scholarly journals Indonesian State Owned Enterprises (BUMN or SOEs), and the Urgency of Implementation of Principle of ’Business Judgment Rule’

2020 ◽  
Vol 8 (1) ◽  
Author(s):  
Teuku Syahrul Ansari ◽  
Herdi Sahrasad ◽  
Irfan Iryadi
Keyword(s):  
Social Role ◽  
Constitutional Court ◽  
Business Sector ◽  
Legal Certainty ◽  
Economic Activities ◽  
Legal Development ◽  
Business Judgment Rule ◽  
The World ◽  
Efficiency And Effectiveness ◽  
Case Number

State owned enterprises (SOEs  or BUMN) companies need management which generally emphasizes governance which is more concerned with the principles of efficiency and effectiveness. In reality, it is evident that in Indonesia state-owned companies have an enormous economic and social role, and are an extraordinary force and economic driver. In Singapore and Malaysia, SOEs also contribute greatly to economic activities. In Indonesia, SOEs are included in a number of diverse sectors or fields of business, from banking, energy, food, infrastructure, and transportation, both sea, land and air. A total of 118 SOEs in 2015 with a total assets of Rp5,395 trillion would certainly be able to make a greater contribution to economic growth in 2016 if they were able to synergize in managing the business sector. BUMN assets are also estimated to be greater through the SOE asset revaluation process. The Constitutional Court in case number 48 / PUU-XI / 2013 and case No. 62 / PUU-X1 / 2013 dated May 22, 2013 decided that management BUMN must use the principle of Business Jugment Rule. In the ruling, it was also stated that state owned finances were state finances. As a result, this ruling brings legal certainty about the position of finance of BUMN. This paper explains that the development of BUMN (state owned enterprises-SOEs) as a corporation that carries out social and business missions is facing constitutional juridical problems and facing the challenges of globalization. Factually, at this time legal development cannot be separated from the influence of globalization. Globalization in the economic field has affected various fields of the business sector in the world.

scholarly journals Reminding State Enterprises (BUMN) Management Using the Principle of ’Business Judgment Rule’: A Preliminary Note

2019 ◽  
Vol 2 (3) ◽  
pp. 27-38
Author(s):  
Teuku Syahrul Ansari
Keyword(s):  
Logical Consequence ◽  
Legal Protection ◽  
Constitutional Court ◽  
Preliminary Note ◽  
Legal Principles ◽  
Economic Law ◽  
Business Judgment Rule ◽  
Globalization Of Law ◽  
State Enterprises ◽  
Case Number

This paper explains that the development of BUMN (state enterprises) as a corporation that carries out social and business missions is facing constitutional juridical problems and facing the challenges of globalization. Factually, at this time legal development cannot be separated from the influence of globalization. Globalization in the economic field has affected various fields of the business sector in the world.  This globalization is followed by the globalization of law, which causes substantially various laws and agreements to spread across national borders, which causes the merging of legal principles (especially in the economic sector) from one country to another . For Indonesia, the logical consequence of this development is the demand to harmonize the principles of economic law in Indonesia, with the principles of economic law in the international world. Without harmonization, Indonesia can be ostracized in international business activities, because there is no certainty for legal protection for business and investment activities that are commonly carried out globally. The Constitutional Court in case number 48 / PUU-XI / 2013 and case No. 62 / PUU-X1 / 2013 dated May 22, 2013 decided that management  BUMN  must use the principle of Business Jugment Rule. In the ruling, it was also stated that state-owned finances were state finances. As a result, this ruling brings legal certainty about the position of finance of BUMN.

scholarly journals Kepastian Hukum Pelaksanaan Khiyar Syarat Dalam Bai’Salam Online Melalui Instagram

2020 ◽  
Vol 2 (2) ◽  
pp. 109-129
Author(s):  
Wahyu Wahyu ◽  
Rahmadi Indra Tektona
Keyword(s):  
Social Media ◽  
Research Method ◽  
Islamic Law ◽  
Legal Certainty ◽  
Economic Activities ◽  
The Social ◽  
The World ◽  
Online Trading ◽  
State Employees ◽  
Online Buying

