Journals Information
Universal Journal of Accounting and Finance Vol. 10(1), pp. 298 - 305
DOI: 10.13189/ujaf.2022.100130
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Issues of Sharia Debt-Based Crowdfunding on Regulations in Indonesia
Afif Noor 1,*, Dwi Wulandari 2, Haniff Ahamat 3, Ismail Marzuki 1, Akhmad Arif Junaidi 1, Mahsun 1
1 Faculty of Sharia and Law, Universitas Islam Negeri Walisongo, Jawa Tengah, Indonesia
2 Faculty of Humanities, Diponegoro University, Jawa Tengah, Indonesia
3 Faculty of Law, National University of Malaysia, Selangor, Malaysia
ABSTRACT
Sharia debt-based crowdfunding is experiencing good growth in Indonesia. Its existence as a financial service institution based on information technology carries high risks such as default risk, misuse of funds, the potential for shadow banking, personal data misuse, risk of Sharia compliance, and risk of consumer protection and dispute resolution. The purpose of this study is to find issues related to Sharia debt-based crowdfunding as a financial service institution that is subject to Sharia principles in crowdfunding regulations in Indonesia. This research is normative juridical research that uses secondary data as research material, including primary, secondary, and tertiary legal materials. The results show that no regulation specifically regulates Sharia debt-based crowdfunding in Indonesia. Financial Services Authority Regulation number 77/2016 as the legal basis for debt-based crowdfunding in Indonesia does not regulate Sharia debt-based crowdfunding as a financial service institution that is subject to Sharia principles and does not regulate legal protection for its consumers. Sharia debt-based crowdfunding must be regulated to protect consumers, both preventive and repressive protection as a manifestation of the rule of law principle adopted by Indonesia.
KEYWORDS
Sharia Debt-Based Crowdfunding, Regulation, Sharia Principle, Customer Protection
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Afif Noor , Dwi Wulandari , Haniff Ahamat , Ismail Marzuki , Akhmad Arif Junaidi , Mahsun , "Issues of Sharia Debt-Based Crowdfunding on Regulations in Indonesia," Universal Journal of Accounting and Finance, Vol. 10, No. 1, pp. 298 - 305, 2022. DOI: 10.13189/ujaf.2022.100130.
(b). APA Format:
Afif Noor , Dwi Wulandari , Haniff Ahamat , Ismail Marzuki , Akhmad Arif Junaidi , Mahsun (2022). Issues of Sharia Debt-Based Crowdfunding on Regulations in Indonesia. Universal Journal of Accounting and Finance, 10(1), 298 - 305. DOI: 10.13189/ujaf.2022.100130.