Indonesia becomes the center of the development of Islamic banking

Indonesia is rapidly transformed into a world center for Islamic banking industry. More and more foreign banks looking to expand its activities in this country for two main reasons: firstly, the number of Muslims, Indonesia is superior to other countries in the world, and secondly, until recently, it did not have Islamic banks. Adnan Ahmed Yousif recently (Adnan Ahmed Yousif), executive director of the bank Albaraka - the largest on record in Bahrain - announced that he is interested in acquiring shares in the Indonesian market. The price of issue - $ 100 million. Also, Qatar Islamic Bank (QIB) has repeatedly reported on the intention to increase its influence in Indonesia. QIB has the support of the Qatari government, which recently ordered the non-Islamic competitors QIB cease operations sharia banking and transfer their assets and assets of clients into full-fledged Islamic banks. Currently, QIB is working in Malaysia through the Asian Finance Bank and outlined two possible acquisitions in the Indonesian archipelago. Banks that already have branches in Indonesia, such as Standard Chartered Saadiq, too, tend to expand its activities in this country. To date, according to the Central Bank, the sector is estimated at 11.5 billion dollars, representing only 10% of all banking assets. The Central Bank reported that this year is going to increase the assets of Islamic finance up to 45%, that Indonesia could compete with neighboring Malaysia. On materials of "Islam for all."