Article of Rifki Ismal as cited hereunder.
The Islamic finance market in Indonesia has been growing rapidly, albeit from a small base, and remains far behind Malaysia in significance in the financial system overall. Malaysia has over 20% of the financial system in Islamic financial institutions, while Indonesia has just under 3.5% market share. A recent report by Rifki Ismal (from the Directorate of Islamic Banking at Bank Indonesia), “Islamic Banking in Indonesia: Lessons Learned,” which was presented at the UNCTAD Multi-Year Expert Meeting on Services, Development and Trade: The Regulatory and Institutional Dimension held April 6-8, 2011 provides an interesting overview of the banking market in Indonesia, and specifically on the differences between the product mix between equity- and debt-based products. (full story)
The Islamic finance market in Indonesia has been growing rapidly, albeit from a small base, and remains far behind Malaysia in significance in the financial system overall. Malaysia has over 20% of the financial system in Islamic financial institutions, while Indonesia has just under 3.5% market share. A recent report by Rifki Ismal (from the Directorate of Islamic Banking at Bank Indonesia), “Islamic Banking in Indonesia: Lessons Learned,” which was presented at the UNCTAD Multi-Year Expert Meeting on Services, Development and Trade: The Regulatory and Institutional Dimension held April 6-8, 2011 provides an interesting overview of the banking market in Indonesia, and specifically on the differences between the product mix between equity- and debt-based products. (full story)
