Please enter verification code
Confirm
History of Islamic Bank in Indonesia: Issues Behind Its Establishment
International Journal of Finance and Banking Research
Volume 2, Issue 5, October 2016, Pages: 178-184
Received: Jul. 9, 2016; Accepted: Aug. 10, 2016; Published: Sep. 6, 2016
Views 5613      Downloads 276
Authors
Mutiara Dwi Sari, Faculty of Social Sciences, University College Bestari, Terengganu, Malaysia
Zakaria Bahari, Centre for Islamic Development Management Studies (ISDEV), Universiti Sains Malaysia, Penang, Malaysia
Zahri Hamat, School of Social Sciences, Universiti Sains Malaysia, Penang, Malaysia
Article Tools
Follow on us
Abstract
This paper aimed at making a critical review of the history behind the establishment and development of Islamic bank in Indonesia. This review revealed that the establishment of Islamic bank in Indonesia emanated from the undertowed and it’s divided into three phases. These phases are the phase of idea or thinking, the phase of rethinking, and the phase of establishmented and maturation. The main issues and problems that inhibited the establishment of Indonesian Islamic banks were political issues, lack of government support, legal issues, social problems, economic problems (lack of capital) and the debate among scholars about the legal prohibition of halal-interest conventional banks. These issues and problems delayed the establishment of Islamic bank in Indonesia.
Keywords
Indonesia, Islamic Bank, Bank History, Bank Establishment
To cite this article
Mutiara Dwi Sari, Zakaria Bahari, Zahri Hamat, History of Islamic Bank in Indonesia: Issues Behind Its Establishment, International Journal of Finance and Banking Research. Vol. 2, No. 5, 2016, pp. 178-184. doi: 10.11648/j.ijfbr.20160205.13
Copyright
Copyright © 2016 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
References
[1]
Ahmed, O. 1990. Sudan: The Role of the Faisal Islamic Bank. In Wilson, R. (ed.). Islamic Financial Markets. New York: Routledge, Chapman and Hall Inc.
[2]
Antonio, M. S. 2001. Bank Syariah: Dari Teori ke Praktik. Jakarta: Gema Insani Press. (In Indonesian).
[3]
Antonio, P. S. 1992. The Issue of Islamic Banking in Indonesia; Existing Constrains and Future Prospects. Master Thesis. International Islamic University of Malaysia.
[4]
Ariff, M. 1992. Islamic Banking: A Southeast Perspective. In Mohamed Ariff (ed.). Islamic Banking Southeast Asia. Singapore: Institute of Southeast Asian Studies. The Islamic Development Bank, 194-213.
[5]
Aryan, H. 1990. Iran: The Impact of Islamization on the Financial System. In Wilson, R. (ed.). Islamic Financial Markets. New York: Routledge, Chapman and Hall Inc.
[6]
Atmadja, P. and Antonio, M. S. 1999. Apa & Bagaimana Bank Islam, Yogyakarta: Dana Bhakti Prima. (In Indonesian).
[7]
Badan Pusat Statistik (BPS). 2014. Penduduk Indonesia: Hasil sensus penduduk 2010. Jakarta: Badan Pusat Statistik (Online). Downloaded at 7th January 2014. http://www.bps.go.id/website/pdf_publikasi/watermark%20_Penduduk%20Indonesia%20Hasil%20SP%202010.pdf. (In Indonesian).
[8]
Bank Indonesia, 2014. Laporan Perkembangan Perbankan Syariah Bank Indonesia (LPPS BI) 2004-2013 (Online). Downloaded at 12th June 2014: http://www.bi.go.id/id/publikasi/perbankan-dan-stabilitas/syariah/Default.aspx (In Indonesian).
[9]
Chapra, M. U. 2001. The Future of Economics: An Islamic Perspective. Jakarta: Shari’ah Economics and Banking Institute.
[10]
Ebrahim, M. S. and Joo, T. K. 2001. Islamic Banking in Brunei Darussalam. International Journal of Social Economics, 28(7), 314-337.
[11]
Effendy, B. 1998. Islam dan Negara: Transformasi Pemikiran dan Praktek Politik Islam di Indonesia, Jakarta: Paramadina. (In Indonesian).
[12]
Erol, C. and El-Bdour, R. 1989. Attitude, Behavior and Patronage Factors of Bank Customers Towards Islamic Banks. International Journal of Bank Marketing, 7(6), 31-37.
[13]
Gieraths, C. 1990. Pakistan: Main Participants and Final Financial Products of the Islamization process. In Wilson, R (eds). Islamic Financial Markets. New York: Routledge, Chapman and Hall Inc.
[14]
Hamoud, S. H. 1985. Islamic Banking, London: Arabian Information Ltd.
[15]
Haron, S. 2005. Sistem Kewangan dan Perbankan Islam. Kuala Lumpur: Kuala Lumpur Business School Sdn. Bhd. (In Malaysian).
[16]
Haron, S. and Yamirudeng, K. M. 2003. Islamic Banking in Thailand: Prospects and Challenges. International Journal of Islamic Financial Services, 5 (2): 1-11.
[17]
Hidayati, N. A. 2005. Politik Akomodasionis Orde Baru Terhadap Umat Islam. Jurnal Millah 4(2), 36-49. (In Indonesian).
[18]
Kahn, J. S. 1996. The Middle Class as a Field of Ethnological study. In Said, M. I. & Zahid, E., (eds.). Malaysia: Critical perspective, Essay in Honour of Syed Husin Ali (pp: 12-33). Petaling Jaya: Malaysian Social Science Association.
