Sharia Fintech and Legal Protection in P2P Transactions

Abstract

This study employs a normative approach to analyse the
legal protection of Islamic fintech in peer-to-peer (P2P)
transactions. The normative approach entails examining
relevant sharia regulations and principles by referring to the
results of linear regression tests between the effects of equity
(X1) and liabilities (X2) on sharia fintech assets (Y). This
research utilises normative legal research methods, library
research data collection techniques and linear regression tests.
The literature data was analysed using content analysis in order
to gain an understanding of the sharia regulations and principles
related to sharia fintech and P2P. A linear regression test was employed in order to test the relationship between the variables
X1, X2, and Y, and to develop a regression model. The findings
of this study indicate that the trend of TWP90 during January
March 2024 suggests an increase in the percentage of loan
defaults through fintech within 90 days from January 2024 to
March 2024. This has negative implications for ROA. The
observed increase in this variable has the potential to weaken the
financial stability of fintech and to reduce the legal protection of
Islamic fintech investors. Consequently, a comprehensive
Islamic fintech regulation is required for the sustainable
development of Islamic fintech