According to the Wall Street Journal, PayPal and bitcoin have been used for funding Islamic terrorist attacks in Indonesia; the virtual payments were reported to be more difficult to track; the Indonesian Financial Transactions Report and Analysis Center says terrorism financing cases have increased in the country from 12 in 2015 to 25 in 2016. Source
The Cambridge Center for Alternative Finance (CCAF) has released its first report on the alternative finance market, titled, "Africa & Middle East Alternative Finance Benchmarking Report"; the report was created with support from Energy4Impact, UKAid and CME Group Foundation; for 2015 the report cites growth of 59% and a total market of $242 million; Robert Wardrop, executive director at the CCAF says development trends in Africa and the Middle East had a different focus which was on equity crowdfunding and online micro finance as opposed to consumer and business P2P lending in other global markets. Source
In collaboration with Energy 4 Impact, UKAid and the CME Group Foundation, the Cambridge Center for Alternative Finance has released a study on crowdfunding and P2P lending in Africa and the Middle East; Lend Academy provides details of the report in their article; covers 46 countries in Africa and 12 countries in the Middle East, featuring data on 70 alternative platforms. Source
The Dubai Financial Services Authority (DFSA) has announced a consultation process that will begin to set a framework for P2P lending; following the consultation process the regulator is likely to begin issuing licenses for P2P lending businesses; the regulators initiative would provide for a new source of funding for borrowers and would also help to support small businesses. Source
We often hear news about alternative finance in a few main geographies: the the UK and Continental Europe, the US and China....