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Mochammad Tanzil Multazam
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Universitas Muhammadiyah Sidoarjo Majapahit 666 B, Sidoarjo, East Java Indonesia
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INDONESIA
Indonesian Journal of Law and Economics Review
Published by Universitas Muhammadiyah Sidoarjo
ISSN : -     EISSN : 25989928     DOI : https://doi.org/10.21070/ijler
Core Subject : Economy, Social,
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice
Indonesian Journal of Law and Economics Review (IJLER) is published by Universitas Muhammadiyah Sidoarjo four times a year. This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.This journal aims is to provide a place for academics and practitioners to publish original research and review articles. The articles basically contains any topics concerning Law and Economics. IJLER is available in online version. Language used in this journal is Indonesia or English.
Arjuna Subject : Ilmu Sosial - Hukum
Articles 23 Documents
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Search results for , issue "Vol. 20 No. 4 (2025): November" : 23 Documents clear
FinTech and the Development of Crowdfunding Models in Indonesia Abdullah, Gailan Ismael
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1323

Abstract

General Background: Crowdfunding has become an essential alternative financing mechanism worldwide, particularly in emerging economies. Specific Background: In Indonesia, the rapid growth of digital platforms and financial technology (FinTech) provides opportunities to expand financial inclusion, yet challenges persist regarding regulation, trust, and operational efficiency. Knowledge Gap: Despite global research, little is known about how FinTech innovations specifically shape crowdfunding ecosystems in developing contexts like Indonesia. Aims: This study investigates the role of FinTech in enabling innovative crowdfunding models and examines their sustainability. Results: Using a mixed-methods approach with surveys (n=176), interviews (n=33), and case studies, the findings reveal that platform design, operational efficiency, and regulatory support significantly enhance trust and platform credibility, which in turn promote sustainability. Novelty: The study offers a comprehensive framework linking FinTech-driven design features, institutional backing, and user trust to the long-term viability of crowdfunding models. Implications: These insights advance academic understanding and provide practical guidance for policymakers, entrepreneurs, and investors to foster credible, inclusive, and sustainable crowdfunding systems in Indonesia. Highlights: FinTech strengthens crowdfunding through design, efficiency, and regulation. Trust and credibility are central to platform sustainability. Findings guide policymakers, entrepreneurs, and investors in emerging markets. Keywords: FinTech, Crowdfunding, Financial Inclusion, P2P Lending, Financial Innovation.
The Role of Workplace Spirituality in Outstanding Performance: AnPilot Study for Opinions of A Sample of Faculty Members at the College ofAdministration and Economics - University of Fallujah Huossein, Barazan Ali; Ghareeb, Ahmed Majeed
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1326

Abstract

General Background: In the modern academic and organizational context, workplace spirituality has emerged as a crucial factor influencing employee behavior and institutional success. Specific Background: Within Iraqi higher education, institutions face challenges in fostering performance excellence, making it necessary to explore nontraditional motivators such as spirituality at work. Knowledge Gap: Despite its growing importance, limited empirical evidence exists regarding how the dimensions of workplace spirituality—meaningful work, sense of community, and alignment between individual and organizational values—affect outstanding performance in Iraqi academic environments. Aims: This study aims to examine the role of workplace spirituality in achieving outstanding performance among faculty members of the College of Administration and Economics, University of Fallujah. Results: Using a descriptive method and data from 76 respondents, the study found significant positive correlations and effects between all dimensions of workplace spirituality and outstanding performance, with alignment between individual and organizational values showing the strongest impact. Novelty: This research is one of the first to empirically validate the influence of workplace spirituality on performance within Iraqi higher education institutions. Implications: The findings highlight the necessity for universities to integrate spiritual and ethical dimensions into organizational culture to enhance employee engagement, collaboration, and overall institutional performance. Highlight : Workplace spirituality significantly correlates with outstanding performance at the University of Fallujah. Meaningful work and value alignment are the most influential dimensions. Spirituality fosters belonging, satisfaction, and collaboration for superior results. Keywords : Workplace Spirituality, Outstanding Performance, Meaningful Work, Sense of Community, Alignment Between Individual and Organizational Values    
Smart Contracts and the Challenges of Conflict of Laws in Digital Space Khalifa, Attia Suleiman; Samad, Nashwan Salah
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1328

