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All Journal Jurnal Suara Hukum Jurnal Pengabdian Hukum Indonesia
Muhamad Azhar
Faculty of Law, Universitas Diponegoro
Law, Crime, Criminology & Criminal Justice

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Combating Speculative Investment through Legal and Syariah Literacy: A Community Engagement Approach for Biased Young Investors Aisa Rurkinantia; Bagas Heradhyaksa; Riza Fibriani; Ery Agus Priyono; Muhamad Azhar; Zulkarnaen Ahmad
Jurnal Pengabdian Hukum Indonesia (Indonesian Journal of Legal Community Engagement) JPHI Vol. 9 No. 1 (2026): (January-June 2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jphi.v9i1.44950

Abstract

Young investors under 30 now constitute 55.8% of Indonesia's 13.7 million individual investors. The national financial literacy index stands at 66.64% and the sharia financial literacy index at 43.42%. This gap leaves young investors highly vulnerable to Fear of Missing Out (FOMO). FOMO-based behaviour may violate Article 91 of Law Number 8 of 1995 on Capital Markets and contradicts DSN-MUI Fatwa Number 80/2011 on sharia investment principles. This program aimed to recalibrate the mindset of the Semarang Young Investor Community from speculative toward legally-aware, analytically-grounded investment practice. The study employed Participatory Action Research (PAR) through an in-person seminar on 1 November 2025 in Semarang. A five-pillar ecosystem was established: UIN Walisongo, IDX Central Java, Mirae Asset Sekuritas, AISA, and the Semarang Young Investor Community. Impact was measured through a mixed-methods design combining pre-test (n=65), post-test (n=45), and Focus Group Discussion (FGD). The mean comprehension score rose from 58.0 to 78.0 — a 20-point gain. The proportion in the High category increased from 19% to 65%. FGD findings confirm that participants identified influencer-based stock promotion as a potential violation of Article 91 and understood DSN-MUI Fatwa Number 80/2011 The program's novelty is threefold: targeting already-included, bias-vulnerable investors; integrating legal literacy as a core component; and combining PAR with a replicable five-pillar ecosystem model. This study proposes a paradigm shift from Education for Inclusion toward Education for Rationality and Legal Awareness. Investor vulnerability to FOMO constitutes a legal protection failure that legal literacy-based community engagement can directly address. This aligns the program with SDG 16 (Peace, Justice, and Strong Institutions), through its emphasis on investor legal protection, and SDG 4 (Quality Education), through its capacity-building outcome in the partner community.
Digital Transformation of Contract Law: Legal Certainty and Human Rights Protection in AI-Based Contracts Ery Agus Priyono; Olawale Olufemi Akinrinde; Muhammad Najiib Al Fithri; Muhamad Azhar
Jurnal Suara Hukum Vol. 8 No. 1 (2026): Jurnal Suara Hukum
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/jsh.v8n1.p132-166

Abstract

The development of artificial intelligence (AI) has driven the digital transformation of electronic contracting practices by introducing automated systems and electronic agents. However, using AI to form and execute contracts raises legal issues, particularly regarding the validity of agreements, legal certainty, and the protection of human rights. According to Indonesian contract law, agreements are valid if they meet the requirements of Article 1320 of the Civil Code (KUHPerdata) which includes mutual agreement and legal capacity. However, AI lacks free will and legal status. This study aims to analyze the discrepancy between applicable legal norms and the practice of using AI in electronic contracts in Indonesia. This study employs normative legal research with a legislative and comparative law approach, focusing on the UNCITRAL Model Law on Electronic Commerce and the United Nations Convention on the Use of Electronic Communications in International Contracts. The results reveal that Indonesian positive law does not explicitly regulate the validity or legal liability of AI-based contracts. This lack of regulation has the potential to cause legal uncertainty and substantive injustice. Therefore, it is necessary to harmonize national law with international standards and integrate a human rights–based approach to ensure legal certainty and justice in AI-based contracts.    
Co-Authors Aisa Rurkinantia Bagas Heradhyaksa Ery Agus Priyono Muhammad Najiib Al Fithri Olawale Olufemi Akinrinde Riza Fibriani Zulkarnaen Ahmad