<![CDATA[Purpose – This study aims to analyze the construction of workers’ protection following the termination of employment (PHK) due to corporate bankruptcy from the perspective of Fatwa DSN-MUI No. 149 of 2022 and maqāṣid al-sharī‘ah, with the bankruptcy of PT Sri Rejeki Isman Tbk (PT Sritex) as the case study. Method – This study employed a qualitative approach. Primary data consist of Fatwa DSN-MUI No. 149 of 2022 and relevant legal materials concerning employment and bankruptcy, while secondary data include scholarly literature on workers’ protection, Islamic insurance (takāful), bankruptcy, and Maqāṣid al-Sharī ‘ah. The data were analyzed through normative and contextual interpretations to examine the relationship between normative protection and the actual realization of workers’ rights. Findings – The study finds that Fatwa DSN-MUI No. 149 of 2022 provides a Sharia-based framework for financial risk mitigation arising from termination of employment due to corporate bankruptcy, but does not constitute a direct legal basis for the payment of workers’ severance rights or replace bankruptcy and employment law mechanisms. The PT Sritex case reveals a gap between the normative recognition of workers’ rights and their effective realization, particularly because payment depends on the settlement of bankruptcy estates and the availability of corporate assets. From the perspective of maqāṣid al-sharī‘ah, the protection of workers is closely related to ḥifẓ al-māl, ḥifẓ al-nafs, and ḥifẓ al-nasl. Thus, substantive protection requires not only legal recognition but also effective, timely, and fair mechanisms to realize workers’ rights. Research Contribution/Limitations – This study contributes an integrative framework connecting Sharia norms, employment and bankruptcy law, and maqāṣid al-sharī‘ah to evaluate workers’ protection. Its limitation lies in its focus on the PT Sritex case, which limits the generalizability of its findings. Originality/Value – The originality of this study lies in positioning Fatwa DSN-MUI No. 149 of 2022 not as a substitute for bankruptcy mechanisms, but as a normative-ethical framework for evaluating the substantive protection and welfare of workers affected by corporate bankruptcy.]]>
