The Review on Insolvency of Sharia Insurance Company from the Perspective of Islamic Economic Law in Indonesia (Case Study on Bankruptcy Decision of Asuransi Syariah Mubarakahco. Ltd Number 1016 K/Pdt.Sus-Bankrupt/2016)

Humans are created as social beings to help one another between human beings. This concept is carried out by the insurance based on sharia principles. The principles in general is the concept of mutual help where a group of people help each other, mutually guarantee, and work together, with each way out of tabarru funds. Insurance companies generally still have some very typical problems, namely insurance technical problems and unexpected factors that greatly affect the business. This problems might end up in the bankruptcy as it is happened as PT Asuransi Syariah Mubarakah (The ASM Co,Ltd) which is settled by verdict of The Commercial Court judge Number 1016 K/Pdt.SusBankrupt/2016. The purpose of this research is to know the difference between Insolvency or Bankruptcy of conventional financial institution and Sharia Financial institution in the court decision in daily application; to know is there any relevance of the Religious Court in responding to Bankruptcy Cases instead of Commercial Court inIndonesian legal system. With no clarity on the position of the Bankruptcy Case (Taflis) in the authority of the Religious Courts, to find out what matters need to be prepared in the perspective of Islamic economoc law application. The result shows there are main differences between the characteristics of the financial institutions, however the court decision shows no deference according to the law order. The Supreme Court Judge consider the bankruptcy so as to provide legal certainty to the creditors of The ASM Co.Ltd. while the core of the contract itself did not in its consideration. That is why the conclusion needs the eligibility of Religious Court to decide the sharia insurance insolvency dispute settlements.