Promovendus Edy Nurcahyo won the "With Praise" Predicate lifting a dissertation entitled Model of Regulation and Supervision of Venture Capital Business Based on Sharia Economics

Denpasar – Edy Nurcahyo, an educator at the Buton Muhamaddiyah University, continued his doctoral degree (S3) at the Doctoral Study Program in Law, Faculty of Law, Udayana University. The Predicate With Praise was also won in the Legal Science Doctoral Program with the implementation of the Doctoral Promotion Open Examination on March 24, 2022 at the Hall of the Faculty of Law, Udayana University, this time the exam was also held with Hybrid Offline and Online media. Adopted a dissertation entitled "Model of Regulation and Supervision of Venture Capital Based on Sharia Economics".

The Doctoral Promotion Open Examination which lasted for 3 hours was led directly by the Coordinator of the Doctoral Study Program (S3) Law, Faculty of Law, Udayana University, Prof. Dr. I Putu Sudarma Sumadi, SH., SU, and Prof. Dr. Abraham. R, SH, MH as the Promoter, Dr. Pushed Putu Dewi Kasih, SH, M. Hum as Copromotor 1, Dr. Marwanto, SH, M.Hum as the Co-promoter II, and tested by 4 other examiners/debaters.

In his dissertation, Edy Nurcahyo, revealed that first, from the perspective of Pancasila and the Constitution, the philosophical foundation of venture capital business cannot be separated from what is mandated by Pancasila and the 1945 Constitution of the Republic of Indonesia, the goal of national development is the creation of a just and prosperous society, based on economic democracy, by developing an economic system that is based on a fair market mechanism. Second, the principles of sharia venture capital must comply with the muamalah rule, namely "something may be done as long as there is no prohibition in religion". In the Implementation of Sharia Venture Capital, it must comply with sharia principles, namely: 1) fairness; 2) al-ihsan (doing good); 3) Benefit (maslahah); 4) accountability; 5) Al-Kifayah; 6) Balance; honesty and truth; 7) prioritize social interests; and 8) universality (rahmatan lil'alamin), and does not contain gharar, maysir, usury, zhulm, risywah. Third, POJK No. 35/POJK.05/2015 concerning the Implementation of Venture Capital Companies has not provided legal certainty regarding comprehensive sharia compliance, there is no regulation on the establishment of a DPS mechanism that will guarantee legal certainty for sharia compliance, even though the PT Law requires the establishment of a DPS for companies that organize UUS, but Regulations regulate the form of business entity for Venture Capital companies, not only PT, but also PT, CV, and Cooperatives, each of which has different characteristics and organs of business entities. (FH IT Team)