Banking Law Research Articles

Civil-Legal Peculiarities of Halal Finance Natural Person — Consumers (on the Example of the Republic of Tajikistan)

Halal financing is undergoing a process of globalization and is beginning to expand actively and steadily. Despite some advantages of this institution, there are a number of pressing problems that need scientific understanding. One of the main problems is the incompatibility of Sharia principles with traditional financial laws. Halal financing, based on the principles of Islamic theological doctrine, uses terminology and concepts that are not always equivalent to generally accepted traditional banking laws. Unlike traditional banks, halal banks cannot enter into certain transactions, such as a traditional consumer loan agreement. Nevertheless, the institution of an alternative to traditional consumer lending has not been sufficiently developed, especially in those countries where halal financing appeared not so long ago. The study of this issue in the post-Soviet space, where halal financing is beginning to develop, is still in its early stages, which necessitates its consideration. The article examines a halal alternative to traditional consumer lending through the murabaha agreement based on the civil legislation of Tajikistan.

The emergence of green finance a conceptual framework for environmental sustainability: innovation viewpoint

Background of the study This study intends to contribute to the continuing discussion about green economic growth by objectively investigating the consequences of clean energy generation, cutting-edge green practices, and ethical business on global sustainability. This study also examines how green finance laws effectively handle the financial limitations that companies face when pursuing green innovation. Green finance enables the development and implementation of sustainable business models, investments, trade, economic, environmental, and social projects through the effective utilization of financial resources. Methods This article offers a complete evaluation of the current state and advancements in green finance research using a mixed-methods approach, which includes bibliometric and qualitative analysis. We analysed a big dataset of research papers after entering the keywords into the Scopus database. Results This study found that green bank products include green securities, investments, climate financing, carbon finance, insurance, credit, and infrastructure bonds. Sustainability, sustainable development, investments, environmental economics, sustainable finance, green bonds, and the green economy dominate as a most prevalent theme. China has the strongest bibliometric linkages to other nations, followed by the US and UK. This study also examines whether green finance policies address firm financial restrictions while pursuing green innovation. VOS-viewer generates co-authorship-based keyword occurrence links and network maps. Conclusion Green finance strives to increase funding flows to sustainable development goals while mitigating environmental and social hazards. “Going green,” pricing, forecasting, modelling, picking the most efficient tool, and influencing investor behaviour toward environmentally friendly operations are all challenges. Environmental policies, interest rates, religion, risks, social inclusion, and banking laws all have an impact on bank green financing initiatives. The study’s main contribution is an overview of green finance breakthroughs for sustainability, which may help scholars and practitioners understand the trend and future research directions.

THE IMPORTANCE OF ENVIRONMENTAL PROTECTION CONCEPT IN EUROPEAN CENTRAL BANK LAW

The subject of this paper is the introduction of the environmental protection concept in the central banking law to preserve natural resources and contribute to ensuring sustainable economic development. In that sense, the author will attempt to describe the potential contribution of green central bank legislation in managing and mitigating environmental issues, aiming to identify the ecological dimension of the European Central Bank (ECB) mandate, as the supreme monetary institution of the European Union (EU). The following text focuses on the functional analysis of the ECB’s potential legal mandate for environmental activities, their scope, limitations, and practical justification where the introduction of these new activities must be carefully managed without creating a collision with its primary task of maintaining monetary and financial stability.tability.

Embodiment of Economic Democracy Aspects in National Banking Law

This research discusses the embodiment of aspects of economic democracy in Indonesian national banking law. Economic democracy is defined as a system in which the distribution of wealth and economic opportunity is done fairly and equitably. This research evaluates the extent to which the principles of economic democracy, such as fair access to banking services, financial inclusion, and consumer protection, are implemented in national banking regulations and policies. The method used in this research is qualitative analysis with a normative juridical approach, which involves the study of legal documents and related regulations. The results show that although there are some efforts to integrate the principles of economic democracy in national banking law, there are still gaps in its practical implementation. Recommendations are given to strengthen regulations and policies to be more aligned with the objectives of economic democracy, so that economic benefits can be felt by all levels of society.

