Adoption of Islamic Bankruptcy Law Values Into Indonesian Bankruptcy Law to Protect Good Faith Debtors

DOI

10.2991/assehr.k.200306.203How to use a DOI?

Keywords

bankruptcy law, Islamic bankruptcy law, good faith debtor

Abstract

This paper discusses the reasons of Islamic bankruptcy law values that should be adopted by Indonesia as a country with the world’s largest muslim population. This study employs a qualitative research method by using secondary data. The results indicate that the current Indonesian bankruptcy law is not debtor friendly. The main problem of this issue is that Indonesian bankruptcy law does not distinguish the differences between a debtor who is not willing to fulfill his debts and a debtor who is unable to fulfill his debts. The Islamic bankruptcy law serves protection for people who are in debt as long as they have good faith It is suggested that the government amend the current bankruptcy law by adopting the Islamic bankruptcy law values into the national bankruptcy law. Therefore, the law would provide justice for the debtors in the future especially for those who are engaged in an Islamic economic activities.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Robert
AU  - Bismar Nasution
PY  - 2020
DA  - 2020/03/13
TI  - Adoption of Islamic Bankruptcy Law Values Into Indonesian Bankruptcy Law to Protect Good Faith Debtors
BT  - Proceedings of the International Conference on Law, Governance and Islamic Society (ICOLGIS 2019)
PB  - Atlantis Press
SP  - 157
EP  - 161
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200306.203
DO  - 10.2991/assehr.k.200306.203
ID  - 2020
ER  -