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Journal : INTERNATIONAL JOURNAL OF CULTURAL AND SOCIAL SCIENCE

ANALYSIS OF THE IMPACT OF ONLINE LOANS ON USERS FROM AN ISLAMIC ECONOMIC PERSPECTIVE IN MEDAN CITY Nazmi, Luthfiah; Batubara, Maryam; Bi Rahmani, Nur Ahmadi
International Journal of Cultural and Social Science Vol. 6 No. 4 (2025): International Journal of Cultural and Social Science
Publisher : Pena Cendekia Insani

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53806/ijcss.v6i4.1225

Abstract

This study examines the phenomenon of the growing use of online loans in Medan City within the context of the digital economy, viewed from the perspective of Islamic economics. The rapid expansion of application-based lending services has generated various social and economic impacts, particularly in fostering consumerist behavior and creating discrepancies with Islamic financial principles. The objectives of this research are: (1) to identify the factors that drive people to use online loans, (2) to analyze the economic and social effects arising from their use, and (3) to evaluate the conformity of online lending practices with the principles of Islamic economics. This research employs a qualitative descriptive approach, with data collected through in-depth interviews, non-participant observations, and documentation involving 6-10 users of online lending services in Medan City. Data analysis was conducted inductively by interpreting the meanings and experiences of users in light of maq??id al-syari’ah principles. The results reveal that easy access, fast processes, and urgent financial needs are the main factors encouraging people to use online loans. However, high interest rates, late payment penalties, and unethical debt collection methods have caused significant economic and social pressures. From the perspective of Islamic economics, such practices contain elements of riba (usury), gharar (uncertainty), and zulm (injustice), which contradict the Islamic values of fairness, balance, and blessing. This study contributes empirically to strengthening Islamic financial literacy and encourages the development of fintech regulations that align with Islamic ethical values.
Co-Authors Adha, Raju Adlia Yuannisa, Rizka Afifa, Adinda Agnesia, Inge Ahmadi Bi Rahmani, Nur Ahmarani, Putri Aini, Zahratun Al Masri, Anas Zahir Almasri, Anas Zahir Almi, M Fikri Amanda, Reydina Pasya Anantha, Agung Andiyanto, Sakti Andrean, Piter Andri Soemitra Anggraini, Sheila Annisa Khumaira Anshari, Habilla Arianti, Alya Ariska, Ella Arnanda Marpaung, Taufik Ashaari , Taslam Atika Atika Atikah, Rahmi Awaliyah, Annisa Fitri Azizah, Nurwafiq Batubara, Yennika Bi Rahmani, Nur Ahmadi Br Perangin-angin, Siska Dalimunthe, Muhammad Yunus Dinanti, Egicha Putri Wayuling Dini Anggraini, Dini Fajarillah Sitohang, Sahala Fakhri, Muhammad Hafizhan Febrianda, Annisa Fitra, Teguh Haikal Fitri, Desi Elisa Fitri, Heldia Fitri, Mulyana Gaja, Enita Indramayani Hakim, Muhammad Luqman El Hanafi Hamonangan, Muhammad Harahap, Afni Haryanti harahap, siti khodijah Hasibuan, Indra Mualim Hasibuan, Reni Ria Armayani Hayati Harahap, Salwa Hrp, Khairunnisa Aulia Hsb, Rahmad Raja Martua Hutauruk, Mutia Salwa Isnaini Harahap Ivanka, Meitia Jambak, Putri Andriani Juliana Nasution Khair, Ikhwanul Khairani, Devia Astry Khairunnisa Khairunnisa Kurnia, Ahmad Kusnadi, Hafidah Ayu Lidia, Risa Lubis, Aulia Nurrahmah Lubis, Dian Zahra Syahfitri Lubis, Husnul Khotima Lubis, Ilham Habibi Lubis, Muhammad Azizi Akbar Lubis, Riska Amalia M. Ridwan M. Ridwan Malahayati Malahayati Malasyi, Sibral Marliyah, Marliyah Meivi, Sandrina Muhammad Adam, Muhammad Muhammad Arif Muhammad fauzan Muhammad Lathief Ilhamy Nasution Muhammad Muslim, Muhammad Muhammad Ramadhan Muhammad Ridwan muhammad Syahbudi, muhammad Muhammad Syukri Albani Nasution Muhammad Yafiz, Muhammad Munandar, Arief Mutiara Dewi, Mutiara Najiyah, Chindy Jihan Nasution, Fathiya Syahidah Nasution, Hastiani Nasution, Husairi Muhammad Nasution, Inayatul Widad Nasution, Juliana Nasution, Lis Mawarni Nasution, Muhammad Idris Nasution, Najlah Kholilah Nasution, Rizka Nasution, Silvia Zahra Nasution, Trisna Aulia Husna Nazmi, Luthfiah Ningsih, Nur Widya Nst, M.Yazid Mufhty Nst, Mhd Khairul Anhar Nst, Rivaldi Ahmad Nuraisah Nurlaila Nurul Hasanah Nurul Inayah Okta Distira, Muhammad Feri Oktadistira, Muhammad Feri Pasi, Kurnia Utami Pinem, Syukri Aiman Pranoto, Jiko Pratama, M. Aldi PUTRI WAHYUNI Rafiqoh Lubis, Nurul Rahma, Aulia Rahma, Maulida Rahmani, Nur Ahmadi Bi Rahmi Syahriza, Rahmi Ramadhana, Rizki Rambe, Salsabila Ramlan, H. Rangkuti, Laila Rahmayuni Ritonga, Bunga Dwi Fani Rivai, Andri Rokan, Mustafa Kamal Romadhoni, Fajri Sabila, Wan Shalah Sabrina, Tri Wina Saharah Piliyang, Riza Sahmiar Pulungan, Sahmiar Samri Juliati Nasution, Yenni Saparuddin Siregar Saputra, Jaka Saputri, Yuliana Saragih, Nadya Zahwani Sari, Windy Adinda sati, Dea sarah Satrya Mutthaqin, Muhammad Siagian, Riza Rasyid Siagian, Salsabilla Siburian, Nelsi Agustina Silviany, Ratih Sirait, Fitri Haraya Sirait, Frida Yanti Siregar, Eva Syahrida Siregar, Safa Maisyarah Sitepu, Fatiya Febina Sitompul, Gandhi Sulaiman Suwitra, Irshadi Fariz Syabatullah, Suryadi Syahputra, Zulian Tambak, Ayub Tanjung, Ahmad Fuadi Taufiq Taufiq Tho’in, Muhammad Tobing, Iqbal Fahri Ujung, Siti Khoiriyah Karina Wati, Patma Wulandini Sagala, Putri Yuannisa, Rizka Adlia Yulia Febrianti Yuni Lubis, Syafrina Yusrizal Yusrizal Zahrina Dharmawan, Annisa Zayanti, Cindy Aulia