Cross-Border Enforcement of Consumer Banking Law

This literature review examines the ongoing challenges and advancements in consumer protection within international finance and arbitration. It highlights regulatory failures, particularly in the context of high-profile financial scandals, underscoring the necessity for more robust financial regulations. The review discusses the issues of cross-jurisdictional consumer protection, focusing on the implications of regulatory arbitrage and its detrimental effects on consumer rights in global contexts. Additionally, it addresses the role of online dispute resolution as a means to reduce barriers to justice in cross-border financial transactions. The importance of fairness and efficiency in consumer arbitration processes is emphasized, particularly in relation to emerging digital finance models. The review also explores the critical issues of transparency and potential bias in international financial dispute resolution. Furthermore, it underscores the urgent need for reforms in international commercial law to effectively protect consumers amid the complexities of globalization and evolving financial landscapes. This compilation of insights presents a comprehensive understanding of consumer protection in cross-border financial environments, illustrating the necessity for improved regulatory frameworks and dispute resolution mechanisms to safeguard consumer rights effectively.

Prinsip Kerahasiaan dan Prinsip Kehati-Hatian dalam Perlindungan Data Nasabah Bank Syariah

Islamic banks conduct their business activities in accordance with the provisions of the Sharia Banking Law, adhering to the principles of confidentiality and prudence, which are fundamental to gaining customer trust. The business activities of Islamic banks involve the collection of funds (funding) and financing (lending) based on customer trust. In addition to trusting the bank with their funds, customers also trust the bank with their sensitive personal data, which must be protected as bank confidentiality according to Article 41 of the Sharia Banking Law. This study employs a normative juridical method to examine the principles of confidentiality and prudence in the business activities of Islamic banks in protecting personal data. The study utilizes primary and secondary legal materials, reviewing literature from previous research and conducting interviews. The research findings indicate that a data breach caused by a ransomware attack experienced by BSI threatens the bank's reputation. BSI must implement data protection measures to restore customer trust through confidentiality agreements. BSI also standardizes all banking systems used. Customers affected by data breaches can file complaints with BSI and the Financial Services Authority (OJK) as the supervisory body, and the bank must protect customers as stipulated by the regulations.

Analisis Kredit Macet dalam Menentukan Kebijakan Restrukturisasi

This research aims to find out how bad credit is resolved by credit restructuring at BRI Central Unit. This research uses descriptive qualitative research methods. The data source used in this research is primary data obtained from interviews and secondary data obtained from the agency, namely Bank BRI Central Unit. Data collection methods were carried out using observation, interviews and documentation methods. Based on the research results, it shows that resolving bad credit or problematic credit in the BRI Central Unit implements a restructuring policy as an effective and efficient way to reduce the level of bad credit. BRI Central Unit creditors have carried out credit restructuring in accordance with applicable banking laws and internal bank regulations. In settlement using the restructuring method, the creditor adheres to the conditions issued by BI, in accordance with the provisions regarding credit restructuring was first regulated in Bank Indonesia Directors’ Decree No. 31/150/KEP/DIR dated 12 November 1998 concerning Credit Restructuring which was later changed to Bank Indonesia Regulation No. 2/15/PBI/2000 concerning Credit Restructuring

Legal Analysis of The Role of Notaries in The Drafting of Financing Agreement Deeds Based on Sharia Principles At PT. Bank Syariah Indonesia Batam Branch Office

In every transaction or agreement they observe, notaries are crucial in guaranteeing adherence to sharia rules. It is essential for notaries to comprehend sharia principles in muamalah (business transactions) in order to perform their duties responsibly and in compliance with applicable legal rules. Muamalah based on sharia principles addresses a number of topics, including justice, openness, unity, and adherence to Islamic legal norms. To determine if a transaction or agreement complies with the relevant sharia principles, notaries must comprehend and internalise these principles. This research aims to find out, analyse and explain in depth the role of notaries in making financing agreement deeds based on sharia principles, so that they can contribute to the development of Islamic banking law and notaries in Indonesia, and analyse and explain comprehensively the responsibilities of notaries both civilly, criminally, and administratively for the sharia financing agreement deeds they make, so that they can contribute to the legal protection of the par. This research uses a type of legal research that is Normative as well as Sociological (empirical). The findings revealed that the role of the Notary in the application of Sharia principles in contract deeds at Bank Syariah Indonesia KC Batam is not overly dominant, because the Notary's role is essentially limited to legalising the contract, while the bank determines the contract's content entirely. The notary bears accountability for the Sharia Financing Agreement deed and must read and comprehend its contents. With this reading, the notary can also amend any inaccuracies in the deed's contents. The Notary will refuse to legalise the deed if it violates the law, public order, or decency. The constraints of the absence of Notary competencies that are in accordance with and fulfill sharia provisions, make not all Notaries who are partners of Islamic banks lack understanding of sharia principles.

