Publication Search

The Suspension of Debt Payment Obligations (PKPU) is a rehabilitative mechanism, but it is susceptible to bad faith abuse. This case study examines Homologation Decision No. 62/Pdt.Sus-PKPU/2021/PN Niaga Sby, where judges ratified a composition plan creating a "Previous Trade Creditors" category. This clause, targeting unregistered creditors, effectively resulted in a 95% debt write-off, injuring the Principle of Justice. This research aims to analyze the judges' legal considerations in ratifying this clause and examines their failure to apply material judicial obligations regarding the debtor's bad faith. This research utilizes a normative juridical method with a statute and case study approach. The analysis is qualitative, examining the decision and relevant legislation, supplemented by an interview with a practicing Commercial Court judge. The primary finding is that the judges' considerations were overly positivistic, focusing only on the formal voting quorum (Article 281, UU KPKPU). They failed to execute their imperative duty under Article 285(2)(c) to reject a plan achieved via "dishonest means". The 95% write-off is prima facie bad faith and is punitive, not rehabilitative. The judges misinterpreted the Publicity Principle; non-registration should only cause the loss of voting rights (procedural), not the loss of claim rights (substantive). This failure of material judicial review legitimized the abuse of the PKPU institution.  

Business entities often face bankruptcy risks due to various factors, including accounting errors, limited experience, or small-cap transactions. The COVID-19 pandemic exacerbated financial conditions for many companies, such as PT Garuda Indonesia (Persero) Tbk., which experienced a significant revenue decline. Additionally, individuals may face bankruptcy due to reasons like job termination or business failures. The primary cause of bankruptcy lies in the imbalance between debt and income, often worsened by poor financial planning. Government regulations can help mitigate bankruptcy risks, such as through health insurance and credit restrictions. The bankruptcy process aims to provide fair resolutions between debtors and creditors while safeguarding public interests. Bankruptcy can also offer debtors the opportunity to restructure their debt, maintain economic stability, and prevent social loss. In practice, bankruptcy involves the management of the debtor's assets by a trustee and the proportional distribution of proceeds to creditors. The application of freedom of contract and legal certainty principles in debtor-creditor relationships is crucial to ensuring a transparent, efficient, and equitable process.

The execution of Mortgage Rights (Hak Tanggungan) represents legal certainty as regulated in Law Number 4 of 1996 concerning Mortgage Rights. Execution of the collateral object can be carried out through private sale, parate execution, or based on an executorial title. This mechanism reflects good faith and trust between the creditor and debtor in a lending agreement. In line with Sharia principles, the murabahah financing contract also allows for collateral (rahn tasjily), granting the creditor the authority to execute the collateral object if the debtor defaults. This study aims to analyze the implementation of Mortgage Rights execution in Sharia financing, specifically under the murabahah contract. The method used is normative juridical research with a descriptive approach, employing statutory and case study analysis, and based on literature and relevant regulations. The results indicate that land rights can serve as collateral under Mortgage Rights in Sharia financing. This is confirmed in the Supreme Court Decision Number 179K/Pdt/2017, which serves as jurisprudential precedent for Decision Number 3/Yur/2018, where the collateral is executed through a Deed of Granting Mortgage Rights. The position of the creditor in a murabahah contract is equivalent to that in conventional financing, as confirmed in the DSN-MUI Fatwa, thus the creditor retains the right to execute even if the debtor defaults before the due date.

This study examines the influence of credit interest rates and third-party funds on the credit distribution of PT BPR BKK Banjarharjo, Brebes Regency, using a quantitative approach based on secondary data from monthly financial reports between 2020 and 2024, amounting to 60 observations. The results show that, partially, credit interest rates exert a negative and significant effect on credit distribution, while third-party funds demonstrate a positive and significant impact. Simultaneous testing further confirms that both variables collectively have a significant influence on credit distribution. These findings emphasize the importance of banking institutions in carrying out their intermediation function effectively, where the ability to maintain competitive credit interest rates and strengthen public fund mobilization becomes a strategic necessity to improve credit growth and financial stability. Moreover, the study highlights the role of micro-banking as a foundation for regional economic development, particularly in rural areas where local banks serve as drivers of community empowerment and sustainable economic activity. By reinforcing prudent management of interest rates and optimizing fund collection, banks can ensure not only improved financial performance but also the expansion of credit access for micro, small, and medium enterprises. The outcomes of this research are expected to provide practical contributions to policymakers in the banking sector, enrich scientific literature in financial management, and serve as a relevant reference for subsequent studies focusing on credit distribution, financial intermediation, and the development of microfinance institutions.

