<![CDATA[This study analyzes the dynamics of Islamic business law in Aceh and Thailand, emphasizing the interaction between state regulations and community initiatives. Aceh was chosen because it has a formal Sharia legal basis through Qanun, while the Muslim community in Thailand has independently developed an Islamic economic system in a secular state. Using qualitative methods and a comparative-transnational approach, data was obtained through document studies, in-depth interviews, and participant observation. Thematic analysis shows that state regulation in Aceh provides formal legitimacy but faces challenges in implementation, especially during the transition of financial institutions. Conversely, in Thailand, the absence of legal support has given rise to community innovation in the form of Sharia cooperatives and Islamic value-based business practices. This research contributes to the literature on legal pluralism and Islamic economics by emphasizing that the success of Islamic business law depends not only on regulation but also on the capacity of communities to develop social capital. Practically, the results of this study provide insights for Muslim policymakers and business actors on the importance of collaboration between the state and society in building a sustainable Islamic economic ecosystem.]]>
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