Indonesia’s Sharia Banking Assets to Get triple by 2013

Dec. 7, 2010 - PRLog -- Sharia banking has shown strong performance in Indonesia since 2000. The role of sharia banking continues to escalate in support of economic activities and huge unbanked population in the country. So far, sharia banks have not showed any weakening of their performance. Indonesia’s sharia banking is anticipated to gain a big boost in future as well on account of the government support. According to our research report “Indonesian Islamic Banking Outlook to 2013”, sharia banking assets are expected to reach around Rp 399.6 Trillion in 2013 over Rp 107.1 Trillion in 2010. Our report has discussed the factors that are driving growth in the industry.

After struggling from the monetary and economic crisis in 1997, many foreign investors believe that the Indonesian economy is showing good progress. The government of Indonesia, learning from Malaysia's experience, is now also making lots of efforts to develop the sharia industry. Thus, future of sharia banking industry seems very bright in terms of all the basic three components, namely assets, financing and third party funds, more popularly known as deposits in Indonesia. Our report provides an in-depth analysis on all the three components along with their future outlook.

The Central Bank of Indonesia is following a blueprint for sharia banking development, aimed at creating a strong sharia banking industry by 2015. This development strategy, as well as a broader sharia religious revival in the country that is helping to increase the popularity of sharia banking products, will lead to continuous strong growth in this sector during the forecast period. Our report has deeply analyzed the regulatory developments taking place in Indonesia.

Our study reveals that in near future, sharia banks are expected to increase their lending to SMEs to tap the potential of this highly profitable segment. We have also found that sharia cards in Indonesia are at their nascent stage and have large scope for further growth. Our report provides a deep in-sight into the market trends that are emerging in Indonesia. The report has also analyzed the type of banks in terms of their assets, financing, and deposits.

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