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The capital market plays a strategic role in supporting national economic growth through its function of raising funds and providing investment vehicles for the public. However, the integrity of the capital market is often threatened by the practice of insider trading, which involves securities transactions conducted using material, non-public information by certain parties for personal gain. This practice violates the principles of fairness and transparency and has the potential to harm public investors and undermine confidence in the capital market. This study aims to analyze the law enforcement mechanisms for insider trading in the Indonesian capital market and examine legal protection efforts for investors. The research method used is qualitative research with a descriptive approach through a literature review of laws and regulations, scientific journals, books, and publications from the Financial Services Authority (OJK) and the Indonesia Stock Exchange. The results indicate that law enforcement against insider trading is carried out through mechanisms of supervision, investigation, and the imposition of administrative, civil, and criminal sanctions. However, the effectiveness of law enforcement still faces various challenges, particularly in proving the use of insider information and the complexity of transaction technology. Furthermore, insider trading negatively impacts investor confidence and capital market stability. Investor protection efforts are implemented through a preventative approach, including information disclosure, supervision, and investor education, as well as a repressive approach through legal sanctions, dispute resolution, and whistleblower protection. This research is expected to provide theoretical contributions to the development of capital market law and practical recommendations for strengthening law enforcement and investor protection in Indonesia.

The financial crisis experienced by PT Garuda Indonesia Tbk prompted the company to enter into a Debt Payment Suspension (PKPU) process as a legal measure to avoid bankruptcy and restructure its finances. The complexity of debt, liquidity pressures, and post-pandemic operational challenges have made PKPU a strategic instrument for obtaining debt payment deferrals and formulating a settlement plan that is acceptable to creditors. This study aims to analyze how the implementation of PKPU affects Garuda's rescue efforts from the threat of bankruptcy and assess the extent to which the debt restructuring resulting from PKPU in 2021–2023 effectively improves the company's financial condition. The method used is normative legal research with a legislative, conceptual, and case study approach to the homologation decision and Garuda Indonesia's official financial reports. The results of the study show that PKPU provides legal certainty for debtors and creditors through a collective postponement mechanism, and debt restructuring has been proven to significantly reduce the company's liabilities from around US$10.1 billion to around US$4.6 billion, while improving financial and operational stability in the short to medium term. In conclusion, PKPU serves as an effective corporate rescue instrument, while post-PKPU debt restructuring provides a strong foundation for Garuda Indonesia's financial recovery, although long-term sustainability still depends on the consistent implementation of the peace plan and the company's operational performance.

. Corruption is an extraordinary crime that has a systemic impact on economic stability, governance and the protection of human rights. Indonesia and Singapore show significant differences in the effectiveness of corruption eradication, despite both applying the rule of law principle. Indonesia established the Corruption Eradication Commission (KPK) through Law Number 30 of 2002 jo. Law No. 19/2019 as an independent institution with powers to investigate and prosecute, but its effectiveness has been weakened by political interference, regulatory revisions, and bureaucratic obstacles. Singapore, on the other hand, relies on the Corrupt Practices Investigation (CPIB) under the Prevention of Corruption Act 1960, which has historical legitimacy, stable political support, and consistent regulations. This difference in effectiveness is reflected in the 2024 Corruption Perception Index, where Indonesia ranks 99th with a score of 37/100, while Singapore ranks 3rd with a score of 84/100. Although the KPK normatively has broader authority, 2024, where Indonesia ranked 99th with a score of 37/100, while Singapore ranked 3rd with a score of 84/100. Although the KPK normatively has broader authority, empirical results show that the success of corruption eradication is determined by institutional integrity, regulatory consistency, and structural independence. This research uses a normative juridical method with a literature study approach and deductive thinking method to analyze the legal basis, and implementation of the two institutions. The results of this study found that the differences between the anti-corruption institutions of the two countries do not merely depend on legal instruments, but on political structure, organizational culture, and institutional commitment in upholding integrity. It is expected to provide normative recommendations to strengthen Indonesia's anti-corruption institution, namely the KPK, through structural, regulative, and institutional reforms

The rapid expansion of digital technology has intensified the circulation of pornographic content, making it increasingly accessible across various online platforms and posing significant risks to social, psychological, and moral stability. This study aims to examine the underlying factors contributing to the spread of pornographic content, its impact on individuals and society, and the urgency of strengthening regulatory and preventive measures. Using a qualitative approach supported by interviews and questionnaires distributed to university students in Jatinangor and Bandung, the research explores public perceptions, access patterns, and social responses regarding pornography in digital spaces. The findings reveal that most respondents consider pornography dissemination a deviant behavior, with economic motives and revenge-driven actions emerging as predominant driving factors. The study also shows that existing legal regulations are perceived as insufficient in mitigating the rapid growth of pornographic content online. These results highlight the importance of enhancing digital literacy, strengthening law enforcement, and promoting moral education to reduce the risks associated with pornography exposure. The study contributes to a deeper criminological understanding of deviant behavior in digital environments and underscores the need for collaborative societal efforts to address this phenomenon.

