Proceedings of the International Conference, Integrated Microfinance Management for Sustainable Community Development (IMM 2016)

Microfinance Practice In Bataknese Traditional Wedding Party

Authors
Niko Simamora, Estro Sihaloho
Corresponding Author
Niko Simamora
Available Online October 2016.
DOI
https://doi.org/10.2991/imm-16.2016.8How to use a DOI?
Keywords
Microfinance, Local Wisdom, Cooperative, Credit Union, Rural Bank
Abstract
Indonesia is a multiethnic country. Batak is one of ethnic that lives in North Sumatera Province. As an ethnic, Bataknese's life implements the culture as the way of life. Those cultures come from the ancestors who had been practicing the culture based on their need at the time. As the time going through and the science rapidly developed, those cultures could be interpreted as the way of solving the financing problem with the traditional way. Bataknese believed that marriage is one of the most important phases of life. This marriage often celebrated with the royal wedding party by inviting the family from both side of bride and bridegroom. The family might be come from each of their great-grandparents. This royal wedding held with the amount of money, excluding the dowry (sinamot-Batak) which is brideprice that must be paid by bridegroom after negotiating between their families. In general, all of the expenses along the party become the responsibility of bridegroom side. The burden of the cost that expended by the bridegroom could be balanced from the tumpak, presents that obligatory bring by the family of both bride and bridegroom family. Tumpak usually consist of money that conforms to the invitee relationship with the bride and bridegroom. The other present, like amount of rice and ulos (traditional woven cloth) could be sold by the family to gain some money. This revenue is excluding the presents from the friends, colleague, or others non-family partners. The Bataknese traditional wedding party shows the microfinance practice to solve the needs of celebrating the wedding party. This paper has objectives to show the local wisdom in financing and the relationship between local practice in microfinance and the institution of microfinance such as cooperative, credit union, and rural banks.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Niko Simamora
AU  - Estro Sihaloho
PY  - 2016/10
DA  - 2016/10
TI  - Microfinance Practice In Bataknese Traditional Wedding Party
BT  - International Conference, Integrated Microfinance Management for Sustainable Community Development(IMM 2016)
PB  - Atlantis Press
SN  - 2352-5428
UR  - https://doi.org/10.2991/imm-16.2016.8
DO  - https://doi.org/10.2991/imm-16.2016.8
ID  - Simamora2016/10
ER  -