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Soleh Hasan Wahid
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Invest Journal of Sharia & Economic Law
Published by Institut Agama Islam Negeri Ponorogo
ISSN : 27764982     EISSN : 27764354     DOI : http://dx.doi.org/10.21154/invest
Core Subject : Religion, Economy, Humanities, Social,
Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences
Invest Journal of Sharia & Economic Law, E-ISSN: published by the Sharia Faculty, IAIN Ponorogo, Indonesia. This journal is published every July and December. The Invest Journal focuses on the results of field studies and literature studies in Islamic economic law, especially the integrative study of Islamic economic law in Southeast Asia. This journal publishes original articles on current international issues and trends regarding Sharia economic law, policy, law, social issues to advance knowledge of the theory and practice of Sharia economic law. The Invest Journal of Sharia & Economic Law specializes in research results either theoretically, a particular approach, or geographically in the fields of: Sharia economic law Sharia business law Sharia banking law Sharia financial institution law Non-bank financial industry Fatwa Islamic economics Islamic law Economic Law Business Law Financial Law
Arjuna Subject : Ilmu Sosial - Hukum
Articles 123 Documents
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Establishing A Personal Data Protection Agency for E-Commerce in Indonesia: Legal Framework and Implementation Challenges Nuzul Sa'adah, Bilqis Laila; Sukarmi, Sukarmi; Dewantara , Reka
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.10031

Abstract

The rapid growth of e-commerce in Indonesia has led to a significant increase in the collection and processing of personal data, raising concerns regarding data security and privacy rights. This study analyzes the urgency of establishing a Personal Data Protection Agency (LPDP) specifically for e-commerce users in Indonesia, considering the increasing risks to personal data in the digital marketplace. This research focuses on addressing the limitations of the current legal framework, particularly the gaps in the Indonesian Personal Data Protection Law (UU No. 27 of 2022), and proposes an independent body with clear authority to regulate, monitor, and enforce data protection standards. This study employs a qualitative approach using normative legal analysis to evaluate existing regulations and assess the evolving needs of the e-commerce sector. The findings suggest that the absence of detailed implementation regulations and lack of a specific regulatory body create significant legal uncertainties, exposing users to potential data breaches. Establishing the LPDP is expected to strengthen data protection measures, enhance consumer trust, and provide legal certainty in Indonesia's digital economy. The proposed structure of the LPDP includes directorates for policy and regulation, supervision and audits, law enforcement, and public education and awareness. The implementation of effective personal data protection policies requires a comprehensive and coordinated approach, with the LPDP having sufficient authority and resources to perform its duties. This study highlights the importance of establishing an independent regulatory body to ensure the protection of personal data and privacy rights in Indonesia's rapidly expanding e-commerce sector.
Child Passenger Safety in Indonesia: An Analysis of the Need for Specific Seat Belt Regulations Ariyanto, Oos; Noerdajasakti , Setiawan; Sulistio , Faizin
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.10045

Abstract

Current Indonesian road safety laws, particularly Law No. 22 of 2009 on Traffic and Road Transport, lack specific provisions for the use of child restraint systems, which significantly reduces child passenger safety. Unlike many developed countries with strict regulations that mandate child-specific safety equipment, Indonesian regulations currently mandate only standard seatbelts designed for adults. This inadequacy poses a substantial risk to children because of their physical vulnerability. This study examines the urgency of specific regulations regarding child safety restraints for child passengers in Indonesia. This research employs a normative legal approach to analyze Indonesia's existing legislation alongside international practices. The findings underscore those countries such as the United States, the United Kingdom, and Australia have effectively lowered child accident rates through mandatory child safety restraints and public awareness campaigns. The study concludes that adopting similar practices in Indonesia could enhance child passenger safety, reduce injury rates, and improve overall road safety for young passengers. The implementation of specific child restraint laws and public awareness initiatives are recommended to ensure comprehensive legal protection for child passengers in Indonesia.
The Grey Areas: Notary Liability and Intern Supervision in Indonesian Legal Practice Nabila, Selma; Widhiyanti , Hanif Nur; Wisnuwardhani, Diah Aju
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.10048

