Rekonstruksi Hukum Ekonomi Syariah terhadap Praktik Buy Now Pay Later dalam Ekosistem E-Commerce di Indonesia

Abstract

The development of e-commerce not only provides ease of transactions but also gives rise to various new payment models designed to increase people's purchasing power. One innovation currently developing rapidly is the Buy Now Pay Later service. The purpose of this article is to determine how the reconstruction of Islamic economic law relates to the practice of Buy Now Pay Later in the Indonesian e-commerce ecosystem. This study uses a qualitative approach with a normative juridical research type. The qualitative approach was chosen to gain a deep understanding of the concepts, principles, regulations, and legal constructions related to the practice of Buy Now Pay Later in the Indonesian e-commerce ecosystem from the perspective of Islamic Economic Law. The results of this study are: first, the reconstruction of BNPL practices with the principles of Islamic economic law. This reconstruction is not intended to eliminate BNPL's function as a digital payment instrument, but rather to improve its legal structure and transaction mechanisms to align with Islamic values. Second, a comprehensive formulation of Islamic law for digital BNPL.  This formulation must include establishing Sharia-compliant contracts, a profit-determining mechanism free from usury, transparent regulation of fees and penalties, and protection of consumer rights. Third, harmonizing positive regulations with Sharia-compliant principles in digital BNPL services. By harmonizing positive regulations with Sharia-compliant principles, it is hoped that a more comprehensive BNPL legal framework will be created, providing legal certainty for service providers and users, and supporting the development of a Sharia-compliant digital economy ecosystem in Indonesia through collaboration with various relevant parties.