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