Execution Confiscation of Peer-to-peer Landing (Fintech Sharia) Customer-Owned Assets by the West Jakarta Religious Court

On Tuesday, March 14 2023, Alhamdulillah, the West Jakarta Religious Court has placed a Collateral Seizure (Conservatoir Beslaag) for a delegation from the Cibinong Religious Court for immovable property belonging to Defendant II (Customer Financing Guarantor) in the form of an Apartment object located in Kelapa Dua Village , Kebon Jeruk District, West Jakarta City.

The execution of the confiscation was attended by the Dewan Syam & Partners Law Firm Team as the Plaintiff's Attorney, Bailiff at the West Jakarta Religious Court, Plt. Secretary of Kelapa Dua Village, witnesses, as well as local Babinsa and Bhabinkamtibmas officials, without the presence of the Defendant.

Most of the financing with peer to peer landing carried out by Financial Technology (Fintech) companies, even with Financing Contract schemes with Sharia Principles, does not include a specific collateral object, so that in the process of recovering losses, Islamic fintech companies must trace the assets of the guarantor (kafiil) or the beneficiary. Financing first then attract guarantor assets (kafiil) in lawsuits in the Religious Courts.