Islam strongly emphasizes that all economic activities carried out by humans in the world are an accountability that must be in accordance with Islamic law. In the Sharia economy there are khiyar rights which are expected to provide good benefits in the sale and purchase agreement and make buying and selling activities in accordance with the principles of Islamic law, it is consensual and also providing benefits to the parties in accordance with the provisions in Islamic law and the existence of willingness or sincerity in buying and selling activities in accordance with the Koran and hadith. Currently, many buying and selling transactions are carried out online, one of which is using the social media, Instagram, which has millions of users who can exceed time and space. Many business actors ranging from housewives, students, state employees, private employees who post goods to be traded on Instagram, behind this convenience, of course there are problems, it is the existing image and the merchant’s reputation is something that is highly valued in online trading. The problem that arises in the online buying and selling contract is the mismatch of goods with pictures and descriptions on social media resulting in a one-sided cancellation of the purchase of ordered goods by the buyer and this results in losses to the seller, even though before the transaction the two parties have mutually agreed. The research objective of this paper was to analyze legal certainty in the implementation of khiyar in purchasing ordered goods in online buying and selling transactions via Instagram, the research method used is normative juridical, the results of research on the form of legal certainty in the implementation of khiyar. Keywords: Legal certainty, Khiyar Syarat, Bai’ Salam Online

scholarly journals IA TAFSIRAN MAHKAMAH KONSTITUSI TERHADAP PEMUFAKATAN JAHAT OLEH KORUPTOR (STUDI PUTUSAN NOMOR 21/PUU-XIV/2016)

2018 ◽  
Vol 17 (2) ◽  
pp. 230-245
Author(s):  
Irfan Ardian Syah
Keyword(s):  
State Power ◽  
Dual Role ◽  
Constitutional Court ◽  
Legal Certainty ◽  
Before And After ◽  
Negative Role ◽  
The Law ◽  
The Right ◽  
The Relationship ◽  
Case Number

Hopes that the Constitutional Court (CC) is not acting as legislator (maker norm) was not easy to achieve. This is because in some cases the judicial examined, tried, and decided, the CC actually act as a norm-making body (one of them in the Case Number 21/PUU-XIV/2016). Thus, in terms of the concept of state power, the CC has a dual role as the holders of state power in the judiciary and the legislature. The problem of this study is the interpretation of the CC of the of conspiracy and the relationship between of conspiracy according to Article 88 of the Code of Penal (CP) in accordance with Article 15 of the Law on the Eradication of Corruption (LEC) before and after the enactment quo decision. CC interpretation against conspiracy is the right step to ensure legal certainty. However, the CC for an interpretation of action are included unlawful. Thus, in hearing and deciding the case a quo, the CC took a negative role, namely to uphold the law by breaking the law. The relationship between conspiracy under Article 88 of CP with according to Article 15 of LEC before the stipulated judgment a quo is not applied the principle of Lex Specialis Derogat Legi Generalis after adoption of a quo decision to do is to be the application of the principle of Lex Specialis Derogat Legi Generalis.

scholarly journals IMPLEMENTASI BANK GARANSI PADA SEKTOR RILL PENGUSAHA PEREMPUAN MIKRO DALAM PEMBERIAN KREDIT PERBANKAN

LITIGASI ◽  
2020 ◽  
pp. 241-266
Author(s):  
HJ. KURNIANINGSIH HJ. KURNIANINGSIH ◽  
GANDHI PHARMACISTA
Keyword(s):  
Financial Institutions ◽  
Financial Institution ◽  
Small And Medium Enterprises ◽  
Real Sector ◽  
Business Sector ◽  
Legal Certainty ◽  
Economic Activities ◽  
Main Activity ◽  
Fierce Competition ◽  
Medium Enterprises

The main activity of a financial institution is to finance capital in a business sector, in addition to other businesses. Financial Institutions are institutions that are inseparable from economic activities because these institutions act as a medium between owners and users of capital. Micro, Small and Medium Enterprises (UMKM) are becoming the prima donna, and have been empowered since almost 20 years ago although the results to date have not been encouraging. So it is necessary to look for a new format that is different from the previous one so that UMKM do not run in place. Strategic efforts are needed to empower UMKMto support the economy as happened in Japan and Taiwan. The research method used here is descriptive analytical, with an empirical juridical approach because the problems that revolve around the laws and regulations will also be seen its application in practice. Now UMKM have the opportunity to continue to grow and banks continue to set aside credit for the real sector. Although the amount of credit disbursed is quite large, the development of UMKM in Indonesia is still hampered by a number of problems. Entering the era of globalization, entrepreneurs are competing to advance their respective businesses with quite fierce competition. To be able to survive, entrepreneurs, in addition to requiring the law to guarantee legal certainty in action, also need a financial institution in the form of banking that can guarantee the smooth running of their business

scholarly journals COVID-19 Pandemic: A review of economic package of India using Sentiment and Emotional Analysis

2021 ◽  
Vol 13 (1) ◽  
pp. 81-97
Author(s):  
Sarla Bharadwaj ◽  
Piyush Bharadwaj
Keyword(s):  
Coming Out ◽  
Health And Safety ◽  
North India ◽  
Business Sector ◽  
Economic Activities ◽  
Indian Government ◽  
North West ◽  
Global Pandemic ◽  
Turbulent Times ◽  
The World

