Opportunities and Challenges of Sharia Financial Technology Governance in Indonesia: A Literature Review

Nadi Azkia Ali Alfathimi

Abstract


The purpose of this study is to provide an overview of the opportunities and challenges of financial technology governance in Indonesia. The method used in this study is a literature review, which is to analyze and review various scientific journals, both national and international journals published in the last 10 years and filtered as many as 30 articles related to sharia fintech. The results of this study indicate thatsharia fintechalready present in Indonesia are sharia Peer to Peer lending (P2P), payment services (sharia clearing and settlement), sharia e-aggregators as well as sharia risk management and investment. As for opportunitiesfintechSharia law in Indonesia has such great potential to develop, this can be seen from various factors, namely, the large number of Muslim population in Indonesia so that the market share of fintech services is very clear, supported by the existence of sharia institutions that already exist in Indonesia and various companies providing services. supporting technology. Meanwhile, the challenges of sharia fintech in Indonesia, namely the unequal mastery of technology in society, fears of the rise of cyber crime and the most significant is the absence of special laws related to the implementation of sharia fintech in Indonesia.

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