Equity Crowdfunding Digital Dalam Timbangan Maqashid Syariah: Studi Atas Kepastian Hukum Dan Perlindungan Investor di Indonesia

Authors

  • Hendra Syahputra Munthe UIN Sunan Kalijaga Yogyakarta, Indonesia.
  • Fitri Madani UIN Sunan Kalijaga Yogyakarta, Indonesia.

DOI:

https://doi.org/10.30651/mqsd.v15i1.31049

Abstract

Studi ini meneliti hubungan antara kepastian hukum dan prinsip-prinsip maqashid syariah dalam praktik equity crowdfunding (ECF) di Indonesia, menyoroti lemahnya perlindungan investor meskipun platform tersebut berlisensi OJK. Studi ini mencakup semua penyelenggara ECF resmi dan kontrak elektronik yang mendasari transaksi. Data primer dikumpulkan dari peraturan OJK dan dokumen kontrak, sedangkan data sekunder dari putusan pengadilan, berita, dan publikasi ilmiah. Penelitian ini menggunakan metode kualitatif deskriptif dengan pendekatan yuridis empiris untuk mengevaluasi implementasi aturan ECF berdasarkan standar kepastian hukum Gustav Radbruch dan nilai-nilai maqashid syariah. Data dikumpulkan melalui observasi dan dokumentasi, kemudian dianalisis melalui reduksi, presentasi, dan penarikan kesimpulan. Temuan menunjukkan kepastian hukum tidak terwujud karena tumpang tindih norma antara POJK No. 57/2020, POJK No. 16/2021, dan peraturan sektoral, yang membuat peraturan menjadi ambigu, tidak konsisten, dan tidak dapat diprediksi. Praktik ECF juga kurang memiliki perlindungan yang memadai, terlihat dalam sengketa informasi, tanggung jawab, dan masalah validitas kontrak elektronik yang mengganggu keadilan. Dari sudut pandang maqashid syariah, mekanisme ini gagal melindungi harta benda, akal budi, dan kedamaian batin. Kebaruan penelitian ini terletak pada penggunaan kerangka kerja terintegrasi dari teori kepastian hukum Radbruch dan syariah maqashid untuk menilai regulasi ECF. Implikasinya adalah perlunya regulasi yang koheren di bawah satu payung hukum untuk menghilangkan ambiguitas dan memperkuat perlindungan investor demi kepastian hukum yang adil dan selaras dengan syariah.

 

Kata Kunci : Equity Crowfunding, Maqashid Syariah, Kepastian Hukum, Perlindungan Investor.

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Published

13-03-2026

Issue

Vol. 15 No. 1 (2026): Maqasid: Jurnal Studi Hukum Islam

Section

Artikel

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Copyright (c) 2026 Hendra Syahputra Munthe Putra

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