Assessing Virtual Market Justice: The Potential of Ihtikar and Gharar on Digital

Abstract

The rapid development of the digital economy has positioned e-commerce platforms as crucial accelerators for Micro, Small, and Medium Enterprises in Indonesia, while simultaneously presenting challenges of potential market distortion mediated by dominant algorithmic power. This research aims to assess virtual market justice by analyzing the potential for ihtikar and gharar on digital platforms amidst inflation. Using a qualitative method with a library research approach, this study examines how algorithmic mechanisms can create market distortions. The research findings indicate that; virtual market justice is threatened by systematic anti-competitive practices such as algorithmic discrimination; ihtikar and gharar on digital platforms manifest as a monopoly on market access and operational uncertainty due to 'black box' mechanisms; and the digital inflation contribution is evident in how these distortionary practices exacerbate the negative impacts of inflation on MSMEs and consumers. This study concludes that there is a fundamental conflict between current platform business models and the Islamic principle of justice, thereby recommending the strengthening of the regulator's role as a form of modern hisbah.