The financial sector plays an important role in promoting Indonesia's economic recovery. This study was conducted to determine the effect of credit to priority sectors on economic growth on the island of Sumatera. The data analysis technique used is dynamic panel data regression analysis with the system-GMM approach. The results of this study indicate that credit for the agricultural, forestry, and fishery sectors; manufacturing sector; the accommodation and food and drink provision sector can increase economic growth on the island of Sumatera, while the construction sector credit; wholesale and retail trade sector; and the transportation and warehousing sectors have a negative influence on economic growth. This shows that the credit of the banking sector has a positive and negative influence on economic growth on the island of Sumatera. Therefore, banks and the government are expected to increase financial literacy to the community and improve internet facilities, especially in rural areas.

This research examines compliance with gold pawn guarantee execution procedures from a civil law perspective, using a case study of Medan District Court Decision Number 738/Pdt.G/2023/PN Mdn. The background to this research stems from the growing practice of gold pawning in society as a solution for quick cash needs, but it often raises legal issues related to the execution process of the pawned goods. The issues raised in this paper are the procedures for executing gold pawn guarantees according to applicable law and whether PT. Gadai Mas Sumut's actions in this case comply with legal provisions. This research method uses a normative juridical approach by examining Articles 1150-1160 of the Civil Code, the Consumer Protection Law, and PMK Number 122 of 2023. The analysis shows that, normatively, creditors have the right to execute pawned goods if the debtor defaults. However, execution must be carried out in accordance with legal procedures, the principle of good faith, and transparency, including through a public or voluntary auction. In the case of PT. In the case of the North Sumatra Gold Pawn, the execution was carried out without adequate notification and without evidence of an official auction, thus being deemed to have failed to meet the principle of legal compliance. Therefore, this article concludes that gold pawn execution practices must be based on the principles of legal certainty and debtor protection to prevent similar losses and disputes in the future.

Debt disputes often occur in business relationships. Sometimes debtors do not pay their debts, causing problems regarding debt repayment. One of the legal steps taken by creditors is to file a petition for bankruptcy with the Commercial Court. The requirements for bankruptcy in Indonesia are relatively straightforward, making it easy for debtors to be declared bankrupt. This is detrimental to debtors, as bankruptcy has significant implications for the sustainability of their businesses. This situation raises questions about how debtors can obtain justice in bankruptcy cases. Supreme Court Decision No. 1714 K/Pdt.Sus-Pailit/2022 serves as the case study for this research. In that decision, the judge rejected the bankruptcy petition despite it meeting the requirements of Article 2(1) of the Bankruptcy Law, as the judge believed there were still options for a simple lawsuit and the impact of bankruptcy was not proportional to the value of the debt in question. This paper was written using the normative legal research method. This study will use a regulatory approach, a conceptual approach, and a case approach. The results of this study show that debtors who are petitioned for bankruptcy

Islamic Financial Institutions play a vital role in strengthening the Islamic economy in Aceh, particularly through financing micro businesses. Article 14 of Qanun Aceh Number 11 of 2018 sets a target of 40% profit-sharing-based financing for Micro, Small, and Medium Enterprises (MSMEs) by 2024. However, the realization of financing with profit-sharing contracts is still low. This study aims to examine the implementation of Qanun Number 11 of 2018 in facilitating micro business financing in Aceh, identify obstacles in its implementation, and analyze the roles of the government, society, and the private sector in supporting this process. The study uses an empirical juridical method, collecting data through literature studies, interviews, and observations. Data analysis is conducted qualitatively with a prescriptive analytical approach. Challenges to financing distribution include business actors not meeting credit quality assessments and prudential banking standards, causing banks to implement risk management strategies to prevent non-performing loans. Additionally, low financial literacy among business actors remains a significant barrier. The local government supports micro business financing by establishing the Technical Implementation Unit of the Integrated Business Service Office, providing financial assistance, and introducing the draft Qanun of Aceh Sharia Financing Guarantee. Bank Aceh Syariah offers training and coaching for MSMEs, while Bank Syariah Indonesia aids MSMEs through the MSME Center and the Muslim Entrepreneur program. Improving financial literacy is essential for business development. The study recommends that the Aceh Government strengthen the implementation of Qanun Sharia Financial Institutions, increase profit-sharing-based MSME financing, and promote financial literacy.

