ISLAMIC BANKING IN INDONESIA: Islamic Banking The Banking System Being Credible Alternative

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With intention of maximizing  and  the aptitude of financing  for many sectors in the national economy, the Islamic banking system should have  synergy with conventional banks to provide  and  mobilize public funds more broadly (BI, diakses 2016).  Due to the fact that, Indonesia  has been well known as the biggest of population moslem country, it leads a very big potential market for Islamic banking  in the regional and the globe including  Moslem and Non-Moslem countries. Being different with its neighbor Malaysia, Indonesian government doesn’t make Islamic banking as a tool for growing in her  economic growth, but Indonesian Islamic Bankers  together with  Indonesian government seem to practice Islamic Banking System in Indonesia to be more compliance with Islamic values. Choudhury (2014) in his paper explains  that the process-oriented model named  as the shuratic process or the expansively interactive, integrative and evolutionary process (called IIE-learning process) is revealed to be crucial as the approach  of the circular causativeness and steadiness model of integrated actuality in Islamic political economy.

Ullah (2015) explained in his paper how an Islamic banking product (is able to) progresses into numerous  service practices in dissimilar circumstances of its submission. In the  model, there is an argument that a service should continuously expand into various practice environments and  to fulfil the requirements of several contexts and sustainable.  State Bank of Pakistan is the best illustrative to exhibit  how the regulators adopted an evolutionary regulatory framework that calls for designing and developing  Islamic banking products that  improve into the evolving market needs. The advanced  structure of   our thoughtful is the break-through of an Islamic banking product  which is developed  into the practiced atmosphere  of banks.  Therefore, it will be continued  to be more excellent and can be  authorized as development  of  regulatory frameworks in the Islamic banking industry.

The mutual benefits can be profited for  both the public and the bank as well, because of the feature of Islamic banking operation, that based on partnership and shared benefits principle. Justice in transaction and fair investment are the aspects that will be given primacies by Islamic Banking Operation System(BI, Sharia Banking, to be accessed 2016).

By highlighting the values of inseparableness and partnership in production, and side-stepping  any notional activity in financial transaction. To afford various products and banking services supported by numerous  financial schemes, Indonesian Islamic Banking along with the verse of Al Quran, it is said that, in Surah Al Anbiya’ verse 107: “And We have not sent you, [O Muhammad], except as a mercy to the worlds” (The Noble Quran,to be accessed 2016). Based on this ayat (verse) Allah Subhaanahu wa ta’ala told to the Prophet Muhammad Peace Be Upon Him that whatever he brought in this world are the mercy to the world, so all of all Indonesian people without exemption can be profited  by Islamic banking as a credible alternative (BI, Sharia Banking, to be accessed 2016)

Reference:

BI, Sharia Banking:Islamic Banking in Indonesia in Brief, http://www.bi.go.id/id/perbankan/syariah/Contents/Default.aspx to be accessed on September 20th 2016

Choudhury, Masudul Alam. “Islamic Political Economy: An Epistemological Approach.” Social Epistemology Review and Reply Collective 3, no. 11 (2014): 53-103.

Ullah, Karim. 2016.  Evolutionary Islamic Banking Service. Journal of Islamic banking and Finance Vol 3 No 2 December 2015  http://jibfnet.com/vol-3-no-2-december-2015-abstract-9-jibf to be accessed on September 22th 2016

