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All Journal Jurnal Hukum Saraswati Jurnal Adijaya Multidisiplin Indonesian Journal of Law and Justice Causa: Jurnal Hukum dan Kewarganegaraan Jurnal Kajian Islam dan Sosial Keagamaan Jurnal Media Akademik (JMA) JURNAL MULTIDISIPLIN ILMU AKADEMIK IURIS NOTITIA : JURNAL ILMU HUKUM PENG: Jurnal Ekonomi dan Manajemen Al Urwah : Sharia Economics Journal Jurnal Kajian Hukum Dan Kebijakan Publik Jurnal Riset Multidisiplin Edukasi Tadhkirah: Jurnal Terapan Hukum Islam dan Kajian Filsafat Syariah Ekopedia: Jurnal Ilmiah Ekonomi Jejak digital: Jurnal Ilmiah Multidisiplin Jurnal Miftahul Ilmi: Jurnal Pendidikan Agama Islam META - JOURNAL Law Research Review Quarterly Sinergi : Jurnal Ilmiah Multidisiplin Journal of Literature Review Jurnal Publikasi Ekonomi dan Akuntansi Jurnal Riksa Cendikia Nusantara
Baidhowi
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Analysis of Sharia Economic Law on the Digital Consumptive Credit Model: the Potential of Usury in Buy Now Pay Later Antika Yuni Arsita; Shofiah Nur Hikmah; Dwi Liza Salsabila; Katon Adin Novaga; Baidhowi
Al Urwah : Sharia Economics Journal Vol. 2 No. 3 (2025): Al Urwah : Sharia Economics Journal
Publisher : Takaza Innovatix Labs Ltd.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61536/alurwah.v2i3.486

Abstract

Advances in digital technology are currently driving the birth of a buy-now pay later-based digital financing model that is increasingly popular in people's consumptive transactions. This scheme offers easy access to financing without a credit card but through a payment deferral mechanism with an additional fee. However, from the perspective of sharia economic law, this practice raises juridical problems related to the potential for usury, especially in the aspect of adding value required for the suspension of payment. This research was conducted using a normative juridical method with a legislative and conceptual approach. The purpose of this study is to analyze and find out whether the financing mechanism in the buy now pay later scheme substantively represents the practice of riba that is prohibited in sharia economic law. In addition, this study also aims to examine how the perspective of Islamic economic law on the transformation of digital consumptive credit based on buy now pay later in the context of financial technology developments. The results of the study show that the buy now pay later scheme does provide easy access to credit for consumers. However, in practice, there is still a potential for elements of riba and gharar that are not in accordance with the principles of sharia economic law. Some buy now pay later platforms have been proven to impose interest and late fines that are substantially contrary to the principle of the qardh contract. Therefore, based on the perspective of sharia economic law, the buy now pay later mechanism needs to be reviewed and adjusted to better reflect the principles of transparency, fairness and balance of the parties so that it can meet sharia compliance standards..
Co-Authors Adilano, Abyan Afrilia Era Vazira Ahmad Haikal Manggabarani Alia, Rahma Amelia Pingkan Nur Fitriana Ananda Viola Maharani Anggitamarta Ratih Nugrahani Anisa Prabowo Antika Yuni Arsita Ayu Fitri Hapsari Ayuk Pebriyani Azzahra, Aulia Beatrice Mauren Delicia Bunga Nirvana Cahyani, Adinda Intan Citra Bethari Ratih Dea Risti Aulia Dwi Liza Salsabila Eka Imroatun Khasanah Ekawahyuni, Nur Aini Ervansyah, Muhammad Azriel Ester Aprilia Diyan Sari Fadhil Citra Darmakusuma Faliha, Nafiza Salsabila Farras Eknu Albin Fathurrohman Nur Hidayat Ferita Maharani Fiana Suryaningtyas Wibowo Fifi Tri Ariani Firdha Apriliana Zahra Hanifah, Aniqah Hilda Fridatul Jannah Irma Juliana Zahwa Ismail, Zakiya Az Zikra Jannata, Salsabila Jelita Tibyana Shidqy Jesiana Naisela Putri Jezkhiel Septryan Jubilate Oppusunggu Kanaia Brahmantia Hermanu Katon Adin Novaga Kurniawan, Alia Herawati Kurniawan, Reggiene Louisa Grace Gloria Hutagaol Luhung Cahya Adi Manalu, Keren Martanto, Arka Hadyan Maulana Habibie Yahya Mella Amanda Nuraini Muhammad Afrizal Habibie Muhammad Faisal Firdaus Muhammad Fathurrahman Muhammad Rizky Firdaus Syahputra Muhammad Zidan Ramadhan Nadia Rizqa Setyaningrum Naila Praba Kirana Nasywa Anindita Alvania Putri Irawan Nathania, Nanda Riesta Nauval Athalah Ramadani Nawa Udlma Aizama Nayla Oktri Ramadhani Nazwa Angrraeni Nia Malvin Faradila Nina Handayani Novita Eka Wardhani Nuraeni, Verlita Nurul Raudatul Auliah Pasaribu, Agnes Octavia Margaretha Putra Sofwan, Muhammad Naufal Putri, Fara Diva Arrum Clarisa Putri, Sherenika Raja Huwaidi Kamil Rendy Aprilio Sulaiman Restu Dimas Surya Pradipta Rikki Jitu Saputra Risqi Budi Santoso Rizky Ramadhani Robitoh Rizqiana Dinova Romauli Yohana Sinaga Ruth Shelomita Lumban Tobing Saputra, Sebastian Burhannudin Satrya Ramadhan Anggara Setya Nugraha, Raihan Maulana Shafira Ramadhani Shely Nayla Putri Shofiah Nur Hikmah Sijabat, Tama Amelia Putri Surya Wira Yudhayana Tania Pakpahan Umala, Moh Vinita, Kezia Rona Widyasputri, Viesta Tya Amanda Wulandari, Arlenne Devillya Yonanda, Intan Zahara, Fuzia ‘Aabidah, Darian Ezra