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Stakeholders Work to Promote Digital Sharia Economy in Indonesia Through promoting the services in Indonesia, Islamic fintech and finance institutions announced their goal of improving the community’s awareness of the digital sharia economy. The potential of the society in the industry was considered. A BWI survey showed that Indonesians only reached up to 50.4 on…
Online Payment Platforms Help SMEs Go Digital With the rapidly increasing adoption of a cashless system, McKinsey’s management consulting firm said that online payment platforms would help small and medium enterprises (SMEs) go digital. In the 2020 McKinsey Global Payments Report, the cash usage across the world had declined by as much as 45 percent…
Fintech Player Extends Loans to Help Retail Supply Chain AwanTunai, a financial technology (fintech) company in Indonesia, helps the retail supply chain survive the coronavirus pandemic as various sectors shift to digital. The company is lending to startups and micro, small and medium enterprises to finance their digital transformation. It has disbursed RP 407 billion…
Indonesia Boosting Financial Literacy to Reduce Unbanked Population According to a study, Indonesia is battling with low financial literacy, which leads to a significant portion of its population being unbanked or not financially included. A survey conducted by the Financial Services Authority in 2019 revealed that the financial inclusion rate in Indonesia was only 76.1…