ABSTRACT: Microfinance
institutions are well accepted as an effective instrument in alleviating
poverty. In Indonesia, microfinance institutions can be divided into two
categories: (i) bank including BRI (Peoples’ Bank of Indonesia) and BPR (Credit
Union Bank), and (ii) non-bank sectors such as Koperasi, Lembaga Dana dan
Kredit Pedesaan (LDKP) and Badan Kredit Desa (BKD). LDKP gets formal
legalizations from local government, while BKD supervised by BRI has also
formal status from local government. Based on Surat Keputusan Bersama (SKB)
published by four ministries, BKD should be transformed into three forms: BPR,
Koperasi or Rural Government Enterprise (Badan Usaha Milik Desa/BUMdes).This
paper provides background research for potential policies to contain BKD in dealing
to institutional transformation and discusses (i) key indicators influencing
microfinance institutional transformation, (ii) BKD practices associated with
microfinance institutional regulations. An institutional economics framework
suitable for analyzing these problems is developed and presented. Based on
interviews, BKD transformations depend on five indicators: (i) instrument
capitalization, (ii) decision process, (iii) business orientation, (iv)
relationship with costumers and (v) business plan. There are three options in
terms of BKD regulation. First, there are lack of capital and human resources,
when BKD should be transformed into BPR or Koperasi. Second, when there is no
change in BKD practices, local government (PEMDA) should be active in monitoring
and evaluation to minimize moral hazard evidence. Third, when purpose of
transformation is empowering BKD, transformation should be viewed as a
long-term process, where BKD assosiation will play a crusial role in BKD
practices.
Keywords: microfinance, Badan
Kredit Desa(BKD), institutional transformation, micro corporate governance
Penulis: Budi Dwi Santosa
Kode Jurnal: jpmanajemendd110056
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