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QRFM (US$3.439). The projects cover the donation for the victims of natural catastrophes and the underprivileged SMEs
12,4 startups. Meanwhile in DanaSyariah, the detail of its projects was unreachable due to the informational disclosure
factor. In short, with the fundamental infaq,
waqf and sadaqah aims at lowering disparities, one may agree to see the fi nding from Ammana as its effort in
actualising the notion of inequalities reduction (SDG 10).

364 5. Conclusion and recommendation
Returning to our question “ how does Islamic fi ntech P2P lending promote the SDGs in the context of Indonesia? ”, from
the author ’ s attempt as above, it is now possible to claim that the
fi rms ’ fi nancing the underdeveloped sector may best answer this raised inquiry. The fi ndings from reviewing the
selected fi rms, to an extent, can help us understand the way technology has been adopted in the fi nancial services,
and in what way the fi ntech fi rms have been funding the unbanked population and the underdeveloped sector. In this
regard, it is evident that the sampled Islamic P2P fi ntech lending in Indonesia has been fi nancing SMEs, agriculture
sector, and conducting charity programmes for disadvantaged groups. In some degree, these fi ndings may be
synonymous of the Islamic fi ntech efforts in endorsing the SDGs implementation in Indonesia. This study is among
the pioneers which substantively con fi rm the role of fi ntech

fi rms in promoting SDGs. Nevertheless, the present evidence by no means introduces a positivist generalisation of
the subject matters. Besides, these fi ndings in one point can best challenge the social issue of fi ntech in the local
context, which has been stigmatised to produce
mafsadah, as massively campaigned by the local Islamist group.
Furthermore, some relevant recommendations are applicable to both regulators and academics. In this, as Sachs
et al. ( 2018) reported the decreasing trend in Indonesia ’ s performance on SDG 15 (life on land); thus, it is
advisable for the government to legally engage with the existing fi ntech fi rms and other related stakeholders to
address this vital issue. In addition, future work may further use other qualitative methods, for example, an
interview with the experts, to validate the present fi ndings and establish more evidence about Islamic fi ntech
and its contribution to the SDGs implementation.

References
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