[19]
Karim, A. A. 2001. Ekonomi Islam Suatu Kajian Tempororer, Jakarta: Gema Insani Press. (In Indonesian).
[20]
Karim, A. A, 2007. Analisis Fiqih dan Keuangan. Jakarta: PT Raja Gafindo Persada. (In Indonesian).
[21]
Kuwait Finance House Research (2013) Global Islamic Finance: Growth, Development & Prospects (Online). Downloaded at 9th June 2014. http://www.mifc.com/?ch=55&pg=195&ac=99&bb=uploadpdf.
[22]
Mansour, W., Abdelhamid, M., Masood, O. and Niazi, G. S. K., 2010. Islamic banking and customers' preferences: The case of the UK. Qualitative Research in Financial Markets, 2(3), 185-199.
[23]
Metawa, S. A. and Almossawi, M., 1998. Banking Behavior of Islamic Bank Customers: Perspectives and Implications. International Journal of Bank Marketing, 16(7), 299-313.
[24]
Mufti, A. and Sula, M. S. 2007. Amanah bagi Bangsa: Konsep Sistem Ekonomi Syariah. Masyarakat Ekonomi Syariah, Jakarta. (In Indonesian).
[25]
Muhammad, 2005. Manajemen Bank Syariah. Yogyakarta: (UPP) AMPYKPN. (In Indonesian).
[26]
Mujiburrahman, 2006. Feeling Threatened Muslims-Christian Relations in Indonesia’s Order. Amsterdam: ISIM, University Press Leiden.
[27]
Mukhlis, 2011. Perilaku Menabung di Perbankan Syari’ah Jawa Tengah. PhD Tesis. Universitas Diponegoro, Semarang Indonesia.
[28]
Muqorobin, M. 2010. Perbankan Syariah Mampu Dinamiskan Sektor Riil (Online). Downloaded 5th June 2012 http://www.tribunnews.com/bisnis/2010/10/14/perbankan-syariah-mampu-dinamiskan-sektor-riil. (In Indonesian).
[29]
New Horizon, Global Perspective on Islamic Banking & Insurance. 2012. Islamic Banking in Indonesia: Is the Sleeping Giant Stirring? (Online). Downloaded 3th July 2015. http://www.islamic-banking.com/resources/7/NewHorizon%20Previouse%20Issues/New%20Horizon% 20 Issue%20184%20red.pdf.
[30]
Rae, D. E. 2008. Arah Perkembangan Hukum Perbankan Syariah, Buletin Hukum Perbankan dan Kebanksentralan, 6(1). 1-7. (In Indonesian).
[31]
Rahardjo, D. 2002. Bank Islam, In Abdullah, T., (Ed.). Ensiklopedia Tematis Dunia Islam. Jakarta: PT Ichtiar Baru Van Hoeve. (In Indonesian).
[32]
Rahardjo, D. 1998. The Question of Islamic Banking in Indonesia. In Ariff, M., (ed.). Islamic Banking in Southeast Asia, Singapore, Institute of Southeast Asian.
[33]
Salim, H, 2004. Sejarah Kebijaksanaan Kerukunan. Media Basis 53 (1-2): 37-38. (In Indonesian).
[34]
Shallah, R. 1990. Jordan: The Experience of the Jordan Islamic Bank. In Wilson, R. (ed.). Islamic Financial Markets. New York: Routledge, Chapman and Hall Inc.
[35]
Siddiqi, M. S. 2006. Islamic Banking and Finance in Theory and Practice. A Survey of State of the Art. Islamic Economics Studies, 13(2): 1-48.
[36]
Sudarsono, H. 2005. Bank dan Lembaga Keuangan Syariah (Deskriptip dan Ilustratip), Yogyakarta: Penerbit Ekonisia. (In Indonesian).
[37]
Sula, M. S. 2011. Perkembangan Perbankan Syari’ah Harus Diikuti Peningkatan Pasar. (Online). Downloaded 31st March 2012. http://www.republika.co.id/berita/ syariah/keuangan/11/03/31/lix5jg-perkembangan-perbankan-syariah-harus-diikuti-peningkatan-pasar. (In Indonesian).
[38]
Sumner, W. G. 1971. A History of Banking in all the Leading Nations II. New York: Kelly Publishers.
[39]
Sutedi, A. 2009. Perbankan Syariah, Jakarta: Ghalia Indonesia. (In Indonesian).
[40]
Triyuwono, I. 2000. Organisasi dan Akuntansi Syari’ah. Yogyakarta: Penerbit LKiS. (In Indonesian).
[41]
Witjaksono, B. 2015. Perbankan Syari’ah Lesu, Pelaku dan Otoritas Evaluasi Diri (Online). Downloaded 30th June 2015. http://www.republika.co.id/berita/koran/syariah-koran/15/04/01/nm48s94-industri-syariah-dievaluasi. (In Indonesian).
[42]
Wilson, R. 1990. Introduction. In Wilson, R (ed.). Islamic Financial Markets, New York, Routledge.
[43]
Wouters, P. 2007. Islamic Banking in Turkey, Indonesia and Pakistan: A Comparison with Malayisa. Islamic Finance News, 4 (42).
[44]
Yasin, M. N. 2010. Argumen-Argumen Awal Kemunculan Perbankan Syariah di Indonesia. De Jure Jurnal Syariah dan Hukum, 2(1), 109-123. (In Indonesian).
ADDRESS
Science Publishing Group
1 Rockefeller Plaza,
10th and 11th Floors,
New York, NY 10020
U.S.A.
Tel: (001)347-983-5186