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Hijra: An Indonesian Fintech and Islamic Finance Innovator

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Dima Djani, a career investment banker, along with his co-founders established Hijra, an Indonesian fintech startup, with the aim of providing the masses access to Islamic finance tools through technology. What started as an idea for an MBA startup competition has now emerged as a leading integrated Islamic fintech firm. While focused on growth, Hijra also remains committed to reflecting proper Islamic finance principles in its products. Additionally, the company is dedicated to ethical finance and improving financial literacy in a market with a high proportion of unbanked or underbanked individuals. The founders must consider how to balance their commitment to Islamic finance and navigate potential regulatory uncertainty, while also continuing to grow in a meaningful way.

Learning Objective:

To introduce students to Islamic finance through the experience of a growing Indonesian fintech start-up. Students will gain a greater understanding of Islamic finance and how technology is used to serve this important market. Students will also be exposed to aspects of ethical finance and how a start-up strives to maintain its purpose as it grows. Additionally, students will consider how new ventures balance growth versus regulation in an environment where regulations are still emerging.    

Year of Publication: 2024
Ref. No.: 24/786C
Discipline: Finance & Investments, Social Enterprises & Ethics
Industry: Banks & Diversified Financials, Software & Services
Country: Indonesia
Company: Hijra
Languages: English
Pages of Text: 9