Sharia Compliance Analysis of Peer-to-Peer Lending Fintech Platforms in Indonesia
DOI:
https://doi.org/10.37812/josse.v4i1.2011Keywords:
Sharia fintech, P2P lending, Sharia compliance, wakalah, qardh.Abstract
This study aims to analyze the level of Sharia compliance in peer-to-peer (P2P) lending fintech platforms in Indonesia and to identify a consistent Sharia compliance model that can be applied. The main issues addressed are whether Sharia-based P2P lending platforms meet the established Sharia compliance standards and how the principles of Sharia are implemented in their operations. The research method used is qualitative descriptive with a case study approach, analyzing regulatory documents, DSN-MUI fatwas, OJK reports, and interviews with industry practitioners and Sharia Supervisory Boards (DPS). The results show that although several platforms have obtained formal Sharia licenses and fatwas, inconsistencies remain in practice, such as the use of contracts with fixed returns and the management of penalties that do not fully comply with Sharia principles. The discussion concludes that an ideal Sharia compliance model includes the substantial use of wakalah bi al-ujrah and qardh contracts, risk management based on tabarru’ funds and blockchain technology, segregation of Sharia and conventional funds, and an active role of DPS in supervision. Furthermore, Sharia financial literacy education and the application of social inclusion principles are crucial factors for the sustainable development of Sharia fintech in Indonesia.
References
Aisah, N., Rizkiawan, I. K., & Sholeha, A. (2024). Atensi masyarakat dalam menggunakan peer to peer lending syariah: Mendorong inklusi keuangan syariah. Journal of Management and Digital Business, 4(1), 54–65.
al Ishaqi, A. M. (2025, March 13). AFSI Dorong MUI Beri Rekomendasi Aturan Bagi Hasil untuk Fintech Syariah. Retrieved 21 July 2025, from Bisnis.com website: https://finansial.bisnis.com/read/20250313/563/1860892/afsi-dorong-mui-beri-rekomendasi-aturan-bagi-hasil-untuk-fintech-syariah
Ambarsari, R., Hartono, 0725026001, & Verlandes, Y. (2023). PENGARUH PROFITABILITAS DAN KEBIJAKAN DIVIDEN DALAM KINERJA KEUANGAN TERHADAP HARGA SAHAM (Studi Pada Bank Himbara Yang Terdaftar Di Bursa Efek Indonesia) PERIODE 2018-2021 (Bachelor, Universitas Islam Majapahit). Universitas Islam Majapahit. Retrieved from http://repository.unim.ac.id/4759/
Andatu, M., & Muti, A. (2025). Analisis Komparasi Hukum Akad Peer to Peer Lending. Jurnal Riset Rumpun Ilmu Sosial, Politik Dan Humaniora, 4(2), 589–606.
Anggraeni, R. (2023, July 2). Daftar 7 Fintech Lending Syariah, Kredit Lancarnya Ada yang 100 Persen. Retrieved 21 July 2025, from Bisnis.com website: https://finansial.bisnis.com/read/20230702/563/1670818/daftar-7-fintech-lending-syariah-kredit-lancarnya-ada-yang-100-persen
Ansori, A., Rahman, F., & niti Purbayudha, M. (2023). Dampak Sosial Peer To Peer Landing Landing Syariah Bagi Pertumbuhan Pelaku Usaha Di Indonesia. JIESP: Journal of Islamic Economics Studies and Practices, 2(2), 142–160.
Ardiansyah, J., & Mustofa, M. (2025). RISK MANAGEMENT IN SHARIA FINANCIAL TECHNOLOGY: Case Study of Peer to peer Lending Financing Model at PT Qazwa Mitra Hasanah. Al-Iqtishadiyah: Ekonomi Syariah Dan Hukum Ekonomi Syariah, 10(2), 67–83.
Ardiansyah, J., & Yazid, M. (2025). Model Mitigasi Risiko Likuiditas pada Fintech Syariah P2P Lending: Liquidity Risk Mitigation Model in Fintech Sharia P2P Lending. LITERA: Jurnal Ilmiah Mutidisiplin, 2(3), 234–244.
Arif, M. (2018). Model Pembelajaran Mandiri Dalam Mengembangkan Kemampuan Belajar Siswa Sekolah Dasar. Journal of Islamic Elementary School, 3(2), 1–7.