Abstract

General Background: Blockchain-based smart contracts have revolutionized global transactions by enabling automatic, transparent, and decentralized execution of agreements. Specific Background: Despite their efficiency, these digital instruments challenge traditional private international law, particularly regarding jurisdiction, applicable law, and enforceability in cross-border contexts. Knowledge Gap: Existing legal systems, especially in the Middle East, lack comprehensive frameworks to address decentralized contracting and blockchain-based evidence. Aims: This study critically examines the intersection between smart contracts and conflict of laws in digital environments, focusing on Iraq’s legal framework and regional comparison with the EU and the US. Results: The analysis reveals that while the EU has developed coherent regulatory models such as MiCA and the Data Act, and several US states have recognized smart contracts’ validity, Iraq’s Civil Code of 1951 remains inadequate to regulate automated digital agreements. Novelty: The paper proposes a unified legal model integrating UNCITRAL’s 2024 Model Law on Automated Contracting, regional cooperation through the Arab League and GCC, and legislative reforms in Iraq to recognize blockchain evidence. Implications: Implementing such a framework would harmonize technological progress with legal certainty, enhance cross-border trust, and position Iraq and the Middle East within the global digital economy.Highlight : Analyzes the intersection of smart contracts and conflict of laws in digital space. Examines Iraq’s outdated legal framework amid rapid technological change. Suggests adopting international models and regional cooperation for legal reform. Keywords : Smart Contracts, Blockchain, Conflict of Laws, Private International Law, Jurisdiction, Iraq.
Administrative Boundaries and Legal Control over Integrity Commission Decisions in Iraq Kazim, Noor Ali
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1329

Abstract

General Background: After 2003, Iraq witnessed a major transformation in its administrative and legal systems, marked by the establishment of independent bodies to fight corruption, most notably the Federal Integrity Commission. Specific Background: Despite extensive legislative reforms, persistent ambiguity remains regarding the boundaries between administrative authority and the Commission’s jurisdiction, raising questions about the implementation and legitimacy of integrity decisions within the framework of Iraqi law. Knowledge Gap: Previous studies have not comprehensively analyzed the legal limits of administrative power vis-à-vis the Integrity Commission’s decisions or the judicial interpretations that define these boundaries. Aims: This study aims to examine the extent of administrative compliance with the Integrity Commission’s decisions, clarify the constitutional and legislative foundations governing their relationship, and analyze judicial oversight in this context. Results: The research reveals that while the Integrity Commission possesses significant investigative authority, the administration retains limited discretion under strict judicial and legal constraints to ensure the rule of law. Novelty: By integrating legislative analysis with constitutional jurisprudence, the study offers a nuanced framework explaining how executive power interacts with independent anti-corruption mechanisms. Implications: The findings underscore the necessity for clearer constitutional delineation and stronger judicial safeguards to preserve institutional integrity and ensure balanced governance in Iraq. Highlights: Defines clear legal boundaries between administrative powers and the Integrity Commission’s authority. Highlights the judiciary’s central role in ensuring balance and legality in anti-corruption actions. Emphasizes the need for constitutional clarity and stronger institutional independence. Keywords: Integrity Commission, Administrative Authority, Iraqi Legislation, Judicial Oversight, Anti-Corruption
Developers' Immunity Rights in Debt Payment Deferrals for Legal Certainty: Hak Imunitas Pengembang dalam Penundaan Kewajiban Pembayaran Utang untuk Kepastian Hukum Heng, Richard Jemiel; Adam, Richard C.
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1325

Abstract

General background: The property sector, as a key pillar of Indonesia’s national economy, frequently encounters complex legal disputes between developers and consumers, particularly regarding debt obligations. Specific background: The Debt Payment Obligation Deferral (PKPU) mechanism under Law No. 37 of 2004 is designed to ensure legal certainty in debt restructuring. However, the requirement of simple evidence often complicates its application in property-related disputes. The Supreme Court addressed this through Circular Letter (SEMA) No. 3 of 2023, which effectively excludes developers from PKPU eligibility. Knowledge gap: Despite this policy’s practical significance, limited research has analyzed its normative legality and procedural implications. Aims: This study examines the legal nature of developers’ procedural immunity and the juridical consequences of PKPU revocation at the cassation level. Results: Findings reveal that the immunity arises from judicial activism that transfers dispute resolution from commercial to general civil courts and that PKPU revocation has a retroactive effect (restitutio in integrum), nullifying all related settlements. Novelty: The research introduces a conceptualization of procedural immunity in insolvency law, reflecting judicial policy intervention beyond legislative text. Implications: The study underscores the urgency of legislative reform to define simple proof criteria and to establish adaptive dispute resolution mechanisms for the property sector. Highlights: Establishes procedural immunity for developers through SEMA No. 3 of 2023. Highlights retroactive legal effects of PKPU revocation by the Supreme Court. Urges legislative reform to clarify simple proof standards in insolvency law. Keywords: Immunity Rights, Developers, PKPU, Legal Certainty, Judicial Activism  
Law Enforcement Policy by the Police in Combating Online Gambling in Indonesia: Kebijakan Penegakan Hukum Oleh Kepolisian Dalam Menanggulangi Judi Online di Indonesia Tanuwijaya, Jhonathan; Hutabarat, Rugun Romaidah
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1327

