REPUBLIKA.CO.ID, JAKARTA - For the first time in eight year, Islamic Finance News (IFN) awards Bank Indonesia (BI) as the best central bank in promoting Islamic finance. BI successfully steals the title from Bank Negara Malaysia (BNM). 

"Alhamdulillah (Praise the Lord -Ed), we finally beat Malaysia," Executive Director of Islamic Banking Department at BI, Edy Setiadi, said on Friday. 

BI has significantly made progress in boosting the development of Islamic finance with its conducive regulation, particularly  promoting Indonesia's retail banking sector. "This is the biggest portion. The number of bank accounts has reached 13 millions," Setiadi said.

Indonesia also made an impressive Islamic finance growth projection of 40 percent per year. Setiadi hopes the award will encourage BI to boost Islamic finance in Indonesia. "This would be impossible without supports from all stake holders," he said.

Apart from BI, Indonesia's Bank Muamalat wins the Most Innovative Islamic Bank. The National Bank for Development wins the Best Islamic Private Bank, Abu Dhabi Islamic Bank (ADIB) voted as the Best Islamic Retail Bank, Deutsche Bank grabbed the title of the Best Islamic Trustee/ Custodian, Alizz Islamic Bank wins the title of the Best New Islamic Bank, and Qatar First Islamic Bank achieves the Best Private Equity House.

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