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Islamic commercial jurisprudence (fiqh muamalah), as a branch of Islamic law governing human relations in economic and social activities, provides valuable insights into risk management in business, including political risks affecting Foreign Direct Investment (FDI) in ASEAN. This study aims to analyze the influence of political risk on FDI from the perspective of fiqh muamalah. It employs a literature review method, with data collected from Google Scholar using Publish or Perish software. The findings indicate that, from the perspective of fiqh muamalah, economic activities should be based on the principles of justice, transparency, and mutual welfare. High political risks, such as government instability, internal conflicts, and inconsistent regulations, contradict these principles by creating uncertainty and undermining investor confidence. Therefore, ASEAN countries with greater political stability tend to be more successful in attracting FDI because they offer a safer and more predictable investment environment, consistent with the principles of justice and security in fiqh muamalah.
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Halida Achmad Bagraff (2026) studied this question.
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