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This study investigates the phenomenon of quasi-social movements that emerged during the August 25, 2025 protests in Indonesia. Quasi-social movements are defined as forms of public mobilization that appear to arise spontaneously, lack formal organizational structures, and are often leveraged for particular political agendas. Using a qualitative method supported by literature review, this research examines social movement theories, the functions of social media, and the socio-political dynamics that shaped the protests. The findings indicate that the protests were not purely the result of spontaneous civic engagement, but were instead driven by top-down mobilization orchestrated by elite actors through digital narratives, disinformation, and the broader influence of communication technology. This phenomenon signals a shift in the relationship between citizens and the state, including evolving patterns of political participation that do not always follow organized forms. The protests further illustrate how mass mobilization in the digital era can be generated through narrative construction and manipulation of public perception. In conclusion, quasi-social movements represent a new pattern of technology-mediated political expression, highlighting the need for more critical perspectives on modern forms of social mobilization.

The rapid development of Islamic banking in Indonesia faces significant challenges in maintaining liquidity and profitability amidst dynamic capital market conditions. The urgency of this study arises from the need to examine whether traditional financial ratios, such as the Financing to Deposit Ratio (FDR) and Return on Equity (ROE), play a decisive role in influencing investment decisions, which are proxied by the Price to Earning Ratio (PER). The main objective of this research is to empirically test the effect of liquidity and profitability, both partially and simultaneously, on investment decisions in Islamic commercial banks listed on the Indonesia Stock Exchange during the 2021–2025 period. This study adopts an associative design with a quantitative approach, utilizing secondary data from financial reports obtained from the IDX, and analyzed using multiple linear regression on 68 observation samples. The findings reveal that neither liquidity nor profitability significantly influence investment decisions, either partially or simultaneously. These results suggest that investors in the Islamic banking sector tend to prioritize non-financial factors such as sharia compliance, governance, macroeconomic conditions, and ESG trends, rather than conventional financial indicators. In conclusion, this research extends the understanding of the limitations of Signaling Theory in the sharia context and recommends the development of a more holistic investment evaluation model. Future studies are encouraged to incorporate non-financial variables for a more comprehensive analysis.