Feasibility of Developing a Sharia-Compliant Creative Economy Model in Indonesia
1Ayus Ahmad Yusuf, 2Achmad,3Asmiyati Khusnul Maryam,4Dinan Fathi Shiddieqy
1,2,3 UIN Siber Syekh Nurjati Cirebon, Indonesia
4Universitas Sebelas Maret, Indonesia
https://doi.org/10.47191/jefms/v8-i2-12
ABSTRACT:
This study aimed to assess the feasibility, sensitivity, and characteristics of creative economy businesses in the Cirebon area of West Java. A quantitative approach with a descriptive method was used, collecting primary data through questionnaires and secondary data from MSME statistics and the Cirebon area profile. Purposive sampling was applied, selecting businesses based on certain criteria: (1) regional expertise, (2) large market potential, (3) growth potential, and (4) local government support. The findings show that the potential for creative products in the region is high. Technologically, raw materials, production materials, and necessary infrastructure are readily available, and local producers have the experience and skills required. From a financial perspective, significant investment capital is needed initially, but working capital requirements are relatively small. Socio-economically, creative economic activities have a positive impact, potentially increasing regional income through taxes and other business-related fees. Bank financing is mostly from conventional banks, with limited support from Islamic banks. However, Islamic financing options like mudharabah, musyarakah, murabahah, ijarah, and ijarah muntahiya bit tamlik could be developed for creative economic ventures.
KEYWORDS:
Creative Economy; Maqashid Sharia; Islamic Financing Model
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