Abstract

This study examines the legal responsibilities and protections for notaries supervising interns in Indonesia, focusing on potential violations and the challenges posed by the differing legal statuses of interns and permanent staff. Employing a normative juridical method with statute and conceptual approaches, this research analyzes Article 16A of Law Number 2 of 2014 on Notary Position, which mandates supervisory duties for notaries but lacks clarity on liability boundaries. The absence of detailed regulations exposes notaries to legal and reputational risks as they may face litigation for interns' misconduct. Inconsistent internship practices across notarial offices further complicates this issue. This study highlights practical challenges, such as managing interns' access to sensitive client information and maintaining confidentiality. These challenges are exacerbated by interns' status as trainees rather than employees, which limits the supervising notary's control and accountability. These findings underscore the need for explicit guidelines to protect notaries from unintended liability while ensuring effective mentorship. Recommendations include implementing specific regulations on supervision, mandatory ethics training for interns, and limited access to protocols. Collaboration with professional associations to establish best practices and maintain a balance between legal responsibilities and training quality is advised. This study contributes to the understanding of professional responsibility in the notarial profession and highlights the importance of clear legal frameworks to support supervisors and maintain public trust.
Moral Singularity, Consciousness, and Artificial Intelligence in The Algorithmic Age of Islamic Economics, Finance, Society, and Science Choudhury, Masudul Alam; Hoque, Muhammad Nazmul; Zakaria, Nor Balkish; Erum, Naila
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10223

Abstract

This paper analytically argues that received scientific doctrine and Islamic scholarship, by being methodologically independent of the principle of pairing the moral and material essence of events, have left a significant gap in understanding reality. Such a gap is referred to as exogenously independent, that is, as existing merely as a moral singularity in the methodological worldview of knowledge that otherwise pervades “everything.’ This latter essence pronounces the central role of Tawhid as the pervasiveness of the conscious continuum. The pervasive nature of the conscious continuum in Tawhidi unity of knowledge brings out the analytical power to explain the core of the socio-scientific methodology of pairing (complementarities). This study derives a logical formal model of the interrelations between the centerpiece of the unity of knowledge, consciousness, configuration of epistemic moral-materiality, and socio-scientific intellection in the post-modern algorithmic age. For example, this vastness is inherent in the new epistemic configuration of the AI regime of the algorithmic age. Such an intellectual vista of divinely induced formal inherences in the order of reality is pointed out in this paper as pertaining to the new episteme of socio-scientific moral-materiality holism. A comparative methodological approach was used. The emergent subtle areas of discourse form the originality of the paper, its focus, and its theme.
Islamic Economic Principles in Healthcare: Analyzing the Impact on Islamic Hospitals through Bibliometrics Apriantoro, Muhamad Subhi; Saifullah, Muhammad Fahmi
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10245

Abstract

This study explores the application of Islamic economic principles in healthcare, specifically through Islamic hospitals. Employing bibliometric analysis and network visualization techniques, data from the Scopus database revealed 722 articles published between 1973 and 2024 were analyzed. Tools such as Microsoft Excel, R/RStudio, and VOSviewer were used to analyze these documents and visualize a network of keywords that highlight the economic aspects of Islamic hospitals. The findings indicate a steady growth in publications at a rate of 7.03% annually, with 2019 marking the highest number. Iran has emerged as a significant contributor to this body of research, particularly through the Tehran University of Medical Sciences, while the Eastern Mediterranean Health Journal has served as the primary publication outlet. Keyword network analysis uncovered four main clusters: financing models, cost-effectiveness, resource allocation, and ethical considerations in healthcare. This study sheds light on the integration of Islamic economic principles in healthcare settings and lays the groundwork for future research on optimizing economic practices in Islamic hospitals.
PENGARUH BEBAN KERJA TERHADAP TURNOVER INTENTION DENGAN PERCEIVED ORGANIZATIONAL SUPPORT (POS) DAN CONTINUANCE COMMITMENT SEBAGAI VARIABEL MODERASI: Analyzing Workload, Perceived Organizational Support, and Commitment at Baitul Maal wat Tamwil (BMT) Khoirunisa, Laila; Zakiy, Muhammad; Jadmiko, Purbo; Samsuddin, Ardian
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10270

Abstract

Human resources are an important aspect of an organization that cannot be separated from turnover problems. The high turnover rate remains a serious problem that organizations must minimize. One of the factors that can cause high turnover rates is the employee workload. Despite this, some factors can be highlighted to reduce turnover rates due to high workload, namely, perceived organizational support (POS) and continuance commitment. This study aimed to determine the effect of workload on turnover intention, with perceived organizational support (POS) and continuance commitment as moderating variables. This study used a quantitative method. Data were collected using questionnaires distributed to employees of BMT BIF Yogyakarta. The research respondents were 75 people collected using a saturated sampling method. Data analysis in this study used Structural Equation Modeling (SEM) in the Smart PLS 3.2.9 application. The results of the study show that there is an influence between workload and turnover intention. In addition, the perceived organizational support variable can also moderate the effect of workload on turnover intention, while continuance commitment cannot moderate the effect of workload on turnover intention. The managerial implications lead to the organization's role to always pay attention to the workload assigned to employees and to increase the perceived organizational support for employees so that turnover intention can be minimized.
The Quadriptych of Rizq, Ḥabs, Maʿāsh, and ʿUmrān: Insights from Hājar's Statement on Water Rights Belabes, Abderrazak
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10404