One of the organs of a Limited Liability Company that often becomes a guarantor of a company’s debt is the Board of Directors. In practice, when a company can no longer carry out its obligations to pay debts, the guarantor is often bankrupted together with the debtor. Article 2 paragraph (1) jo. Article 8 paragraph (4) of the Bankruptcy and PKPU Law states that if the Debtor has two or more Creditors and has debts that are due and collectible, then the request for a bankruptcy statement must be granted if there are facts or circumstances that are proven simply. This research was conducted to examine the legal considerations of judges regarding the application of simple proof in Decision Number 20/Pdt.Sus-Bankruptcy/2022/PN.Niaga.Smg and what the implications are for the Directors of the company who act as a personal guarantee for their company’s debt. The results showed that the legal consideration of the majority of the Panel of Judges examining the case are not entirely in accordance with the Bankruptcy and PKPU Law, as the panel of judges only focused on fulfilling formal requirements without considering the principles of bankruptcy, which will have a broad impact on the parties involved. In addition, the juridical implications arising from the decision are that the Directors of the company as a personal guarantee remains personally responsible for the company’s debt, thus causing bankruptcy for him and the company.

The 2020–2024 period is a crucial time for the Indonesian economy, which is facing severe pressure due to the COVID-19 pandemic and global economic dynamics. This study aims to analyze the development of the national economic condition over the past five years through key macroeconomic indicators, such as Gross Domestic Product (GDP), Foreign Direct Investment (FDI), forest area, industrial sector contribution, high-tech exports, domestic credit, trade in goods, and gross national income per capita (GNI per capita). The method used is descriptive quantitative based on data from the Central Statistics Agency (BPS) and secondary sources from national and international institutions. The results show that despite a contraction in 2020 due to the pandemic, the recovery process has been rapid since 2021, with stable economic growth in the range of 5% until 2024. Increased GNI per capita, improved foreign investment flows, and the expansion of economic digitalization are key factors strengthening national resilience. However, challenges remain, such as a decline in the industrial sector's contribution and a reduction in forest area. These findings confirm that Indonesia's economic development is moving toward a structural transformation oriented toward sustainability, sector diversification, and social inclusiveness. Overall, the 2020–2024 period reflects a phase of recovery and restructuring of the economic foundations toward achieving the Vision of a Golden Indonesia 2045 with global competitiveness.

This article analyzes the fundamental differences between the mechanisms of fund collection and fund distribution in Islamic banks and conventional banks in Indonesia, based on DSN-MUI Fatwas and banking regulations. In general, both types of banks serve the same function—to collect and distribute funds to support economic activities. However, the main distinction lies in their operational principles. Conventional banks operate using a fixed interest system, establishing a creditor–debtor relationship. In contrast, Islamic banks operate based on Sharia principles that prohibit riba (usury). In fund collection, conventional banks use interest-based savings and deposit products, while Islamic banks apply Wadiah (safekeeping) and Mudharabah (profit-sharing investment) contracts. Regarding fund distribution, conventional banks provide interest-bearing loans, whereas Islamic banks offer financing through Sharia contracts such as Murabahah (cost-plus sale), Musyarakah (partnership), Mudharabah (profit-sharing), and Ijarah (leasing), emphasizing cooperation and risk-sharing. Although Islamic banking is regulated under Law No. 21 of 2008 and DSN-MUI Fatwas, it still faces several challenges, including the dominance of Murabahah financing and the low level of public literacy regarding Islamic financial systems.

Islamic banking plays a crucial role in providing financing in accordance with Islamic principles, including through the Home Ownership Credit (KPR) product. This study aims to analyze the implementation of the Murabahah and Musyarakah Mutanaqishah (MMQ) contracts in the iB Hijrah KPR financing product at Bank Muamalat KCP Rancaekek. The Murabahah contract is implemented through a sale and purchase mechanism, where the bank purchases the house the customer needs and resells it with an agreed profit margin, thus providing price certainty and a simple process. Meanwhile, the MMQ contract is based on a partnership between the bank and the customer with a concept of joint ownership that gradually decreases, thus creating flexibility and a more balanced risk sharing. This study uses a qualitative descriptive approach with data collection techniques through literature studies, interviews, and observations. The results of the analysis show that the majority of customers prefer the Murabahah contract due to its simplicity, although in the long term, MMQ is seen as more economical and fair. Thus, both contracts are equally relevant to support Sharia-based home ownership. This research is expected to contribute to Islamic banking in improving service quality, strengthening Islamic financial literacy, and encouraging innovation in competitive and sustainable financing products.

