The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective

Alhadiansyah Alhadiansyah; Erni Djun'astuti; Sugeng Susila; Marnita Marnita; Tri Dian Aprilsesa

doi:10.47268/sasi.v29i4.1733

The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective

Alhadiansyah Alhadiansyah⁽¹⁾, Erni Djun'astuti⁽²⁾, Sugeng Susila⁽³⁾, Marnita Marnita⁽⁴⁾, Tri Dian Aprilsesa⁽⁵⁾

(1) Faculty of Law Tanjungpura University, Pontianak, Indonesia
(2) Faculty of Law Tanjungpura University, Pontianak, Indonesia
(3) Faculty of Law Tanjungpura University, Pontianak, Indonesia
(4) Faculty of Law Tanjungpura University, Pontianak, Indonesia
(5) Faculty of Law Tanjungpura University, Pontianak, Indonesia
email

Corresponding Author

Abstract

Introduction: In the era of globalization and information technology, fintech is transforming the financial sector, including fintech securities crowdfunding, which is a funding model based on the participation of many small investors. In the context of sharia, sharia principles regulate financial transactions and services, while crowdfunding fintech securities is a popular phenomenon in sharia funding, but requires investor protection regarding investment risk and legal protection.

Purposes of the Research: To analyze the legal certainty of protection for investors who invest in Islamic funding through fintech securities crowdfunding in Indonesia and analyze the risks faced by investors in this context.

Methods of the Research: This study uses qualitative normative legal research methods to understand legal certainty and investor protection in Islamic funding through Fintech Securities Crowdfunding. Data collection was carried out through literature study and then analyzed qualitatively to identify patterns, themes and related issues.

Results of the Research: Sharia funding through Fintech Securities Crowdfunding in Indonesia provides attractive Islamic investment opportunities but also involves various risks such as business risk, liquidity, legal, sharia, and others. Legal certainty regulated by Financial Services Authorityand Sharia Supervisory Board is the key in providing protection to investors. OJK regulations ensure information transparency and compliance with sharia principles, so that investors can invest with confidence according to sharia values. Thus, an investment ecosystem that has integrity and is inclusive within the sharia framework can be realized.

Keywords

Financial Services Authority; Capital Markets; Sharia Investment; Funding.

DOI

10.47268/sasi.v29i4.1733

Published

2023-11-30

How To Cite

APA: Alhadiansyah, A., Djun'astuti, E., Susila, S., Marnita, M., & Aprilsesa, T.D. (2023). The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective. SASI, 29(4), 777-789. DOI: https://doi.org/10.47268/sasi.v29i4.1733.

IEEE: A. Alhadiansyah, E. Djun'astuti, S. Susila, M. Marnita, and T.D. Aprilsesa, "The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective", SASI, vol. 29, no. 4, pp. 777-789, Nov. 2023. Accessed on: May. 11, 2025. [Online]. Available DOI: https://doi.org/10.47268/sasi.v29i4.1733

Harvard: Alhadiansyah, A., Djun'astuti, E., Susila, S., Marnita, M., and Aprilsesa, T.D., (2023). "The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective". SASI, Volume 29(4), pp. 777-789. [Online]. Available DOI: https://doi.org/10.47268/sasi.v29i4.1733 (Accessed on: 11 May 2025)

Chicago: Alhadiansyah, Alhadiansyah, Erni Djun'astuti, Sugeng Susila, Marnita Marnita, and Tri Dian Aprilsesa. "The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective." SASI 29, no. 4 (October 30, 2023): 777-789. Accessed May 11, 2025. doi:10.47268/sasi.v29i4.1733

Vancouver: Alhadiansyah A, Djun'astuti E, Susila S, Marnita M, Aprilsesa TD. The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective. SASI [Internet]. 2023 Nov 30 [cited 2025 May 11];29(4):777-789. Available from: https://doi.org/10.47268/sasi.v29i4.1733

MLA 8th: Alhadiansyah, Alhadiansyah, Erni Djun'astuti, Sugeng Susila, Marnita Marnita, and Tri Dian Aprilsesa. "The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective." SASI, vol. 29, no. 4, 30 Oct. 2023, pp. 777-789, doi:10.47268/sasi.v29i4.1733. Accessed 11 May. 2025.

BibTeX:

@article{SASI1733,
		author = {Alhadiansyah Alhadiansyah and Erni Djun'astuti and Sugeng Susila and Marnita Marnita and Tri Aprilsesa},
		title = {The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective},
		journal = {SASI},
		volume = {29},
		number = {4},
		year = {2023},
		keywords = {Financial Services Authority; Capital Markets; Sharia Investment; Funding.},
		abstract = {Introduction: In the era of globalization and information technology, fintech is transforming the financial sector, including fintech securities crowdfunding, which is a funding model based on the participation of many small investors. In the context of sharia, sharia principles regulate financial transactions and services, while crowdfunding fintech securities is a popular phenomenon in sharia funding, but requires investor protection regarding investment risk and legal protection.Purposes of the Research: To analyze the legal certainty of protection for investors who invest in Islamic funding through fintech securities crowdfunding in Indonesia and analyze the risks faced by investors in this context.Methods of the Research: This study uses qualitative normative legal research methods to understand legal certainty and investor protection in Islamic funding through Fintech Securities Crowdfunding. Data collection was carried out through literature study and then analyzed qualitatively to identify patterns, themes and related issues.Results of the Research: Sharia funding through Fintech Securities Crowdfunding in Indonesia provides attractive Islamic investment opportunities but also involves various risks such as business risk, liquidity, legal, sharia, and others. Legal certainty regulated by Financial Services Authorityand Sharia Supervisory Board is the key in providing protection to investors. OJK regulations ensure information transparency and compliance with sharia principles, so that investors can invest with confidence according to sharia values. Thus, an investment ecosystem that has integrity and is inclusive within the sharia framework can be realized.},
				issn = {2614-2961},		pages = {777--789}			doi = {10.47268/sasi.v29i4.1733},
				url = {https://fhukum.unpatti.ac.id/jurnal/sasi/article/view/1733}
		}

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1. Sharia crowdfunding in Indonesia: a regulatory environment perspective
Muhammad Fazlurrahman Syarif, Ahmet Faruk Aysan
Journal of Science and Technology Policy Management year: 2024
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Dublin Core		PKP Metadata Items	Metadata for this Document

1.	Title	Title of document	The Sharia Funding Risk Issues in Fintech Securities Crowdfunding: Realization of Legal Certainty in the Shari'ah Perspective

2.	Creator	Author's name, affiliation, country	Alhadiansyah Alhadiansyah; Faculty of Law Tanjungpura University, Pontianak; Indonesia

2.	Creator	Author's name, affiliation, country	Erni Djun'astuti; Faculty of Law Tanjungpura University, Pontianak; Indonesia

2.	Creator	Author's name, affiliation, country	Sugeng Susila; Faculty of Law Tanjungpura University, Pontianak; Indonesia

2.	Creator	Author's name, affiliation, country	Marnita Marnita; Faculty of Law Tanjungpura University, Pontianak; Indonesia

2.	Creator	Author's name, affiliation, country	Tri Dian Aprilsesa; Faculty of Law Tanjungpura University, Pontianak; Indonesia

3.	Subject	Discipline(s)

3.	Subject	Keyword(s)	Financial Services Authority; Capital Markets; Sharia Investment; Funding.

4.	Description	Abstract	Introduction: In the era of globalization and information technology, fintech is transforming the financial sector, including fintech securities crowdfunding, which is a funding model based on the participation of many small investors. In the context of sharia, sharia principles regulate financial transactions and services, while crowdfunding fintech securities is a popular phenomenon in sharia funding, but requires investor protection regarding investment risk and legal protection.Purposes of the Research: To analyze the legal certainty of protection for investors who invest in Islamic funding through fintech securities crowdfunding in Indonesia and analyze the risks faced by investors in this context.Methods of the Research: This study uses qualitative normative legal research methods to understand legal certainty and investor protection in Islamic funding through Fintech Securities Crowdfunding. Data collection was carried out through literature study and then analyzed qualitatively to identify patterns, themes and related issues.Results of the Research: Sharia funding through Fintech Securities Crowdfunding in Indonesia provides attractive Islamic investment opportunities but also involves various risks such as business risk, liquidity, legal, sharia, and others. Legal certainty regulated by Financial Services Authorityand Sharia Supervisory Board is the key in providing protection to investors. OJK regulations ensure information transparency and compliance with sharia principles, so that investors can invest with confidence according to sharia values. Thus, an investment ecosystem that has integrity and is inclusive within the sharia framework can be realized.

5.	Publisher	Organizing agency, location	Faculty of Law, Universitas Pattimura

6.	Contributor	Sponsor(s)

7.	Date	(YYYY-MM-DD)	2023-11-30

8.	Type	Status & genre	Peer-reviewed Article

8.	Type	Type

9.	Format	File format	PDF

10.	Identifier	Uniform Resource Identifier	https://fhukum.unpatti.ac.id/jurnal/sasi/article/view/1733

10.	Identifier	Digital Object Identifier	10.47268/sasi.v29i4.1733

11.	Source	Title; vol., no. (year)	SASI; Volume 29 Issue 4, December 2023

12.	Language	English=en	en

13.	Relation	Supp. Files	Cek Turnitin (3MB)

14.	Coverage	Geo-spatial location, chronological period, research sample (gender, age, etc.)

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