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p-Index From 2021 - 2026
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All Journal Al-'Adalah
Widianto, Rahmadhani Nur
Unknown Affiliation
Religion Law, Crime, Criminology & Criminal Justice

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Analysis of Legal and Sharī’ah Risks in Islamic Fintech Peer-To-Peer (P2P) Financing in Indonesia Karimah, Iffah; Wirdyaningsih; Kasri, Rahmatina A.; Makarim, Edmon; Widianto, Rahmadhani Nur; Syahrul, Achmad Sultan Richard; Ahmed, Habib
al-'adalah Vol 23 No 1 (2026): Al-'Adalah
Publisher : Universitas Islam Negeri Raden Intan Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24042/adalah.v231.29640

Abstract

The rapid growth of Islamic financial technology (fintech), particularly Sharī’ah-compliant peer-to-peer (P2P) financing, has played a significant role in promoting financial inclusion. Islamic fintech possesses unique characteristics and risks due to its compliance with Sharī’ah principles. Sharī’ah risk arises from non-compliance with Sharī’ah principles and is closely linked to legal risk, as such compliance is shaped by the applicable regulatory framework. Although previous studies have examined legal and Sharī’ah risks, limited attention has been paid to their interaction within the regulatory framework governing Islamic P2P financing. Therefore, this study aims to analyze the legal and Sharī’ah risks associated with Islamic fintech P2P financing and to examine the role of regulation in mitigating these risks. This study adopts a doctrinal legal research approach, using a case study of Sharī’ah-compliant P2P financing platforms in Indonesia and employing literature review, leximetric analysis, and content analysis. The findings identify several weaknesses in the existing regulatory framework that may undermine legal certainty and Sharī’ah compliance, and highlight the importance of strengthening regulation, supervisory mechanisms, and Sharī’ah governance as integrated risk-mitigation strategies for Islamic P2P financing. These findings contribute to the development of a regulatory governance framework for the Islamic fintech ecosystem
Co-Authors Ahmed, Habib Edmon Makarim Karimah, Iffah Rahmatina A. Kasri Syahrul, Achmad Sultan Richard Wirdyaningsih