SBY: Future of Sharia banking in RI

The Jakarta Post, Jakarta | Mon, 03/02/2009 2:48 PM  

The Sharia banking system can offer Indonesia hope in the midst of the current global economic slowdown because Islamic banking has not been affected, the President said at the opening of the World Islamic Economic Forum (WIEF) in Jakarta on Monday. 

"Islamic banking should take a front seat because it has not been affected by the crisis," President Susilo Bambang Yudhoyono said. 

Yudhoyono added that recently many countries in the West had warmed to Sharia branking because it does not incorporate dubious assets in investments and is risk-free. 

"In the West, Sharia banks have a mission because countries are increasingly welcoming them," Yudhoyono said, as quoted by kompas.com. 

The domestic Sharia banking industry has shown promising growth results, which have been increasing from year to year, he said. 

"We hope in future Indonesia will serve as a Sharia economic hub. We invite investors to develop this sector." (amr)