Article Sidebar

Submitted
April 25, 2025
Accepted
June 14, 2025
Published
June 14, 2025
Download
PDF
Statistic
Read Counter : 0 Download : 0

Main Article Content

Abstract

This systematic literature review (SLR) investigates the optimization of sharia-compliant fintech to enhance financial inclusion in Indonesia, guided by Islamic economic principles. Analyzing 36 peer-reviewed articles from 2018 to 2024, the study employs a qualitative approach to explore trends, challenges, and opportunities. Findings reveal that sharia fintech, through innovations like peer-to-peer lending, crowdfunding, and e-wakaf, significantly improves access to financial services for unbanked populations and MSMEs. Key enablers include technological advancements, sharia compliance, and government support, while challenges involve regulatory ambiguity, low financial literacy, and public trust issues. The review underscores the importance of consumer preferences, literacy programs, and integration with sharia microfinance institutions in scaling adoption. Recommendations include robust regulatory frameworks, enhanced digital literacy initiatives, and collaborative ecosystems to ensure sustainable growth. This SLR contributes to the literature by synthesizing insights, identifying research gaps, and offering evidence-based strategies for policymakers and stakeholders to foster inclusive economic development in Indonesia’s digital era.

Keywords

Sharia FintechFinancial InclusionIslamic EconomyDigital Era

Article Details

How to Cite
Said, M. (2025). Optimizing Sharia Fintech for Financial Inclusion in Indonesia in the Digital Era: An Islamic Economic Perspective.: Mengoptimalkan Fintech Syariah untuk Inklusi Keuangan di Indonesia di Era Digital: Perspektif Ekonomi Islam. Balanca : Jurnal Ekonomi Dan Bisnis Islam, 7(1), 47–62. https://doi.org/10.35905/balanca.v7i1.13214
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Adipurno, S. (2025). Peran Ekonomi Digital Islam dan Fintech Syariah dalam Mendukung Masyarakat Lokal. Jurnal Ekonomi Dan Bisnis, 17(1), 52–56. https://doi.org/10.55049/jeb.v17i1.393
  2. Agustina, A. (2023). The Influence Of Fintech On The Development Of Islamic Financial Inclusion In Msmes In Tanak Awu Village. Jurnal Ilmiah Ekonomi Islam, 9(2), 2531–2536. https://doi.org/https://doi.org/10.29040/jiei.v9i2.8777
  3. Alfarizi, M., Hanum, R. K., & Hidayat, S. A. (2021). Optimizing the Use of Sharia Digital Transactions To Sup-Port Indonesia’S Economic Recovery. Jurnal Ilmu Ekonomi Terapan, 6(1), 122–132. https://doi.org/https://doi.org/10.20473/JIET.V6I1.25977
  4. Alika, V. A., Santoso, S., Nurmaliki, S., & Anisa, N. (2021). Marketing Strategy Sharia Financial Institutions to Promote Sharia Fintech and Micro and Small Enterprises (MSES). MICOSS 2020: Proceedings of the 1st MICOSS Mercu Buana International Conference on Social Sciences, MICOSS 2020, September 28-29, 2020, Jakarta, Indonesia, 132. https://doi.org/http://dx.doi.org/10.4108/eai.28-9-2020.2307373
  5. Aminah, S., Erisna, N., Tarmizi, R., & Redaputri, A. P. (2020). The role of fintech and sharia banking industries in increasing economics inclusion in Indonesia. International Journal of Scientific and Technology Research, 9(2), 979–982.
  6. Anggara, M. R., & Nuraeni, N. (2025). Enhancing the Sustainability of Small and Medium Enterprises (SMEs) through Islamic FinTech: A Comprehensive Review of Emerging Trends (2018-2024). Civilization Research: Journal of Islamic Studies, 4(1), 21–37. https://doi.org/https://doi.org/10.61630/crjis.v4i1.50
  7. Devi Yulia, Cory Vidiati, M. N. (2024). The Role of Digital Islamic Economy in Increasing Financial Inclusion in the Fintech Era. Advances In Social Humanities Research, 2(12), 1348–1358. https://doi.org/https://doi.org/10.46799/adv.v2i12.320
  8. Dewi, I. S., & Adinugraha, H. H. (2023). The Role Of Sharia Fintech In Improving Halal Financial Inclusion In Msmes In Indonesia. Likuid Jurnal Ekonomi Industri Halal, 3(1), 18–29. https://doi.org/https://doi.org/10.15575/likuid.v3i1.18693
  9. Dwijayanti, N., Iqbal, M., & Zulfikar, M. (2022). The role of Islamic FinTech P2PL in increasing inclusion and financial literacy of MSMEs. Journal of Islamic Finance, 11(1), 94–101. https://doi.org/10.31436/jif.v11i1.638
