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All Journal Journal of Modern Islamic Studies and Civilization Indonesian Journal of Islamic Economic Law
Bachtiar, Muhammad Harsya
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Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences Other

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Use of the Flip Application in Fintech Transactions from an Islamic Economic Perspective: Wahdah Islamiyah Cadre Flip User Study Bachtiar, Muhammad Harsya; Hamzah, Nasir; Siradjuddin, Siradjuddin; Kadir, Amiruddin
Journal of Modern Islamic Studies and Civilization Том 2 № 01 (2024): Journal of Modern Islamic Studies and Civilization
Publisher : PT. Riset Press International

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59653/jmisc.v2i01.328

Abstract

The development of financial technology (fintech) has given rise to various financial service applications, including the Flip application. Flip provides a variety of technology-based financial services, such as interbank transfers, buying credit, and E-Wallet top-ups. The Flip application is widely used by the general public, including cadres of the Wahdah Islamiyah mass organization. This research examines fintech transactions from an Islamic perspective, tracing fintech contracts in the Flip application, and the views of Wahdah Islamiyah cadres regarding the use of the Flip application in fintech transactions from an Islamic economic perspective. This research uses qualitative methods with descriptive analysis and a grounded theory approach. Observation, interviews, and documentation all played a role in the data collection process. The results of this research show that: 1) in Islamic terms, fintech is something that is permitted as long as it is free from prohibited elements such as usury, gharar, maysir, tadlis, dharar, zhulm, and haram. 2) Fintech contracts in the Flip application are wakalah, wakalah bil ujrah, and bay' (buying and selling) contracts, which are basically permitted. 3) Flip users among Wahdah Islamiyah cadres view that Flip services such as interbank transfers, credit purchases, and E-Wallet top-ups are in accordance with Islamic economic principles because they are free from usury, gharar, and dharar and contain maslahah and taysir (convenience). Implications of this research: 1) The socialization of Islamic economic principles in fintech-based financial services is needed. 2) can develop research on other fintech features of the Flip application.
The Comparative Analysis of the Hiwalah Fatwa between Indonesia and Malaysia: دراسة المقارنة : الحوالة في ضوء فتوى الهيئة الشرعية الوطنية لمجلس العلماء الإندونيسي ولجنة الإفتاء بالولايات الفدرالية الماليزية Risdayani, Risdayani; Bachtiar, Muhammad Harsya; Ahyarudin, Ahyarudin
Indonesian Journal of Islamic Economic Law Vol. 1 No. 2 (2024): Indonesian Journal of Islamic Economic Law
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/ijoel.v1i2.5507

Abstract

The objective of this study is to examine the differences and similarities in the application and interpretation of the fatwa on hawalah contracts between the Indonesian Ulema Council and the Malaysian Fatwa Committee. The research methodology employed in this study is qualitative research, employing a comparative approach. Following the collection of data from fatwas, books, and other literature, the data is subjected to inductive analysis in order to yield the results of this study. The analysis of similarities and differences, as well as compatibility with Islamic law, conducted between the DSN-MUI fatwa and the Regional Mufti of Biscotuan's fatwa on hawalah has led to the following conclusions: DSN Fatwa No. 12/DSN-MUI/IV/2000: The aforementioned fatwa is in accordance with Shariah principles as it fulfils the elements and conditions of hawalah without an increase in rent or profit. Fatwa No. 58/DSN-MUI/V/2007: The aforementioned instrument is not fully compliant with Shariah principles because it allows for the imposition of fees in the context of a pending hawalah transaction, which may potentially lead to riba. In contrast, the Mufti of Persekutuan Province has issued a fatwa that is compatible with Shariah principles. This fatwa ensures that hawala transactions are only between two parties with a debt-to-debt relationship and that no fees are charged. Consequently, the instrument avoids the imposition of usury. In this context, the fatwa of the Pijapat Persekutuan Mufti is more rigorous in maintaining compliance with Sharia principles, particularly in preventing usury. Although Islamic financial institutions recognise hawalah as a practical necessity, they must exercise caution to ensure that they do not contravene the fundamental Shariah principle of prohibiting usury.
Co-Authors Ahyarudin, Ahyarudin Kadir, Amiruddin Nasir Hamzah Risdayani, Risdayani Siradjuddin, Siradjuddin