Academic Journal
Usury in Online Loans and Pay Later: From Historical Perspective to Its Contextualization on Modern Practice
| العنوان: | Usury in Online Loans and Pay Later: From Historical Perspective to Its Contextualization on Modern Practice |
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| المؤلفون: | Nurrohim, Ahmad Hujaj, Abdurrahman, Landy Trisna, Imam, Khairul |
| المصدر: | Az-Zarqa': Jurnal Hukum Bisnis Islam; Vol 15, No 2 (2023): Az Zarqa'; 283-306 ; 2809-3569 ; 2087-8117 |
| بيانات النشر: | Sharia and Law Faculty of Sunan Kalijaga Islamic State University Yogyakarta |
| سنة النشر: | 2023 |
| المجموعة: | UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Syariah dan Ilmu Hukum |
| مصطلحات موضوعية: | Usury, Legal Reasoning, Asbabun Nuzul, Trading Tradition |
| الوصف: | The enthusiasm of the Muslim community in Indonesia for various fintech products, especially Peer-to-Peer Lending (Online Loans and Pay Later), remains substantial. Non-Sharia-based Online Loans and Pay Later have been deemed haram (forbidden) by MUI, while the availability of Sharia-compliant services in Online Loans and Pay Later is limited. Fatwas regarding online loans and Pay Later refer to the prohibition of usury due to the presence of "usury" (additional charges in loan repayment). Usury, considered as interest, is the primary reason for the prohibition of these products. However, there is no comprehensive and multi-perspective interpretation of the meaning of usury. There are aspects that need to be uncovered in the interpretation of the meaning of usury to aid in understanding the contextualization of usury in the contemporary era, by reexamining the interpretation of usury through the historical perspective and the trading traditions of Arab society in the early Islamic era. This research aims to reveal another side in the process of prohibiting usury through verses from the Quran and use it to draw contextualization in the practice of transactions through the mechanisms of online loans and Pay Later in the present time. This study is a qualitative literature review with primary data based on the legal basis of the prohibition of usury from the verses of the Quran, along with various opinions of Muslim scholars on the process. Using a Quranic - historical approach, this research finds that the prohibition of usury did not occur abruptly and always involves the knowledge and experience of the Arab Muslim community in the early Islamic era. The contextualization of the prohibition of usury through historical investigation and trading traditions shows that the prohibition of online loans and Pay Later cannot solely be attributed to the existence of interest rates in loans but should emphasize the exploitation of basic human needs by service providers. The study also asserts that transactions ... |
| نوع الوثيقة: | article in journal/newspaper |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | https://ejournal.uin-suka.ac.id/syariah/azzarqa/article/view/3303/2052; https://ejournal.uin-suka.ac.id/syariah/azzarqa/article/view/3303 |
| DOI: | 10.14421/azzarqa.v15i2.3303 |
| الاتاحة: | https://ejournal.uin-suka.ac.id/syariah/azzarqa/article/view/3303 https://doi.org/10.14421/azzarqa.v15i2.3303 |
| Rights: | http://creativecommons.org/licenses/by-sa/4.0 |
| رقم الانضمام: | edsbas.3E97ED93 |
| قاعدة البيانات: | BASE |
| DOI: | 10.14421/azzarqa.v15i2.3303 |
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