Prophetic Study on Cross Border Insolvency and its Impact on the Economic Protection of Creditors and Debtors
Keywords:
Prophetic;, Cross Border Insolvency;, Protection of Creditors and DebtorsAbstract
The complexity of cross-border insolvency issues poses challenges in economic protection for creditors and debtors. This research aims to analyze the international and national legal frameworks regarding cross-border insolvency, as well as examine prophetic values in insolvency from an Islamic perspective in order to find a more comprehensive solution to economic justice. The research method used is a normative and conceptual approach with an in-depth literature review on international law, national law, and Islamic principles related to the concepts of iflās, maslahah, and economic justice. The results show that the normative analysis of cross-border insolvency reveals an imbalance of legal protection that requires reconstruction of prophetic values through the integration of the concepts of iflās and maslahah, resulting in an integrative model of economic protection of creditors and debtors based on the principles of economic justice in Islam, providing a more inclusive and equitable legal solution in handling cross-border insolvency.
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