<![CDATA[State-Owned Enterprises (SOEs) and Government-Linked Companies (GLCs) play important roles in economic governance and public-service delivery in Indonesia and Malaysia, making consumer protection an important dimension of corporate and public accountability. This study examines how Islamic economic law, particularly the principles of al-‘adl (justice), mas’uliyyah (accountability), the prohibitions of gharar and tadlīs, hifẓ al-māl (protection of wealth), and al-kharaj bi al-dhaman, provides a normative framework for assessing consumer protection in state-linked enterprises. Employing normative legal research with comparative and conceptual approaches, the study analyzes primary and secondary legal materials concerning consumer protection and SOE/GLC governance. The findings reveal three principal differences: first, Indonesia regulates BUMN through a specific statutory framework on state-owned enterprises, whereas Malaysian GLCs generally operate under corporate law with state influence exercised through government-linked ownership and investment structures; second, Indonesia’s consumer protection framework under Law No. 8 of 1999 applies generally to consumer relationships but does not expressly establish Sharia-based supervision for non-financial BUMN, while Malaysia’s Sharia governance requirements are more explicitly developed in Islamic financial and halal-related sectors rather than across GLCs generally; third, Indonesian BUMN governance relies primarily on general accountability, audit, risk-management, and sectoral supervision, whereas Malaysia provides a more differentiated institutional framework in which Sharia governance is formally recognized in specific regulated sectors. The study therefore finds that Islamic principles are reflected largely indirectly through existing standards of fairness, transparency, accountability, and consumer protection, while their systematic institutionalization in state-linked enterprises remains limited and sector-specific.]]>
