Sharia Fintech Still Lagging Despite Running Fast

Summary

Sharia Fintech had distributed financing of US$ 73.18 million (Rp 1 trillion) at the end of 2019. The Indonesian Sharia Fintech Association (AFSI) Chairman Ronald Wijaya said there was an average increase of 300-400 percent when compared with 2018.

Therefore, AFSI is optimistic sharia fintech would score a quadruple growth to US$ 329 million (Rp 4.5 trillion). Up to now, Ronald said 11 sharia fintech firms are registered as P2P lending, but only two of them have secured a permit.

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