Indonesian Ministry of Finance Research on SmartSukuk™

The Indonesian Ministry of Finance released this study of Blossom Finance's SmartSukuk™ fintech which was considered capable of increasing funding for MSMEs as well as increasing the deepening of the financial sector in Indonesia. In its study, the Ministry of Finance also recommended the need to escalate and develop the Smart Sukuk ecosystem to larger financial institutions such as banks, structured funds, government agencies, the private sector, and others, through linkage programs. The linkage program is expected to encourage the development of other financial products and synergize with government programs. The ministry also stressed the importance of issuing regulations to regulate the expansion of the Smartsukuk™ fintech business scheme.