LESSON LEARNED KPBU SHARIA IMBT SCHEME IN THE JALINTIM SUMATRA

Abstract

Due to the limited budget funds for infrastructure development, the Government is implementing various financing innovations. One of the innovations in infrastructure financing is cooperation between the government and business entities (KPBU). Along with the increasing of the Islamic financial industry, Islamic banking can contribute to KPBU financing with a sharia scheme. This article presents one of the success stories of KPBU financing from Islamic banking with the Ijarah Mumtahiya Bit Tamlik (IMBT) scheme, namely the Preservation of the Jalintim Sumatra Road. This article aims to explore lessons learned from the sharia-based KPBU financing model so that it can be replicated for financing other regional infrastructure development. By using qualitative research methods, the author explores the KPBU financing model with a sharia scheme to obtain lessons learned from the financing model. Synergy between the regional government and the Project Cooperation Manager (PJPK) is one of the success key in project preparation. Socialization related to sharia scheme KPBU financing still need to be improved. KPBU the Availability Payment (AP) model is more suitable to use financing with the IMBT contract.