The Noble Quran, https://quran.com/21 to be accessed on September 22th 2016

Hidayat Sofyan Widjaya About Hidayat Sofyan Widjaya
PERSONAL DETAILS Full Name : Hidajat Sofyan City/Date of Birth : Jakarta/7 Maret 1959 Gender : Male Marital Status : Married Address : Pedurenan Masjid 5 RT/RW: 06/04 Karet Kuningan Setiabudi, Jaksel. Telp/fax : 021-7434913/ 0215228460, 0215222645 Mobile Phone : 08128228443 Email Address : sofyantabligh2001@yahoo.com sofyan@perbanas.id WORKING EXPERIENCE Position Company Periode English Teacher New York English Course March’85 – Nov’86 Lecturer Indonesian University Oct’90 – March 92 Lecturer Perbanas Business School Oct’87 – Now Executive Secretary Center of Research and Community Development Perbanas School of Economics 1994 - 1997 Manager Center of Research and Community Development Perbanas School of Economics 1997 - 2000 Chief of Committee Al Arief Masjid Building Construction 2002 - 2003 Guest Lecturer CISFED 2011-now Board of Advisor CISFED 2014-now Member of Board of Expert The Indonesian Association of Islamic Economist 2015-now Dean Faculty of Economics and Business 2015-now FORMAL EDUCATION School/University Faculty Discipline Degree Year Trisakti Economy Islamic Economics & Finance Doctor (S3) January 2008 –April 2014 Indonesian Pasca Sarjana International Management Master (S2) Oct 1988- Oct1989 Indonesian Economy Management Bachelor(S1) 1978 - 1986 ORGANIZATION EXPERIENCE Organization Dates From To Position Masyarakat Ekonomi Syariah (MES) 2009 - now Member Pengajian Rutin Masyarakat Ekonomi Syariah Trisakti (MAESTRI) 2011 - now Coordinator Dewan Kemakmuran Masjid Al arief Perbanas 2003 - now Coordinator Campus Journal PQR 2008 - 2009 Writer Center of Research and Community Development Perbanas School of Economics 1994 - 1997 Executive Secretary Center of Research and Community Development Perbanas School of Economics 1997 - 2000 Manager Center of Research and Community Development Perbanas School of Economics 2014-2014 Secretary The Indonesian Association of Islamic Economist of Trisakti University 2011-2015 Chief of Board of Sharia Faculty of Postgraduate Program 2014 - 2015 Dean PT BPR Citra Artha Sedana 2014 - now Advisor Management The Indonesian Association of Islamic Economist 2015-now Member of Board of Expert Faculty of Economics and Business 2015-now Dean INTERNATIONAL CONFERENCE, SEMINAR AND COURSES Type of Courses Institution Periode Description Reflection Perbanas School of Economics 2001 Academic Staff Reflection Seminar Perbanas School of Economics 2002 Professionalism in Global Era Seminar Perbanas School of Economics 2004 STIE Perbanas Menghadapi Abad 21 Conference and Exhibition Perbanas School of Economics, etc 2006 Asia Pacific Conference & Exhibition on Banking Technology Seminar Masyarakat Ekonomi Syariah 2007 National Seminar of Sharia Management Panel Discussion Perbanas School of Economics 2007 Bankers’ Panel Discussion and Seminar Training Perbanas School Of Economics 2008 SEM Training Seminar Perbanas School Of Economics 2008 Finacial Crisis of Global Capital Market Conference Surabaya Perbanas School Of Economics 4th – 8th November 2008 SEAAIR Conference Conference International Islamic University Malaysia (IIUM) 2008 International Islamic University Malaysia (IIUM) International Accounting Conference IV Gathering Bank of Indonesia 2009 Inter-University Gathering Pelatihan LPPM Unika Atma Jaya 21 April 2010 Penulisan Jurnal Nasional Terakreditasi Kick –off the Program UGM and ABFII Perbanas 5-9 April 2010 Program of Strengthening The Finance Sector of Indonesia Short Course International Islamic University Malaysia (IIUM) 22nd-26th Nov. 2010 Islamic Capital Market, Islamic Banking Workshop TU Delft, UGM and ABFII Perbanas 16 – 25 June 2010 Mathematical Finance International seminar Trisakti University, etc. 7th-8th January 2011 Tauhidi Mthodology International Conference I S T E C, Paris 21st May 2015 Case Study of Indonesian Capaital Market PAPER Karakteristik SDM Syariah Menuju Perbankan Syariah Berstandar Internasional: Studi Komparatif The Subprime Mortgage Crisis: Islamic Economics Perspective Sejumlah Kendala dan Tantangan Fiqih Manajemen Risiko Perbankan Syariah dalam Rangka memenangkan Kompetisi Global Komposisi dan Struktur Penguasaan Pasar Modal Indonesia Inter-relationship Between Large Sectors And State-Owned Enterprises, Case Study of Indonesian Stock Market, Period of January 2007-December 2014. The Effect of Theta Variable Before and After of Screening Process to Every Changes of Price and Volume of Jakarta Composite Index, Application of TSR Method

