Digitalization of Islamic Finance: Epistemological Study of the National Sharia Board-Indonesian Council of Ulama’s Fatwa

Tri Hidayati*    -  Institut Agama Islam Negeri Palangka Raya, Palangka Raya, Indonesia
Muhammad Syarif Hidayatullah    -  Universitas Islam Negeri Antasari, Banjarmasin, Indonesia
Parman Komarudin    -  Universitas Islam Kalimantan Muhammad Arsyad al-Banjari, Banjarmasin, Indonesia
Atika Atika    -  Universitas Islam Negeri Raden Fatah, Palembang, Indonesia

(*) Corresponding Author
DOI: 10.21580/ahkam.2023.33.2.17324

The dynamic and rapid development of digital business and finance requires progressive Sharia legal certainty. National Sharia Board-Indonesian Council of Ulama (Dewan Syariah Nasional – Majelis Ulama Indonesia/DSN-MUI) has issued several fatwas related to digital finance. This research aims to examine the portrait of DSN-MUI’s progressiveness towards the digital finance paradigm and aspects of Islamic legal epistemology in the DSN-MUI Fatwa with the theme of digital finance. This research uses a qualitative approach. The primary data for this research are the DSN-MUI fatwas up to 2021 with a digital theme, plus secondary data in the form of relevant literature. Data analysis uses content analysis techniques. The findings are that there are three DSN-MUI fatwas regarding digital finance in Sharia financial institutions, namely Fatwa No. 116/DSN-MUI/IX/2017, No. 117/DSN-MUI/II/2018, and No. 140/DSN-MUI/VIII/2021. These three fatwas constitute progressive Islamic business law and are important for the Sharia financial industry in Indonesia. DSN-MUI used the ta’lÄ«lÄ« and istiá¹£lÄÂḥi methods with the consideration that electronic money, digital-based financing, and crowdfunding are permissible (mubah) based on sharia principles to achieve benefit. These three DSN-MUI fatwas need to be transformed into OJK regulations and can become a source for making derivative fatwas.

