Research Article
Riba Solutions Through Peer to Peer Lending Using Akad Qardhul Hasan
@INPROCEEDINGS{10.4108/eai.21-9-2019.2293958, author={Marifah Yuliani and Syarifuddin Syarifuddin and Sayugo Adi Puwanto and Ira Indriani and Merlin D}, title={Riba Solutions Through Peer to Peer Lending Using Akad Qardhul Hasan}, proceedings={Proceedings of the 1st Conference on Islamic Finance and Technology, CIFET, 21 September, Sidoarjo, East Java, Indonesia}, publisher={EAI}, proceedings_a={CIFET}, year={2020}, month={5}, keywords={riba solution peer to peer lending qardhul hasan online loan}, doi={10.4108/eai.21-9-2019.2293958} }- Marifah Yuliani
Syarifuddin Syarifuddin
Sayugo Adi Puwanto
Ira Indriani
Merlin D
Year: 2020
Riba Solutions Through Peer to Peer Lending Using Akad Qardhul Hasan
CIFET
EAI
DOI: 10.4108/eai.21-9-2019.2293958
Abstract
One sort of activity that contravene the principles of Islamic economics, which is violated today is the widespread practice of usury. Using smartphone as one of the advance technology enable for anyone to extend loans without collateral through financial technology (fintech) in the form of online loans. The amount of interest on online loans makes many people entangled with interest/usury because the people who initially could not be served by banks and industry financial institutions, through online loans can borrowed even without collateral. Though Islam since 1400 years ago has provided a solution to the problem of usury. That is the availability of a good loan or also known as qardhul hasan which is provides loans without interest, especially supported by peer to peer lending technology where a borrower only pays the principal and it is not burdened with administrative costs. Through peer to peer lending using the qardhul hasan contract can be a solution of the usury problem on community loans in financial institutions and online loans.