Juridical Study of Bank Secrets Regarding Collective Assets in the Form of Deposits post Constitutional Court Ruling Number 64/Puu-X/2012 Concerning Customer Data and Their Savings for the Purpose of Division of Gono Gini's Property in a Civil Divorce Cases

Joint assets are assets or wealth obtained during the marriage. Even though the property was obtained from the husband's work alone, the wife still has the right to joint property. So joint property, whether the property belongs to the husband or wife, has the same rights and obligations regardless of whether it is registered in anyone's name and all legal actions regarding joint property must obtain the approval of both parties. The type of research used is normative legal research. The issues raised are regarding the juridical consequences of the exception of bank secrecy for joint assets following Constitutional Court Decision Number 64/PUU- X/2012. The result of this research is that the issuance of the Decision of the Constitutional Court of the Republic of Indonesia regarding the Judicial Review of Article 40 of the Banking Law has the juridical consequence that banks can disclose customer data for the purposes of civil cases regarding joint assets in divorce cases, so that the form between the bank and the customer contains a clause regarding prohibitions. For banks to disclose customer information, the application still has to follow the results of the Constitutional Court Decision Number 64/PUU-X/2012 because since that decision, Article 40 of the Banking Law has automatically had its contents changed according to the contents of the MKRI decision resulting from the judicial review of the banking law. Amendments to Article 40 paragraph (1) of the Banking Law as stated in Article 14 number 38 of Law Number 4 of 2023 can be submitted as guidelines for disclosing customer data for judicial purposes in civil cases including general courts and religious courts, which include for judicial purposes regarding joint assets in divorce and in order to fulfill the recovery of assets. From the explanation above, legal certainty can be obtained that after the Constitutional Court Decision Number 64/PUU- Joint assets in a divorce case can demand or reveal bank deposit data from their partner.

An Analysis of Interest-Free Finance in Pakistan

An interest-free economy plays a prominent role in the country's development. Pakistan being an Islamic country should make efforts to flourish Islamic finance in order to get the benefits of this justified and equitable Islamic economic system. The basis of interest-free finance is avoiding interest (usury) which is against the teachings of the Quran and Sunnah. The present research is qualitative in nature, data is extracted from audited financial statements of the respective Islamic banks and websites. The global annual growth rate of interest-free finance is 10% and the same growth is exhibited by Islamic banks. Islamic banks are contributing to charity to achieve SDG goals under CSR. In Pakistan, the people believe Islamic banking is not un-Islamic. Islamic finance's challenges were also mentioned. The biggest challenges include a lack of qualified people, different schools of thought, no Islamic banking laws, no client awareness, and few Islamic products.

Pertanggung jawaban Pidana Korporasi Pada Tindak Pidana Perbankan Dalam Rangka Pembaruan Hukum Pidana

Previously banking crimes committed by corporations tended to be difficult to enforce, because corporations weren’t the subject of criminal law, either according to the Criminal Code or the Banking Law. In order to reform the national criminal law, the government then promulgated the National Criminal Code and the PPSK Law which introduced a renewal of thought in the Indonesian criminal law regime. The reform led to a shift in the position of corporations as subjects of banking crimes. The issues raised are: 1) How does the position of corporations shift as the subjects of banking crime after the National Criminal Code and the PPSK Law?; 2) How is corporate criminal liability in banking crimes after the National Criminal Code and the PPSK Law? This research uses normative juridical methods through statue approach, and conceptual approach. The results obtained from this study include that after the National Criminal Code and the PPSK Law, the position of corporations as subjects of banking crimes has shifted from previously not recognized in the Criminal Code or Banking Law, now it has been recognized as a subject of banking crimes, so that the principle of delinquere non potest university used by the previous Criminal Code is no longer relevant in the new Indonesian criminal law paradigm. Then the National Criminal Code and the PPSK Law basically use three forms of corporate criminal liability, namely: criminal liability is imposed on corporations only, criminal liability is imposed on individual only, or liability is imposed on both (corporation and individual).

