Afif Noor, Dwi Wulandari, Haniff Ahamat, Ismail Marzuki, Akhmad Arif Junaidi, Mahsun, Rokhmadi
Islamic debt-based crowdfunding is one type of crowdfunding based on Islamic law or Sharia principles. As part of Islamic economic activities, the parties (lenders, borrowers, and Islamic debt-based crowdfunding platforms) must comply with the rules of Islamic law (Sharia compliance) in economic activities such as the prohibition of cheating, lying, usury, speculation, objects of unclear agreements and prohibition of conducting transactions that violate other laws. This study aims to determine the legal construction of lender and borrower agreements in Islamic debt-based crowdfunding. The research is classified as empirical juridical research that uses primary data from interviews and surveys as well as secondary data sourced from library research. The data obtained were systematized and processed for in-depth analysis using descriptive analysis. The results show that there are two forms of agreement in Islamic debt-based crowdfunding, namely the agreement between the lender and the Islamic debt-based crowdfunding platform and the agreement between the lender represented by the platform and the borrower. The agreement between the lender and the Islamic debt-based crowdfunding platform uses wakalah bil ujrah, while the agreement between the lender represented by the Islamic debt-based crowdfunding platform and the borrower uses a debt-based agreement based on factoring, an agreement based on buying and selling (murabahah), a capital partnership agreement (mudharabah and musharakah) as well as service-based agreements (ijarah).
Agreement, Islamic Debt-based Crowdfunding, Regulation, Lender, Borrower
Cite this paper
Afif Noor, Dwi Wulandari, Haniff Ahamat, Ismail Marzuki, Akhmad Arif Junaidi, Mahsun, Rokhmadi. (2021) Agreements on Islamic Debt-based Crowdfunding in Indonesia. International Journal of Economics and Management Systems, 6, 605-610