Indonesia’s 2020 Islamic fintech financing just below forecast, industry body upbeat about 2021
JAKARTA – Financing distributed by Indonesia’s Islamic fintechs reached 1.75 trillion rupiah ($124.2 million) in 2020, below the 2-3 trillion rupiah forecasted pre-pandemic by the Indonesia crowdfunding fintech association (AFPI).
The growth from 1 trillion rupiah in 2019 to 1.75 trillion rupiah mid-December this year came in spite of the COVID-19 pandemic challenges, AFPI chairperson Lutfi Adhiansyah told Salaam Gateway.
Most of the Shariah-compliant fintech companies have proven to be resilient, said Lutfi, who is also CEO of Islamic fintech company Ammana. Only two of 12 Islamic fintech companies went out of business this year, namely Danakoo Syariah and Syarfi.
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