Implementation of Sharia Principles in Fintech Usage by MSME Actors in Cirebon Regency
Keywords:
Sharia Principles, Sharia Fintech, MSMEsAbstract
The development of digital financial technology, or Sharia fintech, has brought significant transformation to the financing ecosystem for micro, small, and medium enterprises (MSMEs) in Indonesia. This research aims to analyze the implementation of Sharia principles in fintech usage by MSME actors in Cirebon Regency, identify factors influencing the level of compliance with Sharia principles, and evaluate its contribution to enhancing business efficiency and sustainability. The study employs a qualitative approach with a case study design, involving five MSME actor informants selected through purposive sampling technique. Data collection techniques were conducted through in-depth interviews, participatory observation, and documentation, then analyzed using the Miles and Huberman interactive model with stages of data reduction, data display, and conclusion drawing. Research findings indicate that the implementation of Sharia principles in fintech usage has been well-executed through the application of Sharia contracts such as mudharabah, musyarakah, and murabahah with transparent profit-sharing systems. Factors influencing compliance include Sharia financial literacy, DSN-MUI regulatory support, digital infrastructure, and socio-cultural norms of the Muslim community in Cirebon. The use of Sharia fintech provides significant contributions with business revenue increases of 20-35 percent, operational efficiency through automatic financial recording, and enhanced financial literacy that promotes sustainable economic empowerment for MSME actors in Cirebon Regency
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