A Beneficial Alternative to Loan Sharks
The Financial Services Authority set a target of 40 micro wakaf banks to be set up this year. They are meant to eliminate economic disparity and poverty among disadvantaged communities in rural areas.
The Islamic boarding school students appeared to be seriously listening to the explanation of Commissioner Board Chair of the Financial Services Authority (OJK) Wimboh Santoso. Some frowned, while others just gaped. The topic of the talk on Tuesday last week concerned micro wakaf (waqf or endowment) banks. At the meeting, a question was asked whether they could become customers of the wakaf banks.
Wimboh answered that they should first focus on...