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Islamic microfinance is the integration of the two forces that are growing rapidly, namely Islamic finance and microfinance. Therefore, not only has the dual mission as conventional microfinance (financial and social intermediation), Islamic microfinance also has a spiritual mission (spiritual intermediation) as a manifestation of Islamic principles which is based and a real differentiator compared to MFIs. This study is the first empirical study to explore and establish the concept of spiritual intermediation of Islamic microfinance (IMFI) towards the concept of triple mission of MFI (i.e. financial, social and spiritual intermediation). The study used a qualitative approach with qualitative interviews and focus group discussions to 32 administrators, managers and field staff of 12 Baitul Maal wattamwil (BMT) in the city of Jambi and Kendari. The result shows that there is a spiritual intermediary conducted by BMT in the form of spiritual practice, spiritual education and spiritual training. Spiritual practice is done in two forms of activities, 1) the daily behavior of the individual/staff in accordance with Islamic principles as exemplary forms and then into the corporate culture, and 2) the behavior of the organization in accordance with Islamic principles (Sharia compliance). Spiritual education and spiritual training have been programmed by BMT, although spiritual education is still done on a limited scale, incidental, and adapted to the conditions and needs of BMT. Spiritual training, however, has not been done at all. This is due to the lack funding, expertise and network. Therefore, a planned effort and synergy needs to be done by IMFI and all stakeholders, especially the Syariah economic community (MES) to strengthen this spiritual mission, so that the mission as a whole held together with financial and social mission. This can ultimately improve the financial literacy of sharia in Indonesia and improve public access to IMFI.

Spiritual Intermediation in Islamic Microfinance: Evidence from Indonesia