Indonesia’s Islamic banking sector has been growing 40.2 per cent annually over the last five years, outpacing growth in conventional of 16.7 per cent a year over the same period. Deputy Governor of Bank Indonesia, the country’s central bank, Halim Alamsyah forecast that Shari’ah-compliant banking could account for 15-20 per cent of Indonesia’s banking industry within 10 years, from just over four per cent currently.
“We are confident Syariah (Shari’ah) finance will stimulate economic growth to a higher level and enhance the stability of the financial system,” he said……………………………………….Full Article: Source