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ABSTRACT:

Islamic fintech is the latest breakthrough in finance that combines finance and technology using Islamic principles. Opportunities in developing Islamic fintech in Indonesia are also very wide open considering the large population of Indonesia who are Muslims. This research has two main objectives. The first objective of this study is to determine whether there is a difference between Islamic fintech and conventional fintech. The second and third objective is to determine whether Islamic fintech and conventional fintech affect economic growth in Indonesia. Independent T-test analysis is used to test the first objective, while regression analysis is used in this research method to test the second and third objectives. This research is a type of quantitative research. The data used is monthly time series data from January 2019 to December 2022. This research concludes that there are substantial differences between sharia and conventional fintech. This difference is caused by the large difference in the number and scale of sharia and conventional fintech businesses, namely 2%:98%. The impact of sharia fintech on Indonesia's economic growth is very small. The reason is that Sharia fintech in Indonesia is not yet operating optimally due to several obstacles. Apart from that, Indonesia's economic growth is greatly influenced by conventional fintech. This is due to the large number of assets and businesses which contribute 98% of total fintech assets

KEYWORDS:

Islamic Fintech, Conventional Fintech, Economic Growth

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