COVID-19 global pandemic has created an unprecedented crisis and the entire global community passing through turbulent times. With the number of coronavirus (COVID-19) cases growing exponentially, the entire world has come to a standstill. This Covid-19 global pandemic has created stressful unsettling circumstances for the whole world. It has completely disrupted the normal socio economic activities. Most of the countries have enforced a complete lockdown and taking several pro-active measures and necessary precautions to ensure health and safety of its citizens. There is a huge loss in business sector leading to another recession around the world. Every country is coming out with a plan to save their economy. India is the fifth largest economy in the world and to save their economy, the Indian government has announced an economic package of Rs. 20 lac crore for its economic revival. People have flooded their social media accounts with their opinion on this economic package. In this paper, 1.8 lac tweets are extracted and analysed from different states and UT’s of India. The findings show that more than 50% of people are positive about the economic package. Around 50,000 people are neutral about the economic package and around 30,000 people are negative regarding the economic package. The paper also analysis state-wise tweets and concludes that all states have a majority of positive tweets for the economic package. The study also analysis that north west India has most positive tweets and neutral tweets and north India has most negative tweets.

scholarly journals Legal Protection for Creditors in Money Loans Agreement Lending with Constitutional Court's Decision No. 69 / PUU-XIII / 2015

2019 ◽  
Vol 12 (3) ◽  
pp. 178
Author(s):  
Daniel Hendrawan ◽  
Christian Andersen ◽  
Theodora Novia Tjasa
Keyword(s):  
Legal Protection ◽  
Third Parties ◽  
Constitutional Court ◽  
Court Ruling ◽  
Legal Certainty ◽  
Bad Faith ◽  
The Public ◽  
Legal Development ◽  
The Government ◽  
Legal Consequences

In Indonesia, the Marriage Agreement has long been valid and regulated in the legislation in Law Number 1 of 1974 concerning Marriage. Marriage Agreement regulates marriage property. In Article 29 paragraph (1) Law Number 1 Year 1974 concerning Marriage stipulates that marriage agreements must be made before the marriage takes place, but in 2015 the Constitutional Court issued Decision Number 69 / PUU-XIII / 2015 concerning changes to Article 29 paragraph (1), paragraph (3), and paragraph (4) of Law Number 1 of 1974 concerning Marriage which states that the Marriage Agreement can be made before, at the time of, and after the marriage takes place. The Constitutional Court ruling raises questions from various parties about how the legal consequences of the Marriage Agreement made after the marriage took place and what legal protection can be given to third parties on the Marriage Agreement which was made after the marriage took place. This study uses a normative juridical research method that is descriptive analytical based on the merging of primary, secondary and tertiary data acquisition. The results of this study indicate that the legal consequences of the Marriage Agreement made after the marriage took place will have legal consequences for the parties themselves, assets, and also for third parties. Legal protection that can be given to creditors is to pay attention to the element of good faith in each loan agreement making so that creditors will be protected by themselves, if one of the parties making the loan agreement has bad faith, the loan agreement will automatically be canceled law because it does not meet the objective requirements. The author's hope for this research is that the government can provide further regulation regarding the Constitutional Court Decision Number 69 / PUU-XIII / 2015 so that the public gets legal certainty in the implementation of the Decision and for the community the writer recommends restraint in carrying out the Decision until the regulation further from the government. Finally, the authors hope that this research can benefit the world of legal development in Indonesia.

Menakar Urgensi dan Masa Depan Legislasi Fiqih Produk Halal di Indonesia

2020 ◽  
Vol 14 (2) ◽  
pp. 177-190
Author(s):  
Siti Rohmah ◽  
Ilham Tohari ◽  
Moh. Anas Kholish
Keyword(s):  
Islamic Law ◽  
World Market ◽  
Legal Certainty ◽  
Muslim Countries ◽  
The World ◽  
Constitutional Protections

This article aims to identify and analyze the urgency and future of fiqh legislation for halal products in Indonesia. In addition, this article also aims to identify and analyze whether Law no. 33 of 2014 concerning the Guarantee of Halal Products is the result of authoritarianism in the name of Islamic law in Indonesia or is a constitutional guarantee for the majority of Muslims. The conclusion of this study shows that the effort to enact the jurisprudence of halal products through the Halal Product Guarantee Law is a constitutional necessity for Indonesian citizens who are predominantly Muslim. The regulation of halal certification in the Halal Product Guarantee Law is a form of legal certainty and constitutional protections for the majority of Muslims as consumers in Indonesia. In addition, the existence of the Halal Product Guarantee Law is also considered to provide benefits economically, socially, and healthily, which applies universally regardless of religion. Even the accusation that the Halal Product Guarantee Law is a product of authoritarianism that harms non-Muslims cannot be justified. Because the producers of food and medicine that are widely circulating in supermarkets and mini-markets in Indonesia are actually non-Muslim owners. Even with this halal certification, their products can enter the world market, especially in Muslim countries.

