THE RELEVANCE OF HARAM-HALAL PERSPECTIVES IN FINANCIAL TECHNOLOGY LAW IN INDONESIA

Abstract

Technological advances have had many impacts on people's lives, including in the economic world. Financial Technology is the result of technological advances that affect the world of credit. However, there is no law that regulates fintech. This has resulted in many consumers being harmed in fintech agreements, this can be seen in various cases of cyber bullying caused by the failure to pay the debt of a consumer using fintech services. In this regard, this article aims to analyze consumer protection in the development of fintech. This article uses the sociological juridical method. Based on the research conducted, it was found that the implementation of fintech is often used as a cover for fraud supported by cyber bullying. The factors that influence the implementation of debtor protection when they are unable to pay their debts to financial technology institutions are the overlapping rules, the lack of reach of law enforcement in cases of fraud under the guise of financial technology institutions, and the influence of globalization which has resulted in the growth of financial technology institutions becoming increasingly unstable under control. It has been explained previously that incomplete regulations related to fintech have resulted in an increasing number of fraudulent crimes under the guise of fintech which has caused a lot of unrest in the community, the problem stems from the lack of clarity in fintech agreements, especially regarding the approval and protection of debtors in fintech agreements. This is clearly contrary to the terms and qawa'idul bai' relating to the sale and purchase agreement or the use of financial services above, especially the mandatory requirement for the buyer to sell goods clearly and clearly, not aiming to make profits by doing hillah ( deceit), so it is classified as bai'tawarruq which was forbidden by the Prophet.