Hidayat Sofyan Widjaya

Hidayat Sofyan Widjaya

PERSONAL DETAILS Full Name : Hidajat Sofyan City/Date of Birth : Jakarta/7 Maret 1959 Gender : Male Marital Status : Married Address : Pedurenan Masjid 5 RT/RW: 06/04 Karet Kuningan Setiabudi, Jaksel. Telp/fax : 021-7434913/ 0215228460, 0215222645 Mobile Phone : 08128228443 Email Address : sofyantabligh2001@yahoo.com sofyan@perbanas.id WORKING EXPERIENCE Position Company Periode English Teacher New York English Course March’85 – Nov’86 Lecturer Indonesian University Oct’90 – March 92 Lecturer Perbanas Business School Oct’87 – Now Executive Secretary Center of Research and Community Development Perbanas School of Economics 1994 - 1997 Manager Center of Research and Community Development Perbanas School of Economics 1997 - 2000 Chief of Committee Al Arief Masjid Building Construction 2002 - 2003 Guest Lecturer CISFED 2011-now Board of Advisor CISFED 2014-now Member of Board of Expert The Indonesian Association of Islamic Economist 2015-now Dean Faculty of Economics and Business 2015-now FORMAL EDUCATION School/University Faculty Discipline Degree Year Trisakti Economy Islamic Economics & Finance Doctor (S3) January 2008 –April 2014 Indonesian Pasca Sarjana International Management Master (S2) Oct 1988- Oct1989 Indonesian Economy Management Bachelor(S1) 1978 - 1986 ORGANIZATION EXPERIENCE Organization Dates From To Position Masyarakat Ekonomi Syariah (MES) 2009 - now Member Pengajian Rutin Masyarakat Ekonomi Syariah Trisakti (MAESTRI) 2011 - now Coordinator Dewan Kemakmuran Masjid Al arief Perbanas 2003 - now Coordinator Campus Journal PQR 2008 - 2009 Writer Center of Research and Community Development Perbanas School of Economics 1994 - 1997 Executive Secretary Center of Research and Community Development Perbanas School of Economics 1997 - 2000 Manager Center of Research and Community Development Perbanas School of Economics 2014-2014 Secretary The Indonesian Association of Islamic Economist of Trisakti University 2011-2015 Chief of Board of Sharia Faculty of Postgraduate Program 2014 - 2015 Dean PT BPR Citra Artha Sedana 2014 - now Advisor Management The Indonesian Association of Islamic Economist 2015-now Member of Board of Expert Faculty of Economics and Business 2015-now Dean INTERNATIONAL CONFERENCE, SEMINAR AND COURSES Type of Courses Institution Periode Description Reflection Perbanas School of Economics 2001 Academic Staff Reflection Seminar Perbanas School of Economics 2002 Professionalism in Global Era Seminar Perbanas School of Economics 2004 STIE Perbanas Menghadapi Abad 21 Conference and Exhibition Perbanas School of Economics, etc 2006 Asia Pacific Conference & Exhibition on Banking Technology Seminar Masyarakat Ekonomi Syariah 2007 National Seminar of Sharia Management Panel Discussion Perbanas School of Economics 2007 Bankers’ Panel Discussion and Seminar Training Perbanas School Of Economics 2008 SEM Training Seminar Perbanas School Of Economics 2008 Finacial Crisis of Global Capital Market Conference Surabaya Perbanas School Of Economics 4th – 8th November 2008 SEAAIR Conference Conference International Islamic University Malaysia (IIUM) 2008 International Islamic University Malaysia (IIUM) International Accounting Conference IV Gathering Bank of Indonesia 2009 Inter-University Gathering Pelatihan LPPM Unika Atma Jaya 21 April 2010 Penulisan Jurnal Nasional Terakreditasi Kick –off the Program UGM and ABFII Perbanas 5-9 April 2010 Program of Strengthening The Finance Sector of Indonesia Short Course International Islamic University Malaysia (IIUM) 22nd-26th Nov. 2010 Islamic Capital Market, Islamic Banking Workshop TU Delft, UGM and ABFII Perbanas 16 – 25 June 2010 Mathematical Finance International seminar Trisakti University, etc. 7th-8th January 2011 Tauhidi Mthodology International Conference I S T E C, Paris 21st May 2015 Case Study of Indonesian Capaital Market PAPER Karakteristik SDM Syariah Menuju Perbankan Syariah Berstandar Internasional: Studi Komparatif The Subprime Mortgage Crisis: Islamic Economics Perspective Sejumlah Kendala dan Tantangan Fiqih Manajemen Risiko Perbankan Syariah dalam Rangka memenangkan Kompetisi Global Komposisi dan Struktur Penguasaan Pasar Modal Indonesia Inter-relationship Between Large Sectors And State-Owned Enterprises, Case Study of Indonesian Stock Market, Period of January 2007-December 2014. The Effect of Theta Variable Before and After of Screening Process to Every Changes of Price and Volume of Jakarta Composite Index, Application of TSR Method

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