Abstract
Proportionality is a legal principle not only requires equility of the rights and obligations among parties based on competing values, but also has purpose to deliver justice among parties. This principle is in line with the Al Musawah principle in the Islamic contract or agreement which it also has the same goal: ad ‘adl wa tawazun. This principle is the implementation of the principle of good faith, the principle of transactions based on honesty including in terms of determining the profit margin. The research significance are to provide enhance knowledge about proportionality principle in Islamic crowdfunding in Indonesia, especially in financing contract in Islamic financial technology as a new business innovation scheme. This paper in order to promote the impartial perception and to harmonize the Islamic law and Indonesian laws. The type of the research is legal research. The research methods apply the conceptual approach to the the Islamic crowdfunding under proportionality principle in financing contract.
Highlights
The Islamic crowdfunding is a hybrid business innovation model that integrates between the concept ethics business of Islamic finance institutions and crowdfunding as one of fundraising innovation model of finance technolgy
More over this paper compared among proportionality principle in contract law perspective and al musawah principle as one of legal principle in Islamic contract (Islamic uqud)
The application of proportionality principles in Islamic banking can be applied in Islamic crowdfunding, which aims to create the following principles: (1) Justice, namely sharing profits on the basis of real sales according to the contributions and risks of each party
Summary
This fatwa contains provisions that are prohibited in sharia financing service based information technology, including riba (an additional given in the exchange of riba goods/riba fadl or additional that is agreed upon in the principal debt in return for the suspension of payment in absolute terms/riba nasi'ah); gharar (an uncertainty in a contract, either regarding the quality or quantity of the object of the contract or about its submission); maysir (every contract that is carried out with unclear objectives, and inaccurate calculation, speculation, or profit); tadlis (the act of hiding the object's contract disability done by the seller to trick the buyer as if the object of the contract is not defective); and dharar (an action that can cause harm or loss to another party). More over this paper compared among proportionality principle in contract law perspective and al musawah principle as one of legal principle in Islamic contract (Islamic uqud)
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