ASAS KEPASTIAN HUKUM DAN ASAS KEBEBASAN BERKONTRAK SEBAGAI PERTIMBANGAN UTAMA DALAM PENYELESAIAN SENGKETA PERBANKAN SYARIAH (Kajian Yuridis Putusan MK Nomor 93/PUU-X/2012)

2018 ◽  
Vol 3 (1) ◽  
pp. 69
Author(s):  
Edi Hudiata
Keyword(s):  
Dispute Resolution ◽  
Judicial Review ◽  
Alternative Dispute Resolution ◽  
Contract Law ◽  
Islamic Banking ◽  
Constitutional Court ◽  
Legal Certainty ◽  
Ideal Norm ◽  
Freedom Of Contract ◽  
Binding Force

Since the verdict of the Constitutional Court (MK) Number 93/PUU-X/2012 pronounced on Thursday, August 29, 2013, concerning the judicial review of Law No. 21 of 2008 on Islamic Banking, it is no longer dualism dispute resolution. The verdict as well as strengthen the jurisdiction of Religious Court to resolve Islamic banking disputes. In consideration of the judges, judges agreed stating that Article 55 paragraph (2) and (3) of Law No. 21 of 2008 which is an ideal norm, contains no constitutional problems. The problem is the explanation of the constitutional article 55 paragraph (2) of the Act. The emergence of the Constitutional Court verdict No. 93/PUU-X/2012 which substantially states that the explanation of Article 55 paragraph (2) of Law No. 21 of 2008 does not have binding force, basically does not violate the principle of freedom of contract which is common in contract law. The parties are allowed to make a dispute resolution agreement out of religious court based on provisions as Act No. 30 of 1999 on Arbitration and Alternative Dispute Resolution. Keywords: dispute resolution, legal certainty and the principle of freedom of contract

Institutional actors: Children’s emerging beliefs about the causal structure of social roles

2019 ◽  
Author(s):  
Alexander Noyes ◽  
Frank Keil ◽  
Yarrow Dunham
Keyword(s):  
Soccer Player ◽  
Social Roles ◽  
Social Role ◽  
Causal Structure ◽  
Executive Orders ◽  
The Social ◽  
The World ◽  
Children's Beliefs ◽  
Institutional Actors ◽  
The U.S

Institutions make new forms of acting possible: Signing executive orders, scoring goals, and officiating weddings are only possible because of the U.S. government, the rules of soccer, and the institution of marriage. Thus, when an individual occupies a particular social role (President, soccer player, and officiator) they acquire new ways of acting on the world. The present studies investigated children’s beliefs about institutional actions, and in particular whether children understand that individuals can only perform institutional actions when their community recognizes them as occupying the appropriate social role. Two studies (Study 1, N = 120 children, 4-11; Study 2, N = 90 children, 4-9) compared institutional actions to standard actions that do not depend on institutional recognition. In both studies, 4- to 5-year-old children believed all actions were possible regardless of whether an individual was recognized as occupying the social role. In contrast, 8- to 9-year-old children robustly distinguished between institutional and standard actions; they understood that institutional actions depend on collective recognition by a community.

Economic Impact of COVID-19 Pandemic: Who are the Big Sufferers?

2020 ◽  
pp. 320-326
Keyword(s):  
Informal Economy ◽  
World Economy ◽  
Mitigation Measures ◽  
Economic Activities ◽  
Informal Workers ◽  
Indian Economy ◽  
The World ◽  
Daily Wage ◽  
Liberalisation Policy ◽  
The International Monetary Fund

The COVID-19 pandemic identified in Wuhan, China in December 2019, has spread almost to all the countries of the world. The mitigation measures imposed by most of the nations to prevent the spread of COVID-19 have badly hit the global economic activities. As per the latest estimates, the world economy is predicted to decline by 5.2 percent, and world trade is expected to drop by 13-32 percent in 2020 due to the COVID-19 pandemic. In this way it has created havoc in the world economy and the Indian economy is no exception. The International Monetary Fund (IMF) has estimated the Indian GDP growth at 1.9 percent and showed the worst growth performance of India after the liberalisation policy of 1991. According to the World Bank, the Indian economy will contract by 3.2 percent in 2020-21. Daily wage labourers and other informal workers, particularly migrant labourers of economically poor states were the worst hit during the lockdown period and will continue to be adversely affected even after the lockdown was relaxed. The paper suggested multiple measures to support the Indian economic and financial support to all the families of the informal economy workers to tide over this crisis.

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