Legal Review of the Application of Sharia-Based Services in Pawnshops in Strengthening the National Economy

Delsama Lela Nova Risty; Aulia Aninda Ektya Putri; Querida Paraninda Pandan Arum; Tasya Della Sabena; Viola Puti Saptafasya

Authors

Delsama Lela Nova Risty Faculty of Law and Political Science, Muhammadiyah University Surakarta Author
Aulia Aninda Ektya Putri Faculty of Law and Political Science, Muhammadiyah University Surakarta Author
Querida Paraninda Pandan Arum Faculty of Law and Political Science, Muhammadiyah University Surakarta Author
Tasya Della Sabena Faculty of Law and Political Science, Muhammadiyah University Surakarta Author
Viola Puti Saptafasya Faculty of Law and Political Science, Muhammadiyah University Surakarta Author

Keywords:

Sharia Pawnbroking, Alternative Financing, Microfinance, Islamic Finance

Abstract

The Islamic financial system is a rapidly growing alternative in Indonesian society, where the majority of the population is Muslim. One of the financial instruments that plays an important role in supporting microfinance is Islamic pawnshops. This article aims to examine the legal application of the Islamic pawnshop system in Indonesia, both in terms of the regulations that govern it and its practical implementation in the field, as well as the obstacles encountered in its implementation. The approach used is a normative legal approach. This study discusses the implementation of the Islamic pawnshop system in supporting the national economy and the obstacles faced in its implementation. The results of the study show that Islamic Pawnshops have a positive legal basis and Islamic law, and play a strategic role in promoting financial inclusion and community economic empowerment through

providing access to capital, financing based on rahn contracts, and providing financing products specifically designed for the needs of MSMEs. However, there are still challenges in terms of socialization, understanding of sharia contracts, and legal protection for consumers. Therefore, strengthening regulations and increasing literacy in sharia economic law are important aspects in supporting the sustainability of this system as part of national economic development.

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References

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