Recently, there has been a surge in cases related to online loans. Numerous reports have emerged, indicating that the harm caused by online loans often outweighs their benefits. The dangers of online loans are highlighted across various media platforms, showing users being terrorized by loan providers. There have even been recent reports of a customer committing suicide due to the inability to repay and subsequent harassment from the loan provider. The risks associated with this borrowing system are significant.
Indeed, there are some legal online lending services authorized by the Financial Services Authority (OJK). However, it’s crucial to be cautious of the dangers of online loans to avoid harm. With enticing promises and promotions, one can easily be trapped by the alluring offers of online loans. The ease of registration has made this activity widespread in Indonesian society, often without regard for the impending dangers and the overwhelming debt that may follow.
In the process of online loans, there’s typically a set deadline for repayment. Failure to pay on time can lead to relentless pursuit by the loan provider, including harassment and sharing of the borrower’s private data with their acquaintances. The high interest rates often make the harm of online loans far greater than their benefits. This is the visible danger of online loans.
Islamic Law and the Dangers of Online Loans
In Islam, borrowing and lending are not forbidden, as long as they benefit both parties. According to cnbcindonesia.com, which cites the book “Islamic Banking: From Theory to Practice” by Muhammad Syafi’i Antonio, the term ‘borrowing and lending’ is somewhat inappropriate in Islamic banking for two reasons. First, loans are one of the financial relationships in Islam, with various methods available in Sharia, such as sales, leasing, profit sharing, and others.
Secondly, in Islam, borrowing and lending are considered social contracts, not commercial ones. Ideally, there should be no conditions or terms when someone borrows something, like additional interest or other charges on the principal. This is based on a hadith of Prophet Muhammad SAW, stating that any loan that brings profit is considered usury (riba), and usury is unanimously agreed upon by scholars as forbidden in Islam.
Baca juga: Investasi Syariah Online, untuk Muslim yang Ingin Cuan Tanpa Riba
Online Loans According to the Fatwa of the Indonesian Ulama Council (MUI)
The Indonesian Ulama Council (MUI) has also determined that online loan activities do not comply with Islamic law. In the Ijtima Ulama Fatwa of MUI, it was established that online loan activities are forbidden due to the involvement of usury, threats, and exposing the secrets or faults of borrowers to others. The MUI fatwa states that fundamentally, borrowing or debt is a form of charitable contract (tabarru’) based on mutual help, recommended as long as it does not contradict Sharia principles. Moreover, loan services, whether online or offline, that involve usury are deemed haram, even if carried out consensually.
Usury is also mentioned in Surah Al-Baqarah, verse 275, which says:
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
Meaning: “God has permitted trade and forbidden usury.”
It is clearly stated in the Qur’an that transactions involving usury are forbidden. The way money is obtained through online loans also leads people to neglect efforts to meet their financial needs. As humans, especially Muslims, we are asked to strive and work to achieve and obtain what we want and to meet our needs.
