Optimizing MSME Financing through Sharia-Compliant Peer-to-Peer Fintech Lending: Challenges and Development Strategies
DOI:
https://doi.org/10.35891/vvkxr976Keywords:
MSME financing, Sharia fintech, Peer-to-peer lending, Islamic financial literacy, Financial inclusionAbstract
Purpose: This study aims to explore the challenges and development strategies in optimizing micro, small, and medium-sized enterprises (MSMEs) financing through Sharia-compliant peer-to-peer (P2P) fintech lending in Indonesia.
Design/methodology/approach: This study employs a qualitative approach by reviewing relevant academic literature, institutional reports, and previous studies, complemented by in-depth interviews with MSME actors and Sharia P2P fintech providers. The data were analyzed thematically to identify key challenges and strategic development opportunities in Sharia-based fintech financing.
Findings: The findings reveal that MSMEs face several major challenges in accessing Sharia P2P fintech financing, including low Islamic financial literacy, limited understanding of fintech mechanisms, and inadequate technological infrastructure. The study also identifies important development strategies, such as enhancing Islamic financial literacy, strengthening regulatory support for financial inclusion, and improving technological accessibility to support MSME participation in Sharia fintech platforms.
Practical implications: The results provide insights for policymakers and Sharia fintech providers in formulating inclusive financing policies and digital financial solutions that support MSME sustainability and growth.
Originality/value: This study contributes to the Islamic finance literature by providing a concise qualitative perspective on the role of Sharia-compliant fintech in expanding MSME financing access in a developing country context.
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