Sharia Fintech Has Grown 50 Percent On An Annual Basis

By Lissa | 19 November 2021 11:31:47 | 0 | 0
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The Indonesian Sharia Fintech Association (AFSI) said the development of the Islamic fintech industry continues to increase positively. AFSI Chairman Ronald Yusuf Wijaya said, despite the pandemic, its growth has reached 50 percent on an annual basis.


"Thank God that despite the pandemic and now it has improved, we are seeing very positive developments. As of today the growth of Islamic fintech business is already above 50 percent (yoy)," Ronald said in the Media Briefing of The National Fintech Month 2021, Monday (8/11).


The number of registered, licensed, and registered organizers totals 17 //sharia fintech. Consisting of 10 fintech peer to peer lending, six Islamic fintechs listed in Digital Financial Innovation (IKD), and one fintech securities crowd funding.


He hopes that with the National Fintech Month, the enthusiasm and literacy of the community can be increased towards Shariah services. Ronald is optimistic, this year and next year the Islamic fintech industry can continue to grow positively.


"Actually, since the pandemic there are a lot of fintech players who have to close their operations. But seeing the growing number of new users we see this as an opportunity and potential for industry growth," Ronald said.


Financing recorded in OJK from Islamic fintech also shows an excellent rate of return. As much as 80 percent of it is used for productive financing.


According to him, the growth of MSMEs onboarding in Islamic fintech is also increasingly significant. More and more MSMEs are seeking funding through sharia schemes along with increasing community literacy discussions.


The growth of new users every month is also, he added, very significant. Plus now there will be more and more new players with a strong background so that it becomes a new support system for the industry.


In this BFN, Sharia fintech also provides many programs and promotions. Including accelerator programs that will add support to the industry, especially in terms of talent development of industry players.