{ "success": true, "data": { "id": 1814926, "msgid": "fiqh-muamalah-and-the-challenges-of-indonesias-digital-economy-1782031906", "date": "2026-06-21 15:02:15", "title": "Fiqh Muamalah and the Challenges of Indonesia's Digital Economy", "author": "Retizen", "source": "REPUBLIKA", "tags": "", "topic": "Economy", "summary": "The rapid growth of Indonesia's digital economy, encompassing e-commerce, paylater services, and cryptocurrency, presents new challenges from the perspective of Islamic jurisprudence. Key concerns include the presence of riba (usury) in paylater schemes, gharar (uncertainty) in online transactions, and the exploitative nature of illegal online loans. The article argues for a collaborative effort between government, scholars, and industry to ensure financial innovation aligns with sharia principles of justice and public welfare.", "content": "

The advancement of digital technology has transformed how Indonesians\nconduct economic activities. Transactions once done face-to-face have\nnow shifted to digital platforms via e-commerce, fintech services,\ndigital wallets, paylater facilities, and even crypto assets. Easy\naccess, time savings, and broad market reach have made the digital\neconomy grow rapidly and become an essential element of contemporary\nlife. In Indonesia, the growth of the digital economy has positively\nimpacted national economic progress. Micro, small, and medium\nenterprises (MSMEs) have greater opportunities to sell their products\nwithout geographical limitations. The public also finds it easier to\ncarry out financial transactions, payments, or investments using only\ndigital devices. However, behind these conveniences, new problems have\nemerged that need to be examined from the perspective of fiqh muamalah.\nFiqh muamalah is the part of Islamic law governing human interactions in\neconomic and social fields. Its main principle asserts that all forms of\ntransactions are basically permissible as long as they do not contradict\nsharia rules. This principle is known as al-ashlu fil mu\u2019amalat\nal-ibahah. However, a transaction becomes forbidden if it contains\nelements of riba (usury), gharar (excessive uncertainty), maysir\n(gambling), injustice, or practices that harm one party. One rapidly\nadvancing phenomenon in the digital economy is the paylater service.\nThis facility allows customers to obtain goods first and pay later.\nAlthough offering convenience, some paylater services charge interest or\nadditional fees that may contain riba. In fiqh muamalah, predetermined\nadditional fees fall into the category of riba, which is prohibited in\nIslam. Additionally, the rise of illegal online lending practices has\nbecome a serious issue. High interest rates, excessive penalties, and\ninhumane collection methods indicate elements of exploitation and\ninjustice. Islam teaches that every transaction must be based on\nfairness and must not harm another party. Therefore, illegal online\nlending practices are not in line with the teachings of fiqh muamalah.\nOther problems also arise in e-commerce transactions. Many consumers\nreceive goods that do not match the description, image, or promised\nquality. This lack of clarity can lead to gharar, or uncertainty, in the\ntransaction. Although many digital platforms have provided consumer\nprotection systems, transparency and honesty remain the primary\nprinciples that must be upheld. The development of cryptocurrency has\nalso sparked debate among scholars and academics. Some view crypto\nassets as an innovation in the modern financial system, while others\nargue that extreme price fluctuations and speculative activities within\nit contain elements of maysir and gharar. Therefore, the use of crypto\nassets remains a subject of discussion in contemporary fiqh muamalah.\nThe application of fiqh muamalah in the digital economy faces several\nchallenges. Rapid technological advancement is often not matched by\nadequate regulation. Meanwhile, public literacy in sharia finance\nremains relatively low, so many consumers do not understand the\ndifference between sharia-compliant and non-sharia-compliant\ntransactions. The dominance of conventional financial services and the\nlimited innovation of sharia-based digital products also hinder the\ndevelopment of a sharia digital economy. To address these challenges,\ncollaboration between the government, regulators, academics, religious\nfigures, and industry players is needed. Efforts to improve\nunderstanding of sharia finance must be carried out continuously so that\nthe public realises the importance of transactions that adhere to halal\nand fair principles. Furthermore, the development of sharia-compliant\nfinancial technology must be encouraged by applying contracts that align\nwith Islamic guidelines, such as murabahah, mudharabah, musyarakah, and\nijarah. Flexible regulation is essential to ensure that technological\nprogress aligns with sharia values. The role of religious figures and\nacademics is crucial in providing fatwas, research, and studies on\nvarious evolving digital economy issues. Supervision of illegal online\nlending practices and other harmful transactions must also be\nstrengthened. The digital economy is an inevitable part of the evolution\nof the times. In the view of fiqh muamalah, innovation in transactions\nis fundamentally permissible as long as it does not contradict sharia\nprinciples. Therefore, the main challenge is not to reject technological\nprogress, but to ensure that this development remains within the\nboundaries of justice, public benefit, and Islamic values. If technology\nand sharia principles can go hand in hand, the digital economy will not\nonly serve as a tool for economic growth but also as a means to achieve\nwelfare and social justice for Indonesian society.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/fiqh-muamalah-and-the-challenges-of-indonesias-digital-economy-1782031906", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }