THE POTENTIAL EXISTENCE OF SHARIA FINTECH LENDING DURING THE COVID-19 PANDEMIC IN INDONESIA

Abstract

The purpose of this research is to analyze the potential of Sharia Fintech Leading based on the
Syariah principle to provide solutions for citizens in need of funds. This is a normative research
carried out to analyze the related to legal material, value, and doctrine to provide answers related
to citizens' legal issues. The statute's approaches are conceptual and comparative laws between
Islam and positive law related to Sharia Fintech Lending in Indonesia. Furthermore, the
Independency of Sharia Supervisory Board (DPS) in implementing its supervisory function over
the product and Sharia Financial Institutions influence the marketed product or services
implemented by Sharia banks in order to fulfill the associated principles. The position and function
of DPS are simply regulated in the National Sharia Council DSN-MUI Articles of Association,
therefore, its operations are in accordance with Islamic work ethics. The results showed that
supervisory was created through an obligation to establish a DPS in every Sharia Financial
Institutions. In addition, the existence of the Sharia Supervisory Board, which supervises products,
and Sharia Fintech is influenced by product or services marketed as well as the activities needed
to fulfill the sharia principal.