Abstract
This study explores the role of Camp Bebas Riba (CBR), a faith-based community initiative, in supporting financial transformation among Micro, Small, and Medium Enterprises (MSMEs). It examines participants’ motivations, financial experiences, and the role of community-based social capital in sustaining financial change. Using a qualitative Interpretative Phenomenological Analysis (IPA) approach, the study involved six active CBR participants comprising one mentor, two organizational leaders, and three MSMEs operators in Purwokerto and Klaten, Indonesia. Participants were selected through snowball sampling, and data were collected through semi-structured interviews conducted on September 28–30 and December 15–16, 2024. This article argues that financial transformation developed through an interconnected process of spiritual awareness, financial education, and social support. Participants’ awareness of riba and motivation for financial hijrah encouraged them to reassess borrowing practices, while financial literacy and Islamic financial management education supported improvements in debt and business financial management. Trust shared religious values, solidarity, and community networks further reinforced these changes. The study demonstrates that CBR operates not only as a space for financial education but also as a community context where spiritual values, financial capabilities, and social capital interact to support MSMEs financial transformation.
References
Adi, Kurniadi, Prades Arianto Silondae, Achmad Abubakar, Halimah Basri, and Muh. Azka Fazakah Rifah. “Perilaku Hedonis dalam Al-Qur’an Studi atas Term al-Israf Q.S al-A’raf Ayat 31.” Al-Mutsla 5, no. 2 (2023): 425–37. https://doi.org/10.46870/jstain.v5i2.755.
Aliyi, Murad Ahmed. “Legal and Regulatory Issues of Islamic Finance in Ethiopia.” International Journal of Research in Business and Social Science (2147- 4478) 14, no. 10 (2026): 194–205. https://doi.org/10.20525/ijrbs.v14i10.4809.
Andres, Virginia, and Dongcheol Heo. “Organizational Transformation in Crisis: Learning from Emergent Patterns of Knowing and Organizing.” The Learning Organization 30, no. 3 (2023): 290–308. https://doi.org/10.1108/TLO-09-2022-0104.
Anni Yudiastuti, Heri Pratikto, and Sopiah. “Social Capital, Joint Responsibility Systems, And Empowerment of Women in MSMEs: A Conceptual Framework.” International Journal of Science, Technology & Management 2, no. 6 (2021): 2239–46. https://doi.org/10.46729/ijstm.v2i6.397.
Asari, Nur Aifaa Maisarah. “Islamic Guidance for Responsible Personal Financial Decision-Making.” SSRN Electronic Journal, ahead of print, 2024. https://doi.org/10.2139/ssrn.4851566.
Asutay, Mehmet. “Islamic Moral Economy: Bringing Back Substantive Morality to Humanise Islamic Finance.” Global Policy 16, no. S1 (2025): 7–11. https://doi.org/10.1111/1758-5899.13487.
Azmat, Saad, Ayesha Bhatti, and M. Kabir Hassan. “Understanding ‘Riba’ (Interest): The Religious and the Rational.” Emerald Emerging Markets Case Studies 11, no. 3 (2021): 1–11. https://doi.org/10.1108/EEMCS-08-2020-0288.
Budihardja, Georgius Ivan. “Kebijakan Restrukturisasi Kredit Oleh Bank Terhadap Debitur UMKM Terdampak Langsung Maupun Tidak Langsung Pandemi Covid-19.” Jurist-Diction 5, no. 4 (2022): 1313–46. https://doi.org/10.20473/jd.v5i4.37311.
Djumadi, Arzal Syah, Hamida, Mujahidin, and Kamiruddin. “Critical Review of Murābaḥah Financing in Contemporary Islamic Banking: A Maqāṣid al-Sharī‘ah Perspective.” MILRev: Metro Islamic Law Review 4, no. 2 (2025): 1152–88. https://doi.org/10.32332/milrev.v4i2.11087.
Hasan, Zulfikar. “Impact of Digital Financial Literacy on Consumer Protection, Investor Security, and Financial Transactions in Indonesia.” International Journal of Islamic Economics and Finance Research 7, no. 2 (2024): 55–77. https://doi.org/10.53840/ijiefer165.
