Uplifting Brothers, Islamic Peer to Peer Lending with Cashback

Recently, peer-to-peer (P2P) lending has gained widespread popularity worldwide. However, most of the P2P lending apps are designed to cater for corporate clients' needs and requirements. This paper aims to design a Fintech app for retail customers to re-innovate the traditional lending relationship. The app will ensure that borrower repays only the principal amount, while a profit is being generated by investing installments in Wakala deposits. This approach not only addresses the gap in the current market but also aligns with Islamic financial principles, offering a sustainable and profitable solution for all stakeholders involved. This aligns with Vision 2030 goals as it promotes savings practices, entrepreneurship, innovation, economic diversity, and financial inclusion. A survey was conducted to investigate the characteristics and readiness of retails customers for such a solution.