Arif, M. (2023). Karya Tulis Ilmiah: Implementasi Chatgpt Dan Manajemen Referensi Menulis. Jambi: PT. Sonpedia Publishing Indonesia.
Arini, A. D. (2024). Legal Literature Review of Peer to Peer Lending in Indonesia: Building Sharia FinTech Ecosystem: Literatur Hukum Peer to Peer Lending di Indonesia: Membangun Ekosistem FinTech Syariah. Az-Zarqa’: Jurnal Hukum Bisnis Islam, 16(1), 36–57.
Asri, N. W., & Alrasyid, H. (2024). PENGARUH FINTECH SYARIAH TERHADAP PENINGKATAN INKLUSI KEUANGAN BAGI PELAKU UMKM (Studi Kasus P2P Financing Syariah di Indonesia). Jurnal Warta Ekonomi, 7(01). Retrieved from https://jim.unisma.ac.id/index.php/jwe/article/view/24372
Azzahidi, M. R., & Parhi, N. Z. (2023). Analisis Kepatuhan Akad Baku Peer to Peer Lending Syariah terhadap Fatwa DSN MUI Nomor 117 DSN-MUI/II/2018 (Studi Kasus pada PT. Qazwa Mitra Hasanah). MANAZHIM, 5(1), 87–107.
Choirul Umam, -. (2023). ANALISIS PENGARUH LITERASI KEUANGAN SYARIAH, PERSEPSI RISIKO, DAN TOLERANSI RISIKO TERHADAP KEPUTUSAN INVESTASI PADA FINANCIAL TECHNOLOGY PEER-TO-PEER LENDING SYARIAH (Other, Universitas Pendidikan Indonesia). Universitas Pendidikan Indonesia. https://doi.org/10/S_EKI_1906041_Chapter2.pdf
Edrus, R. A., Siri, Z., Haron, M. A., & Safari, M. A. M. (2021). Model fitting for Malaysian mortality rate: Comparison of Heligman-Pollard and P-splines smoothing. Journal of Physics: Conference Series, 1988(1), 012094. https://doi.org/10.1088/1742-6596/1988/1/012094
Fathorrozi, A., & Hamzah, M. (2024). Kepatuhan Syariah Pada Fintech Lending Syariah: Analisis Akad dan Implementasinya. Qawãnïn Journal of Economic Syaria Law, 8(1), 84–101.
Fitriani, R. D. (2024). Perlindungan Hukum Terhadap Penyelenggara Financial Technology (Fintech) Lending Syariah (Undergraduate_thesis, UIN K.H. Abdurrahman Wahid Pekalongan). UIN K.H. Abdurrahman Wahid Pekalongan. Retrieved from http://perpustakaan.uingusdur.ac.id/
Haryono, Santoso, H., Farida, A., Irawan, R., & Hendriyadi. (2024). Harta Waris Turunan Perspektip Hukum Waris Islam Studi Kasus di Kampung Adi Jaya Kecamatan Terbanggi Besar Lampung Tengah. Bulletin of Islamic Law, 1(1), 47–58. https://doi.org/10.51278/bil.v1i1.1175
Irawan. (2025, May 20). HMJ PERBANKAN SYARIAH UINAM: ISLAMIC BANKIG OUTDOR STUDY 2025. Retrieved 21 July 2025, from HMJ PERBANKAN SYARIAH UINAM website: https://hmjperbankansyariahuinam.blogspot.com/2025/05/islamic-bankig-outdor-study-2025.html
Iskandar, E., Ayumiati, A., & Katrin, N. (2019). Analisis Prosedur Pembiayaan Dan Manajemen Risiko Pada Perusahaan Peer To Peer (P2P) Lending Syariah Di Indonesia. Journal of Islamic Accounting Research, 1(2), 1–28.
Jannah, E. N. (2024). Analisis Peran Financial Technology dalam Mengembangkan Layanan Keuangan Syariah. Islamologi: Jurnal Ilmiah Keagamaan, 1(1), 303–313.