Keywords: digitalization; Islamic finance; Islamic law; the DSN-MUI fatwa

  1. AAOIFI. Shari’ah Standard. Bahrain: AAOIFI, 2017.
  2. Achsien, Iggi Haruman, and Dien Lukita Purnamasari. “Islamic Crowd-Funding as the Next Financial Innovation in Islamic Finance: Potential and Anticipated Regulation in Indonesia.†EJIF - European Journal of Islamic Finance 5 (2016). https://doi.org/10.13135/2421-2172/1771.
  3. Adzkiya’, Ubbadul, Ahmad Lukman Nugraha, and Mustofa Hasan. “Reposisi Akal sebagai Sumber Dalil Ekonomi Islam.†Jurnal Ilmiah Ekonomi Islam 8, no. 2 (2022): 1626–32. https://doi.org/10.29040/jiei.v8i2.4836.
  4. Aminullah, Amiruddin. “Urgensi Maslahat dalam Pengembangan Hukum Islam.†Dirasat Islamiah: Jurnal Kajian Keislaman 2, no. 2 (2021): 67–88. https://doi.org/10.59638/dirasatislamiah.v2i2.35.
  5. Anshori, Teguh. “Menuju Fiqih Progresif (Fiqih Modern Berdasarkan Maqashid al Syariah Perspektif Jaser Auda).†Al-Syakhsiyyah: Journal of Law & Family Studies 2, no. 1 (2020): 168–81. https://doi.org/10.21154/syakhsiyyah.v2i1.2166.
  6. Anto, Febri, and Zainul Muin Husni. “Metode Penggalian Hukum Prespektif Islam Progresif Abdullah Saeed.†Hakam: Jurnal Kajian Hukum Islam dan Hukum Ekonomi Islam 5, no. 2 (2022): 102–20. https://doi.org/10.33650/jhi.v5i2.3504.
  7. Arwani, Agus. “Epistemologi Hukum Ekonomi Islam (Muamalah).†Religia: Jurnal Ilmu-Ilmu Keislaman 15, no. 1 (2012): 125–46.
  8. Azizi, A. Qadri A. Reformasi Bermazhab, Sebuah Ikhtiar Menuju Ijtihad Saintifik Moder. Jakarta: Teraju, 2003.
  9. Dahlan, Moh. “Fiqh Progressive–Economics Ijtihad Paradigm in Indonesia.†Al-Intaj: Jurnal Ekonomi dan Perbankan Syariah 4, no. 2 (2018): 192–208. https://doi.org/10.29300/aij.v4i2.1209.
  10. al-DÄÂraynÄ«, Fatḥi. Al-MinhÄÂj Al-Uṣūliyyah FÄ« IjtihÄÂd BÄ« Al-Ra’yi FÄ« Al-Tashrī’. Damascus: DÄÂr al-Kutub al-HadÄ«th, 1975.
  11. Darma, Satria. “Peran Pemerintah Indonesia dan Malaysia dalam Mendukung Implementasi Teknologi Keuangan Islam pada Aspek Regulasi.†Jurnal Ekonomi & Ekonomi Syariah 5, no. 2 (2022): 2185–98. https://doi.org/https://doi.org/10.36778/jesya.v5i2.814.
  12. Djamil, Fathurrahman. Filsafat Hukum Islam. Jakarta: Logos Wacana Ilmu, 1997.
  13. Efrinaldi, Efrinaldi. “Usul Fikih: Rekonstruksi Metodologis dalam Dinamika Hukum Islam.†Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi dan Keagamaan 5, no. 2 (2019): 109–18. https://doi.org/10.29300/mzn.v5i2.1440.
  14. Fakhrunnas, Faaza. “Fatwa on the Islamic Law Transaction and Its Role in the Islamic Finance Ecosystem.†Al Tijarah 4, no. 1 (2018): 42–53. https://doi.org/10.21111/tijarah.v4i1.2372.
  15. Faozan, Akhmad. “Pola dan Urgensi Positivisasi Fatwa-Fatwa Dewan Syariah Nasional Majelis Ulama Indonesia tentang Perbankan Syariah di Indonesia.†Al-Manahij: Jurnal Kajian Hukum Islam 10, no. 2 (2017): 309–21. https://doi.org/10.24090/mnh.v10i2.941.
  16. Fauzi M. “Urgensi Ijtihad Saintifik dalam Menjawab Problematika Hukum Transaksi Kontemporer.†Al-Risalah: Forum Kajian Hukum dan Sosial Kemasyarakatan 13, no. 2 (2013): 1–21. https://doi.org/10.30631/al-risalah.v13i02.408.
  17. al-GhazÄÂlÄ«, AbÅ« ḤÄÂmid Muḥammad ibn Muḥammad. Al-MustashfÄ Min Ilm Al-Uṣūl. DÄÂr al-Kutub al-‘Ilmiyyah, 1993.
  18. Hakim, Sofian Al. “Analytical Framework for Study the Fatwas of Sharia Economics.†Ahkam: Jurnal Ilmu Syariah 19, no. 2 (2019): 315–30. https://doi.org/10.15408/ajis.v19i2.12219.
  19. Hasballah, Khairuddin, Andi Darna, Wardana Said, Hajarul Akbar, Ihdi Karim Makinara, and Faisal Fauzan. “Identifying ‘Illat through Munasabah in Islamic Law: A Perspective of Imam al-Ghazali.†Samarah: Jurnal Hukum Keluarga dan Hukum Islam 5, no. 2 (2021): 598–618. https://doi.org/10.22373/sjhk.v5i2.10914.
  20. Hayatudin, Amrullah. Ushul Fiqh: Jalan Tengah Memahami Hukum Islam. Jakarta: Amzah, 2019.
