The Urgency of Regulating Fintech Peer to Peer Lending Sharia in Indonesia

Abstract

This reserchaims to analyze the urgency of Fintech Peer to Peer Lending (P2P Lending) Sharia law in Indonesian Muslim communities. This research is normative legal research that is authoritative and technical/applied. The research approach usesthe law approach. The licensed material of this research uses primary and secondary legal materials. The technique of collecting legal materials through library research or document research (library research), then analyzed using qualitative methods. Theresults of this research are applying the theory of utilitarian and sharia principles inthe legal arrangement of Fintech P2P Lending Sharia is expected to meet the Indonesian Muslim community's sense of security in choosing the best alternative for P2PLending financial services. although the parties feel safe, the Fatwa as the legal basis for the implementation of sharia P2P fintech does not have a position in a positive source of Indonesian law so that it is not binding; and to be valid and binding, thefatwa must be regulated in a statutory regulation.