E-payment platform PayTren aiming to be Indonesia’s first Shariah-compliant mobile P2P lender
JAKARTA – Mobile payment start-up PayTren is awaiting a license from the Financial Services Authority (Otoritas Jasa Keuangan, OJK) to become Indonesia’s first Shariah-compliant mobile peer-to-peer (P2P) lending platform, PayTren co-founder Yusuf Mansur told Salaam Gateway.
“We will soon launch peer-to-peer lending between borrowers and lenders. Indonesia is home to a majority Muslim population so this application will ease most Muslims’ need for capital. We are working with OJK and the national Shariah council (Dewan Syariah Nasional, DSN) to achieve the license,” said Mansur.
PayTren’s P2P operations will fall under new company Danakoo Mitra Abadi that will run the lender separately from the payment platform.
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