Consumer Legal Protection Against Standard Clauses in Contemporary Peer-To-Peer Lending: An Islamic Economic Law Perspective

Denny Suwondo; Arpangi; Umar Ma'ruf; Rakhmat Bowo Suharto; Mamoon Suliman Alsmadi

doi:10.32332/milrev.v5i2.12643

Authors

Denny Suwondo Faculty of Law, Sultan Agung Islamic University, Indonesia
Arpangi Faculty of Law, Sultan Agung Islamic University, Indonesia
Umar Ma'ruf Faculty of Law, Sultan Agung Islamic University, Indonesia
Rakhmat Bowo Suharto Faculty of Law, Sultan Agung Islamic University, Indonesia
Mamoon Suliman Alsmadi Ajloun National University, Jordan

DOI:

https://doi.org/10.32332/milrev.v5i2.12643

Keywords:

Consumer Legal Protection; Islamic Economic Law; Peer-to-Peer Lending; Standard Clauses; Transparency.

Abstract

The rapid expansion of peer-to-peer (P2P) lending has significantly transformed financial inclusion by providing accessible digital financing for individuals and micro-enterprises. However, this development has also intensified legal concerns about the widespread use of standard clauses that often put consumers in a weaker bargaining position, thereby increasing the risk of unfair contractual practices. This study aims to examine the effectiveness of consumer legal protection against standard clauses in contemporary P2P lending agreements and to evaluate their conformity with the principles of Islamic economic law. Employing a qualitative field research approach, the study collected primary data through in-depth interviews with P2P lending consumers, platform operators, legal practitioners, Islamic law scholars, and financial regulators, complemented by observations and document analysis of digital lending agreements and relevant regulatory frameworks. The data were analysed using thematic and normative legal analysis to identify patterns of legal protection and assess the compatibility of contractual practices with Islamic legal principles. The findings reveal that although existing financial regulations provide a formal legal framework for consumer protection, standard clauses continue to create substantive imbalances by limiting consumer rights, expanding platform discretion, and reducing contractual transparency. From the perspective of Islamic economic law, several contractual provisions are inconsistent with the principles of justice (al-’adl), transparency (al-shafāfiyyah), mutual consent (al-riḍā), and the prohibition of exploitation (ẓulm), thereby undermining the ethical foundations of Islamic commercial transactions. The study argues that effective consumer protection requires not only stronger regulatory enforcement but also the integration of Islamic legal values into digital financial governance. This research contributes to the development of contemporary Islamic economic law by proposing a proportional consumer protection framework that harmonises positive law with Sharia principles, thereby promoting equitable, transparent, and sustainable P2P lending practices in the evolving digital financial ecosystem.

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