IslamicFinance.de

HeiTech Padu Bhd (HPB) has strengthened its presence in Indonesia with the establishment of PT Desa Tech Nusantara to provide a shariah compliant cooperative Baitulmal Wat Tamwil (BMT) system. HPB executive vice president Salmi Nadia Mohd Hilmey said the project serves all cooperative members and the unbanked across Indonesia with multiple transactional items. A memorandum of understanding (MOU) signing ceremony was held to formalise the collaboration. BMT is a single scalable system in the cooperative ecosystem and has the potential to grow exponentially. Indonesia stands at the top of the Asia Pacific region in terms of unbanked population, as three-quarters of its 250 million people are still outside of conventional financial systems.