The rise of zakat-tech: New apps boost contributions in Indonesia even as regulations lag behind fintech development
BANDUNG – Two new apps were launched this week that will boost Indonesia’s digital payments for the obligatory zakat, even as the national zakat board says there is no specific regulation governing fintech for the sector.
Local unicorn GoJek’s e-wallet launched GoZakat and charity Dompet Dhuafa released its Membangun Ummat Menguatkan Ukhuwah (MUMU) app, both targeting the Islamic social finance contributor.
More Indonesians are turning to fintech via digital platforms and apps to pay their zakat. National Zakat Board (BAZNAS) data reveals the proportion of zakat payments through digital channels increased from 1% in 2017 to 4% of the 8 trillion rupiah ($570.79 million) collected in 2018.
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