  21. Hidayatullah, Muhammad Syarif. “Formulasi Rechtsvinding dengan Penalaran Analogis dalam Epistemologi Hukum Islam (Telaah Metodologis Qiyas sebagai Ra’y terhadap MashÄÂdir al-AhkÄÂm asy-Syar’iyyah).†JURIS (Jurnal Ilmiah Syariah) 19, no. 2 (2020): 177. https://doi.org/10.31958/juris.v19i2.2490.
  22. Iqbal, Achmad, Edian Fahmy, Wang Wardhana, Ardiansyah Rakhmadi, Saiful Khoiri, Suci Ramdania, Miftahul Achyar, Reza Awaliah Ali, and Asrofun Nisa. Modul Pelatihan Securities Crowdfunding (SCf) Syariah untuk Penerbit/UMKM. Jakarta: Komite Nasional Ekonomi dan Keuangan Syariah (KNEKS), 2022.
  23. IsmÄÂ’īl, Muḥammad Muḥammad. al-Fikr al-IslÄÂmÄ«. Beirut: al-Maktabah al-Wa’ī, 1958.
  24. Izmuddin, Iiz. “Fatwa Methodology of National Sharia Board of Indonesian Ulama Council in Islamic Economics.†Miqot: Jurnal Ilmu-Ilmu Keislaman 42, no. 1 (2018): 43–58. https://doi.org/10.30821/miqot.v42i1.499.
  25. Izomiddin, I. Pemikiran dan Filsafat Hukum Islam. Jakarta: Kencana, 2018.
  26. al-JaizÄÂnÄ«, Muḥammad bin Ḥusain bin Ḥasan. Ma’ÄÂlim Uṣūl Al-Fiqh ‘Ind Ahl Al-Sunnah Wa Al-JamÄÂ’Ah. Cairo: DÄÂr Ibn al-JauzÄ«, 2006.
  27. Janowitz, Morris. “Harold D. Lasswell’s Contribution to Content Analysis.†The Public Opinion Quarterly 32, no. 4 (1969): 646–53.
  28. al-Jauziyyah, Muḥammad bin AbÅ« Bakr bin al-Qayyim. I’lÄÂm Al-Muwaqqi’īn ‘an Rabb Al-‘ĀlamÄ«n. 3rd ed. Cairo: Maktabah al-KulliyÄÂt al-Azhariyah, 1968.
  29. Khaeruman, Badri. Hukum Islam dalam Perubahan Sosial. Bandung: Pustaka Setia, 2010.
  30. Kudaedah, Nur Asiah. “Maslahah menurut Konsep al-Ghazali.†Diktum: Jurnal Syariah dan Hukum 18, no. 1 (2020): 118–28. https://doi.org/10.35905/diktum.v18i1.663.
  31. Mahsun, Mahsun. “Rekonstruksi Pemikiran Hukum Islam melalui Integrasi Metode Klasik dengan Metode Saintifik Modern.†Al-Ahkam 1, no. 25 (2015): 1–18. https://doi.org/10.21580/ahkam.2015.1.25.191.
  32. Maksum, Muhammad. “The Relationship Model of Sharia and Financial Authorities.†Ahkam: Jurnal Hukum Islam 20, no. 1 (2020): 115–36. https://doi.org/10.15408/ajis.v20i1.16235.
  33. Mashudi, M. “Membumikan Hukum Islam Progresif: Respons Konsumen Muslim terhadap Undang-Undang Jaminan Produk Halal.†International Journal Ihya’ ’Ulum al-Din 19, no. 1 (2017): 47–72. https://doi.org/10.21580/ihya.18.1.1742.
  34. Maulidi, Maulidi. “Paradigma Progresif dan Maqashid Syariah: Manhaj Baru Menemukan Hukum Responsif.†Asy-Syir’ah: Jurnal Ilmu Syari’ah dan Hukum 49, no. 2 (2015). https://doi.org/10.14421/ajish.v49i2.141.
  35. Mayyadah, Mayyadah. “Komparasi Maslahat Perspektif al-Tufi dan al-Syatibi.†Bilancia: Jurnal Studi Ilmu Syariah dan Hukum 12, no. 2 (2018): 263–278. https://doi.org/10.59638/dirasatislamiah.v2i2.35.
  36. Nafi, Muhammad. Hybrid Contract pada Perbankan Syariah dalam Perspektif Maqashid Syari’ah. Yogyakarta: Diandra Kreatif, 2017.
  37. Nafis, M. Cholil. Teori Hukum Ekonomi Syariah. Jakarta: UI Press, 2011.
  38. Noh, Mohd Shahid bin Moch, and Dwi Fidhayanti. “Riba and Gharar on Digital Payment Applications: Comparison between Malaysia and Indonesia.†Jurisdictie: Jurnal Hukum dan Syariah 13, no. 1 (2022): 40–62. https://doi.org/10.18860/j.v13i1.16131.
  39. Nur, Iffatin, Syahrul Adam, and M. Ngizzul Muttaqien. “MaqÄÂá¹£id al-Sharī‘at: The Main Reference and Ethical-Spiritual Foundation for the Dynamization Process of Islamic Law.†Ahkam: Jurnal Ilmu Syariah 20, no. 2 (2020): 331–60. https://doi.org/10.15408/ajis.v20i2.18333.
  40. Nurfalah, Irfan, and Aam Slamet Rusydiana. “Digitalisasi Keuangan Syariah menuju Keuangan Inklusif: Kerangka Maqashid Syariah.†Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan dan Akuntansi 11, no. 1 (May 31, 2019): 55–76. https://doi.org/10.35313/ekspansi.v11i1.1205.
