Abstract:
This study aims to analyze the effectiveness of the joint liability system in reducing non-performing loans and strengthening women’s economic empowerment within the PNM Mekaar program. The research employed a cross-sectional survey design involving 185 active respondents selected through purposive sampling. Data were analyzed using multiple linear regression and paired sample t-tests to examine the relationships among variables and changes in non-performing loan rates before and after the implementation of the system. The findings indicate that the joint liability system improved members’ repayment discipline by 87.6% and reduced the non-performing loan ratio from 8.3% to 2.1%. Social capital dimensions, including social networks, trust, and collective norms, were found to have a positive and significant effect on the system’s effectiveness (p < 0.05). In addition, financial literacy, mentoring quality, and consi stent supervision contributed to the program’s success. These findings highlight the importance of social capital in supporting microfinance sustainability and enhancing women’s economic empowerment.
References
Agnesia, C., Herdi, H., & Rangga, Y. D. P. (2025). ANALISIS DAMPAK PROGRAM PERMODALAN NASIONAL MADANI (PNM) MEKAAR DALAM PERKEMBANGAN USAHA MIKRO PADA KELOMPOK PNM CINTA KARMEL INDAH. Jurnal Projemen UNIPA, 12(3), 719–728.
Ahmad, A. A., Zain, M. N. M., & Haryanto, R. (2023). MICRO FINANCING REVOLUTION BY DR. MUHAMMAD YUNUS THROUGH GRAMEEN BANK: A MOVEMENT TOWARDS ERADICATION OF POVERTY ACCORDING TO ISLAM. Al-Qanatir: International Journal of Islamic Studies, 31(2), 132–140.
Akibun, F., Biki, J. P., Timbert, F. M., & Latala, F. H. (2025). PENGARUH SPI, SIA, DAN PENGAWASAN KEUANGAN TERHADAP KUALITAS LAPORAN KEUANGAN DAERAH: PERSPEKTIF PEMANGKU KEPENTINGAN. Jurnal Manajemen Keuangan Sektor Publik (J-MKSP), 1(1), 21–30. https://doi.org/10.37606/j-mksp.v1i1.296
Akibun, F., Gintulangi, S. O., & Arifin, R. (2024). PEMBINAAN USAHA MIKRO, KECIL, DAN MENENGAH (UMKM) DI DESA TALANGO DALAM MENINGKATKAN KESEJAHTERAAN EKONOMI. Awara: Jurnal Pengabdian Masyarakat (AJPM), 1(1), 7–14.
Allen, F., & Qian, M. (2025). ALTERNATIVE FINANCE IN THE INTERNATIONAL BUSINESS CONTEXT: A REVIEW AND FUTURE RESEARCH. Journal of International Business Studies, 56(1), 43–61. https://doi.org/10.1057/s41267-024-00739-x
Anwar, A., Kumalasari, N., & Masthuroh, M. (2025). PERAN PNM MEKAAR DALAM PENYALURAN PEMBIAYAAN UNTUK MENINGKATKAN PENDAPATAN UMKM DI KOTA BANDAR LAMPUNG. FLURALIS: Faletehan Jurnal Ekonomi dan Bisnis, 52–60. https://doi.org/10.61252/fluralis.v4i2.246
Ardiana, T. M. (2023). ANALISIS EFEKTIVITAS SISTEM TANGGUNG RENTENG DALAM MEMINIMALISIR RISIKO KREDIT MACET DI LEMBAGA PERMODALAN NASIONAL MADANI (PNM) MEKAAR KELURAHAN CIPAKU KECAMATAN MREBET KABUPATEN PURBALINGGA. UIN Prof. KH. Saiffuddin Zuhri Purwokerto.
Azuha, D. H., & Lahuri, S. B. (2025). ANALISIS KESESUAIAN PEMBIAYAAN MODEL GRAMEEN BANK TERHADAP FATWA DSN MUI NO. 119 TAHUN 2018. Citizen: Jurnal Ilmiah Multidisiplin Indonesia, 5(5), 1421–1432. https://doi.org/10.53866/jimi.v5i5.1014
Banerjee, A. V., & Duflo, E. (2025). POOR ECONOMICS: A RADICAL RETHINKING OF THE WAY TO FIGHT GLOBAL POVERTY. Hachette UK.