Abstract

This article explores the meanings underlying Hājar’s statement “you have no right to the water” of Zamzam, based on a philological reading of the original Arabic text mentioned in Ṣaḥīḥ al-Bukhārī. In this respect, it is necessary to understand Hājar’s statement in the general context of the foundation of the Bayt (sacred house), its destruction following Noah's flood, the gushing of Zamzam water, and the rebuilding of the Bayt by Ibrāhīm and Ismāʿīl. From this exploration emerges a quadriptych composed of four key meanings: rizq (divine provision), ḥabs (what is intended for the benefit of everyone), maʿāsh (the world we live from), and ʿumrān (the world we live in). This perspective offers an opportunity to understand Hājar's perception of the interaction between humans and the living milieu beyond the contemporary conceptual language focused on individual ownership. Following her experience of the gushing forth of Zamzam, the human being appears as the steward of God on earth who does not own the goods that he uses. As such, he is supposed to make them bear fruit for his own benefit and that of the community, in harmony with the milieu. The ability to inhabit takes precedence over the ability to appropriate the resources. Focusing on the concept of individual ownership veils the deeper meaning of life that connects the world we live from with the world we live in. Hajar's message is to make choices in favor of life. Such meanings open new avenues for research to go beyond the conceptual frameworks established by Islamic economics and finance, the contemporary jurisprudence of financial transactions, and that of awqāf, embedded in a contract approach centered on individual ownership.
Understanding Islamic Banking Usage Continuance in Indonesia: A Relevance of Religiosity Perspective Lestari, Dini Maualana; Furwanti, Reni; Masri, Syahril
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10420

Abstract

This study explores and analyzes religiosity as a key factor in muamalah activities to boost Islamic banking customers' intention to continue using the service. This focus arises from the intense competition in Indonesia's Islamic financial industry. Despite this competition, the Islamic banking sector still has a relatively small percentage of loyal customers, contributing to its low market share in the country. Therefore, banks must devise strategies that leverage religious factors to enhance customers' continuance intention usage (CUI). This quantitative study employed a survey method, utilizing structural equation modeling (SEM-AMOS) to meet its research objectives. The study selected Islamic banking customers as its sample and gathered 403 participants through convenience sampling. The findings indicate that this study adjusted the religiosity indicator to assess economic activity, particularly customer behavior. Additionally, the model demonstrated that religiosity can significantly enhance Islamic banking customers' CUI. This study offers policy recommendations for regulators in the Islamic banking industry, emphasizing the importance of religious factors in attracting customer continuance intention usage, as most Indonesian Muslims exhibit greater confidence in such factors.
Türkiye Wealth Fund: A Review Durdu, Muhammet
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10470

Abstract

Sovereign wealth funds (SWFs) are investment funds owned by states to implement various state objectives. SWFs date back to the 19th century, but their modern examples emerged in 1953 with the Kuwait Investment Authority. They have been extensively known in the financial world after the millennium but were not coined until 2005. They reached approximately 14 trillion USD, a paramount capacity for international financial markets. They originally stemmed from fossil fuel revenues with stabilization and saving aims. As states recognize them, their aims and resources have diversified. Currently, they appear to be a varied bulk of investment tools managed by sovereign states. Their sole collective feature is the state ownership. Although they could resemble each other to some degree in a specific group, they are not a homogeneous group of investors. The Türkiye Wealth Fund (TWF) is a distinctive SWFs. Türkiye has not had ample reserves to build an SWF, but it has used its enterprises and borrowing to build an SWFs. There is considerable controversy regarding TWF in Türkiye. In this article, I endeavored to present a general picture of TWF and the controversy surrounding it. Considering the best practices, I attempted to recommend some things to TWF to contribute to its improvement in the right way.
Presidential Discretion and Ministerial Inflation: A Normative Critique of the Amendment to Indonesia’s State Ministry Law Akbar, Muhammad Jihadil; Uyun, Dhia Al; Prasetyo, Ngesti Dwi
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10540

Abstract

The amendment to Article 15 of the State Ministry Law, which eliminated the cap on ministries and replaced it with "as needed by the President," has introduced legal uncertainty in Indonesia. This change adversely affected the structuring and formation of state ministries. This study analyzes the factors influencing ministry formation and aims to reconstruct the regulatory framework by reinstating limitations on the number of ministries to mitigate negative impacts. Using a normative legal method with statutory, conceptual, and historical approaches, this study identifies regulatory gaps. The findings reveal that the amendment to the State Ministry Law, particularly the revision of Article 15, which allows ministry numbers to be determined by presidential discretion, creates legal uncertainty. This fails to meet two key indicators of legal certainty theory - lex stricta and lex certa - leading to detrimental implications for ministry formation. This study recommends a judicial review of the amendments and advocates for reinstating a maximum limit on ministry numbers within the legal framework. This regulatory provision enhances legal certainty and prevents potential abuse of authority.

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