Ethis Group soars to new heights with its second GIFA Best Islamic Crowdfunding Platform Award

Ethis Groups wins second GIFA award
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Ethis continues to set the standard, as the latest award validates it as a leader and pioneer within the Islamic fintech and Islamic Crowdfunding sectors.

Ethis Group’s multiple crowdfunding licenses, including the latest from Oman, and its various strategic partnerships signal the company’s evolution into a global company 

15 September 2022, Djibouti- Ethical and Islamic investment and social finance platform operator, Ethis Group, recently received its second Best Islamic Crowdfunding Platform award at the 12th Global Islamic Finance Awards (GIFA). Ethis Group’s latest accomplishment takes the pioneer to new heights of excellence, particularly in global Islamic crowdfunding and, more broadly, Islamic fintech. 

Ethis Co-Founder and Ethis Indonesia CEO, Ronald Yusuf Wijaya accepted the award during a ceremony held at Djibouti Palace Kempinski on September 14, 2022. The prestigious GIFA is one of the most highly coveted and respectable market-led awards in Islamic banking and finance that recognises governments, institutions, and individuals who have exhibited outstanding achievements contributing to the sustainability of Islamic banking and finance.

“Back in 2016, when Ethis won this same award for the first time, I was cheering them on with the belief that they would make a dent in the Islamic finance universe. Today, as the Chairman of the board, I am truly proud of our growth, achievements and breakthroughs, which position us very strongly to continue leading and breaking new ground for Islamic fintech globally,” said Daud Vicary, the Chairman of the Ethis Group Board of Advisors. 

The award follows close on the heels of the Group’s recent notable achievements, which include obtaining a crowdfunding license from the Capital Market Authority, the Sultanate of Oman’s regulator to run global crowdfunding activities via EthisX, the first-of-its-kind cross-border Ethical Private Capital Marketplace. With the addition of the new license, Ethis now holds three crowdfunding licenses from three different countries: Malaysia, Indonesia, and Oman. Ethis Group has also received conditional licensing by the Labuan Financial Services for fund management activity.

Notable partnerships include the recently established US$20 million Shariah-compliant co-fund between Ethis Group and Gobi Partners to close by the end of 2022, as well as the establishment of a joint venture with Singapore-based IBF DigiLabs to develop Islamic Value Analytics, an AI-driven data-powered technology to measure, monitor, and magnify positive social and environmental impact against goals set by the Shariah and the United Nation’s SDGs framework.

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Founded in 2014, Ethis focuses on sustainable and impact crowd investments, fundraising and donations. It operates regulated platforms in Malaysia, Indonesia and Oman, has secured soft approvals from regulators in Dubai and Qatar and is currently expanding into several other jurisdictions including Saudi and Turkey. 

As pioneers in Islamic Fintech, the Ethis co-founders also play a significant role in building and leading the Islamic Fintech industry as leaders within the space. Group MD and Co-Founder Umar Munshi is the Chairman of the Islamic Fintech Alliance and Ethis Co-Founder and Ethis Indonesia CEO Ronald Yusuf Wijaya is the President of the Indonesia Sharia Fintech Association.

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Ethis Group operates crowd-investment platforms approved by regulators in Indonesia, Malaysia and Oman.

Our platforms serve ordinary people, high-net-worth individuals, and corporate, and government entities. Ethis built our initial track record from 2016 to 2020 in social housing in Indonesia where our global community of investors from more than 50 countries funded development projects to build close to 10,000 homes. Most recently, we launched EthisX, the cross-border Ethical Private Capital Market Platform. 

Since the onset of COVID-19, we have launched popular new investment products, including short-term, high-yield supply-chain financing projects in Indonesia and equity investment in ‘future tech’ startups in Malaysia. Our social finance marketplace GlobalSadaqah plays a vital role in matching donors and Islamic economy players to better distribute social finance and zakat to NGOs and social enterprises. EthisX aims to address the lack of availability of Shariah-compliant and ethical alternative funding and financing in emerging and developed non-Muslim countries with sizeable enough Muslim populations. 

We exist to #circulategood. Our deep desire to create a more ethical form of finance to uplift humanity has attracted significant finance and community leaders to support our vision and mission.

For more information about Ethis Group, please visit

For media enquiries, please contact: 

Zuhri Yuhyi
Head of Investor Success Team
Ethis Global Sdn. Bhd.

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We operate ethical investment platforms approved by regulators in Indonesia, Malaysia, and Dubai, and also run a charity platform Global Sadaqah serving ordinary people, high-net-worth individuals, corporates and government entities. Best known for crowdfunding impact investments for Indonesian social housing development projects we adhere to the United Nations Global Compact ethical standards and are based on Islamic finance.