AN ANALYSIS OF ONLINE MONEY LENDING PRACTICES USING THE GRAB MODAL FEATURE FROM THE PERSPECTIVE OF MUAMALAH FIQH

Abstract

Advances in financial technology (fintech) have transformed the public’s access to financial services through the emergence of various digital financing platforms. One such service is the Grab Modal feature, which provides loan facilities to Grab partners to meet their productive needs, such as business capital, vehicle operating costs, and other work-related expenses. The ease of access offered by the app is appealing to the public, particularly workers in the informal sector. However, these digital lending mechanisms need to be examined more thoroughly from the perspective of fiqh al-muamalah, especially regarding the form of the contract, cost transparency, the repayment system, and the possibility of elements that conflict with Sharia principles, such as riba, gharar, and dharar.. This study aims to analyze the practice of online lending through the Grab Modal feature used by Grab partners in Mataram City and to assess its compliance with the principles of muamalah fiqh. This study employs a descriptive qualitative approach using the case study method.. The research data was collected through interviews, observations, and documentation of Grab partners who use the Grab Modal feature in Mataram. The data was analyzed using concepts from muamalah fiqh, specifically regarding the qardh contract, the principle of justice, the principle of transparency in transactions, and the prohibitions against riba, gharar, and dharar.. The research findings indicate that the Grab Modal feature makes it easy for partners to obtain financing quickly and conveniently; however, in practice, there are still aspects that require Sharia review, particularly regarding additional fees and payment mechanisms linked to partners’ income. These conditions underscore the importance of transparency regarding contract terms and the management of financing systems so that digital lending services can operate in accordance with the principles of fairness, benefit, and the provisions of Islamic commercial law.