Digital Revolution Paradigm in Islamic Economy and Finance - - PowerPoint PPT Presentation
Dr. Iwan Pontjowinoto Jakarta, November 2019 Digital Revolution Paradigm in Islamic Economy and Finance Financial Literacy & Inclusivity 51% Adult without bank account: Low financial literacy, despite: 42% due to insufficient fund
Jakarta, November 2019
Jakarta, Nov 2019
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51% Adult without bank account: 42% due to insufficient fund 32% expensive 25% lack of document Low financial literacy, despite: Internet penetration 64% of pop. Mobile internet 36% of pop. Smart phone users 26% of pop.
Jakarta, Nov 2019
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Productive Population Internet Economy Market Size (GMV, $B) Age Millennials CAGR 28%
209 million 233 million 103 million
Indonesia is the largest Muslim country in the world with high growth in middle class
Muslim population 2010 Muslim population 2020 (projected) MAC Muslim 2020 (projected)
The Hijra-bound Millenials Transformed : more religious Seeking religious role models 24% of Middle Class Muslim New Gen-X Muslim Seek halal lifestyle Interdependent future 27% of Middle Class Muslim Husnul Khotimah Seniors Seeking active & halal life Optimizing their assets & skills 8% of Middle Class Muslim
Source: World Bank, BCG and BPS
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Activities Millennials like the most:
Priority in life;
Source: IDN Research Institute – Indonesia Millennials Report, 2019
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Financial Condition: 51.1% of the income is drained for monthly expenses. 10.7% of their income for savings. 6.8% of the income for insurance 5.3% for installments and investment, and 5.3% for donation. Financial products
Source: IDN Research Institute – Indonesia Millennials Report, 2019
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Source: IDN Research Institute – Indonesia Millennials Report, 2019
Starting from culinary and traveling destination, reference to purchase of goods and services are done online Millennials ready for digital era.
Main priorities : 1) Opportunity for self development, 2) feeling comfortable in doing their work, 3) seek to develop creativity further, and 4) have multitasking ability when working Capital for strengthening Indonesia’s economic independence in the future, including creative economy industry.
They are a connected to each other, and through social media: 1) their access to information and friends are going wider, 2) they can voice their opinion through social media, and 3) develop social empathy and solidarity Strong foundation to develop socially responsible businesses.
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Source: IDN Research Institute – Indonesia Millennials Report, 2019
Hijra : Transformed Passion for Learning Culinary & Fashion Self Sufficiency Contributions
Adopt Islamic Values (Maqashid of Sharia) Building new communities The New Modern Quest for better understanding of Islam Delivered in contemporary style Ways to be connected in a community Halal food in fusion fashion Trendy muslim fashion and cosmetics Wants to travel in halal fashion More entrepreneurials Building halal businesses Islamic financing & investment Islam is rahmatan lil alamin Care for a better world clean lifestyle Crowd funding campaign for philanthropy
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Info and location of halal certified food, restaurants, hotels, medical services and other halal services (incl. travel & umrah)
Hijra : Transformed Passion for Learning Culinary & Fashion Self Sufficiency Contributions
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Chat Payment Transact Info Posting Deliver Food Fashion Cosmetic s Pharmacy Agriculture Fishery Farm e-Comm Market place Forwarding Travel & Tourism Transport Business Services Home Services Educ Services Health Services Da’wah Waqaf Zakah Social Security Default Solution Insurance Financial Investment Payment Gateway e-Wallet Crowd Funding Trade Finance P2P Asset Finance Mortgage
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Source: MomentumWorks – Indonesia Fintech Report, 2019
2018 Wakaf 2014 - 2018 Donations : IDR 237.83 Billion Campaign : 11,650 Projects Crowd : 531,353 Persons Purpose
Donations : IDR 84.5 Billion Beneficiaries : 9.223.281 Persons Statistics on Donation
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Crowd : 10.432 Parties Purpose
Statistics on Donation
Market for Innovative Financial Technology will continue to Grow
Challenges in Financial Literacy and Inclusiveness
Abuse in Digital Economy need to be addressed
High potential for Islamic Financing and Philanthropic Crowd-funding
Collaboration, not cut-throat competition
Jakarta, Nov 2019
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Market for Innovative Financial Technology will continue to Grow
Challenges in Financial Literacy and Inclusiveness
Abuse in Digital Economy need to be addressed
High potential for Islamic Financing and Philanthropic Crowd-funding
Collaboration, not cut-throat competition
Jakarta, Nov 2019
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Market for Innovative Financial Technology will continue to Grow
Challenges in Financial Literacy and Inclusiveness
Abuse in Digital Economy need to be addressed
High potential for Islamic Financing and Philanthropic Crowd-funding
Collaboration, not cut-throat competition
Jakarta, Nov 2019
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Market for Innovative Financial Technology will continue to Grow
Challenges in Financial Literacy and Inclusiveness
Abuse in Digital Economy need to be addressed
High potential for Islamic Financing and Philanthropic Crowd-funding
Collaboration, not cut-throat competition
Jakarta, Nov 2019
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Market for Innovative Financial Technology will continue to Grow
Challenges in Financial Literacy and Inclusiveness
Abuse in Digital Economy need to be addressed
High potential for Islamic Financing and Philanthropic Crowd-funding
Collaboration, not cut-throat competition
Jakarta, Nov 2019
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