THE URGENCY OF SHARIA CROWDFUNDING AS AN ALTERNATIVE FUNDING IN THE DEVELOPMENT OF THE NUSANTARA'S CAPITAL CITY

Abstract

The relocation of Indonesia’s National Capital from Jakarta to Nusantara, East Kalimantan requires a significant investment in the development process, which will be carried out in stages from 2022 to 2045. Sharia crowdfunding is an alternative financing that can be used as a source of funds in the development of the Capital City A new country, so the formulation of the problem in this study examines whether the urgency of Islamic crowdfunding as an alternative to financing the new National Capital. The research method used is normative juridical with two approaches, namely the statutory approach and the conceptual approach. The results of this study indicate that the urgency of sharia crowdfunding as an alternative to financing the National Capital can be seen from two things, namely: first, based on the theory of utilitarianism that sharia crowdfunding can provide good benefits for every individual who invests in this project through a sharia contract with a sharing system results, as well as benefits for common welfare in the context of supporting the development of the new National Capital. Second, in order to maintain assets (hifz al-mal) where through sharia crowdfunding the public can invest to help finance the new State Capital by accessing financing that is in accordance with sharia principles, such as the prohibition of usury (interest), speculation, and illicit activities other.