Proceedings of the 2022 Brawijaya International Conference (BIC 2022)

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Comparison of Legal Culture on the Imposition of Interest on Online Loans in Indonesia, USA, and China

Authors
Nurhilmiyah1, *, Asliani1
1Universitas Muhammadiyah Sumatera Utara, Medan, Indonesia
*Corresponding author. Email: nurhilmiyah@umsu.ac.id
Corresponding Author
Nurhilmiyah
Available Online 30 April 2023.
DOI
10.2991/978-94-6463-140-1_36How to use a DOI?
Keywords
legal; culture interest; online; loans
Abstract

Legal culture is the most difficult element of the legal system to form because it requires a relatively long period of time. This happens because culture is related to values. What is related to values, definitely requires an internalization process so that the values are not only known, but also practiced in everyday life. In accordance with Lawrence Friedman’s Legal System Theory, the elements being compared are elements of legal substance, legal structure, and legal culture from the aspect of imposing interest on online loans. The attitude of online loan platform organizers, creditors and debtors towards the imposition of loan interest. This is the concern in discussing this legal issue from the aspect of legal culture. Highlighting the legal culture that has emerged around the issue of imposing online loan interest in Indonesia, the United States, and in China. In Indonesia, it is based on the interest rate set by APFI (Indonesian Fintech Joint Funding Association) which is 0.4% per day. The United States refers to the interest rate set by the Fed, which is 0.75% to 1%, and China applies loan interest at 8% to 10% per year.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 Brawijaya International Conference (BIC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
30 April 2023
ISBN
978-94-6463-140-1
ISSN
2352-5428
DOI
10.2991/978-94-6463-140-1_36How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Nurhilmiyah
AU  - Asliani
PY  - 2023
DA  - 2023/04/30
TI  - Comparison of Legal Culture on the Imposition of Interest on Online Loans in Indonesia, USA, and China
BT  - Proceedings of the 2022 Brawijaya International Conference (BIC 2022)
PB  - Atlantis Press
SP  - 362
EP  - 369
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-140-1_36
DO  - 10.2991/978-94-6463-140-1_36
ID  - 2023
ER  -