Banerjee, A. V., & Duflo, E. (2026). POOR ECONOMICS: RETHINKING POVERTY & THE WAYS TO END IT. Penguin Random House India Private Limited.
Barua, U., & Khaled, A. F. Md. (2023). THE GRAMEEN BANK MICROFINANCE MODEL IN THE GLOBAL NORTH: PROCESSES, TRANSFER INTERMEDIARIES AND ADOPTION. Journal of Comparative Policy Analysis: Research and Practice, 25(5), 546–563. https://doi.org/10.1080/13876988.2023.2223542
Biahimo, M., Mokodongan, R., Akibun, F., & Thalib, T. (2025). ANALISIS KECERDASAN EMOSIONAL PEMIMPIN PEREMPUAN TERHADAP EFEKTIVITAS KERJA TIM MULTIGENERASI. Jurnal Manajemen Keuangan Sektor Publik (J-MKSP), 1(2), 83–99. https://doi.org/10.37606/j-mksp.v1i2.354
Cai, W., Polzin, F., & Stam, E. (2021). CROWDFUNDING AND SOCIAL CAPITAL: A SYSTEMATIC REVIEW USING A DYNAMIC PERSPECTIVE. Technological Forecasting and Social Change, 162, 120412. https://doi.org/10.1016/j.techfore.2020.120412
Creswell, J. W., & Guetterman, T. C. (2025). EDUCATIONAL RESEARCH: PLANNING, CONDUCTING, AND EVALUATING QUANTITATIVE AND QUALITATIVE RESEARCH (7th ed.). Pearson Education.
Demila, D., & Sundari, S. (2023). THE ROLE OF PT. PERMODALAN NASIONAL MADANI (PNM) MEKAAR SYARIAH IN INCREASING THE INCOME OF HOUSEWIVES OF ULTRA MICRO BUSINESSES (UMI). Danadyaksa: Post Modern Economy Journal, 1(1), 54–69. https://doi.org/10.69965/danadyaksa.v1i1.7
Demirguc-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). THE GLOBAL FINDEX DATABASE 2017: MEASURING FINANCIAL INCLUSION AND THE FINTECH REVOLUTION. World Bank Publications.
Demirgüç-Kunt, A., & Singer, D. (2017). FINANCIAL INCLUSION AND INCLUSIVE GROWTH: A REVIEW OF RECENT EMPIRICAL EVIDENCE (SSRN Scholarly Paper No. 2958542). Social Science Research Network. https://papers.ssrn.com/abstract=2958542
Febriyani, L., Nugroho, A. A., Leksono, B. K., Maheswara, P. W., & Saputra, H. (2023). ULTRA MICRO FINANCING (UMI) AND TRADE LABOR: IMPACTS ON GRDP IN THE LARGE TRADE AND RETAIL BUSINESS FIELD OF BANGKA BELITUNG ISLANDS PROVINCE (2017–2022). International Journal of Magistravitae Management, 1(1), 60–69. https://doi.org/10.33019/ijomm.v1i1.5
Fitria Akibun, Kida, R. M., & Mokodongan, R. (2025). PENGARUH WISATA PANTAI OLUHUTA TERHADAP PENDAPATAN MASYARAKAT DI KABUPATEN BONE BOLANGO. Publik: Jurnal Manajemen Sumber Daya Manusia, Administrasi dan Pelayanan Publik, 12(2), 863–873. https://doi.org/10.37606/publik.v12i2.1778
Ge, X. (2023). EXPERIMENTALLY MANIPULATING MEDIATING PROCESSES: WHY AND HOW TO EXAMINE MEDIATION USING STATISTICAL MODERATION ANALYSES. Journal of Experimental Social Psychology, 109, 104507. https://doi.org/10.1016/j.jesp.2023.104507
Hasan, M., Le, T., & Hoque, A. (2021). HOW DOES FINANCIAL LITERACY IMPACT ON INCLUSIVE FINANCE? Financial Innovation, 7(1), 40. https://doi.org/10.1186/s40854-021-00259-9
Hasanah, U., & Syahrin, M. A. (2025). ANALISIS EFEKTIVITAS DAN TANTANGAN SISTEM PEMBIAYAAN TANGGUNG RENTENG PADA PNM MEKAAR: PERSPEKTIF EKONOMI SYARIAH DAN DAMPAK SOSIAL EKONOMI. Jurnal Asy-Syarikah: Jurnal Lembaga Keuangan, Ekonomi dan Bisnis Islam, 7(1), 86–99. https://doi.org/10.47435/asy-syarikah.v7i1.3537
Hermes, N., & Lensink, R. (2020). MICROFINANCE AND DEVELOPMENT. Dalam Contemporary Issues in Development Finance. Routledge.
