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All Journal Al-Kharaj: Journal of Islamic Economic and Business Golden Ratio of Data in Summary
Arif Khan, M. Dawud
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Economics, Econometrics & Finance Social Sciences

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The Principles of Business Continuity and Public Interest in the Resolution of Sharia Bankruptcy Disputes Marsetiaji, M.; Arif Khan, M. Dawud; Hidayat
Golden Ratio of Data in Summary Vol. 6 No. 1 (2026): November - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grdis.v6i1.1766

Abstract

The background of this study lies in the absence of specific regulations regarding bankruptcy and the suspension of debt payment obligations (PKPU) based on Sharia principles. In practice, the principles of business continuity and public interest (maṣlaḥah) are often neglected in resolving Sharia bankruptcy disputes, leading judges to focus primarily on formal juridical aspects. This research aims to analyze the implementation of these two principles in PKPU cases involving Sharia contracts, which the Commercial Court and the Supreme Court handle. The study employs a qualitative method with a normative legal approach through document studies and interviews. The results indicate that the principle of business continuity has not been optimally applied, while the principle of public interest is often overlooked in legal considerations. These findings underscore the need to reformulate Sharia bankruptcy law to incorporate maqāṣid al-syarī‘ah values better, thereby providing judges with a stronger foundation for balancing the interests of debtors, creditors, and society fairly and equitably.
The Transformation of the Kafālah and Ḥawālah Contracts into the Muʻāwaḍah Contract Maṣlaḥah Perspective: An Analytical Study of DSN-MUI Fatwa Aziem, Abdul; Arif Khan, M. Dawud; Hidayat, Hidayat
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 1 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i1.8933

Abstract

This research is motivated by the paradigm shift of kafālah and ḥawālah contracts within the Islamic finance industry in Indonesia. While classical jurisprudence categorizes these contracts as non-profit tabarruʻ (social) contracts, the fatwas issued by the National Sharia Council of the Indonesian Ulama Council (DSN-MUI) have transformed them into muʻāwaḍah (commercial) contracts through the implementation of ujrah (fees). This study aims to analyze the form of this contract transformation, examine the ijtihad methods and approaches employed by DSN-MUI, and explore the substance of maṣlaḥah (public interest) that validates this shift, particularly in supporting the halal economy and tourism ecosystem. The research employs a qualitative method with a library research design, utilizing content and conceptual analysis approaches on relevant fatwas. The results indicate that: (1) The transformation of kafālah and ḥawālah contracts in DSN-MUI fatwas substantively shifts them into ijārah (lease of services) or wakālah bi al-ujrah contracts, which is valid based on the principle of legal substantiality. (2) DSN-MUI utilizes the intiqā’ī (selective) ijtihad method combined with manhajī approaches, specifically at-taysīr al-manhajī (methodological facilitation) and iʻādah an-naẓar (re-evaluation) of classical legal causes (ʻillat). (3) The substance of maṣlaḥah in this transformation is manifested in mutual interest (sustainability of financial institutions), product flexibility (such as support for smart tourism), and the effectiveness of legal certainty within Indonesia's positive law.
Co-Authors Aziem, Abdul Hidayat Hidayat Hidayat Marsetiaji, M.