The Role of Ijtihad and the Development of Sharia Financial Technology Products in Indonesia

Pelu, Ibnu Elmi A.S. and Dakhoir, Ahmad (2019) The Role of Ijtihad and the Development of Sharia Financial Technology Products in Indonesia. In: The Role of Ijtihad and the Development of Sharia Financial Technology Products in Indonesia, 21st Sep 2019, Sidoarjo.

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Abstract

This paper explores the role and significance of ‘ijtihad’ in the development of Islamic financial technology products in Indonesia. The research methods used philosophical and conceptual approaches. Based on the analysis, this paper concludes that Islamic finance technology has a positive role in encouraging the growth of assets of Islamic financial institutions and Islamic banking. The trend of the development of Islamic
financial products has turned out to be linear with the growth of the spirit of "ijtihad" through the 120 DSN-MUI fatwas, including the issuance of fatwas that regulate of financial technology. According to epistemological level, the issuance of the financial technology fatwa shows that "ijtihad" DSN-MUI is in accordance with the spirit of progressive law,that the fatwa serves as the legitimacy of fiqh in the development of contemporary financial products in Islamic banking.

Item Type: Conference (Paper)
Subjects: 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150299 Banking, Finance and Investment not elsewhere classified
Divisions: Perpustakaan Pusat
Depositing User: puttry puttry
Date Deposited: 05 Jan 2021 02:44
Last Modified: 05 Jan 2021 02:44
URI: http://digilib.iain-palangkaraya.ac.id/id/eprint/2658

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