Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Robert Sidauruk
Indonesia’s sharia banking sector is continuing to see increased growth. One reason for this growth has been the substantial transfer of hajj funds from commercial banks to sharia banks. The transfer of these funds was made mandatory under Article 22 (1) of Law No. 13 of 2008 on Hajj Management (Hajj Management Law)
In response to this development, Ahmad Buchori, Director of Sharia Banking at Bank Indonesia (BI), explained that BI is fully committed to developing the sharia banking industry through appropriate regulatory support.
“It is hoped that adequate regulations can support national sharia banking to reach a market share of at least 15% within the next 10 years,” said Buchori at a seminar held in Jakarta on Wednesday.
Buchori further announced that BI’s planned Sharia Economic Movement should act as a catalyst to perpetuate commitment from the Ministry of Religion Affairs to implement the Hajj Management Law, especially in relation to the movement of hajj fund savings from commercial banks to sharia banks.
However, Buchori admitted that the sharia banking industry still faces a number of challenges. These include the current economic uncertainty engulfing Indonesia and perennial issues related to insufficient facilities and infrastructure needed to boost balanced development throughout Indonesia.
“BI will keep strengthen the structure of the sharia banking industry, improve competitiveness and financial sustainability, as well as develop infrastructure to explore untapped areas,” added Buchori.
Similarly, the Director of Non-Bank Institutional Industries at the Financial Services Authority (OJK), M Muchlasin, explained that there are several critical support mechanisms that must be provided by the Government to develop the sharia banking industry.
These include setting higher market share targets for the sharia banking industry, raising public awareness, and strengthening the role of sharia financial authorities. Further, Muchlasim also believes it is necessary to have a regulatory framework that will trigger competitiveness between sharia banks.
“There must be a clear regulation,” emphasized Muchlasim.
Meanwhile, from the private sector’s perspective, Beny Witjaksono, Director of Bank Mega Syariah, says that the lack of competent human resources in the sharia financial industry is one obstacle within the industry. However, Benny acknowledges that this issue can gradually be overcome as the image of the sharia banking industry continues to improve and the public becomes more accustomed to sharia banking services.
“Many individuals are now interested in sharia financial service institutions as they offer the same income generation as commercial banks,” informed Benny.
(hot/kc)
Fathan Qorib, Robert Sidauruk
Indonesia’s sharia banking sector is continuing to see increased growth. One reason for this growth has been the substantial transfer of hajj funds from commercial banks to sharia banks. The transfer of these funds was made mandatory under Article 22 (1) of Law No. 13 of 2008 on Hajj Management (Hajj Management Law)
In response to this development, Ahmad Buchori, Director of Sharia Banking at Bank Indonesia (BI), explained that BI is fully committed to developing the sharia banking industry through appropriate regulatory support.
“It is hoped that adequate regulations can support national sharia banking to reach a market share of at least 15% within the next 10 years,” said Buchori at a seminar held in Jakarta on Wednesday.
Buchori further announced that BI’s planned Sharia Economic Movement should act as a catalyst to perpetuate commitment from the Ministry of Religion Affairs to implement the Hajj Management Law, especially in relation to the movement of hajj fund savings from commercial banks to sharia banks.
However, Buchori admitted that the sharia banking industry still faces a number of challenges. These include the current economic uncertainty engulfing Indonesia and perennial issues related to insufficient facilities and infrastructure needed to boost balanced development throughout Indonesia.
“BI will keep strengthen the structure of the sharia banking industry, improve competitiveness and financial sustainability, as well as develop infrastructure to explore untapped areas,” added Buchori.
Similarly, the Director of Non-Bank Institutional Industries at the Financial Services Authority (OJK), M Muchlasin, explained that there are several critical support mechanisms that must be provided by the Government to develop the sharia banking industry.
These include setting higher market share targets for the sharia banking industry, raising public awareness, and strengthening the role of sharia financial authorities. Further, Muchlasim also believes it is necessary to have a regulatory framework that will trigger competitiveness between sharia banks.
“There must be a clear regulation,” emphasized Muchlasim.
Meanwhile, from the private sector’s perspective, Beny Witjaksono, Director of Bank Mega Syariah, says that the lack of competent human resources in the sharia financial industry is one obstacle within the industry. However, Benny acknowledges that this issue can gradually be overcome as the image of the sharia banking industry continues to improve and the public becomes more accustomed to sharia banking services.
“Many individuals are now interested in sharia financial service institutions as they offer the same income generation as commercial banks,” informed Benny.
(hot/kc)