Indonesia’s Islamic fintechs disbursed five times more financing in 2019 - industry body
JAKARTA – Indonesia’s Shariah-compliant fintechs posted solid growth in 2019, disbursing five times more financing on average to reach nearly 1 trillion rupiah ($72.66 million) combined, Ronald Yusuf Wijaya, chairperson of the Indonesia Syariah Fintech Association (AFSI) told Salaam Gateway.
Official numbers for the whole of 2019 are not yet available from the Financial Services Authority (OJK) but total fintech conventional and Islamic lending up to November 30 was 74.54 trillion rupiah ($5.44 billion) from around 20 trillion rupiah in 2018, according to the authority.
In the Islamic sector, the five platforms with the highest growth financing volume, out of 12 licensed entities, are Dana Syariah, Ammana, Alami, Investree Syariah, Ethis Crowd and Kapital Boost, Ronald said.
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