Shariah Fintech ALAMI Acquires Indonesian Shariah-Compliant Rural Bank BPRS Cempaka Al-Amin

Indonesian Shariah Fintech peer-to-peer (P2P) lending platform ALAMI Technologies (ALAMI) has acquired Islamic rural bank BPRS Cempaka Al-Amin for under USD 10 million, according to undisclosed sources, as reported in local media.

Why it matters?

The deal will provide BPRS Cempaka Al-Amin with fresh capital in compliance with new rules set by the Indonesian Financial Services Authority (OJK), which mandates that rural banks in Jakarta must have a minimum paid-up capital of IDR 100 billion (USD 6.95 million). ALAMI partners with Shariah-compliant banks to provide invoice financing services for small and medium-sized enterprises in Indonesia.

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