Open AccessRegulation and consumer protection of fintech in Indonesia
Author(s) -
Afif Noor,
Haniff Ahamat,
Ismail Marzuki,
Dwi Wulandari,
Akhmad Arif Junaidi,
Edy Lisdiyono,
Bakti Trisnawati
Publication year - 2021
Publication title -
linguistics and culture review
Language(s) - English
Resource type - Journals
ISSN - 2690-103X
DOI - 10.21744/lingcure.v6ns3.1938
Subject(s) - legal certainty , business , sharia , consumer protection , islam , legislation , normative , economic justice , islamic banking , indonesian , norm (philosophy) , accounting , law and economics , law , commerce , economics , political science , philosophy , linguistics , theology
Islamic fintech lending regulation and consumer protection are important matters that serve as behavioral guidelines and guarantee the fulfillment of consumer rights. Islamic fintech lending has high risks, such as default, sharia compliance, and implementation of dispute resolution. This study aims to find and analyze the regulation and protection of Islamic fintech lending consumers in Indonesian laws and regulations. This research is normative juridical research that examines the law as a norm in legislation by using secondary data which is analyzed qualitatively by descriptive analysis method. Normatively, there are no regulations that specifically regulate or contain Islamic fintech lending. Thus, consumer protection is also weak. Policymakers must carry out legal reforms by issuing laws or regulations that regulate Islamic fintech lending and its business activities to realize legal certainty, justice, and benefit.