Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal Dirasah: International Journal of Islamic Studies
Murni Nia
Halu Oleo University
Religion Arts Humanities

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
The Sharia Paradox: Formal Islamic Banking, Financial Exclusion, and the Rise of Digital Usury in Post-Qanun Aceh Fauzah Nur Aksa; Murni Nia; Herinawati Herinawati; Tri Widya Kurniasari; Yeyen Subandi; Andre Kussuma Adiputra
Dirasah International Journal of Islamic Studies Vol. 4 No. 2 (2026): Islam, Human Development, and Social Change
Publisher : Perkumpulan Dosen Tarbiyah Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59373/drs.v4i2.117

Abstract

The formalization of Islamic finance in Aceh under Qanun No. 11 of 2018 transformed the province’s formal financial system and strengthened the institutionalization of Sharia-compliant financial practices. Yet the extent to which this formalization provides practical financial inclusion for vulnerable groups remains insufficiently understood. This study examines how grassroots communities and micro-enterprises experience access to formal Islamic financing and how these experiences relate to illegal digital lending. Using a qualitative field-study design, the research was conducted in selected suburban communities in Aceh Besar and Pidie through semi-structured interviews with 18 informants and institutional stakeholders, focus group discussions, and documentary analysis. The findings indicate that formalizing Sharia finance has not necessarily ensured practical financial inclusion. Collateral requirements, administrative procedures, repayment-capacity assessments, and mismatches between formal financing mechanisms and informal economic activities constrained access for some vulnerable borrowers. These conditions were associated with a financing gap in which illegal digital lending emerged as an accessible, albeit problematic, source of liquidity. Borrowers remained aware of the religious concerns surrounding interest-based lending, while their accounts are interpreted through ḍarūrah as a lens for understanding financial decisions made under perceived necessity. Drawing on Merton’s structural strain theory, the study conceptualizes this tension as the Sharia Paradox and extends anomie theory into the analysis of Islamic financial governance.
Co-Authors Andre Kussuma Adiputra Fauzah Nur Aksa Herinawati Herinawati Subandi, Yeyen Tri Widya Kurniasari