Journal on Islamic Economics, Finance, and Banking (Z-CONOMICS)
Vol. 2 No. 3 (2026): Vol. 2 No. 3 (2026): Journal on Islamic Economics, Finance & Banking [Z-CONOMIC

BLOCKCHAIN, SMART CONTRACTS, AND CRYPTOCURRENCY IN ISLAMIC FINANCE:SHARIAH COMPLIANCE AND GOVERNANCE

Kartika Marella Vanni (Universitas Islam Negeri Walisongo Semarang)
Muhlis (Universitas Islam Negeri Walisongo Semarang)
Nur Fatoni (Universitas Islam Negeri Walisongo Semarang)
Wahab (Universitas Islam Negeri Walisongo Semarang)



Article Info

Publish Date
02 Sep 2026

Abstract

This study analyses the shariah compliance of blockchain, smart contracts, and cryptocurrency and formulates a shariah governance framework relevant to the digital era. A qualitative library research design with a normative-juridical and conceptual approach, using content analysis of fatwas, national regulations, AAOIFI and IFSB standards, and scholarly literature published between 2015 and 2026, validated through source triangulation. Blockchain is technology-neutral and converges with maqashid al-shariah through transparency, traceability, and gharar reduction. Smart contracts can satisfy the pillars of aqd provided the encoded substance complies with shariah and the parties are verified. Cryptocurrency rulings remain fragmented because authorities differ in tahqiq al-manath rather than in principle. A multi-layered shariah governance framework is therefore required. DSN-MUI and OJK should develop national shariah screening criteria for digital assets, operators offering shariah-labelled products should be required to establish shariah supervisory functions, and universities should prepare graduates with combined fiqh and technology competence. The study integrates three technological objects into one compliance framework and links normative fiqh analysis with international governance standards and Indonesia's post-P2SK regulatory regime.

Copyrights © 2026






Journal Info

Abbrev

jiefb

Publisher

Subject

Religion Economics, Econometrics & Finance

Description

Journal on Islamic Economics, Finance, and Banking (Z-CONOMICS) is an open access peer-reviewed academic journal dedicated to advancing research and scholarship in the fields of Islamic economics, Islamic finance, and sharia-compliant banking systems. The journal serves as a platform for critical ...