Criminal offenses of theft are one of the most frequent forms of crime in society and have wide-ranging impacts, not only on the individual victim but also on legal order and social stability. This study aims to analyze the impact of theft offenses on legal order and social life, while also examining the role of criminal law in addressing such crimes. The research method used is qualitative with a descriptive approach through literature study, observation, and interviews with law enforcement officers and the public. The results of the study show that the prevalence of theft offenses can decrease public safety, weaken public trust in law enforcement agencies, and disturb social order and harmony. Furthermore, theft also leads to a decline in legal compliance and an increase in the potential for vigilante justice. Therefore, consistent, effective, and just law enforcement is required, along with increasing public legal awareness as efforts to maintain legal order and create a safe and orderly social life.

This study aims to analyze the influence of macroeconomic variables in the form of the dollar exchange rate, inflation, and Gross Domestic Product (GDP) on the Composite Stock Price Index (JCI) in Indonesia for the period 2010–2024. The research method used is a quantitative approach with multiple linear regression analysis using time series data obtained from Bank Indonesia, the Central Statistics Agency (BPS), and the Indonesia Stock Exchange (IDX). The data analysis technique was carried out through classical assumption tests and hypothesis testing to determine the relationship between variables. The results of the study show that partially GDP has a significant effect on the JCI, while inflation and the dollar exchange rate tend not to have a significant effect. However, simultaneously these three variables have a significant influence on the JCI. These findings show that macroeconomic stability is very important in maintaining the performance of the capital market in Indonesia and can be a reference for investors in making investment decisions. In addition, the results of the study confirm that national economic growth is the main indicator that market participants pay attention to in assessing investment prospects. Therefore, the government needs to maintain economic stability through effective and sustainable fiscal and monetary policies.

Over the past 20 years, developments in digital technology have led to the emergence of financial innovation in the form of cryptocurrencies, with Bitcoin being the main pioneer. Bitcoin is a decentralized, blockchain-based electronic payment system that is not controlled by a single financial institution. Although its presence facilitates quick and straightforward cross-border transactions, it also raises ethical and legal issues, especially when taking into account Islamic law, which strongly emphasizes justice, certainty, and the welfare of society. This paper aims to investigate the usage of Bitcoin in modern economic transactions from the standpoint of Islamic and international law. This study investigates Islamic legal sources, the views of Islamic scholars, fatwas (religious decrees), and international laws and regulations pertaining to cryptocurrency assets using a qualitative, normative-empirical methodology. The results show that, although opinions among scholars differ, the usage of Bitcoin is subject to ijtihadiyah (Islamic ijtihad) in Islamic law. Some reject it because of its great volatility and speculative potential, while others allow it as long as it provides advantages and does not include riba, gharar, or maysir (the risks associated with gambling). In terms of international law, Bitcoin is typically seen as a digital asset that has to be closely watched in order to preserve economic stability and deter financial crime. Therefore, balanced legislation is required to guarantee that the usage of Bitcoin is in line with the principles of sharia maqasid and global economic fairness.

The administration of population services in Rumbai Timur District continues to face challenges following the regional expansion that required residents to update their civil documents. The SIPENDUDUK website was introduced to simplify digital submissions; however, its implementation has not been fully effective. A portion of the community, particularly older adults and individuals with low digital literacy, still struggles to navigate service flows and upload required documents. This study aims to evaluate the service quality of the SIPENDUDUK website in improving the effectiveness of civil administration services. A descriptive qualitative method was employed through observations and interviews with officers and service users. The findings indicate that although the website has facilitated administrative processes, its accessibility has not yet reached all user groups due to varying technological capabilities. The system shows adequate efficiency and stability, although several technical issues remain. Service security is maintained through controlled access and a simplified interface. User support is provided through direct assistance from the local office, including manual guidance and mobile outreach services. These results highlight that the success of digital services depends not only on system quality but also on user readiness. This evaluation is expected to contribute to improving the effectiveness, inclusiveness, and overall quality of population administration services in Rumbai Timur District.

