Home Fintech OJK Encourages Use of Fintech to Develop MSME and Sharia Finance

OJK Encourages Use of Fintech to Develop MSME and Sharia Finance

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JAKARTA, NNC –  The Financial Services Authority (OJK) encourages the use of financial technology (fintech) as a platform of financial inclusion in improving access to funding for the MSME and Islamic Finance segments while continuing to mitigate risks in order to prioritize consumer protection.

This was conveyed by the Deputy Chairman of the OJK Board of Commissioners Nurhaida at the opening of the seminar of OJK Fintech Talk “Utilizing Fintech as a Platform for Platform for Enhancing SMEs and Islamic Financing” in Bali, Friday (10/12/2018).

According to Nurhaida, fintech has a high penetration rate that can reach various levels of society, especially for segments that do not have broad access to finance such as micro, small and medium enterprises (MSMEs).

“Fintech has a large penetration power that can reach all walks of life, especially those who do not have the right financial access and for MSMEs,” Nurhaida said.

Considering low penetration of Islamic finance in Indonesia, fintech can also be used as a tool to expand the scope of Islamic finance and achievements to achieve Islamic financial goals.

“With its easier services and products, fintech can push the Islamic finance industry forward and overcome problems that have hampered the growth of Islamic finance,” she said.

To support the development of fintech, OJK has issued various regulatory and supervisory provisions while maintaining consumer protection and maintaining financial stability.

OJK has also established the Fintech

Source: EN

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