Relevance of Islamic Economic Jurisprudence to the Digital Financial Ecosystem, Compliance Analysis, and Implementation Challenges

Abstract

This study aims to analyze the relevance of Islamic economic jurisprudence to the digital financial ecosystem by examining the level of compliance and the implementation challenges within sharia fintech services. The research employs a qualitative method with a case study design, as it seeks to understand the phenomenon in depth and within its contextual setting. The selection of this method and design is based on the need to explore the dynamics of applying sharia principles in a complex and rapidly developing digital system. The study was conducted on a sharia fintech platform in Jakarta, given the city’s position as a national hub for financial technology development. The research involved five informants, consisting of a sharia compliance manager, a digital risk analyst, an internal auditor, a sharia advisor, and a user, selected because they represent key actors in the digital sharia compliance process. The findings reveal that sharia compliance in fintech is influenced by the clarity of digital contracts, the level of system security, and users’ understanding of sharia values. The study also identifies regulatory gaps related to digital risks that are not yet fully addressed within existing sharia guidelines. The recommendations emphasize the need for a digital risk–based sharia compliance framework, enhanced sharia-digital literacy, strengthened technological audits, and interdisciplinary collaboration to support the sustainability of sharia digital finance.