THE ROLE OF JULO-JULO IN OVERCOMING THE NEGATIVE IMPACT OF MONEY LENDER PRACTICES ON COMMUNITY ECONOMIC DEVELOPMENT

Authors

  • Replita Replita State Islamic University of Sheikh Ali Hasan Ahmad Addary Padangsidimpuan, Indonesia
  • Nursyirwan Effendi Andalas University, Indonesia
  • Taufika Ophiyandri Andalas University, Indonesia
  • Djuljastri Abdul Rajak International Islamic University Malaysia, Malaysia
  • Alfan Miko Andalas University, Indonesia

DOI:

https://doi.org/10.32332/finansia.v8i2.11026

Keywords:

Julo-Julo, Loan Shark, Usury

Abstract

The practice of loan sharks in low-income communities results in economic dependence and long-term financial difficulties. The presence of Julo-Julo as a community-based traditional financial institution becomes an important alternative that can provide more humane and socially just financial solutions. The purpose of this study is to understand the role of Julo-Julo in the economic development of the community, especially at the grassroots level. This study uses a qualitative descriptive approach, with data that cannot be measured on a numerical scale. Research results state the role of Traditional Julo-Julo in overcoming the negative impacts of loan shark practices by reducing risks, conducting socialization, and providing the best services. The strategy of Traditional Julo-Julo is to keep the community away from usury practices by implementing a proactive approach and freeing the community from dependence on loan sharks.

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Published

2025-12-28

Issue

Vol. 8 No. 2 (2025): FINANSIA : Jurnal Akuntansi dan Perbankan Syariah

Section

Articles

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Copyright (c) 2025 Replita Replita, Nursyirwan Effendi, Djuljastri Abdul Rajak, Miko
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How to Cite

THE ROLE OF JULO-JULO IN OVERCOMING THE NEGATIVE IMPACT OF MONEY LENDER PRACTICES ON COMMUNITY ECONOMIC DEVELOPMENT. (2025). FINANSIA : Jurnal Akuntansi Dan Perbankan Syariah, 8(2), 213-224. https://doi.org/10.32332/finansia.v8i2.11026