The banking sector is a strategic pillar that supports national economic stability and relies heavily on public trust. To maintain this legitimacy, banks are required to implement Corporate Social Responsibility (CSR), which is not only a moral obligation but also a legal duty as regulated in several laws such as Law No. 40 of 2007 on Limited Liability Companies and Law No. 21 of 2011 on the Financial Services Authority (OJK). This study aims to analyze the responsibility of OJK in managing Corporate Social Responsibility (CSR) funds based on the principles of Good Governance and to examine the role of banking institutions in maintaining public trust through transparent and accountable Corporate Social Responsibility (CSR) practices. This research employs a normative juridical approach by reviewing relevant legislation, literature, and regulatory documents. The results show that OJK holds normative, institutional, and legal responsibilities in supervising Corporate Social Responsibility (CSR) implementation to ensure compliance with the principles of transparency, accountability, independence, responsibility, and fairness. Meanwhile, banking institutions play a crucial role in ensuring that Corporate Social Responsibility (CSR) becomes an integral part of their sustainability strategy rather than a mere administrative formality. The application of Good Corporate Governance (GCG) has a positive impact on increasing public trust, as transparency and accountability in Corporate Social Responsibility (CSR) management strengthen the social legitimacy of banking institutions. Therefore, synergy between OJK and the banking sector in enhancing Corporate Social Responsibility (CSR) governance is the key to achieving an ethical and sustainable financial system.

This study examines the constitutional systems of Denmark and Sweden as two of the most stable and advanced models of modern constitutional monarchy in the world. While maintaining the institution of monarchy, both countries have successfully integrated the principles of parliamentary democracy, parliamentary supremacy, and strict limitations on executive power, so that the monarch plays a purely symbolic role in the state. Using a normative-comparative legal research method that focuses on the 1953 Danish Constitution and the 1974 Swedish Instrument of Government, this study traces the historical evolution, constitutional structure, mechanisms of government formation, legislative oversight, and the role of the judiciary in both countries. The results of the study show that Denmark has retained a number of historical formulations regarding the power of the king in the text of the constitution, but all of these powers are symbolic in nature because they are controlled by parliamentary convention. Sweden, through its 1974 reforms, opted for a more decisive model by explicitly removing all political roles of the monarchy. Despite differences in constitutional design, both countries share fundamental similarities in their egalitarian political culture, bureaucratic professionalism, political consensus, and parliamentary rule mechanisms that create governmental stability.Further analysis shows that the continuity of the monarchy in both countries is inseparable from peaceful historical transformation, the monarchy's ability to adapt to democratization, and its role as

The 17+8 demands voiced by the public reflect the accumulation of disillusionment with various government policies and violations committed, especially by the House of Representatives (DPR). Policies that are considered unfair and detrimental to the public trigger a strong push to carry out reforms that are more democratic and oriented towards the interests of the people. Various factors such as human rights violations, lack of transparency and accountability, economic inequality, and polemics related to official allowances are the main triggers for the birth of these demands. The demands of 17+8 not only contain burdens or criticisms, but also contain short-term and long-term goals that can be the basis for improving governance. This momentum should be seen as a strategic opportunity to strengthen democracy, improve state-citizen relations, and restore public trust. If these demands are taken seriously, the government has the potential to reduce the legitimacy crisis and improve the quality of public services. On the contrary, ignoring such demands can deepen public distrust and worsen political stability. Thus, the demands of 17+8 are an important signal for the need for structural change and a real commitment to realizing a fairer, more transparent, and responsive government.

This study analyzes the practice of staple food price manipulation at Cik Puan Market in Pekanbaru, which is alleged to be carried out by a group of traders through stockpiling, supply coordination, and price regulation that could potentially cause market distortions. This phenomenon has led to unreasonable price increases in strategic commodities such as chili, onions, rice, cooking oil, and chicken, thereby negatively affecting consumers and regional economic stability. This research uses a normative juridical approach with descriptive qualitative analysis methods, supported by empirical data from local government reports, official news, and findings from trade department supervision. The results of the study indicate that these price manipulation practices are in violation of Articles 5, 11, and 19 of Law No. 5 of 1999 about Consumer Protection. This study emphasizes that the weak supervision of the supply chain in traditional markets, as well as the minimal coordination between agencies, causes price manipulation practices to continue repeatedly. It is necessary to strengthen law enforcement, ensure transparency in the distribution of basic necessities, and enhance the role of local governments and the KPPU in order to create stable, competitive, and fair prices for the public.

