Proceedings of the Riau Annual Meeting on Law and Social Sciences (RAMLAS 2019)

The Opportunities of Sharia Insurance Company in Assisting MSMEs Under the Insurance Act in the Industrial Era 4.0

Authors
Setia Putra, Puspa Gundary
Corresponding Author
Setia Putra
Available Online 29 May 2020.
DOI
https://doi.org/10.2991/assehr.k.200529.274How to use a DOI?
Keywords
companies, sharia guarantees and MSMEs
Abstract

The issuance of Law No. 1 of 2016 concerning Guarantees which became effective in 2019, provides greater market opportunities for the guarantee industry, including sharia guarantee companies. However, Islamic guarantee companies still face a number of challenges. Based on OJK statistics related to the Indonesian guarantee institution as of June 2018, there were 2 players in sharia private guarantees with total assets of Rp1.04 trillion. Assets of sharia guarantee companies contributed 5.72% to the total assets of the guarantee industry amounting to Rp18.12 trillion. Therefore, sharia guarantee companies have the opportunity to assist in the capital of micro, small and medium enterprises (MSMEs), whose number in Indonesia was 55,206,444 Units. Furthermore, SMEs was encouraged to take advantage of the existence of Law Number 1 of 2016 concerning Guarantees. Because MSMEs usually faced obstacles, both internal and external. The partnership between sharia guarantee companies and MSMEs was expected to help the national and national economy.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the Riau Annual Meeting on Law and Social Sciences (RAMLAS 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
29 May 2020
ISBN
10.2991/assehr.k.200529.274
ISSN
2352-5398
DOI
https://doi.org/10.2991/assehr.k.200529.274How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Setia Putra
AU  - Puspa Gundary
PY  - 2020
DA  - 2020/05/29
TI  - The Opportunities of Sharia Insurance Company in Assisting MSMEs Under the Insurance Act in the Industrial Era 4.0
BT  - Proceedings of the Riau Annual Meeting on Law and Social Sciences (RAMLAS 2019)
PB  - Atlantis Press
SP  - 84
EP  - 87
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200529.274
DO  - https://doi.org/10.2991/assehr.k.200529.274
ID  - Putra2020
ER  -