economics and Business (FEB) Universitas Sebelas Maret (UNS) students, won 2nd place in the National Islamic Economic Olympiad, held at Gunadarma University, 18-22 July 2023. The collaboration of three FEB students, Novita Anggun Pratiwi (S1 Management Study Program), Fathir Faiq Aqil Murtadlo (S1 Development Economics Study Program), and Fathir Fikro Al Ishlah (S1 Development Economics Study Program), led the three to achieve the victory.

There are 50 teams from universities in Indonesia competing in the preliminary round, and 12 teams qualify for the semi-final round. Out of these teams, there are only 4 teams competing in the final round. Proposing an innovation entitled ‘Sharia Financial Services Cooperative Program Indonesia Berdaya Ukhuwah,’ derived from the three members’ idea, the team was able to attract the attention of the jury.

The idea developed by Novita and her colleagues took a modification of the Grameen Bank that had been carried out in Bangladesh, initiated by Muhammad Yunus.

“We are interested in highlighting the issue of poverty in Indonesia, which remains to this day. Grameen Bank is one of the concepts initiated by Muhammad Yunus in Bangladesh to alleviate poverty. Grameen Bank is only intended for women with the aim of minimizing poverty. This idea was modified by directing it to a group of peasant women in Karanganyar Regency,” explained Novita, the Leader of the FEB UNS Team in the National Islamic Economic Olympic.

Previously, PPK Ormawa BEM FEB UNS organized a community service program at the Karanganyar Regency Farmers Women’s Group and focused on MSMEs. The idea proposed by Novita and the Team focused on a type of financing for women farmers of Karanganyar Regency, by adhering to the principles of sharia, with a system based on members’ trust. The main goal is to alleviate poverty in Karanganyar Regency.

Later, this group of peasant women will form an association like the PKK. When the farmer group needs financing from KJKS (Sharia Financial Services Cooperative), they only need to fulfill the applicable prerequisites.

This initiative proposed by the FEB Team, which is strengthened by presenting and supporting evidence, is considered by the jury as a good program idea and is expected to be implemented in the future.