Vol. 4 No. 2 (2025): Al-Faruq : Jurnal Hukum Ekonomi Syariah dan Hukum Islam

The circulation of counterfeit money threatens the stability of the Indonesian economy. This study aims to analyze the role of financial technology in preventing the circulation of counterfeit money at UIN Alauddin Makassar from the perspective of sharia law, through a literature study from various sources. The method used is a qualitative approach with a literature study approach from scientific journals, books, and trusted sources related to financial technology and sharia law. The results of the study show that fintech, through innovations such as digital wallets and peer-to-peer lending, can be an effective preventive strategy in minimizing cash transactions and risks such as the circulation of counterfeit money, but its implementation must be in accordance with sharia principles, such as the prohibition of usury and transparent transactions. Thus, financial technology has great potential to prevent the circulation of counterfeit money and its development needs to be supported by increased digital literacy and collaboration between stakeholders to create a more stable and reliable financial system whose implementation is in accordance with the provisions of sharia law.

This study aims to examine the research gaps and legal protection for customers in the practice of Baitul Maal wat Tamwil (BMT) in Indonesia. The main research question is: to what extent has the scientific literature from 2019 to 2024 discussed customer legal protection in BMT and what gaps remain unexplored? This research uses a Systematic Literature Review (SLR) method by collecting and analyzing articles from databases such as Google Scholar, DOAJ, and Garuda. The review of eleven articles reveals that discussions are still mostly normative, lack empirical data, and have not addressed customer participation or the role of technology. The study recommends more field-based research, digital system integration, and the establishment of a Sharia-based Deposit Insurance Institution (LPS) as concrete solutions. This study is expected to serve as a basis for developing consumer protection policies in the Islamic microfinance sector.

Sharia insurance is an essential component of the Islamic financial industry and holds significant growth potential in Indonesia, the country with the largest Muslim population in the world. Despite this potential, the market penetration of sharia insurance remains low compared to conventional insurance. This study aims to analyze the various factors influencing the growth of sharia insurance in Indonesia. The method used is a qualitative descriptive literature review, with data sourced from books, journals, official reports, and other relevant documents. The findings reveal several key drivers of growth, including education and income levels, the increasing number of sharia insurance units, effective marketing strategies, digitalization of services, clear regulatory support, and improved financial literacy among the population. The study also identifies opportunities such as collaboration with fintech companies and increased accessibility through digital technology. However, challenges include low public literacy, limited professional human resources, and insufficient product promotion. The implications of this study emphasize the need for synergy among the government, industry, academia, and society to develop effective strategies for expanding the reach and building trust in sharia insurance. With the right approach, sharia insurance in Indonesia can grow in a sustainable and inclusive manner.

Islamic Social Finance (ISF) is a vital instrument in promoting economic justice in Islam through the management of zakat, infaq, sadaqah, and waqf (ZISWAF). In Southeast Asia, Muslim-majority countries such as Indonesia, Malaysia, and Brunei have developed national-level ISF systems. However, regulatory fragmentation, the absence of cross-border coordination, and suboptimal technological integration remain significant barriers to collective efforts aimed at empowering the Muslim community at the regional level. This research designs an adaptive and sustainable regional synergy model in strengthening Islamic Social Finance in Southeast Asia. The research employs a descriptive qualitative approach, relying on in-depth literature analysis of regulations, institutional reports, and academic publications in the field of Islamic social finance. Data were analyzed using content analysis to identify challenges and opportunities for inter-country collaboration and to develop a conceptual framework for cross-border synergy. The findings reveal a high potential for ISF in the region, supported by a large Muslim population, active managing institutions, and advancing digitalization in several countries. Nonetheless, disparities in legal systems, lack of data sharing, and the dominance of national approaches serve as major constraints. This article proposes the establishment of a synergy model consisting of a regional coordinating institution, a Southeast Asia ISF data center, and a shared digital platform for managing cross-border ZISWAF funds. The study recommends ASEAN support in creating a regional legal framework for ISF, the development of cross-national human resources, and collaborative research to ensure effective and sustainable implementation.

The high rate of copyright infringement in Indonesia, particularly concerning musical works, reflects a paradox between Islamic values that uphold justice and prevailing social practices that neglect the economic rights of creators. This study aims to evaluate the protection of the economic rights of songwriters under Law No. 28 of 2014 and Government Regulation No. 56 of 2021 through the lens of maqāṣid al-syarī‘ah. Employing a normative juridical approach and qualitative analysis of statutory regulations alongside classical and contemporary Islamic legal thought, the study finds that Indonesia’s copyright regulations align substantially with the principle of ḥifẓ al-māl (protection of wealth) and other core objectives of Islamic law. The protection encompasses exclusive rights, licensing procedures, and a royalty management system administered by collective management organizations. The findings highlight the importance of integrating positive law with Islamic ethical values to build a just, sustainable, and welfare-oriented legal framework. The implications of this study are expected to strengthen legal legitimacy, enhance public awareness, and encourage policymakers to adopt more proactive measures in protecting copyright.