Kholidah, H., Herianingrum, S., FIanto, B. A., & Rahmawati, I. (2023). Financial Technology (Fintech)-Peer-to-Peer Lending Syariah di Indonesia. Airlangga University Press. Retrieved from https://books.google.com/books?hl=id&lr=&id=AtXbEAAAQBAJ&oi=fnd&pg=PP1&dq=Analisis+Kepatuhan+Syariah+pada+Platform+Fintech+Peer-to-Peer+Lending+di+Indonesia+&ots=fNxKaNbQxj&sig=GUU97XKhl8YaZA3ibhvx-73GJoE
Kintan, Z. H. (2022). “ANALISIS IMPLEMENTASI POJK TERHADAP MITIGASI RISIKO PADA FINANCIAL TECHNOLOGY PEER TO PEER LENDING BERBASIS SYARIAH DALAM MENCEGAH PREDATORY LENDING DAN PINJAMAN BERMASALAH DI ERA COVID-19”(Studi Pada Otoritas Jasa Keuangan Lampung) (PhD Thesis, UIN RADEN INTAN LAMPUNG). UIN RADEN INTAN LAMPUNG. Retrieved from https://repository.radenintan.ac.id/id/eprint/21314
Latifah, F. N., Adriani, N., Ariyanti, N., & Batubara, S. S. (2023). Analysis of MSME Capital Using Sharia Fintech Peer to Peer Lending. Perisai: Islamic Banking and Finance Journal, 7(2), 312–325.
MARTYA, A. S. (2021). ANALISIS MITIGASI RISIKO FINTECH SYARIAH PEER TO PEER LENDING DALAM MENINGKATKAN PENYALURAN PEMBIAYAAN PADA UKM DI INDONESIA MENURUT PERSPEKTIF EKONOMI ISLAM (Studi Pada PT. Alami Fintek Sharia) (PhD Thesis, UNIVERSITAS ISLAM NEGERI RADEN INTAN LAMPUNG). UNIVERSITAS ISLAM NEGERI RADEN INTAN LAMPUNG. Retrieved from https://repository.radenintan.ac.id/id/eprint/16456
Mulyana, I., Maulin, M., Burhanudin, U., & Amany, A. (2025). Sinergi Antara Bank Syariah dan P2P Lending Fintech dalam Meningkatkan Akses Pembiayaan bagi UMKM di Jawa Barat: Analisis Systematic Literature Review (SLR). Jurnal Hukum Ekonomi Syariah, 3(2), 40–45. https://doi.org/10.37968/jhesy.v3i2.960
Nurfuadi, W. (2025). Analisis Manajemen Risiko dalam Pembiayaan Peer-to-Peer (P2P) di Sektor Fintech: Tantangan dan Strategi Mitigasi: Risk Management Analysis in Peer-to-Peer (P2P) Financing in the Fintech Sector: Challenges and Mitigation Strategies. LITERA: Jurnal Ilmiah Mutidisiplin, 2(1), 169–179.
OJK. (2025). Portal Data Otoritas Jasa Keuangan. Retrieved 21 July 2025, from https://data.ojk.go.id/SJKPublic
Rohman, A. N. (2023). Urgensi Pengaturan Fintech Lending Syariah Di Indonesia: Analisis Perlindungan Hukum Bagi Pengguna Layanan. Jurnal Legislasi Indonesia, 20(1), 16.
Safitri, R., & Asnita, D. (2022). Analisis Hukum Syariah Terhadap Bisnis Fintech Peer-To-Peer Lending. Jurnal IAIN LANGSA.
Saputra, A., Rahmawati, R., Ismail, H., Rakhmat, R., & Santoso, H. (2023). Strategi Promosi Produk Rahn pada BMT di Era Pandemi Covid 19:(Studi di BMT Mita Sejahtera Mandiri Bumi Nabung). Margin: Jurnal Bisnis Islam Dan Perbankan Syariah, 49–63.
Silalahi, B. B. S., & Baidhowi, B. (2025). Analisis Hukum Syariah Terhadap Bisnis Fintech Peer-To-Peer Lending doi Indonesia. Media Hukum Indonesia (MHI), 3(2). Retrieved from https://ojs.daarulhuda.or.id/index.php/MHI/article/view/1472
Umardani, M. K. (2021). Analisis Kesesuaian Akad Crowdfunding/P2P Lending (Penggalangan Dana) Syariah Berdasarkan Kepatuhan Syariah Pada AMMANA. ADIL: Jurnal Hukum, 12(1). Retrieved from https://academicjournal.yarsi.ac.id/index.php/Jurnal-ADIL/article/view/1918
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Rita Rahmawati
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