This study aims to analyze the implementation of the murabahah contract in the Home Ownership Credit (KPR) financing product at Bank Syariah Indonesia (BSI) Cimahi Branch Office. This study uses a descriptive qualitative method with data collection through interviews, observation, and documentation. The results show that the KPR financing mechanism at BSI Cimahi Branch Office has been running in accordance with sharia principles established by the National Sharia Council (DSN-MUI). The process starts from customer application, wakalah contract, to the implementation of the murabahah contract with the principle of transparency of the principal price and profit margin agreed in advance and fixed throughout the financing tenor. The implementation of this system provides payment certainty for customers and protects against the risk of interest rate fluctuations. In terms of performance, Murabahah KPR financing at BSI Cimahi Branch Office has contributed significantly to the financing portfolio with a low level of Non-Performing Financing (NPF) and positive growth every year. However, challenges still exist in the amount of the down payment and the attachment of a fixed margin that can be a burden for customers with limited financial capabilities. Overall, the murabahah contract has proven to be an effective, transparent, and sharia-compliant instrument in supporting home ownership for the Muslim community in Indonesia.

value of the bankruptcy estate (boedel pailit) through the going concern principle. Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (UUK-PKPU) allows curators to continue the debtor’s business, particularly under Article 179 paragraph (1). However, the absence of clear normative parameters creates legal uncertainty and inconsistent practices. This study analyzes the application of the going concern principle in the settlement of bankruptcy estates following the annulment of homologated composition agreements and examines the urgency of technical implementing regulations. Using a normative juridical method supported by statutory analysis, court decisions, legal doctrines, and interviews, the research focuses on the cases of PT Sri Rejeki Isman Tbk. (Sritex) and PT Texmaco Perkasa Engineering Tbk. The findings reveal that going concern implementation depends not only on legal provisions but also on non-legal factors, such as transparency, asset control, capital availability, management credibility, and creditor support. Texmaco’s case shows approval when these conditions are met, while Sritex demonstrates rejection due to lack of transparency and unlawful activities. The study underscores the need for a Supreme Court Regulation (PERMA) that establishes eligibility parameters, approval mechanisms, reporting obligations, and curator protection to ensure consistency, legal certainty, creditor protection, and greater economic benefits in Indonesian bankruptcy practice.

This study aims to analyze the financial risk management strategy of PT. Chandra Asri based on the company's 2024 annual report. As the largest petrochemical company in Indonesia, PT. Chandra Asri faces multiple financial risks including market volatility, credit exposure, liquidity constraints, operational disruptions, and systemic shifts due to global energy transitions. Using a qualitative descriptive approach grounded in the ISO 31000 framework, the study examines how the company identifies, assesses, responds to, and monitors each risk category. The findings reveal that while hedging, credit controls, and liquidity management systems are in place, the decline in net income and working capital indicates areas that require stronger adaptation. Additionally, the study highlights the company's strategic shift toward sustainable practices in response to systemic risks. PT. Chandra Asri's integration of sustainability into its risk management strategy showcases a forward-thinking approach, acknowledging the importance of both financial resilience and environmental responsibility. This research contributes to the understanding of risk management practices in the petrochemical sector and provides valuable insights for developing resilient financial strategies amidst global economic uncertainty. It also offers practical recommendations for improving risk management frameworks, ensuring long-term growth and stability in an increasingly volatile global market

The use of BRIMEN (BRI Document Management System) in digital document processing operations during internship activities at the Medan Regional Office of PT Bank Rakyat Indonesia (Persero) Tbk. is the main focus of this article. The objective of this study is to understand how the BRIMEN system contributes to the storage, retrieval, and classification of documents, particularly in relation to credit document management. This system was introduced to address common issues found in manual archiving, such as limited storage space, difficulties in document retrieval, and the risk of errors in preserving clients’ physical records. The research employed a descriptive qualitative approach through direct observation and active participation in daily workflows. The findings indicate that BRIMEN significantly improves operational efficiency by providing a more systematic and secure digitalization procedure for banking documents. The system not only reduces the risk of loss or damage to physical archives but also accelerates the process of data retrieval when required by work units. Through its classification and tracking features, BRIMEN ensures better consistency between digital data and physical documents, although several technical challenges remain, such as restricted access to storage rooms and difficulties in scanning older or non-standard documents. Overall, the results highlight the importance of implementing a well-structured digital document management system to support the smooth operation of modern banking institutions. BRIMEN represents a tangible step in BRI’s digital transformation, strengthening data security while simultaneously improving the quality of credit services delivered to customers. With continuous improvement, this system has the potential to serve as a model for digital document management that can be more widely adopted across Indonesia’s banking sector.

