<![CDATA[The rapid growth of Islamic fintech in Indonesia has propelled digital cash waqf collection from Rp61.2 billion in 2019 to Rp571.8 billion in 2024 (CAGR 56.4%), exposing a fundamental structural mismatch: Law No. 41 of 2004 on Waqf — the lex specialis — was designed for face-to-face transactions with no digital provisions, creating legal uncertainty as this study's central problem. This normative legal study employs statute, conceptual, and comparative approaches, applying a regulatory harmonization framework to map normative gaps across Law No. 41 of 2004, Government Regulation No. 42 of 2006, BWI Regulation No. 1 of 2020, UU ITE, and OJK fintech regulations, using Malaysian waqf instruments as reference. Three legal vacuums are identified: first, Article 17's physical presence requirement before PPAIW renders electronic waqf contracts legally uncertain, as UU ITE — lex generalis — cannot override the Waqf Law's lex specialis formality; second, no dedicated consumer protection exists for waqif funds on non-bank fintech platforms outside banking-grade deposit protection; and third, absent interoperability standards between national payment infrastructure (GPN/QRIS/BI-FAST) and digital waqf platforms produce data fragmentation impeding oversight. Comparative analysis shows proactive inter-institutional coordination between JAWHAR and Bank Negara Malaysia produces measurably superior outcomes in platform integration, fund security, and public trust. Grounded in maqasid al-shari'ah, closing these vacuums constitutes a substantive Islamic obligation rooted in hifzh al-mal and maslahah. Three normative recommendations: amendment of Article 17 of Law No. 41 of 2004 to recognize digital waqf; joint OJK-BWI regulation on fintech waqf; and a standardized Digital Waqf API Framework by Bank Indonesia.]]>
Copyrights © 2026
