FH UNAIR National Seminar Discusses Crowdfunding

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Seminar on Crowdfunding at UNAIR
Speakers in national seminar "Crowdfunding Legal Problems in Property Sector", at Mercure Grand Mirama Hotel, Saturday, December 8. (Doc. Committee)

UNAIR NEWS – If you dream of becoming a big businessman but financially constrained, financial technology ( fintech ) services can be the solution. The crowdfunding platform attracts the attention of the world because the web-based platform offers project financing without intermediaries of financial institutions, such as banks, finance companies, Corporate Social Responsibility (CSR). Businessmen utilize public interference to raise funds for a project via the internet.

Unfortunately in Indonesia, the term crowdfunding is not familiar. The success of crowdfunding project in Indonesia itself is still low. Specifically in the property sector, only 2 projects out of many listed projects managed to raise funds. The reasons are varied, such as anonymity with fraud risk, offline or broken platforms, less accurate platform sites, and so on.

To deal with these problems, Faculty of Law Universitas Airlangga held a national seminar on “Crowdfunding Legal Problems in Property Sector”. The National Seminar was held at Mercure Grand Mirama Hotel, Saturday, December 8.

The seminar presents reliable speakers in their fields, Dr. Cita Yustisia Serfiyani, S.H., M.H. as an author and researcher on crowdfunding ; Wahyudi Suyanto, S.H. as notary and PPAT Surabaya; Financial Services Authority; Ethis Crowd; and Prof. Dr. H. Moch. Isnaeni, S.H., MS as a professor of FH UNAIR.

In the first session, Dr. Cita Yustisia Serfiyani delivered a presentation about crowdfunding investment characteristics in property sector. She explained how real estate crowdfunding works. From investors provide funds to site managers, site managers manage funds collected, and site managers sell property after a certain ideal period of time.

“Crowdfunding in property sector adopts peer to peer lending method or commonly called the P2P (provesty) platform. Provesty connects property companies to facilitate the investment audience in property sector,” said Cita Yustisia.

The scope of the discussion was then narrowed down by the Financial Services Authority (OJK) with crowdfunding regulation in Indonesia. OJK’s role is to overcome the risk of crowdfunding failure by regulating businessmen through the Regulatory Sandbox.

The discussion went on to Ethis Crowd, one of the platforms that succeeded in gaining success using the Islamic Sharia-based system. Furthermore, Wahyudi Suyanto S.H. discussed the legal problems of crowdfunding in property sector. He explained about the problem of investor law, articles governing investors, and others problems.

At the end of the material, it was closed by Prof. Dr. H. Moch. Isnaeni, S.H., M.S. On that occasion he explained the contractual aspects of crowdfunding in property sector.

“The crowdfunding contract has a bright future as one of the models for mobilizing funds to the community,” concluded Prof. Moch. Isnaeni. (*)

Author: Tunjung Senja Widuri

Editor: Binti Q. Masruroh


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