REPUBLIKA.CO.ID, JAKARTA – Islamic banking in Indonesia grew fast since  Islamic law number 21/2008 was issued, the Deputy of Bank Indonesia, Halim Alamsyah, said on Wednesday. It even surpasses the development of Islamic Bank in Bahrain.

“Indonesian Islamic Banking grows faster than in Bahrain. But the fastest development is in Malaysia,” Alamsyah said in HR Syariah Summit hosted by Republika on Wednesday.

He compares the Islamic Banking to mini universal banking due to its comprehensiveness. “In the future, state finance can be managed in Islamic way,” he said

Meanwhile, the Head of Honorary Board of Indonesian Islamic Bank Association (Asbisindo), Riawan Amin, said Islamic Bank played an important role in reducing the disadvantage of banking system. “Usury is not allowed,” he said.

In Malaysia, Islamic Bank has an ambition to eliminate the disadvantage in big scale. Malaysian Islamic Bank may still practice some business regarded as “makruh” (avoiding it is more preferable –Ed). “It is better than 150 percent halal in small scale which will not change the disadvantage,” Amin said.

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