MODEL AND REGULATORY FRAMEWORK FOR SHARIA FINTECH PEER TO PEER (P2P) LENDING IN INDONESIA
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Abstract
The use of financial technology or fintech not only provides benefits for individuals and companies, but also for the economy as a whole. In the Indonesian context, fintech has great potential to increase financial inclusion in society by providing easier and more affordable access to financial services. This can help reduce financial disparities and encourage inclusive economic growth. This research explores the importance of regulation in the context of Fintech Sharia Peer to Peer (P2P) Lending in Indonesia. The focus is on aspects of Islamic finance and community empowerment efforts through the P2P Lending platform. The research methodology used is library research, which involves collecting information from literature such as books, scientific journals and previous research reports. The regulations that are the focus of the research analysis include regulations from Bank Indonesia and the Financial Services Authority (Otoritas Jasa Keuangan/OJK), as well as fatwas from the National Sharia Council-Indonesian Ulema Council (DSN-MUI). Data from these sources is used to make inferences in this research. The research results show that regulations in P2P lending sharia fintech in Indonesia have a very important role. Strong and effective regulations not only provide protection to the community, but also ensure compliance with Islamic finance principles and strengthen community empowerment practices through P2P lending platforms. To support sustainable and inclusive development, it is important for the government and regulators to continue to evaluate and improve existing regulations. This must be done by taking into account the needs and aspirations of all relevant parties, so as to create a conducive environment for the development of P2P lending sharia fintech in Indonesia.
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