Abstract

General Background: The exponential growth of digital technology has accelerated the emergence of online gambling as one of the most pervasive forms of cybercrime in Indonesia, generating severe social, economic, and psychological repercussions. Specific Background: Despite the government’s introduction of Law No. 1 of 2024 amending the Electronic Information and Transactions Law, online gambling continues to proliferate, involving transnational networks and massive financial transactions. Knowledge Gap: Previous studies have insufficiently addressed the complex interaction between legal frameworks, enforcement capacity, and sociocultural factors that hinder the effectiveness of policing online gambling. Aims: This study aims to analyze the Indonesian National Police’s legal policies and enforcement strategies in combating online gambling, focusing on barriers such as digital evidence collection, jurisdictional limitations, and public legal awareness. Results: Findings reveal that punitive measures alone are ineffective, as enforcement faces constraints in tracking cross-border transactions, accessing banking data, and countering influencer-driven promotions. Novelty: This research integrates criminological, psychological, and legal perspectives to propose a multidimensional approach combining penal and non-penal measures. Implications: Strengthening legal literacy, enhancing digital forensics, and promoting international cooperation are essential to develop adaptive, preventive, and rehabilitative strategies for addressing online gambling in Indonesia. Highlights: Highlights the ineffectiveness of punitive measures in tackling transnational online gambling. Identifies major enforcement barriers: digital evidence, jurisdiction, and public awareness. Proposes integrative legal strategies combining penal action with education and rehabilitation. Keywords: Online Gambling, Law Enforcement, Police Policy, Cybercrime, Legal Reform  
Human Resource Readiness for Big Data-Based Halal Tourism Meriandini, Nanik Dela; Ardyansyah, Farid; Nasik, Khoirun
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1330

Abstract

General Background: Halal tourism has emerged as a rapidly growing global industry that integrates Islamic values with modern tourism practices. In the digital era, the use of big data technology has become essential to enhance competitiveness and optimize tourism management. Specific Background: Madura, known for its strong Islamic culture and diverse natural attractions, holds great potential for halal tourism development. However, effective implementation depends on the readiness of human resources (HR) to utilize big data strategically. Knowledge Gap: Despite increasing research on halal tourism, few studies have analyzed HR readiness in adopting big data for halal tourism management, particularly in socially and religiously distinctive regions like Madura. Aims: This study aims to analyze the readiness of Madura’s HR in managing halal tourism through big data utilization using a qualitative descriptive method and SWOT analysis with IFAS–EFAS matrices. Results: Findings show that Madura’s HR demonstrates strong conceptual and social readiness, supported by government policies and youth adaptability, yet faces challenges in digital literacy and infrastructure. Novelty: The integration of HR readiness assessment with big data indicators (5V) and SWOT analysis provides a unique framework for digital-based halal tourism evaluation. Implications: The study contributes to policy formulation and HR capacity-building strategies to strengthen Madura’s competitiveness in global halal tourism. Highlights:   Highlights Madura’s HR adaptability in managing halal tourism through big data. Identifies digital literacy and infrastructure gaps as key development challenges. Proposes strategic HR capacity-building for global halal tourism competitiveness. Keywords: Human Resource Readiness, Halal Tourism, Big Data, Digital Literacy  
Debtors Deferring Debt Payment Obligations and Repeated Appeals in the Perspective of Legal Certainty: Debitor Penundaan Kewajiban Pembayaran Utang dan Kasasi Berulang dalam Perspektif Kepastian Hukum Ananda, Hauwra; Adam, Richard C.
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1331

