07 January 2020
Indonesia is known for being home to the world’s largest Muslim population. More than 230 million Indonesians – which is about 88 percent of Indonesia’s total population – are categorized as Muslim. In fact, nearly 13 percent of all Muslims in the world, today, live in Indonesia. These are very impressive numbers and surely impact heavily on Indonesian society, the economy, and politics.
Indeed, it is true that a significant number of Indonesian Muslims can be labeled ‘cultural Muslim’, locally known as Muslim KTP, meaning they do not practice Islam but do retain an attachment to elements of Islamic culture due to their family background or the social and cultural environment in which they were raised, or, in which they are still living today (similarly, there are also ‘cultural Christians’, ‘cultural Hindus’, and ‘cultural Buddhists’ in Indonesia).
Nonetheless, with Islam being the dominant religion in Indonesia, the impact of Islamic teachings and values is felt throughout society. In fact, a process of Islamization has been ongoing in Indonesia basically since the arrival of Islam to the Archipelago around eight centuries ago.
Islamization brings opportunities. In earlier reports, Indonesia Investments already discussed the potential for Indonesia’s Islamic fashion industry and halal tourism. Meanwhile, there is another industry that rapidly comes to mind when discussing business activities that are in accordance with Islamic principles, namely Islamic banking or Sharia banking. But – rather remarkably – despite having the world’s largest Muslim population and despite forming a dynamic emerging economy, Indonesia plays a small role only in the global Islamic banking industry. Islamic banking apparently has a hard time taking off in Southeast Asia’s largest economy.
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Read the full article in the December 2019 report
This article discusses:
• Indonesia is home to the world’s biggest Muslim population, yet Islamic finance has not been developed. How come?
• Difference between conventional banking and Islamic banking
• Growth of the global Islamic finance market
• Despite the low penetration of Islamic finance in Indonesia, the country now ranks first in the Islamic Finance Country Index; how come?
• Indonesia recently launched the Masterplan of Sharia Economy 2019-2024. What does it propose in terms of Islamic finance?
• What are the challenges for further development of Islamic finance in Indonesia?
DISCRIMINATION IS AGAINST ISLAMIC VALUE
The main purpose of Syariah Bank, or Islamic Bank. Islamic Government. Islamic Hotel, Islamic Hospital, Islamic School , etc etc—- just to discriminate against Non Muslim to be employee. 100 per cent Muslim.
Actually it is against Islamic value. Ahmmadiyyah should reject Islamic Bank and others.
It will be fine if Iskamic Bank allow non Muslim become employee.
With love ❤️
I dont know where Somi got this idea again. Islamic Bank in GENEVA recruited many non-Muslim (native Swiss) bankers. Islamic banks encourage non-Muslim customers and indeed many customers are non-Muslim. Just the usual Somi Tempo talk.
Rafiq! Check it out in Lombok where you live.
You cannot find 1 non Muslim employee in Islamic Bank. 🙏
Ustadz say that Christian is Najis. That is why not allow non Muslim to be emoloyee😔 very very discriminative
I do not know in GENEVA. What I know in Saudi, Iran, Malaysia and Indonesia. There is non Muslim employee. Only Muslim employee, 100 Percent.
Yes there are non Muslim customers. But there is no Christian employee. They are exclusive!
Check it out Rafiq! You live in Lombok Indonesia
🙏