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All Journal Nusantara: Journal Of Law Studies MILRev: Metro Islamic Law Review
Hani Mefleh O. Hamdon
Ajloun National University, Jordan
Religion Humanities Law, Crime, Criminology & Criminal Justice Social Sciences

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Operationalizing Contemporary Istiḥsān: A Methodological Framework for Navigating Innovation in Capital and Digital Markets Husni; Yengkie Hirawan; Musda Asmara; Naim Mathlouthi; Rohmah Maulidia; Hani Mefleh O. Hamdon
MILRev: Metro Islamic Law Review Vol. 5 No. 2 (2026): MilRev: Metro Islamic Law Review
Publisher : Faculty of Sharia, UIN Jurai Siwo Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/milrev.v5i2.12226

Abstract

The application of istiḥsān in the digital economy continues to face challenges related to subjectivity and the lack of methodological transparency. This study aims to formulate a seven-stage istiḥsān operational model as a structured framework for enhancing accountability in Sharia economic legal reasoning. Employing a critical juridical-normative approach grounded in legal coherence theory, the proposed model provides objective criteria to guide mujtahids in determining exceptional legal rulings. The model was validated through two strategic case studies: (1) a retrospective analysis of Sukuk instruments and (2) a prospective analysis of Non-Fungible Tokens (NFTs). The findings demonstrate that the model successfully reconstructs the implicit legal reasoning underlying established Sukuk fatwas, thereby confirming its retrospective consistency. Prospectively, when applied to NFTs, the model functions as a rigorous evaluative filter that permits innovation only when the anticipated maṣlaḥah outweighs the potential mafsadah. In cases where secondary harms—such as the environmental costs associated with energy consumption and speculative market bubbles—predominate, the model justifies restricting such innovations. This study makes a significant academic contribution by transforming contemporary istiḥsān from an abstract jurisprudential concept into a replicable, transparent, and auditable analytical framework. It demonstrates that structured ijtihād provides a robust governance mechanism for fostering ethical, accountable, and sustainable Sharia-compliant innovation in global capital markets.
The Legal Position of Individual Limited Liability Companies in Land Ownership: Towards the Realization of Agrarian Justice Putra Hutomo; Mohamad Ismed; Yuhelson Yuhelson; Henry Aspan; Irawan Soerodjo; Hani Mefleh O. Hamdon
Nusantara: Journal of Law Studies Vol. 5 No. 2 (2026): Nusantara: Journal of Law Studies
Publisher : PT. Islamic Research Publiser

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66325/nusantaralaw.v5i2.379

Abstract

The recognition of Individual Limited Liability Companies under Indonesia’s Job Creation Law has expanded access to corporate legal personality for micro and small enterprises. However, this reform has not been adequately harmonized with the national agrarian legal framework, raising questions about whether these companies are eligible to hold land rights. This study examines the legal position of Individual Limited Liability Companies as subjects of land rights and develops a regulatory model that reconciles corporate legal personality with the principles of Indonesian agrarian law. It employs doctrinal legal research using statutory, conceptual, and comparative approaches. Primary legal materials comprise legislation governing limited liability companies, the Job Creation Law, the Basic Agrarian Law, and relevant implementing regulations. The analysis applies statutory interpretation, systematic legal reasoning, and the principles of legal certainty and separate legal personality. The findings reveal regulatory disharmony between corporate and agrarian law. Although an Individual Limited Liability Company has separate legal personality, this status does not automatically qualify it to hold land ownership rights, which are restricted to Indonesian citizens and legally designated entities. Nevertheless, such companies may qualify to hold cultivation rights, building rights, and rights of use, subject to the applicable statutory requirements. This study proposes a differentiated entitlement model that clarifies eligibility by land-right type, supported by authoritative legal interpretation, harmonized land registration procedures, and mandatory legal transfer and registration when founders’ land is incorporated into corporate assets. The study contributes to agrarian legal scholarship by clarifying the relationship between corporate legal personality and landholding capacity while offering a regulatory framework that promotes legal certainty, protects the nationality principle, preserves the social function of land, and advances agrarian justice for micro and small enterprises.
Co-Authors Henry Aspan Husni Irawan Soerodjo Mohamad Ismed Musda Asmara Naim Mathlouthi Putra Hutomo Rohmah Maulidia Yengkie Hirawan Yuhelson Yuhelson