Sharia Based Digital Business Models Related to Challenges and Opportunities in Realizing Sharia Compliance in Indonesia

Abstract

The challenges in implementing sharia compliance in digital business models in Indonesia have a significant impact on the development of the sharia fintech industry and sharia-based digital services as a whole. Problems include limited regulations specific to sharia fintech, lack of human resources with expertise in technology and sharia, constraints on adequate technological infrastructure, and issues of transparency and gharar (uncertainty). In addition, challenges arise in public acceptance and education related to sharia digital products, especially in collaboration with third parties that need to be carried out carefully to remain in accordance with sharia principles. This research aims to find practical solutions to support the growth of digital businesses that remain aligned with sharia values in Indonesia. The main method used is desk research, which relies on literature sources, such as reference books, journal articles, and relevant periodicals, to obtain data to understand the challenges in implementing sharia compliance in digital business models in Indonesia. The results of this study identify several key aspects of implementing sharia compliance in digital business models in Indonesia, which face complex challenges due to technological transformation and changing consumer expectations. These challenges can be overcome through collaboration between industry players, regulators and sharia institutions to build a sharia-friendly digital ecosystem and ensure accessibility, trust and sustainability of sharia-based businesses in the digital era.