Renewal of Pancasila Based Banking Law in The Framework of Structuring Rural Bank to Face The Challenges of Globalization

Renewal of Pancasila Based Banking Law in The Framework of Structuring Rural Bank to Face The Challenges of Globalization

Perlindungan Hukum Jasa Keuangan Fintech Dalam Perkembangan Ekonomi Di Indonesia Pada Era Indusri 4.0

The Fintech-based financial services sector in Indonesia shows developments that are in line with regional and global sector dynamics. This development plays an important role in accelerating national economic growth, where the financial services sector functions optimally to maintain the smooth running of the financial system. This system is the foundation for sustainable development, supports community financial independence, and improves the distribution of development. This study uses a normative juridical approach with descriptive analysis. The data was analyzed qualitatively and juridically. The research results show that regulations in the financial services sector are developing rapidly due to demands from regional and global changes. One of the main challenges faced is the ASEAN Banking Integration Framework (ABIF). Legal developments in this sector can be seen in regulatory changes in institutions, services, products, and dispute resolution. Legal reform is still needed to provide a strong legal basis for the financial services sector, especially in civil and banking law. This reform aims to adapt regulations to the latest developments and ensure the stability and reliability of the financial services sector in the future.

Regulation is good but not enough: The historical origins of banking supervision in Spain, 1850–1936

The aim of this paper is to analyse the early stages of banking supervision in Spain, implemented between the second half of the nineteenth century and the first third of the twentieth century. We provide empirical evidence about the main factors behind the emergence of supervision, the supervisory authority, who the supervisors were, the regularity of inspections and the main inspection activities. We show that Spain was an example of early implementation of supervision, through the Banking Law of 1856 and the Banking Law of 1921. However, early regulations did not prove to be effective at reducing banking crises. We also show that banking instability produced a moderate reaction in terms of bank inspections during the second half of the 1920s and the 1930s. Those inspections were interrupted by the Spanish Civil War in 1936, an event that prevented a breakthrough in the supervisory tasks.

Beneficiary Ownership in Financial Services Sector Conglomerates in Indonesia

This research aims to explore the implications of beneficiary ownership in financial services sector conglomerates in Indonesia on financial system stability. Because financial services sector conglomerates can obscure the true beneficiaries within the conglomerate in Indonesia. This can pose risks to the financial system. If one financial institution within the conglomerate fails, it can have cascading effects on other institutions within the conglomerate. This can lead to systemic crises, which can harm the overall economy. Therefore, the problem lies in how to uncover the true beneficiaries within a financial services sector conglomerate in Indonesia. This is a normative legal research, prescriptive in nature, employing a legislative and legal comparison approach. Secondary data used includes legislation such as the Limited Liability Company Law, Banking Law, Financial Sector Development and Strengthening Law, as well as the Financial Services Authority Regulation on Financial Conglomerates. Additionally, international journals and legal dictionaries are used as references, supported by empirical data in the form of interviews with the Financial Services Authority. Data is analyzed qualitatively, with conclusions drawn using deductive-inductive reasoning. An individual or legal entity as a primary entity that can control changes in the Articles of Association, Share Ownership Structure, replacement of directors, board of commissioners, control the company's finances, but the individual/legal entity is not listed in the company's articles, then can be categorized as a beneficial owner of a limited liability company. Similarly, in a financial services sector conglomerate existing in Indonesia, it can be proven by finding out who controls the conglomerate.

