ABSTRACT
Online peer-to-peer (P2P) lending with sharia principles was approved by the fatwa of the Indonesian Ulema Council in 2018. However, the implementation of the profit-sharing principle still leaves misgivings for consumers. This study aims to analyze the practice of mudarabah contracts in P2P lending at PT Ammana Fintech Indonesia. Triangulation qualitative research was conducted by interviewing PT Ammana, partners, and several MSMEs that had been financed. The results of the analysis of numerous informants and the analysis of documents show that overall, the practices carried out by PT Ammana are not all in compliance with sharia principles.