  10. Fadillah, A. Z. (2021). Acceleration of Financial Technology Growth towards Inclusiveness of Unbankable Society in Achieving the Vision of the Islamic Banking Roadmap 2020-2025 (Case Study: Generation Z, Jabodetabek). Airlangga International Journal of Islamic Economics and Finance, 4(2), 158. https://doi.org/https://doi.org/10.20473/aijief.v4i2.31434
  11. Fitriyani, Y. (2025). Digitalizing Sharia Fintech: Adapting Islamic Economic Principles for Millennials. Journal of Halal Review, 1(1), 1–11. https://doi.org/https://doi.org/10.70764/gdpu-jhr.2025.1(1)-01
  12. Hehanussa, U. K., & Syarifuddin, S. (2021). The Role of Sharia Fintech in Developing Islamic Economy in the Digital Era in Indonesia. Islamic Economics, Finance, and Banking Review, 1(2), 14–22. https://doi.org/https://doi.org/10.12928/iefbr.v1i2.4753
  13. Kismawadi, E. R., & Irfan, M. (2025). Business Transformation Towards Sustainability: Integration of Islamic Finance Principles in the Global Business Context. In Microfinance, Financial Innovation, and Sustainable Entrepreneurship in Economics (pp. 255–290). IGI Global Scientific Publishing. https://www.igi-global.com/chapter/business-transformation-towards-sustainability/369181
  14. Lutfiah, I. N. (2024). Navigating Between Innovation and Compliance: The Challenges of Sharia Fintech Implementation in Indonesia’s Financial Ecosystem. Demak Universal Journal of Islam and Sharia, 2(03), 211–220. https://doi.org/doi.org/10.61455/deujis.v2i03.130
  15. Menne, F., Surya, B., Yusuf, M., Suriani, S., Ruslan, M., & Iskandar, I. (2022). Optimizing the financial performance of smes based on sharia economy: Perspective of economic business sustainability and open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 8(1), 18. https://doi.org/https://doi.org/10.3390/joitmc8010018
  16. Muryanto, Y. T. (2023). The urgency of sharia compliance regulations for Islamic Fintechs: a comparative study of Indonesia, Malaysia and the United Kingdom. Journal of Financial Crime, 30(5), 1264–1278. https://doi.org/10.1108/JFC-05-2022-0099
  17. Nurbaiti, N., Asmuni, A., Soemitra, A., Imsar, I., & Aisyah, S. (2023). Behavior analysis of MSMEs in Indonesia using fintech lending comparative study between sharia fintech lending and conventional fintech lending. JPPI (Jurnal Penelitian Pendidikan Indonesia), 9(4), 92–99. https://doi.org/https://doi.org/10.29210/020232273
  18. Puput Indriyani, I. M. U. (2025). Peran Fintech dalam Meningkatkan Daya Saing Perbankan Syariah di Era Digital Authors Puput Indriyani. Anggaran: Jurnal Publikasi Ekonomi Dan Akuntansi, 3(1), 74–79. https://doi.org/https://doi.org/10.61132/anggaran.v3i1.1137
  19. Saputra, V. A., Maulana, A. A., & Diniyah, A. (2022). Shafica (Sharia Fintech Campaign): Sharia Fintech Marketing Applications Through Campaign To Accelate The Development Of Sharia Banking In Indonesia (Marketing Islamic Banking Products Through Financial Technology). Airlangga International Journal of Islamic Economics & Finance, 5(1). https://doi.org/https://doi.org/10.20473/aijief.v5i01.37910
  20. Sawitri Yuli Hartati, Emelia Kontesa, A. B. (2023). Sharia fintech in the digital age: Human rights in sharia fintech through criminal law safeguards. IJCLS (Indonesian Journal of Criminal Law Studies), 8(2), 1–15. https://doi.org/https://doi.org/10.15294/ijcls.v8i2.48678
  21. Syahputra, A., Kaswinata, K., Tanjung, H., Rahmani, N. A. B., & Dzuljastri, D. (2023). Globalization & development of Sharia financial technology in Indonesia. Jurnal Ilmu Keuangan Dan Perbankan (JIKA), 13(1), 103–114. https://doi.org/https://doi.org/10.34010/jika.v13i1.11288
  22. Syarifuddin, S., Muin, R., & Akramunnas, A. (2021). The potential of sharia fintech in increasing micro small and medium enterprises (MSMES) in the digital era in Indonesia. Jurnal Hukum Ekonomi Syariah, 4(1), 23–36. https://doi.org/https://doi.org/10.30595/jhes.v4i1.9768
  23. Tanjung, A. F., & Syahriza, R. (2024). Marketing Strategies of Sharia Peer-to-Peer Lending Fintech in Enhancing Sharia Financial Inclusion: A Case Study of PT. Dana Syariah Indonesia. Dinasti International Journal of Economics, Finance & Accounting (DIJEFA), 5(3). https://doi.org/https://doi.org/10.38035/dijefa.v5i3.3082
  24. Wahyudi, H., Tubarat, C. P. T., Rodliyah, N., Kusnadi, A., & Leny, S. M. E. I. (2025). The Nexus of Crowdfunding and e-Wakaf to Islamic Fintech in Indonesia in the Era of Industrial Revolution 5.0. Journal of Ecohumanism, 4(1), 208–219. https://doi.org/https://doi.org/10.62754/joe.v4i1.4657