  41. Pelu, Ibnu Elmi Achmat Slamat, and Jefry Tarantang. “Fatwa Majelis Ulama Indonesia sebagai Solusi Permasalahan Umat Islam di Indonesia.†Al-Manahij: Jurnal Kajian Hukum Islam 14, no. 2 (2020): 307–16. https://doi.org/10.24090/mnh.v14i2.3927.
  42. “Peta E‑Commerce Indonesia.†Accessed July 31, 2023. https://iprice.co.id/insights/mapofecommerce/.
  43. Prambadi, Gilang Akbar. “Dunia Digital Indonesia Dinilai Kian Mengilap pada 2022.†Republika, November 30, 2021. https://tekno.republika.co.id/berita/r3d28j456/dunia-digital-indonesia-dinilai-kian-mengilap-pada-2022?
  44. Rahardjo, Satjipto. Hukum Progresif: Sebuah Sintesa Hukum Indonesia. Yogyakarta: Genta Publishing, 2009.
  45. Ramli, Wan Nurliza W., Hairin Herlina Abdul Halim, Nur Farizah Ismail, and Syazwan Othman. “The Application of E-Wallet In Malaysia: An Analysis of Shariah Point of View.†Al-Qanatir: International Journal of Islamic Studies 23, no. 2 (2021): 44–54. https://al-qanatir.com/aq/article/view/357.
  46. Rosyadi, Imron, and Muhammad Muinudinillah Basri. Usul Fikih Hukum Ekonomi Syariah. Surakarta: Muhammadiyah University Press, 2020.
  47. Sahabuddin, Mohammad, Junaina Muhammad, Mohamed Hisham Yahya, Sabarina Mohammed Shah, and Md Kausar Alam. “Digitalization, Innovation and Sustainable Development: An Evidence of Islamic Finance Perspective.†International Journal of Asian Social Science 9, no. 12 (2019): 651–56. https://doi.org/10.18488/journal.1.2019.912.651.656.
  48. Salam Dz., Abdus. “Inklusi Keuangan Perbankan Syariah Berbasis Digital-Banking: Optimalisasi dan Tantangan.†Al-Amwal: Jurnal Ekonomi dan Perbankan Syari’ah 10, no. 1 (June 2, 2018): 63–80. https://doi.org/10.24235/amwal.v10i1.2813.
  49. al-SalÄÂm, al-’Izz bin ’Abd. QawÄÂ’id Al-AḥkÄÂm FÄ« Maá¹£ÄÂliḥ Al-AnÄÂm. Beirut: DÄÂr al-Kutub al-’Ilmiyyah, 2001.
  50. Sarifudin, Sarifudin. “Hukum Islam Progresif: Tawaran Teori Maslahat at-Thufi sebagai Epistemologi untuk Pembangunan Hukum Nasional di Indonesia.†Jurnal Wawasan Yuridika 3, no. 2 (2019): 135–54. https://doi.org/10.25072/jwy.v3i2.269.
  51. al-ShÄÂá¹­ibÄ«, AbÅ« IsḥÄÂq al-ShÄÂá¹­ibÄ« IbrÄÂhÄ«m ibn MÅ«sÄ al-Lakhmi al-Gharnaá¹­i AbÅ« IsḥÄÂq. Al-MuwÄÂfaqÄÂt. RiyÄÂá¸Â: DÄÂr Ibn ’AffÄÂn, 1997.
  52. ash-Shiddieqy, M. Hasbi. Falsafah Hukum Islam. Jakarta: Bulan Bintang, 1975.
  53. al-ShinqÄ«á¹­Ä«, Muḥammad al-AmÄ«n bin Muḥammad al-MukhtÄÂr bin ‘Abd al-QÄÂdir al-JaknÄ«. Al-Maá¹£ÄÂliḥ Al-Mursalah. MadÄ«nah: al-JÄÂmi’ah al-IslÄÂmiyyah, 1990.
  54. Soekanto, Soerjono. Sosiologi Suatu Pengantar. Jakarta: RajaGrafindo Persada, 2006.
  55. Susilawati, Cucu, Ahmad Azam Sulaiman, Muhamad Abduh, Yoyok Prasetyo, and Mohamad Anton Athoillah. “Comparative Study on the Regulation of Sharia Financial Technology in Indonesia and Malaysia.†Jurisdictie: Jurnal Hukum dan Syariah 12, no. 1 (2021).
  56. Uly, Yohana Artha, and Yoga Sukmana. “Melonjak 61,8 Persen, Transaksi Uang Elektronik Capai Rp 31,3 Triliun.†Kompas.com, December 16, 2021. https://money.kompas.com/read/2021/12/16/172015626/melonjak-618-persen-transaksi-uang-elektronik-capai-rp-313-triliun.
  57. Witro, Doli, Atang Abdul Hakim, and Koko Komaruddin. “Characteristics and Essence of Fatwas on Islamic Economic Law in Indonesia.†Ahkam: Jurnal Hukum Islam 9, no. 1 (2021): 155–74. https://doi.org/10.21274/ahkam.2021.9.1.155-174.
  58. al-ZuḥaylÄ«, Wahbah. Al-Fiqh Al-IslÄÂmÄ« Wa Adillatuh. Damaskus: DÄÂr al-Fikr, 1985.

Open Access Copyright (c) 2023 Al-Ahkam
Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Publisher
Faculty of Sharia and Law Universitas Islam Negeri Walisongo Semarang
in collaboration with Indonesian Consortium Sharia Scholar (KSSI)
Jl Prof. Dr. Hamka Kampus III Ngaliyan Semarang 50185
Phone: 024 7601291
https://fsh.walisongo.ac.id/
email: [email protected]

 Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License

View:  Visitor | Country  

 
apps