Hj Talip, Siti Nor Suriana, and Shaista Wasiuzzaman. “Influence of Human Capital and Social Capital on MSME Access to Finance: Assessing the Mediating Role of Financial Literacy.” International Journal of Bank Marketing 42, no. 3 (2024): 458–85. https://doi.org/10.1108/IJBM-04-2023-0214.
Ishak, Muhammad Shahrul Ifwat, and Fathullah Asni. “The Role of Maqasid al-Shariʿah in Applying Fiqh Muamalat into Modern Islamic Banking in Malaysia.” Journal of Islamic Accounting and Business Research 11, no. 10 (2020): 2137–54. https://doi.org/10.1108/JIABR-12-2019-0224.
Johari, Fuadah Binti. “Enhancing the Measurement of Financial Literacy: Integrating Digital Dimensions for Inclusive Financial Well-Being.” The Proceedings of the ASEAN School of Business Network International Conference 2 (2025): 497–509. https://doi.org/10.64458/asbnic.v2.96.
Jumady, Edy, Syamsul Alam, Hasbiyadi Hasbiyadi, Yana Fajriah, and Yaisa Anggraini. “The Effect of Financial Planning on Consumer Debt Management: The Role of Financial Literacy, Self-Efficacy, and Financial Motivation.” Atestasi : Jurnal Ilmiah Akuntansi 7, no. 1 (2024): 340–68. https://doi.org/10.57178/atestasi.v7i1.793.
Kaur, Rajwinder, and Manjit Singh. “The Dynamics of Family Financial Socialization: Impact on Financial Self-Efficacy and Financial Behavior.” NMIMS Management Review 32, no. 2 (2024): 106–17. https://doi.org/10.1177/09711023241282195.
Kurjono, et.al. Pengetahuan Kewirausahaan dalam Meningkatkan Intensi Berwirausaha, Bandung: UPI Press, 2023.
Lea, Stephen E. G. “Debt and Overindebtedness: Psychological Evidence and Its Policy Implications.” Social Issues and Policy Review 15, no. 1 (2021): 146–79. https://doi.org/10.1111/sipr.12074.
Liu, Chia-Fu, and Ali Mostafavi. “Network Dynamics of Community Resilience and Recovery: New Frontier in Disaster Research.” International Journal of Disaster Risk Reduction 123 (2025): 105489. https://doi.org/10.1016/j.ijdrr.2025.105489.
Mirbagheri, Seyed Mohsen, and Ata Ollah Rafiei Atani Rafieiatani. “Examining the Relationship between Common Rationality, Collective Decision-Making, and Social Capital: A Structural Equation Modelling.” Operations Research and Decisions 35, no. 4 (2025): 51–71. https://doi.org/10.37190/ord/206037.
Mohd Yunus, Saidatolakma, and Fitra Rizal. “Value-Based Intermediation in Islamic Finance in Malaysia: An Overview on Strategy, Issues and Challenges.” Etihad: Journal of Islamic Banking and Finance 5, no. 2 (2025): 102–17. https://doi.org/10.21154/etihad.v5i2.12275.
Muhammad, Adamu Abubakar, Nabeela Usman El-Nafaty, Adam Muhammad Ardo, Rabi Shehu Dalhatu, and Abubakar Aliyu Yakub. “Halal Food Production and Nutritional Value: A Study of MSMEs in Northern Nigeria.” Al-Amwal : Jurnal Ekonomi Dan Perbankan Syari’ah 17, no. 2 (2025): 142. https://doi.org/10.70095/alamwal.v17i2.21974.
Mulyana, Nurdin, Ridla Mutiah, and Agung Apriana. “The Impact of Public Understanding of Usury on Debt and Receivable Behavior from an Islamic Perspective.” International Journal of Economics, Management and Accounting (IJEMA) 2, no. 3 (2024): 439–46. https://doi.org/10.47353/ijema.v2i3.190.
Mutanda, Bronson, and Bomi Cyril Nomlala. “Exploring the Potential of Islamic Finance in Bridging the Financial Inclusion Gap: A Systematic Review of Literature.” European Journal of Islamic Finance 12, no. 3 (2025): 72–87. 38MB. https://doi.org/10.13135/2421-2172/11201.
