The Future of Islamic Banking and Finance in Indonesia: Performance, Risk and Regulation

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Romi Adetio Setiawan

The Future of Islamic Banking and Finance in Indonesia

Performance, Risk and Regulation

Romi Adetio Setiawan

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Paperback

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English

Routledge
18 December 2024

Regional studies; Monetary economics; International economics; Banking; Islamic law

Series: Islamic Business and Finance Series

Sharia-compliance is the raison d’etre of Islamic banks. All of their instruments and activities should be based on sharia principles, which unfortunately exposes them to greater risks than their conventional counterparts, regulated under the dual banking system in Indonesia. These include inconsistencies between fatwas, unique reputational risks, and inefficiencies in the regulatory framework governing Islamic banks.

This book critically examines the less-studied issue of developing an Islamic banking regulatory and supervisory framework that considers the risk pressures faced by Islamic banks’ operations in an Indonesian financial sector dominated by conventional banks. The book assesses the extent to which the global financial standards of the Basel Accords have been followed by Islamic Banks in Indonesia, with respect to their regulation, supervision, and risk management, to highlight the unresolved tensions in the multiple regulatory and supervisory institutions. The book proposes a middle-ground approach that accommodates modification of the existing financial regulatory and supervisory system in line with international best practice. The reforms proposed in this book offer a way for financial regulatory and supervisory agencies to further develop modern Islamic law and finance.

The book will be a valuable resource for scholars and policymakers interested in the dual banking system in Indonesia.

By: Romi Adetio Setiawan
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
ISBN: 9781032494777
ISBN 10: 1032494778
Series: Islamic Business and Finance Series
Pages: 199
Publication Date: 18 December 2024
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Forthcoming

Romi Adetio Setiawan is a Lecturer of Islamic Banking and Finance Law at the State Islamic University of Bengkulu, Indonesia.