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p-Index From 2021 - 2026
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All Journal Jurnal Al-Dustur Lex Scientia Law Review Indonesian State Law Review (ISLRev)
Azmi, Muhammad Fazli
Unknown Affiliation
Arts Humanities Law, Crime, Criminology & Criminal Justice Social Sciences

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Digital Economy Regulation and Consumer Rights Protection: Realizing Security in Financial Technology Transactions Noor, Afif; Maskur, Ali; Wulandari, Dwi; Afif, Aqila-Syarief Muhammad; Azmi, Muhammad Fazli
Lex Scientia Law Review Vol. 9 No. 2 (2025): November, 2025: Law, Policy, and Governance in Contemporary Socio-Economic Tran
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/lslr.v9i2.24927

Abstract

Financial technology has experienced rapid expansion amidst the digital economic development that has made services more accessible while increasing financial inclusion. The rapid growth of financial technology creates substantial challenges for consumer protection. The primary problems arise from inadequate data protection measures and electronic payment security protocols. The lack of proper security measures and insufficient digital literacy exposes consumers to increasing risks of data theft, phishing attacks, and personal information misuse. This research evaluates the current regulatory structure that defends consumer rights and ensures secure financial operations through technological systems. The study adopts a normative legal research method through statutory analysis. The research shows that Indonesia's regulatory framework extends broad protection but requires modernization to address contemporary technological developments and emerging security risks. Fintech requires a regulatory framework that adjusts to evolving conditions while fostering partnerships to deliver adequate consumer protection.
Legal Frameworks, Transparency, and Oversight: Ensuring Public Confidence in Online Donation Platforms Noor, Afif; Afif, Aqila-Syarief Muhammad; Azmi, Muhammad Fazli; Dwi Wulandari
Indonesian State Law Review Vol. 8 No. 2 (2025): Indonesian State Law Review, October 2025
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/islrev.v8i2.25429

Abstract

The proliferation of digital technology has markedly accelerated the expansion of online donation platforms in Indonesia. Concurrently, with the rise in public engagement in online philanthropic endeavours, several challenges have surfaced, including the potential for fund misuse, lack of transparency, and inadequate oversight mechanisms. This study examines how legal frameworks, transparency, and oversight can collaboratively safeguard and enhance public trust in online donation systems. The methodology employed is a qualitative study with a normative approach involving the analysis of existing regulations, literature reviews, and case studies related to digital donation mismanagement. The findings reveal the lack of comprehensive legal regulations governing online donations, accountability mechanisms among platform providers, and limited public access to financial information. The study further underscores the importance of implementing principles of good governance, utilizing transparency-enhancing technologies such as blockchain, and strengthening independent reporting and auditing systems to prevent fund misappropriation. In conclusion, public trust in online donation systems can only be cultivated through reinforced legal frameworks, increased operational transparency, and oversight involving multiple stakeholders. The study recommends formulating national regulations addressing digital donations, active involvement of independent supervisory institutions, and continuous public education to ensure that the public is informed and aware, thereby establishing a secure, accountable, and sustainable online donation ecosystem.
DIGITAL GOLD IN INDONESIA: BRIDGING REGULATORY AND SHARIA GAPS Noor, Afif; Supangat; Afif, Aqila-Syarief Muhammad; Azmi, Muhammad Fazli
Jurnal Al-Dustur Vol 9 No 1 (2026): JUNE
Publisher : Institut Agama Islam Negeri Bone

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30863/aldustur.v9i1.10646

Abstract

This study examines the development of digital gold in Indonesia by analyzing regulatory gaps and Sharia compliance. The primary objective of this study is to assess the extent to which the current regulatory system aligns with Islamic law standards and to address legal ambiguities that impact both market participants and Muslim consumers. This study employs a qualitative approach, utilizing normative legal analysis and a literature review of financial regulations and fiqh mu‘āmalah principles related to digital gold. Official documents, regulations issued by the Financial Services Authority (OJK), and fatwas issued by Islamic legal institutions serve as data sources. The current regulatory framework lacks adequate integration with Sharia, leading to inconsistent legal practices and unclear standards. This regulatory ambiguity is evident in the status of digital gold as a commodity or financial instrument. Furthermore, the lack of uniform standards regarding gold ownership by selling platforms, storage mechanisms, and transparency of physical gold reserves adds to the uncertainty. In the context of fiqh mu‘āmalah, this violates Sharia principles such as riba (usury), gharar (gharar), bai' al-ma'dum (risk of betting), and maisir (gambling). Without clear regulations, digital gold can be problematic from both legal and Sharia-compliant perspectives. The research demonstrates the necessity to merge positive law with Islamic legal values to establish a legally valid digital gold system that is transparent and Sharia-compliant. The study proposes that regulators, industry stakeholders, and the Sharia Supervisory Board should collaborate to establish standardized practices and regulations. The development of adaptive Sharia-compliant digital gold regulations represents a strategic approach to promoting safe and sustainable growth in digital investment in Indonesia. The findings of this study provide a strong academic foundation for examining the effectiveness of Sharia regulations and governance in digital investment products, highlighting the importance of this research in the development of Islamic finance and digital investment.
Co-Authors Afif Noor Afif, Aqila-Syarief Muhammad Ali Maskur Dwi Wulandari Dwi Wulandari Supangat