Pervez, Imtiaz A. “Ethics and Impact of Islamic Finance: Exploring the Gap between Theory and Practice.” Journal of Insurance and Financial Management 5, no. 4 (1990): 259. https://doi.org/10.2307/3381929.
Prayitno, Gunawan, Dian Dinanti, Rahmawati Rahmawati, Lusyana Eka Wardhani, and Aidha Auliah. “Community Decision Making Based on Social Capital during COVID-19 Pandemic: Evidence from Bangelan Village Tourism, Indonesia.” Journal of Socioeconomics and Development 5, no. 1 (2022): 127. https://doi.org/10.31328/jsed.v5i1.3477.
Putnam, Robert D. Bowling Alone: The Collapse and Revival of American Community. Simon & Schuster, 2000.
Rahayu, Fadilah Siti, Asep Risman, Iwan Firdaus, and Luna Haningsih. “The Behavioral Finance of MSME in Indonesia: Financial Literacy, Financial Technology (Fintech), and Financial Attitudes.” International Journal of Digital Entrepreneurship and Business 4, no. 2 (2023). https://doi.org/10.52238/ideb.v4i2.127.
Rijal, Syamsul. “Pursuing Hijrah to Salafi Path: Urban Muslim Youth and the Quest for Self-Transformation in Indonesia.” Contemporary Islam 19, no. 1 (2025): 101–21. https://doi.org/10.1007/s11562-024-00564-x.
Rizal, Rizal, Nil Firdaus, Ruslan Abdul Ghofur, Heni Noviarita, and Pertiwi Utami. “Opportunities and Challenges of Conversion of Sharia Regional Development Banks in Economic Development Efforts and Income Distribution.” Journal of Distribution Science 21, no. 2 (2023): 65–76. https://doi.org/10.15722/JDS.21.02.202302.65.
Rojas, Yerko. “Financial Indebtedness and Suicide: A 1-Year Follow-up Study of a Population Registered at the Swedish Enforcement Authority.” International Journal of Social Psychiatry 68, no. 7 (2022): 1445–53. https://doi.org/10.1177/00207640211036166.
Setiawan, Romi Adetio. “Avoidance of Riba-Based Loans and Enhancement of Quality of Life: An Indonesian Context Analysis.” Religions 14, no. 11 (2023): 1376. https://doi.org/10.3390/rel14111376.
Sheikh, Rafiullah, and Khalid Hussain. “Harmony or Discord: Analyzing Stakeholders’ Viewpoints on Islamic Banking.” Qualitative Research in Financial Markets, December 23, 2025, 1–27. https://doi.org/10.1108/QRFM-04-2025-0115.
Vu, Pham Minh, Tu Van Binh, and Linh Nguyen Khanh Duong. “How Social Capital Affects Innovation, Marketing and Entrepreneurial Orientation: The Case of SMEs in Ho Chi Minh (Vietnam).” Journal of Innovation and Entrepreneurship 12, no. 1 (2023): 81. https://doi.org/10.1186/s13731-023-00350-8.
Wijaya, Haykal Rafif, Sri Rahayu Hijrah Hati, Irwan Adi Ekaputra, and Salina Kassim. “The Impact of Religiosity and Financial Literacy on Financial Management Behavior and Well-Being among Indonesian Muslims.” Humanities and Social Sciences Communications 11, no. 1 (2024): 830. https://doi.org/10.1057/s41599-024-03309-6.
Wulandari, Roosalina, Mirra Noor Milla, and Hamdi Muluk. “When Uncertainty Motivates Identity Restoration in Religious Groups: The Hijra Phenomenon.” Religions 13, no. 10 (2022): 913. https://doi.org/10.3390/rel13100913.
Zahedi, Javad, Mahdi Salehi, and Mahdi Moradi. “Identifying and Classifying the Contributing Factors to Financial Resilience.” Foresight 24, no. 2 (2022): 177–94. https://doi.org/10.1108/FS-10-2020-0102.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Copyright (c) 2026 Epistemé: Jurnal Pengembangan Ilmu Keislaman