Hulme, D. (2000). IMPACT ASSESSMENT METHODOLOGIES FOR MICROFINANCE: THEORY, EXPERIENCE AND BETTER PRACTICE. World Development, 28(1), 79–98. https://doi.org/10.1016/S0305-750X(99)00119-9
Karlan, D. S. (2007). SOCIAL CONNECTIONS AND GROUP BANKING. The Economic Journal, 117(517), F52–F84.
Katili, A. Y., Arifin, R., & Mokodongan, R. (2025). GOVERNANCE CAPACITY DAN KERENTANAN LINGKUNGAN PERKOTAAN: ANALISIS PERAN BIROKRASI DALAM PENGELOLAAN BANJIR DAN PERMUKIMAN KUMUH DI KELURAHAN BUGIS. Jurnal Administrasi, Manajemen Sumber Daya Manusia dan Ilmu Sosial (JAEIS), 4(3), 110–123.
Kuntaryanto, O., Agung Nugroho Jati, Cahaya Nugrahani, Titik Purwanti, & Cucut Prakosa. (2025). KONTRIBUSI LITERASI KEUANGAN TERHADAP INKLUSI KEUANGAN DENGAN PENDIDIKAN SEBAGAI VARIABEL PEMODERASI: STUDI KASUS PADA GURU PEREMPUAN DI KABUPATEN KLATEN. Widya Dharma Journal of Business (WIJoB), 4(1), 49–60. https://doi.org/10.54840/wijob.v4i1.370
Lubis, F. A., Rahmani, N. A. B., & Putri, I. K. (2023). STRATEGI PEMBERDAYAAN USAHA MIKRO KECIL MENENGAH (UMKM) MELALUI PROGRAM MEKAAR OLEH PT. PNM KOTA MEDAN PERSPEKTIF EKONOMI ISLAM. Jurnal Ilmiah Ekonomi Islam, 9(1), 949–962. https://doi.org/10.29040/jiei.v9i1.8348
MacKinnon, D. P., Cheong, J., Pirlott, A. G., & Smyth, H. L. (2023). STATISTICAL MEDIATION ANALYSIS IN PSYCHOLOGICAL RESEARCH. Dalam APA Handbook of Research Methods in Psychology: Research Designs: Quantitative, Qualitative, Neuropsychological, and Biological (Vol. 2, 2nd ed., hlm. 435–458). American Psychological Association. https://doi.org/10.1037/0000319-020
Marshall, M. P., & Marshall, A. (2023). THE ECONOMICS OF INDUSTRY. Dalam Women’s Economic Writing in the Nineteenth Century. Routledge.
Meador, J. E. (2014). CREATING A WORLD WITHOUT POVERTY: SOCIAL BUSINESS AND THE FUTURE OF CAPITALISM. Community Development, 45(2), 210–211. https://doi.org/10.1080/15575330.2014.890406
Mendonca, E. D. C., Ndoen, W. M., Makatita, R. F., & Amtiran, P. Y. (2024). PERAN PNM MEKAAR DALAM PENYALURAN PEMBIAYAAN UNTUK MENINGKATKAN PENDAPATAN UMKM DI KELURAHAN ATAMBUA KOTA. GLORY Jurnal Ekonomi dan Ilmu Sosial, 5(1), 53–64. https://doi.org/10.35508/glory.v5i1.13237
Muda, R., Rachman, E., & Akibun, F. (2024). STRATEGI PENINGKATAN PENDAPATAN PADA UMKM PIA PUTRA KUSUMA. Innovative: Journal of Social Science Research, 4(4), 9026–9037.
