Legal Protection of Banking Customers in the Resolution of Banking Investment Disputes between Indonesia and Malaysia
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Abstract
Legal protection for customers in banking investment disputes plays a crucial role because the relationship between customers and financial institutions is often unequal—in terms of information, bargaining power, and access to redress mechanisms. The differences in the legal structures of Indonesia and Malaysia are worth examining because both countries recognize customer protection but have distinct regulatory frameworks and dispute resolution mechanisms. This study employs a normative legal methodology using a legislative and comparative law approach. The legal materials used include Indonesian and Malaysian legislation, as well as legal literature related to customer protection, banking investments, and the resolution of financial services disputes. The results of the study indicate that Indonesia has a fairly broad legal framework for protection, but its regulations remain scattered across various legal instruments, making the avenues for protection and redress not yet fully understandable to customers. Malaysia demonstrates a more integrated approach through its financial services sector regulatory framework and an ombudsman mechanism that provides a more targeted dispute resolution pathway. The effectiveness of legal protection is determined not only by the existence of legal norms but also by the clarity of the structure, the accessibility of forums, and the integration of dispute resolution mechanisms.
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