Microfinancial Management from a Qur’anic Perspective: A Case Study of Small-Scale Traders in Jakarta’s Traditional Markets

Abstract

This study explores the financial management practices of small-scale Muslim traders in Jakarta’s traditional markets and how these practices align with Qur’anic values. Using a qualitative case study approach, the research draws on in-depth interviews and observations involving 25 participants across three traditional markets. The findings reveal that most traders employ informal yet adaptive strategies, often based on intuition and local wisdom. Despite the absence of structured financial systems, core Islamic values such as honesty, trust in God (tawakkul), and familial responsibility are embedded in their daily routines. The study introduces a conceptual framework for microfinancial management based on five Qur’anic principles: intention and ethics, record-keeping, budgeting, debt management, and spiritual accountability. This framework offers a practical model for economic empowerment grounded in spiritual integrity. The research recommends educational interventions and institutional support to bridge the gap between religious values and technical financial skills.