The 2024 regional elections in Jambi City sparked internal conflict within the Golkar Party when the recommendations of the Regional Representative Council II did not align with the Central Executive Board's decision regarding the mayoral candidate. The tension was successfully resolved through the implementation of procedural leadership based on the party's statutes and regulations, as well as a tiered nomination mechanism. This study aims to understand the role of procedural leadership in restoring solidarity and maintaining organizational stability after a nomination conflict. Using a qualitative approach with case studies, the study collected data through in-depth interviews and documentation with informants selected through purposive and snowball sampling. Data analysis was conducted using the Miles & Huberman model through data reduction, presentation, and conclusion drawing. The results show that procedural mechanisms, the use of surveys, and the exemplary behavior of charismatic figures particularly the chair of the DPD IIplay an important role in alleviating cadre disappointment. This study confirms that procedural leadership is a key instrument in maintaining the solidarity of the Golkar Party and recommends strengthening internal communication and balancing surveys with regional aspirations.

This research discusses Indonesia's national identity in the framework of citizenship using the perspective of Fiqh Siyasah. The background of this research is the importance of integrating Islamic values in strengthening a pluralistic national identity in the midst of the social, political, and cultural dynamics of modern society. The purpose of this study is to examine the relationship between the concept of modern citizenship and the principles of Fiqh Siyasah and its implications for strengthening national identity. The research method used is a qualitative study with a literature analysis approach, which allows the author to explore various classical and contemporary sources related to the concept of citizenship in Islam and its application in Indonesia. The results of the study show that the values of Fiqh Siyasah, such as justice, benefit, and unity, can be a moral and ethical foundation in strengthening Indonesia's inclusive, democratic, and equitable national identity. In addition, its implementation can strengthen the sense of responsibility of citizens in maintaining the stability of the nation. The conclusion of the study emphasizes the importance of collaboration between Islamic thought and national principles to build a sustainable national identity that is adaptive to the changing times.

The emergence of a single candidate in the 2024 Batang hari Regional Election represents an interesting illustration of political party strategies in responding to local democratic dynamics. This study aims to analyze the formation of a grand political coalition through the seek efficiency perspective, referring to the concept of political efficiency proposed by(Pamungkas & Parlindungan, 2011). This research employs a qualitative descriptive approach, with data collected through interviews, documentation, and online media analysis. The findings reveal that the establishment of a grand coalition supporting the incumbent pair, Fadhil Arief and Bakhtiar, was primarily motivated by political efficiency considerations in utilizing resources such as time, energy, and cost. Cross-party cooperation was viewed as a strategic measure to enhance campaign effectiveness and strengthen electoral support. For core parties such as PPP and NasDem, this efficiency became more evident once the coalition operated with proper coordination and proportional role distribution. Overall, the study illustrates that coalition formation in Batang Hari reflects a form of rational political behavior oriented toward effectiveness and efficiency, as well as an effort to strengthen local democratic stability through productive political collaboration

This study aims to conduct an in-depth analysis comparing the legal mechanisms of constitutional amendment in Indonesia and South Africa. The research employs a normative juridical method with a comparative law approach. Primary data is sourced from the authoritative texts of the 1945 Constitution of the Republic of Indonesia (UUD 1945) and the Constitution of the Republic of South Africa, 1996. Data analysis is conducted qualitatively using content analysis techniques on provisions related to constitutional amendments in both supreme legal documents. The research findings reveal fundamental differences in the constitutional amendment paradigms of both countries. First, Indonesia adopts a rigid amendment system implemented by the People's Consultative Assembly (MPR) with very strict quorum and approval requirements. Second, South Africa adopts a more flexible and differentiated system, where Parliament acts as the constituent authority, with varying approval levels depending on the substance of the amended provisions ranging from simple majority to two-thirds, and even involving the Provincial Council for certain matters. Third, despite different approaches, both countries affirm the principle of constitutional supremacy. These mechanistic differences reflect Indonesia's strategic choice to prioritize consensus and constitutional stability, while South Africa emphasizes constitutional adaptability and responsiveness to socio-political developments.