Abstract

General Background: The Suspension of Debt Payment Obligations (PKPU) serves as a preventive legal mechanism in Indonesian economic law, allowing debtors to restructure obligations and avoid bankruptcy. Specific Background: However, after the Constitutional Court Decision No. 23/PUU-XIX/2021, which opened the possibility of cassation against PKPU rulings, debtors began to exploit this right, filing multiple cassations that delay dispute resolution. Knowledge Gap: Law No. 37 of 2004 concerning Bankruptcy and PKPU does not explicitly regulate the frequency or limits of cassation filings, creating a normative void and inconsistency in judicial interpretation. Aims: This study aims to analyze legal obstacles and identify appropriate normative frameworks for regulating repeated cassation filings from the perspective of legal certainty. Results: The findings reveal that multiple cassations by debtors contradict the principles of procedural finality, efficiency, and fairness, undermining creditors’ rights and the integrity of commercial court processes. Novelty: The study highlights the urgent need for explicit legislative or Supreme Court guidelines limiting cassation frequency in PKPU to prevent abuse of process. Implications: Strengthening legal certainty in PKPU procedures through regulatory reform will ensure fairness, procedural clarity, and balance between debtor and creditor rights within Indonesia’s commercial justice system. Highlights:   Repeated cassation filings undermine the principle of legal finality. Lack of clear regulation in Law No. 37 of 2004 creates legal uncertainty. Reform is needed to limit cassation frequency and ensure procedural fairness. Keywords: PKPU, Cassation, Legal Certainty, Debtor-Creditor, Normative Gap  
Validity of Suspension of Debt Payment Petition Rejected Due to Claim Value: Permohonan Penangguhan Pembayaran Utang Ditolak karena Nilai Klaim Jonatan, Frangky; Adam, Richard C.
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1332

Abstract

General Background: The Suspension of Debt Payment Obligation (PKPU) is an essential legal mechanism within Indonesia’s bankruptcy system that aims to provide debtors the opportunity to restructure their debts and avoid insolvency. Specific Background: However, in practice, several commercial courts have rejected PKPU applications based on the perceived small value of claims, even though Law No. 37 of 2004 on Bankruptcy and PKPU does not stipulate any minimum claim value as a prerequisite. Knowledge Gap: This inconsistency has created legal uncertainty and raised questions about the validity of such rejections in relation to the principles of justice and legal certainty. Aims: This study analyzes the legal basis and validity of PKPU rejections based on claim value and evaluates their conformity with the principles of justice and legal certainty in Indonesian law. Results: The normative legal analysis reveals that rejecting PKPU applications based solely on claim value lacks legal foundation, as it contradicts Article 222 of the Bankruptcy and PKPU Law, which only requires the existence of more than one creditor and a due and payable debt. Novelty: This research provides a comprehensive assessment of the normative gap causing judicial inconsistency in PKPU practices. Implications: The findings emphasize the need for regulatory reform or judicial guidelines to ensure that the PKPU mechanism is applied consistently, fairly, and in support of national legal and economic stability. Highlights:   Legal inconsistency arises from rejecting PKPU based on claim value. Such rejection contradicts Article 222 of the Bankruptcy and PKPU Law. Reform is needed to ensure fairness and consistency in commercial court practice. Keywords: PKPU, Bankruptcy Law, Legal Certainty, Justice, Claim Value    
Legal Uncertainty of Foreign Investors Before Company Ratification in Indonesia: Ketidakpastian Hukum bagi Investor Asing Sebelum Pengesahan Perusahaan di Indonesia Tanuwijaya, Jessica; Adam, Richard C.
Indonesian Journal of Law and Economics Review Vol. 20 No. 4 (2025): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i4.1334

Abstract

General Background: Foreign investment plays a pivotal role in fostering Indonesia’s economic growth by enhancing technology transfer, employment, and national development. Specific Background: Despite the enactment of Law No. 25 of 2007 on Investment and Law No. 40 of 2007 on Limited Liability Companies, legal uncertainties persist, particularly when the Deed of Establishment of a Limited Liability Company (PT) has not been ratified by the Minister of Law and Human Rights. Knowledge Gap: Previous studies rarely examine the legal standing and protection of foreign investors during the transitional phase before company ratification, creating ambiguity in their legal recognition. Aims: This study aims to analyze the legal status and barriers to legal protection for foreign investors whose company’s deed of establishment has not been ratified, under Indonesia’s Investment Law. Results: The findings reveal that unratified companies lack legal personality and protection, rendering contracts voidable and exposing founders to personal liability. Legal uncertainty is further aggravated by regulatory disharmony, administrative inefficiencies, and unsynchronized digital systems between ministries. Novelty: This study elucidates the intersection between corporate ratification processes and investor protection, highlighting gaps in the registration-based system introduced by the Job Creation Law. Implications: The research underscores the necessity for harmonized regulations, streamlined digital governance, and stronger legal safeguards to promote investor confidence and ensure Indonesia’s economic resilience. Highlights:   Unratified companies lack legal standing and expose founders to personal liability. Regulatory disharmony and system inefficiencies hinder legal certainty for investors. Harmonized and transparent legal frameworks are vital to strengthen investor confidence. Keywords: Legal Status, Foreign Investors, Investment Law, Company Ratification, Legal Protection  

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