Established in 2017, the firm started life as an aggregator for Islamic finance before realizing SMEs in Indonesia needed greater access to funding. While operating, the leaders realized that the existing financial solutions did not pay attention to Sharia law. Realizing the new direction of development, the company has moved from financial aggregation to the field of P2P lending.

The technology used in the ALAMI platform allows it to analyze data that yields high-quality financing with an excellent credibility. The peer-to-peer (P2P) lender has released more than USD7.5 million in financing to SMEs in Islamic countries and is currently looking at raising fresh capital.

ALAMI has worked closely with the National Sharia Board to create business models and operations that are aligned with sharia principles. Additionally, the fintech startup is licensed and regulated by the Otoritas Jasa Keuangan (OJK), Indonesia’s financial services authority.

Sharia is a body of religious law that forms part of the Islamic tradition. It is derived from the religious precepts of Islam and is based on the sacred scriptures of Islam, particularly the Quran and the Hadith.

According to interestingasia.com AND Wikipedia.