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All Journal Contemporary Islamic Law and Legal Issue
Asep Koswara
Sekolah Tinggil Ilmu Al-Quran As-Syifa

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Digital Muamalah and Economic Fairness: A Socio-Legal Analysis of FinTech Regulation in Muslim Countries Asep Koswara
Contemporary Islamic Law and Legal Issue Vol. 1 No. 2 (2026)
Publisher : Presscience

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63120/islamiclegalissue.v1i2.110

Abstract

This socio-legal study addresses the central problem of economic fairness in digital mu’āmalah, investigating the tension between technological innovation, Sharia compliance, and consumer protection within FinTech regulation in Muslim countries. Employing a qualitative socio-legal methodology that contrasts doctrinal analysis of regulatory texts (OJK, BNM, DSN-MUI rulings) with assumed empirical data (stakeholder perceptions, public reports on consumer complaints), the research critically assesses the efficacy of current regulatory frameworks. The primary scientific finding reveals a "Compliance-Fairness Paradox," demonstrating that while regulations are successful in ensuring structural compliance (e.g., technical avoidance of ribā and gharar), they fail to guarantee substantive economic fairness (Maqāṣid al-Sharī‘ah). This failure manifests as the Socio-Legal Gap, where legally permissible practices, such as high cumulative fees and algorithmic bias, lead to consumer exploitation and debt traps, fundamentally undermining the Maqāṣid objective of Hifẓ al-Māl (protection of wealth). This study concludes that achieving justice in digital finance requires regulatory policy to shift from a rigid formalistic focus on contractual structure to an adaptive, outcomes-based approach that monitors the social consequences and equitability of FinTech practices.
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