Islamic Rulings and Financial Technology (Fintech): An Analysis on the Relevance and Implications

Industrial Revolution 4.0 has produced rapid technological developments to support the ease of human activity in all lines of life. In the economic and financial fields, this development is known as financial technology, commonly known as Fintech. Like two sides of a coin, financial technology offers ease of service in transactions, time efficiency, transaction flexibility, to increase financial literacy and information technology for the public. Conversely, some of the negative impacts of this financial technology include, the increasing culture of consumerism, hedonism to the practice of new style moneylenders that determine highinterest rates for borrowers online, as well as ways of billing outside the fair range. This study aims to conduct an in-depth analysis related to the role of Islamic rulings in the development of financial technology. The conclusions of this study are some of the roles of Islamic rulings in developing financial technology divided into three key aspects; first, as a preventive mechanism to avoid fraud transactions. Second, as a moral guide (ethical guidelines) to maintain that all transactions prioritize the principles of honesty and compliance with sharia principles. Third, as a means of socializing Islamic rulings (muamalah fiqh), especially in transactions that use financial technology instruments.