Mushlih, M. A. H., & Sinurat, D. A. J. (2025). INKLUSI KEUANGAN DAN LITERASI KEUANGAN DI DAERAH TERTINGGAL: INDONESIA. Indo-Fintech Intellectuals: Journal of Economics and Business, 5(3), 5725–5735. https://doi.org/10.54373/ifijeb.v5i3.3558
Nggilu, R., & Mokodongan, R. (2026). MODEL MANAJEMEN SDM PUBLIK BERBASIS KOMPETENSI DIGITAL DAN ETIKA PELAYANAN PUBLIK (STUDI KONSEPTUAL PADA DINAS KEPEGAWAIAN KOTA GORONTALO). Jurnal Agregasi: Aksi Reformasi Government dalam Demokrasi, 14(1), 111–127. https://doi.org/10.34010/agregasi.v14i1.19144
OJK. (2022). SIARAN PERS: INDEKS LITERASI DAN INKLUSI KEUANGAN MASYARAKAT MENINGKAT. https://ojk.go.id/id/berita-dan-kegiatan/siaran-pers/Pages/Indeks-Literasi-dan-Inklusi-Keuangan-Masyarakat-Meningkat.aspx
Osabutey, E. L. C., & Jackson, T. (2024). MOBILE MONEY AND FINANCIAL INCLUSION IN AFRICA: EMERGING THEMES, CHALLENGES AND POLICY IMPLICATIONS. Technological Forecasting and Social Change, 202, 123339. https://doi.org/10.1016/j.techfore.2024.123339
Putnam, R. D. (2025). “BOWLING ALONE: AMERICA’S DECLINING SOCIAL CAPITAL” (1995). Dalam The City Reader (8th ed.). Routledge.
Putri, K. K., Kusumaningtyas, D., & Widodo, M. W. (2024). EFEKTIVITAS SISTEM TANGGUNG RENTENG BERDASARKAN PERSEPSI NASABAH PADA BUMDESMA TAROKAN MANDIRI, KECAMATAN TAROKAN. 9, 436–446.
Qi, J., Mazumdar, S., & Vasconcelos, A. C. (2024). UNDERSTANDING THE RELATIONSHIP BETWEEN URBAN PUBLIC SPACE AND SOCIAL COHESION: A SYSTEMATIC REVIEW. International Journal of Community Well-Being, 7(2), 155–212. https://doi.org/10.1007/s42413-024-00204-5
Ribeiro, J. P. C., Duarte, F., & Gama, A. P. M. (2022). DOES MICROFINANCE FOSTER THE DEVELOPMENT OF ITS CLIENTS? A BIBLIOMETRIC ANALYSIS AND SYSTEMATIC LITERATURE REVIEW. Financial Innovation, 8(1), 34. https://doi.org/10.1186/s40854-022-00340-x
Saluja, O. B., Singh, P., & Kumar, H. (2023). BARRIERS AND INTERVENTIONS ON THE WAY TO EMPOWER WOMEN THROUGH FINANCIAL INCLUSION: A 2 DECADES SYSTEMATIC REVIEW (2000–2020). Humanities and Social Sciences Communications, 10(1), 148. https://doi.org/10.1057/s41599-023-01640-y
Sari, D. J. R. K., Wafa, F. E., Badrian, & Jahra, P. M. (2024). THE IMPACT OF PEOPLE’S BUSINESS CREDIT FINANCING ON IMPROVING THE FINANCIAL PERFORMANCE OF UMKM ASSISTED BY BANK SYARIAH INDONESIA TANJUNG BRANCH OFFICE, SOUTH KALIMANTAN. Al Iqtishod: Jurnal Pemikiran dan Penelitian Ekonomi Islam, 12(1), 56–74. https://doi.org/10.37812/aliqtishod.v12i1.1366
Siregar, N. P. (2025). EFEKTIVITAS PERMODALAN NASIONAL MADANI MEMBINA EKONOMI KELUARGA SEJAHTERA (PNM MEKAAR) DALAM MEMENUHI KEBUTUHAN SOSIAL EKONOMI KELUARGA DI KELURAHAN SITINJAK TAPANULI SELATAN.
Todd, H. (2021). WOMEN AT THE CENTER: GRAMEEN BANK BORROWERS AFTER ONE DECADE. Routledge.
Xu, F., Wang, Q., Moro, E., Chen, L., Salazar Miranda, A., González, M. C., Tizzoni, M., Song, C., Ratti, C., Bettencourt, L., Li, Y., & Evans, J. (2025). USING HUMAN MOBILITY DATA TO QUANTIFY EXPERIENCED URBAN INEQUALITIES. Nature Human Behaviour, 9(4), 654–664. https://doi.org/10.1038/s41562-024-02079-0