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All Journal FIAT JUSTISIA: Jurnal Ilmu Hukum Lex Scientia Law Review
Mahmutovic, Adnan
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Law, Crime, Criminology & Criminal Justice

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Legal Analysis of The Application of Islamic Economic Principles in International Trade Law to Realize Fair World Economic Development Nova Lita, Helza; Azis, Norazlina Abdul; Mahmutovic, Adnan
Fiat Justisia: Jurnal Ilmu Hukum Vol. 19 No. 2 (2025)
Publisher : Universitas Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25041/fiatjustisia.v19no2.3938

Abstract

The current international trade law tends to promote competition rather than cooperation, often leading to conflicts between parties to the agreement. The general principles underlying the agreement between parties in international trade law can be related to Islamic economic principles. The GATT and WTO treaties aim to regulate all sectors of global trade as they evolve, encompassing significant developments in international trade, particularly trade among countries with a Muslim majority population. Essentially, Islamic Agreement Law adheres to the principle of freedom of contract, as outlined in the provisions of the Lex Mercatoria and the Civil Code. Thus, the role of individuals in the agreement becomes crucial to understanding the value of the principle of freedom of contract, which is closely related to the principle of party consent. This article offers explanations and solutions to address the primary issues in current international trade agreement practices, grounded in the principles of Islamic Economics. The analytical study will use normative juridical methods and Islamic law. The concept of Islamic Economics is overly concerned with the balanced protection of the parties. In its strategic position, Islamic economic principles can be applied in international trade cooperation relations not only in countries where most of the population is Muslim, but also in Muslim minority countries.
Choice of Islamic Law in Settlement of International Economic Disputes Lita, Helza Nova; Azis, Norazlina Abdul; Mahmutovic, Adnan; Harrieti, Nun; Hidayat, Romidon
Lex Scientia Law Review Vol. 8 No. 1 (2024): Contemporary Legal Challenges and Solutions in a Global Context
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/lslr.v8i1.14058

Abstract

The freedom to choose forum institutions and legal options in resolving business disputes is a freedom to contract exercised by national and international business actors, likewise in settling Islamic economic business disputes. This freedom of contract is recognized both in the principles of international trade law and Islamic law. The present development of sharia business transactions at the national and international levels does not rule out the possibility of disputes in its implementation. The consistency of implementing Islamic economics also concerns the choice of Islamic law, which is used as a choice of law for international business actors in case of a dispute between them. Studying how specific Islamic law can be applied to each country's national law is interesting. This article will discuss how Islamic law can be chosen to settle international business disputes using a normative juridical approach. Choice of law is the law the parties choose to resolve disputes between them, which can be expressed in their business contracts. The choice of law chosen by these parties in the settlement of international business disputes will also be closely related to the principles of Private International Law in harmonizing with the provisions of the National Law of each country. There needs to be mutual agreement from both countries, as well as international forums or institutions, especially international trade institutions, to support the recognition of the application of Islamic legal principles in resolving international business disputes through international agreements both bilaterally and multilaterally.
Co-Authors Azis, Norazlina Abdul Helza Nova Lita Hidayat, Romidon Nova Lita, Helza Nun Harrieti, Nun