INDONESIA ISLAMIC HOUSING FINANCE INDONESIA HALAL MORTGAGE MURABAHA MUDARABA TAKAFUL

INDONESIA ISLAMIC MORTGAGE ISLAMIC BANK

In Indonesia, Islamic finance is expected to account for 20% of the banking market in Indonesia in 2023, compared to 8% currently.

In Indonesia, with the development of legislation governing Islamic finance, the share of the banking market consisting of financial transactions and conventional products in accordance with the principles of Sharia should increase to 20% in 2023.

Indonesia diversification of Islamic finance products offered by the halal banking sector and the stock market also supports the conventional financing. In addition, the Central Bank will soon issue new alternative financial products (Sukuk Bank Indonesia), to strengthen the instruments of Islamic finance.

Economic growth in Indonesia has averaged about 6% since 2008. Shariah-compliant financial service providers currently account for only 4.5% of total banking sector assets. Between 2008 and 2012, Islamic bank assets tripled, increasing by an average of 31.5% annually. Strong growth in the past five years was helped by the Shariah Banking Law introduced in July 2008. Since then, the number of Islamic banking outlets has increased from 241 to 517, comprising 11 fully Shariah-compliant banks, 24 Islamic banking units and 158 Shariah-compliant rural banks. Islamic bank’s network has spread with the number offices rising at a rate of 27% year-on-year.

State-owned secondary mortgage company Sarana Multigriya Finansial (SMF) has officially launched a standard operating procedure (SOP) for Islamic banks in providing funds to housing developers.

INDONESIA'S ISLAMIC MORTGAGE LENDERS

HALAL MORTGAGE   TAKAFUL INSURANCE   STUDENT INSURANCE   CAR INSURANCE   HOME INSURANCE   REAL ESTATE INSURANCE   LIFE INSURANCE   BUSINESS INSURANCE   TRAVEL INSURANCE   HAJJ UMRAH INSURANCE   FUNERAL INSURANCE   MOSQUE INSURANCE   AUSTRALIA INSURANCE   GERMANY INSURANCE   ISLAMIC CAR LOAN   ISLAMIC MICROFINANCE    WITHOUT INTEREST   BUSINESS LOAN   FOR WOMEN    TAKAFUL MORTGAGE   LOAN WITH POOR CREDIT   ISLAMIC DEBT CONSOLIDATION    DISABILITY LOAN   STUDENT LOAN   ISLAMIC LEASING    LETTER OF CREDIT   PERSONAL LOAN   FOR STARTUP    PRIVATE LOAN   CROWDFUNDING   CALCULATOR    FOR WEDDING   FOR EXPATRIATE   ISLAMIC INSURANCE    INDIA TAKAFUL   ISLAMIC HEALTH INSURANCE   USA TAKAFUL    CANADA TAKAFUL   UK TAKAFUL   FARMER LOAN   CORONOVIRUS LOAN   TAXI LOAN   RAMADAN LOAN   LIST OF ISLAMIC BANKS   ALBANIA   ALGERIA   AUSTRALIA    BAHRAIN   BANGLADESH   BOSNIA-HERZEGOVINA    BRUNEI   CANADA   CHINA    DENMARK   DJIBOUTI   EGYPT    ETHIOPA   FRANCE   INDONESIA    IRAN   IRAQ   IVORY COAST    JORDAN   KAZAKHSTAN   KENYA    KUWAIT   KYRGYZSTAN   LEBANON    LIBYA   LUXEMBOURG   MALAYSIA    MALI   MAURITANIA   MOROCCO    NETHERLANDS   NIGERIA   NORWAY    OMAN   PAKISTAN   PALESTINE    PHILIPPINES   QATAR   RUSSIA    SAUDI-ARABIA   SENEGAL   SINGAPORE    SRI-LANKA   SUDAN   SWITZERLAND    SYRIA   TAJIKISTAN   TANZANIA    THAILAND   TUNISIA   TURKEY    U.A.E   UNITED-KINGDOM   U.S.A    UZBEKISTAN   YEMEN   AZERBAIJAN    INDIA   BELGIUM   GERMANY    IRELAND   ITALY   NEW-ZEALAND    SPAIN   SWEDEN    BULGARIA   KOSOVO   SOUTH-AFRICA    LONDON