In international relations, it is very necessary to pay attention to what a country can and cannot do when interacting with other countries as a form of respect for sovereignty and international norms. Relations between countries in international life also include the involvement of international organizations that have an important role in maintaining global stability. In accordance with the goal of international organizations to resolve conflicts between countries, one of the conflicts that must be of concern to the world is armed conflict. One of the wars that is still in the spotlight to this day is the war between Israel and Palestine in the Gaza Strip. The research method used in this article is a normative legal research method with a literature approach and a case approach, namely related to war crimes in the Israeli-Palestinian conflict in the Gaza Strip. The United Nations as part of an international organization within the framework of the Law of the International Organization has made various efforts to maintain peace in Palestine. However, because this war is one of the most complicated, protracted, and fraught with international political importance, its resolution still faces various obstacles that make it difficult to end the conflict to this day.

This study examines the solidity of the National Mandate Party (PAN) in Merangin Regency during the 2024 Simultaneous Local Elections, which unfolded amid notable political dynamics and differing preferences between the party’s central and regional structures. Party solidity is analyzed using Firman Noor’s theory of party solidity, focusing on procedural leadership represented by two key indicators: decision-making mechanisms and the role of charismatic leadership. The study aims to understand how these indicators influence PAN Merangin’s organizational stability throughout the process of determining political support. Using a qualitative case study approach, data were collected through in-depth interviews, documentation, and media reports, then analyzed using the Miles and Huberman interactive model consisting of data reduction, data display, and conclusion drawing. The findings reveal that although PAN Merangin formally implemented decision-making procedures according to the party’s statutes (AD/ART), the practice remained dominated by top-down communication from the central board (DPP), limiting regional participation in strategic political decisions. Meanwhile, the charismatic leadership of the PAN Merangin Chairman played a crucial role in maintaining organizational cohesion, reducing internal tensions, and ensuring cadre loyalty to central decisions. These results suggest the need to strengthen two-way structural communication and enhance the capacity of local party leaders to reinforce party solidity in future political contests.

This paper examines the anatomy of extremism in Pakistan by analyzing its ideological, socio-economic, and geopolitical dimensions, as well as assessing the efficacy of the state’s counter-extremism responses. Extremism in Pakistan has evolved from sectarian and jihadist origins into a multidimensional threat fueled by ideological radicalization, socio-economic disparity, digital propaganda, and regional instability following the Taliban’s resurgence in Afghanistan. Despite significant tactical successes through military operations such as Zarb-e-Azb and Radd-ul-Fasaad, the state’s strategy remains constrained by weak policy coordination, limited ideological reform, and insufficient civilian engagement. The paper argues that Pakistan’s counter-extremism framework must move beyond reactive security measures toward proactive socio-political transformation. It proposes a reimagined strategic approach centered on five pillars: (1) reframing the National Action Plan (NAP 2.0) with stronger institutional coordination, (2) comprehensive education and madrassa reforms, (3) youth engagement and socio-economic reintegration, (4) digital resilience to counter online radicalization, and (5) regional cooperation through multilateral platforms such as the SCO. The study concludes that enduring resilience against extremism requires a whole-of-nation approach that integrates ideological pluralism, governance reform, and regional diplomacy to transform Pakistan’s counter-extremism policy from containment to long-term stability and inclusive national identity.

Corruption in Indonesia has become a systemic and complex issue, posing a threat to economic, social, and political stability. Despite various efforts, including the establishment of the Corruption Eradication Commission and robust law enforcement, Indonesia’s Corruption Perception Index has remained stagnant or declined in recent years. This is primarily due to the inadequacy of conventional audit methods, which struggle to detect complex and hidden corruption schemes. This study examines how the role of investigative audits by the Supreme Audit Agency (BPK) can be optimized through synergy with the Whistleblowing System (WBS) to enhance corruption eradication efforts in Indonesia. Investigative audits, which focus on detecting fraud, are crucial as they can convert audit evidence into legal proof in corruption cases. However, the BPK’s role is often hindered by limited human resources, independence, and weak coordination. Using qualitative research and a literature review, this study analyzes relevant documents, books, scientific journals, and official reports to identify and classify relevant data. The findings indicate that strong synergy between BPK's investigative audits and the WBS is essential. Optimizing these two instruments requires significant reforms, including strengthening whistleblower protection laws, improving inter-agency collaboration, and fostering a robust anti-corruption culture. The study concludes that BPK’s investigative audits are effective in uncovering state losses, but their success depends on follow-up actions and coordination with law enforcement. The WBS can detect corruption early, but its effectiveness is limited by weak whistleblower protection and lack of trust in internal reporting channels.