ALAMI Sharia: Gen-Z Favorite

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Jakarta, July 3: A recent YouGov study conducted in Indonesia reveals a 28 percent increase in the market share of Peer-to-Peer (P2P) Lending within just six months. Despite post-pandemic economic challenges, this growth solidifies fintech, especially P2P Lending, as an attractive investment option. The Financial Services Authority (OJK) supports this positive response, highlighting the significant improvement in P2P Lending performance. Currently, Indonesia has 102 licensed P2P Lending platforms, including seven Sharia-based platforms.
Over the past six years, the accumulated loans in P2P Lending have reached IDR 528.01 trillion, with an outstanding value of IDR 51.12 trillion as of December 2022. The user base has surpassed 100.8 million, representing almost half of Indonesia’s population. The total assets of P2P Lending fintech amount to IDR 5.51 trillion, with Sharia-based providers contributing IDR 133.64 billion. The non-performing loan rate stands at a relatively low 2.78 percent.
Sharia-based P2P Lending has seen significant growth, contributing 33 percent to the overall expansion of the market in Indonesia. ALAMI Sharia, the largest Sharia-based platform, has outperformed its competitors, experiencing an 11 percent increase in brand awareness and doubling its usage within six months. YouGov’s research indicates that ALAMI satisfies critical factors for users when choosing investment instruments, including licensing and supervision by OJK, transparent information provision, and strong operational performance despite macroeconomic challenges.
ALAMI Sharia has disbursed productive financing exceeding IDR 5 trillion, benefiting over 12,000 financing projects. The platform currently has over 140,000 users, whose support and trust have made these achievements possible. Social media platforms, along with word-of-mouth, serve as effective channels for marketing P2P Lending products and services. ALAMI Sharia consistently provides education and literacy on Sharia-based P2P Lending to enhance public awareness through various initiatives and collaborations with organizations such as OJK and the academic community.
Imansyah, Deputy Commissioner of the OJK Institute, expresses hope for ongoing improvements in P2P Lending fintech’s performance and its positive contribution to financing, particularly for micro and small enterprises (SMEs).

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