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Musyarakah Mutanaqisah (MMQ) is a form of sharia-based financing that offers a home ownership solution free from elements of interest (riba). This article aims to analyze the application of the MMQ contract in housing finance, compare it with the conventional mortgage scheme (Kredit Pemilikan Rumah/KPR), and evaluate its impact on community welfare. This study employs a descriptive qualitative approach through literature review of academic sources, regulations, and other relevant data. The analysis shows that MMQ is superior in terms of compliance with Islamic principles, fairness in risk sharing, and flexibility in payment structure. Furthermore, the MMQ scheme contributes to the improvement of social and economic well-being, particularly for the lower-middleincome segment of society. Nevertheless, its implementation still faces challenges such as the risk of default and the need for strengthened risk management systems. Therefore, collaboration between Islamic financial j, the government, and the public is essential to optimize the potential of MMQ as a fair and sustainable alternative for home financing

This study aims to identify the risks that will arise due to fraudulent practices and breach of contract will be carried out by clients during musyarakah financing. This text also aims to explore how the implementation of risk management can reduce the risks that will occur in the PT. BPRS Haji Miskin Pandai Sikek is a microfinance institution that aims to provide services to the underprivileged population in the Sikek area. In this study, the qualitative method was chosen by the author as the approach that will be used to carry out their research. In this paper, the author uses two types of primary data. Initially, primary information will be obtained directly from primary sources, such as written records and direct observations at the research site. Furthermore, primary information will be obtained through library studies or by referring to relevant books on Islamic banking and related subjects. In this study, the analytical method was used by the researchers. Based on the study, it was reported that fraud and default by customers in musyarakah financing present two types of risks, namely financing risk and operational risk. The implementation of risk management in musyarakah financing will be carried out by a specific PT company. In order to implement the precautionary principle, BPRS Haji Miskin Pandai Sikek utilizes the standard operating procedure (SOP) instructions that have been decided. The risk management process includes four stages, namely risk detection, risk assessment, risk management, and risk monitoring. The principle of the five Cs (character, capacity, capital, collateral and condition of economy) is used in this process.