Mobile payment start-up PayTren is awaiting a license from the Financial Services Authority (Otoritas Jasa Keuangan, OJK) to become Indonesia’s first Shariah-compliant mobile peer-to-peer (P2P) lending platform, PayTren co-founder Yusuf Mansur told Salaam Gateway.
PayTren’s P2P operations will fall under new company Danakoo Mitra Abadi that will run the lender separately from the payment platform.
The five-year-old mobile payment platform claims 1.4 million users in 17 countries, including China, Malaysia, Saudi Arabia, South Korea, and the United Arab Emirates.
PayTren’s soon-to-be launched lending facilities will be based on the cost-plus-profit principle of murabahah.
http://www.salaamgateway.com/en/story/epayment_platform_paytren_aiming_to_be_indonesias_first_shariahcompliant_mobile_p2p_lender-salaam08062017083633/
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