PERAN OTORITAS JASA KEUANGAN DALAM MELAKUKAN PENGAWASAN TERHADAP BAITUL MAAL WA TAMWIL

Baitul Maal wa Tamwil (BMT) is a business center that strongly supports the economy of the community, especially the lower middle class. Prior to the Law on Microfinance Institutions, BMT did not yet have a clear legal umbrella so it was free to determine its legal entity. But after the enactment of the law number 1 of 2013 concerning microfinance institutions, permitted legal entities of BMT are Cooperatives and Limited Liability Companies. In addition, to conduct its business BMT must obtain a business license and be overseen by the Financial Services Authority (OJK). For this reason, it is necessary to study the role of OJK in overseeing BMTs and reviewing the theory of supervision and Maqāşid Asy-syarī‘ah. This research is a qualitative study conducted with the type of library research (library research) by collecting data sourced from books, laws, journals, and other documents that can help in analyzing with the aim to find out the role of OJK in conducting supervision on BMT as well as a review of sharia supervision theory and Maqashid related to this matter. This research is analytical descriptive by describing the rules relating to research. Based on the research that has been done, it can be concluded that OJK’s role in BMT is to make regulations in order to implement the laws of microfinance institutions such as regulations on business licensing and institutions micro. In terms of supervision, the OJK conducts indirect supervision through financial reports every 4 (four) months and direct supervision by inspection to the BMT’s domicile. In addition, the supervision carried out by the OJK is in line with Maqāşid Asy-syarī‘ah, namely Hifz maal (Preservation of Assets). This can be seen in every report that must be submitted by BMT to OJK every 4 (four) months. This aims to maintain customer funds so that they are allocated properly and BMT is only allowed to take reasonable profit through the profit sharing principle in accordance with the contracts that have been determined based on sharia principles