ANALYSIS OF CASH SWIPE TRANSACTIONS IN THE FRAMEWORK OF ISLAMIC ECONOMIC LAW AND THEIR ALIGNMENT WITH SUSTAINABLE DEVELOPMENT GOALS (SDGS)

Yunita Sari (Department of Islamic Economic Law, Universitas Muhammadiyah Surakarta)
Muthoifin (Department of Islamic Economic Law, Universitas Muhammadiyah Surakarta)
Amel Saib (Faculty of Islamic Studies, University of Islamic Sciences Emir Abdelkader Constantine)
Aboubacar Barry (Faculty of Sharia and Law, International University of Africa)

Profetika: Jurnal Studi Islam
Vol. 25 No. 01 (2024): Profetika Jurnal Studi Islam 2024

This study aims to analyze the practice of cash swipe transactions conducted through various platforms and applications from the perspective of Islamic economic law and their alignment with the Sustainable Development Goals (SDGs). The research adopts a quantitative approach and relies on literature review as the primary method. Data sources include books, journals, and other relevant references that address the core issue. The findings indicate that cash swipe transactions represent a functional misuse of credit cards, originally intended as a means of payment for goods and services. In these transactions, individuals feign purchasing goods but instead withdraw cash, facilitated by stores offering such services. This practice constitutes a violation of ethical principles in Islamic business. From the perspective of Islamic economic law, cash swipe transactions are deemed haram (prohibited) because they involve dishonesty, fraud, and the element of riba (usury). Furthermore, such transactions foster unethical business practices aimed solely at maximizing profit through illicit means. These violations disrupt the integrity of economic transactions and contravene Islamic ethical guidelines, which prioritize fairness, transparency, and mutual benefit. In the context of the SDGs, cash swipe transactions undermine several goals, particularly Goal 8 (Decent Work and Economic Growth) and Goal 16 (Peace, Justice, and Strong Institutions). By promoting fraudulent activities and unethical practices, these transactions contribute to economic instability and erode trust in financial systems. Conversely, adherence to Islamic economic principles aligns with the SDGs by fostering ethical financial practices that promote sustainable economic growth, social justice, and institutional integrity. This study highlights the necessity of stricter regulations and public awareness to mitigate the risks associated with cash swipe transactions. Encouraging compliance with Islamic economic law not only preserves ethical standards but also supports global efforts toward achieving the SDGs.