PERAN FATWA EKONOMI SYARIAH DALAM PENGEMBANGAN PRODUK KEUANGAN SYARIAH DAN PERLINDUNGAN KONSUMEN

Abstract

This study aims to analyze the strategic role of sharia economic fatwas issued by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) in the development of Islamic financial products and consumer protection in Indonesia. By using a qualitative approach through literature study and normative-juridical analysis. The results showed that fatwa not only serves as a normative legal basis, but also as an operational guideline in the innovation of financial products and services in accordance with sharia principles. Fatwas also play an important role in protecting consumer rights, especially in digital transactions such as sharia fintech, through clarity of contracts, fair risk sharing, and transparency of information. However, its implementation faces various obstacles such as low levels of public literacy, slow response to technological innovation, regulatory disharmony between institutions, and limited capacity of the Sharia Supervisory Board (DPS). To overcome these problems, this study recommends strengthening strategies through digitizing the fatwa system, increasing the competence of the Sharia Supervisory Board, strengthening synergies between regulatory agencies, implementing digital technology-based public education, and issuing contemporary fatwas that are adaptive to the dynamics of the times.