Implementation of Small Claim Procedure in Settlement of Sharia Capital Market Dispute: An Effort to Create Legal Certainty and Its Challenges

Ema Rahmawati, Man S. Sastrawidjaja, Efa Laela Fakhriah, Lastuti Abubakar

2018

Abstract

Capital market is an alternative of financing and investment. Indonesia acknowledges sharia capital market as a part of general capital market system. If the civil claim arising out from the sharia transaction, dispute can be settled in several procedures, i.e. through the Religion Court or ADR. Capital market litigation is rarely found in practise due to several reasons: the formalistic of the procedures, indefinite period and the complexity of issues. Since the competency of Religion Court to examine sharia economic dispute is relatively new, the Supreme Court then issued Regulation No. 14 Year of 2016. Accordingly, the sharia economic dispute can be examined through regular procedure or through small claim procedure (SCP). SCP known as a simple examination provides a simple, prompt and low-cost procedure and legal certainty, however its implementation in sharia capital market dispute might be different with the other economic sharia dispute and it is important to be analyzes. This article will describe the implementation of SCP in Religion Court, especially in examining sharia capital market [civil] dispute. It will also elaborate the analysis of advantage and disadvantage in implementing SCP in sharia capital market [civil] dispute, the challenge faced by the Religion Court

Paper Citation

in Harvard Style

Rahmawati E., Sastrawidjaja M., Fakhriah E. and Abubakar L. (2018). Implementation of Small Claim Procedure in Settlement of Sharia Capital Market Dispute: An Effort to Create Legal Certainty and Its Challenges.In Proceedings of the 1st International Conference on Recent Innovations - Volume 1: ICRI, ISBN 978-989-758-458-9, pages 1067-1074. DOI: 10.5220/0009922910671074

in Bibtex Style

@conference{icri18,
author={Ema Rahmawati and Man S. Sastrawidjaja and Efa Laela Fakhriah and Lastuti Abubakar},
title={Implementation of Small Claim Procedure in Settlement of Sharia Capital Market Dispute: An Effort to Create Legal Certainty and Its Challenges},
booktitle={Proceedings of the 1st International Conference on Recent Innovations - Volume 1: ICRI,},
year={2018},
pages={1067-1074},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009922910671074},
isbn={978-989-758-458-9},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on Recent Innovations - Volume 1: ICRI,
TI - Implementation of Small Claim Procedure in Settlement of Sharia Capital Market Dispute: An Effort to Create Legal Certainty and Its Challenges
SN - 978-989-758-458-9
AU - Rahmawati E.
AU - Sastrawidjaja M.
AU - Fakhriah E.
AU - Abubakar L.
PY - 2018
SP - 1067
EP - 1074
DO - 10.5220/0009922910671074