This study aims to examine the use of amortization schedules and the repayment fund approach in Public Housing Credit. By applying quantitative descriptive methods and a case study approach, this study simulates a mortgage with a credit ceiling of Rp163,800,000, a tenor of 15 years, and an interest rate of 5.65% for the first to fifth year and 13% for the sixth to fifteenth year. The results of the simulation show that without any additional strategies, the total interest to be paid reaches Rp138,887,134.14, which is almost equivalent to the total principal loan. However, by using a sinking fund strategy through regular savings of Rp1,000,000 every month (with an interest rate of 0.25% per month) for 5 years, the collected funds are Rp64,444,800 which significantly reduces the remaining principal loan. As a result, the total interest is reduced to Rp87,864,324.85, which means there is a savings of Rp51. 022. 809.29. Furthermore, this strategy has the potential to shorten repayment time. In conclusion, sinking funds are an effective approach to reducing interest burden and accelerating the repayment of Public Housing Loans.

This study aims to examine the effect of liquidity, profitability, leverage, and accounts receivable turnover on financial distress. The sample used in this study is banking companies listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. The population sample in this study is 47 companies. The sample was determined using a purposive sampling method, resulting in 10 companies. The type of data for this study is secondary data obtained from www.idx.co.id. The analytical method used was multiple regression analysis. The results of this study indicate that simultaneously, the variables liquidity, profitability, leverage, and accounts receivable turnover significantly influence financial distress. Partially, the liquidity variable has a negative and significant effect on financial distress, while the profitability variable has a negative and significant effect on financial distress. Leverage and accounts receivable turnover have no effect on financial distress. Furthermore, the Adjusted R-square coefficient is 95.3%, indicating that 4.7% is influenced by other variables. These findings suggest that companies with better liquidity and profitability levels have a lower probability of experiencing financial distress. This aligns with the theory that high liquidity ensures the availability of cash to meet short-term obligations, while strong profitability supports operational sustainability and investor confidence. On the other hand, leverage and accounts receivable turnover did not significantly affect financial distress, which may indicate that banking companies have a more stable debt structure and effective credit management, reducing their influence on distress conditions. This research provides practical insights for company management, investors, and regulators. For managers, maintaining optimal liquidity and profitability levels is essential to prevent financial difficulties. For investors, liquidity and profitability indicators can serve as reliable references for investment decision-making.

Banking is a key pillar of the financial system, playing a crucial role as an intermediary between those with excess funds and those in need of financing. In the context of post-pandemic economic recovery in the 2022–2024 period, bank sustainability and resilience, particularly in terms of profit-generating ability, are crucial aspects to consider. This study was conducted to analyze the extent to which capital structure and intermediation efficiency influence the profitability of banks listed on the Indonesia Stock Exchange. Capital structure in this study is proxied by the Capital Adequacy Ratio (CAR), while intermediation efficiency is measured by the Loan to Deposit Ratio (LDR). The profitability indicator used is Return on Assets (ROA), which reflects a bank's effectiveness in utilizing its assets to generate profits. This research methodology uses a quantitative approach through multiple linear regression analysis with secondary data in the form of annual financial reports from 111 banks for the 2022–2024 period. The analysis results show that simultaneously, CAR and LDR variables have a significant effect on ROA. Furthermore, both variables have been shown to contribute positively to increasing bank profitability. In other words, maintaining adequate capital and efficient credit management can strengthen overall financial performance. This finding offers strategic implications for bank management in formulating capital and liquidity management policies. Optimizing these two aspects not only impacts short-term profit achievement but also contributes to the stability and sustainability of banking profitability in the long term. Therefore, banks need to ensure a strong capital strategy coupled with efficient intermediation to be more resilient in facing future economic dynamics.

The manual credit application process often takes a long time and is prone to various problems, such as recording errors, data redundancy, and the risk of losing important documents. These conditions not only hamper service effectiveness but can also reduce customer satisfaction and the performance of the officers involved. Therefore, this study aims to design and develop a Progressive Web App (PWA)-based credit application system using the Rapid Application Development (RAD) method. This system is expected to be a more efficient, faster, and more accurate solution than the current manual mechanism. PWA was selected based on its ability to provide universal access through a browser without the need for additional application installation, making it more practical for both customers and officers. Meanwhile, the RAD approach allows for an iterative and flexible system development process, with direct user involvement from the design stage through implementation. This aims to ensure the system is truly aligned with real-world needs. The development results indicate that the designed PWA system is capable of supporting the tasks of Account Officers (AO) and Division Heads in managing credit application data. The process includes the pipeline stage, submission, field survey, and credit realization, which is well-documented and accessible in real time. Functional testing using the Black Box Testing method proved that all features functioned according to established specifications. Furthermore, usability testing using the System Usability Scale (SUS) method yielded satisfactory scores, indicating the system's high usability and positive user experience. Therefore, this PWA-based credit application system not only improves process effectiveness and efficiency but also supports transparency, data accuracy, and user satisfaction.