Lean Technology and Sharia Finance

Lean Technology and Sharia Finance

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As I write this article, hundreds of bright and energetic young minds are developing their ideas to catch the fintech wave. A trend that may be more popular in Western markets.

One of the largest sources of funding for companies in developing markets is banking. However, banking penetration is not as deep as that in the more developed economies, due to limited infrastructure and awareness. This is where financial technologies can play an important role in bridging the demand and supply.

Let's focus on Indonesia, a country with the largest Muslim population of over 250 million. 

The Irony

With around 90% of the country's population being Muslim (~225 million people), Islamic banking penetration is very low. According to EY Islamic Bankin...