FINANSIAL TEKNOLOGI SYARIAH & BANK DIGITAL: KENDALA DAN TANTANGAN PENGEMBANGAN FINTECH SYARIAH DI INDONESIA

Abstract

With the development of sharia economy in Indonesia, there are now many fintech companies that use sharia system. This research discusses the regulation of sharia-based fintech and its legal position in Indonesian law. This research is a normative research. The results show that fintech is generally regulated by OJK and BI regulations. For sharia-based fintech, the application of sharia principles only relies on the DSN-MUI fatwa. The lack of specific provisions regarding sharia principles for sharia-based financial technology in OJK and BI Regulations may weaken the obligation to comply with sharia principles. Indeed, the DSN-MUI fatwa itself, given its place in national law, only has binding legal force if it is regulated by legal provisions or if those legal provisions give a special place to the DSN fatwa itself. The government should immediately take binding regulations regarding the application of sharia principles in sharia-based fintech in Indonesia.