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All Journal Al-Risalah : Jurnal Imu Syariah dan Hukum AL-Daulah Jurnal Al-Qadau: Peradilan dan Hukum Keluarga Islam DIKTUM: Jurnal Syariah dan Hukum SAMARAH: Jurnal Hukum Keluarga dan Hukum Islam Pusaka : Jurnal Khazanah Keagamaan Siyasatuna Jurnal Ilmiyah Mahasiswa Siyasah Syariyyah El-kahfi : Journal of Islamic economics Devotion: Journal of Research and Community Service Shautuna: Jurnal Ilmiah Mahasiswa Perbandingan Mazhab AHKAM : Jurnal Hukum Islam dan Humaniora Media Hukum Indonesia (MHI)
Musyfikah Ilyas, Musyfikah
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Religion Arts Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Regulatory Disharmony Paradigms and Patterns in Islamic Finance: Integrative Strategy for Islamic Law-Based Transformation Affandi, Ahmad Zulkifli; Kurniati, Kurniati; Ilyas, Musyfikah
Devotion : Journal of Research and Community Service Vol. 6 No. 12 (2025): Devotion: Journal of Community Research
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/devotion.v6i12.25586

Abstract

This study aims to analyze the patterns of regulatory disharmony in Indonesia’s Sharia digital economy and propose an integrative harmonization strategy based on Islamic law principles to strengthen institutional synergy, legal certainty, and sector competitiveness. This normative-juridical research employs a qualitative descriptive-analytical approach, using secondary data from laws, regulations, fatwas, official reports, and academic literature. Data were analyzed through content and thematic analysis to identify regulatory gaps and formulate policy recommendations. The study identifies four main patterns of disharmony: (1) delayed DSN-MUI fatwas on fintech innovations, (2) dual OJK-BI authority in bank-fintech supervision, (3) unclear regulations on blockchain and smart contracts, and (4) vulnerability to Sharia-based fraud. These issues stem from weak coordination among OJK, BI, DSN-MUI, the Ministry of Cooperatives, and the Ministry of MSMEs. Regulatory harmonization is essential to unlock the full potential of Indonesia’s Sharia digital economy. An integrative strategy involving a Regulatory Harmonization Task Force, an integrated information system (SITRFES), joint SOPs, and a phased implementation roadmap (2026–2031) is proposed to enhance coordination, accelerate innovation, and ensure Sharia compliance. The findings offer actionable insights for policymakers and regulators to strengthen cross-institutional synergy, improve legal certainty, and position Indonesia as a resilient and competitive global hub for Islamic finance. Lessons from Malaysia’s BNM-SAC model and the UAE’s DFSA-HSA framework provide valuable benchmarks for implementation.
Co-Authors Affandi, Ahmad Zulkifli Amin, Abd. Rauf Muhammad Arafah, Sitti Ardiansyah, Rahman As. Rakhmad Idris, As. Rakhmad Ayu, Nurelvia Trisna Bustan, Yazidul Damayanti, Fina Erlina Erlina Fadli Andi Natsif Ferdiansyah Ferdiansyah hidayat stang, Rahmat Ihkhsan, Muh Istiqamah Jadil, Rara Mukarramah Jannah, Rihul K, Kurniati Kara, Siti Aisyah Kurniati Kurniati Magfirah, Nurul Izzah Marilang Marilang, Marilang Melinasari, Oltry Noranisa, Noranisa Nurahmad, Nurahmad Reza Ardiansyah Saeful Bahri Sahrul, Muhammad Rifky Akbar Saputra, Ilham Siti Aisyah Syafruddin, Wafiq Arizah Ya'rif, Muhammad