Islamic Banking System

Jun 18th, 2008, in Business & Economy, IM Posts, by

Islamic Banking The Sharia Banking Act is passed into law, and opposition to it from Christian legislators.

The Sharia Banking bill (RUU Perbankan Syariah) was enacted on 17th June and won the support of most political parties with the only opposition coming from the Partai Damai Sejahtera (PDS), a Protestant/Evangelical party.

Retna Rosmanita Situmorang of the PDS (Central Sulawesi) says the sharia banking bill is not needed as there are already provisions for sharia rules in the Banking Act (UU Perbankan) of 1992 as revised in 1998.

Retna Rosmanita Situmorang
Retna Rosmanita Situmorang

She said additionally that no national laws should be made that applied only to single groups of people based on religion, as this would result in a dual legal system, one system for Muslims and one for others. [1]

NKRI (Negara Kesatuan Republik Indonesia) is based on Pancasila and is not a religious state.

And [2]

We do not want to be held responsible for the consequences of this law being passed.


One Comment on “Islamic Banking System”

  1. avatar ausdag says:
    June 18th, 2008 at 5:41 pm

    I once asked an Indonesian business friend of mine about Sharia banking and he said that ironically it is based on a Jewish principal and that behind the scenes it still relies on investment and interest. Not sure how true this is.



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