Economic growth is slowing, dragging the Islamic financial market, especially in the Islamic banking industry. Financial Services Authority (FSA) considers, until now the Islamic finance industry, especially banks, have not seen any significant development. Because the growth target of Islamic banks fell 24 % last year.
This statement was delivered by the Head of the Department of Islamic Banking FSA, Edy Setiadi, when Islamic Economic Dialogue, at Hotel Sofyan, Jakarta, Thursday, March 6, 2014.
According to Edy, slowing economic growth dragging join the Islamic financial market. In fact, until today Islamic banking still use traditional transaction patterns.
"It should be versatile gadgets these days, but Islamic banking is still a traditional pattern with a face to face in their transactions, so it is definitely lagging behind," said Edy.
Edy added, not only related to economic conditions in Indonesia are currently uncertain, but the rules of the Bank of Indonesia (BI) on the category of banking capital. "Rules are made to increase competition among banks as the capital of Islamic banks and conventional banks is certainly different," he said.
However, it is still considered Islamic banking will be able to grow high in this year. Because of economic conditions in any crisis the Islamic finance market is still relatively safe from the threat.
"In response to this growth that the Islamic financial crisis there are no constraints, continues to increase. Anticipation of projected population growth , especially Muslims, including Indonesia, be a good market growth mainly middle income group," Edy said .