Legal Study of Developer Responsibility for Bad Credit within the Framework of Law no. 1 of 2011

The development of housing credit provided by the North Lampung Matrix Housing Developer sometimes gives rise to bad credit problems, where the realization of the credit provided does not reach the predetermined target. This can affect North Lampung Matrix Housing activities and impact developer accountability. What is the developer's responsibility for credit in accordance with Law Number 1 of 2011 concerning Housing and Settlement Areas in Matrix Housing in North Lampung? The research results show that the developer's responsibility for credit in accordance with Law Number 1 of 2011 concerning Housing and Settlement Areas at Matrix Housing in North Lampung includes the obligation to collect debtors who experience problematic credit who collaborate with the developer. North Lampung Matrix Housing Partners Bank, basically this obligation has not been specifically regulated in the banking law and still uses general rules such as the Banking Law, Civil Code and Law Number 40 of 2007 concerning Limited Liability Companies. The absence of special "lex specialis" regulations is a weakness in responsibility when bad credit occurs. All components of North Lampung Matrix Housing have juridical responsibility for all operational activities. Resolving problem loans at Matrix Housing in North Lampung can be done in two ways, namely litigation efforts through the courts and non-litigation efforts through preventive measures such as anticipating the emergence of bad credit, early warning and negotiation.

Foreclosed Collateral as an Alternative for Bad Credit Settlement in Indonesia

Credit loans have the risk of not fulfilling payment obligations. Therefore it is necessary to bind collateral to get a repayment with collateral. if it cannot be anticipated anymore, then lousy credit will occur and must be resolved immediately, credit settlement usually uses the execution of mortgage rights. However, there are alternative settlements regulated in article 12 an of the law of the Republic of Indonesia number 10 of 1998 concerning banking law, namely foreclosed collateral in practice, there are problems regarding the implementation of foreclosed collateral by verdict number 183/pdt/2020/PT SMG and verdict number 24/pdt.g/2019/PN Pti. This study aimed to analyze the implementation of foreclosed collateral as a way to resolve the problem of bad loans. The research method used is normative, using secondary data obtained from library research, including primary, secondary and tertiary legal sources. Therefore, the implementation of the foreclosed collateral taken over by verdict Number 183/PDT/2020/PT Smg is valid because it is through a voluntary submission mechanism, and verdict Number 24/Pdt.G/2019/PN Pti is invalid because there is no agreement and has an impact on debtors and creditors feel harmed.

PERLINDUNGAN HUKUM BAGI DEBITUR BANK DALAM PERJANJIAN KREDIT PEMILIKAN RUMAH (KPR)

Human beings need a home as their basic necessity. Purchasing a house through installments has been the most popular method for several decades. The Home Ownership Loan Agreement (KPR) is a legal document between the debtor and the bank regarding the purchase of a house that is paid in installments by the debtor. According to Banking Law, KPR agreements tend to have provisions that benefit the bank, including high interest rates and significant additional costs. These implications further strengthen the need for increased transparency and legal protection for debtor customers, as well as stricter regulations in the banking industry to ensure a balance of interests between the bank and the debtor, given the debtor's relatively weak position. With legal protection for debtor customers, if debtor customers incur losses or risks in the KPR agreement, the creditor is obliged to handle, address, and resolve various complaints or losses experienced by the debtor party.

Navigating the Regulatory Landscape: A Comprehensive Analysis of Banking Law and Financial Stability in India

Navigating the Regulatory Landscape: A Comprehensive Analysis of Banking Law and Financial Stability in India

Regulations on Access to Financial Information to Improve Taxpayer Compliance with Law No. 9/2017 and its Implementation Rules

<p>The purpose of this research is to explore and analyze regulations for access to financial information for tax purposes to increase taxpayer compliance. The research approach in this study is qualitative normative based on literature and field studies in the form of collecting access data and following up on inbound and domestic AEOI based on access to information by tax administration. This study finds that for easy access to financial information for tax purposes both in the context of AEOI and the implementation of the tax laws, Law No. 9/2017 authorizes access to financial information to the Director General of Taxes (DGT) by setting aside the confidentiality of financial information in the Law of Tax Procedures and the Banking Law, access to banking financial information has positively increased tax compliance, but compulsory reporting of accounts with minimum balance of Rp1 billion have the potential to trigger rush of bank funds. On the other hand, it had reduced the effectiveness of Law No. 9/2017 to increase tax compliances for individuals who have accounts’ balance less than Rp1 billion at the end of the reporting calendar year. It can be suggested to amend the formulation of the provisions of Article 2 paragraph (3) of Law 9/2017 refers to the Common Reporting Standard (CRS) which must contain financial information, including NPWP with NIK (Resident Identification Number) for certainty and to eliminate doubts.</p>